Any data that is structured, semi-structured, or unstructured and also can be created in bigger volume with higher velocity is known as Big Data.
Let us see the Advantages of Big Data-
Increased Productivity
Big Data influences productivity to a bigger extent. Few tools like Spark and Hadoop are used to increase productivity. These tools are used by an analyst to analyze data with higher volume.
Better services for Customers
Data analysis will help analysts to understand user behavior. Analysts can gather information from different social media platforms and this collected data helps them to respond according to customer needs.
Improved Decision-making
Big data helps industries to make better decisions that enhance their business. Business operations can be performed effectively with the help of big data. It also helps businesses to build strong foundations by establishing their roots.
Cost Minimization
Analytics of big data helps businesses to reduce their expenses. Additionally, tools of big data assist to enhance operational efficiency, and hence, it reduces cost.
Everything has advantages as well as disadvantages, now let’s see:
Disadvantages of Big Data:
Data Quality
Big data is typically unstructured and semi-structured. Its quality is sometimes never up to the mark. Sometimes, Data Mining Firms help to collect precise and accurate data for further study. The insights are non-worthy in this situation.
Fast changes
Technologies are getting better and improving in every phase, it becomes more advanced than previous versions. Not every firm can adopt these rapid changes this fast, hence it leads to a big mess in their business.
Risk of Cybersecurity
For big data, security cannot be maintained properly, since higher storage is required for big data and it can’t be handled properly. Hence, data security is been compromised because of a lack of facilities.
Compliance
Government compliance is required for the safekeeping of big data. Firms need to maintain the company standards or requirements of government while handling, maintaining, and storing big data. Companies can hire Data Mining Companies that help them to analyze data improve their business and also follows governmental norms.
Cost Factor
The process of analysis of big data is costly. Various additional costs are involved with it like technology cost, hardware cost, maintenance and storage cost, hiring of talent acquisition staff or Outsource Data Extraction Services, and tool deployment. Investment is needed to work on big data analysis.
Conclusion on Advantages and Disadvantages of Big Data
Since data plays an important role in businesses the maintenance of these data is the biggest and most critical issue. Big data helps in increasing sales and hence, raises revenues as well. But the analysis of big data requires so much investment and analyzing big data is not a very easy task.
For more details about Data Mining Services, you can visit our company’s website. Feel free to contact us at Technogiq IT Solutions.