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How Big Data Analytics influence Decision Making?
Big data can change how decision makers view business issues and inform strategic decisions so they can rely on objective data. Good data, sound analytics, and valuable insights are critical to reducing risk, making balanced strategic decisions, and competing with others.
Accelerating Time-to-Answer
The time period for decision-making is rapidly decreasing. Companies must make decisions faster than ever in this period. Accelerating decision time is critical to the success of any organization. Big data analytics mitigated. Customer reaction to a product is an important factor to consider when making a decision. Using data resources to understand the preferences of customers is one way of pointing out gaps existing in the market. Accelerating your time-to-answer is crucial for customer satisfaction.
Big Data and Traditional Business Intelligence Alignment
In order to get the maximum benefit of time-to-answer, a clearly defined relationship between Big Data and traditional Business Intelligence should be established. Achieving good governance in Big Data, traditional BI, and organizations is an important aspect of organizational success. Both variants; big data and traditional analytics have to work together to get maximum results from Big Data applications.
Create a Big Data Ecosystem
A data ecosystem is the organization of data from all sources. The data is then used to anticipate new challenges that may arise. In traditional Business Intelligence, you have to analyze one piece of data to the next. It is necessary to integrate data to achieve meaningful results. Data collection and cleansing is hectic and time consuming such that by the time you are done and have the answer the new client has already left or the old one has resulted to faster means. Big Data Analytics allows your organization to collect, integrate, and create a model to test hypotheses and metrics for real-time inspection of solution applications. This process gives an accurate and fast answer. Therefore, when customers forward a question, they get faster answers.
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