WHAT IS DATA ANALYTICS? )
Information analytics is no more an unknown phrase. Information analytics is only gathering, organizing, analyzing and obtaining useful insights from raw information. It’s described as analysis of Big Data, the acute datasets comprising business data, employing the techniques and methodologies specifically designed for this purpose. Such analytics transforms the business to a more efficiently managed entity. It’s not just helpful for the company but also for individuals taking data analytics as a livelihood choice. It has radically altered the way companies work nowdays.
KEY CHALLENGES COMPANIES HAVE TO FACE WITH BUSINESS ANALYTICS
1. ) HANDLING ENORMOUS DATA – A COMPLEX TASK
processing and managing information of any company or industry is in itself a difficult job but at precisely the exact same time managing an amount of these information is extremely intricate and hard for the proficient professionals. This not only needs skilled employees but also the adoption of these methodologies and techniques that may allow employees to do their work effectively and economically. This challenge could be improved using the tools intended for analytics like Hadoop and Python.
2. VISUAL AND PROPER REPRESENTATION
These tests aren’t just educated about managing data but also its presentation in a form that’s readily readable and understood from the audience. The challenges related to visual representation could be overcome using tables and graphs.
3. SCALABILITY FACTOR OF APPLICATIONS
The information streaming in the business is rising day by day. The storage and management of the huge number of information has become the toughest challenge for your own organization. The multiple layers existing between the databases are making it time-consuming and difficult for the associations for information traversal. But when the organization takes good care of its own architecture and technologies afterward performance problems can be decreased and scalability could be improved.
4. ) SHORTAGE OF DATA ANALYSTS AND SCIENTISTS WHO UNDERSTAND BIG DATA ANALYSIS
The associations that have embraced the resources and techniques connected with large information analytics lack the skilled employees having the knowledge of how to cope with Big Data. The lack of the skilled professionals (data analysts, business analysts, data scientists) is just another challenge for any company in spite of the size and nature of the company entity. And this deficit was transformed into excellent job chances and made this work quite attractive one of the project aspirants.
5. ) SECURITY OF DATA
Group and company won’t be fruitful and beneficial if the company isn’t able to earn the information gushing inside their information data protected places. A risk associated with safety and privacy of information might lead to vulnerability of the information. Since the number of information increases, the safety concerns increase mechanically. It’s still another challenge before businesses concerning the way to deal with the information without hampering the privacy and security safety steps.