One of the latest trends in the business world today is what we call big data analytics and it is not surprising why. This time is called the information era for a reason, we use information derived from data to come up with smart solutions, especially in business. Thus, data means power.
Big data analytics is a way to derive various information from big data. As this business application service is of great importance today, we will share with you the various types of big data analytics and how they can be used to further your business.
1. Descriptive Analytics
One of the major types of big data analytics, this type aims to derive information from big data to describe what happens in a specific timeframe. It is often used for analysing campaigns, figuring out the pulse of a population or plainly getting insights into specific studies.
2. Diagnostic Analytics
Similar to descriptive analytics, diagnostic analytics aims to look through the generated data for answers. However, they differ in a way that diagnostic analytics specifically answers “why the event happened” instead of merely describing the phenomenon.
3. Prescriptive Analytics
A technique that is used side by side with diagnostic analytics, this method aims to troubleshoot the problems based on the diagnosed results. Researchers seek to find answers to the issues found from analysing the generated data when conducting prescriptive analytics.
4. Predictive analytics
This form of big data analytics aims to deduce smart solutions as well as extrapolate insights based on the data collected. It is a modernised approach to proactive problem-solving.
5. Cyber Analytics
Combining big data analytics and cyber security measures, cyber analytics aims to protect data from thefts or breaches.
Conclusion
These techniques are crucial to providing better data management and business application services in Singapore. When conducted with expertise, your company’s big data will be generated and interpreted with enhanced security and efficiency for your business growth.
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