Does the combination of Big Data database technologies and Business Intelligence analytics enable the improvement of conducting various economic, financial and other analyzes?
In my opinion, the scope of synergy and possibilities of combining applications of various advanced information processing technologies, including data analysis eg on Business Intelligence platforms based on large data sets collected in Big Data database systems for the purpose of improving information security management processes, including information transferred, increases. on the Internet, collected in Big Data database systems and used to carry out various economic, financial and other analyzes.
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In fact. BI and Big Data should contribute to analyse the economic behavior of society but, I think exists a latent problem about the qualitative data, such us percpections and language semantic. How this practices could help to understand he market and economicsIn fact. BI and Big Data should contribute to analyse the economic behavior of society but, I think exists a latent problem about the qualitative data, such us percpections and semantic language. ¿How this practices could help to understand he market and economics?
Hi ,
the Business Intelligence and Big Data systems have considerably changed the possibilities for improving economic analysis and reducing decision-making time by using fact-based support systems.
The market practices, to apply in the improve business activities and timely decision making by using fact-based support systems. Based on this achieved operational performance and the economic growth..
Best Wishes..
Yes, Of course. With the improvements in Big Data analytics frameworks and techniques you can do analysis easily than before. Some advantages are,
- easy set up
- efficiency
- robustness
- fast learning
- lot of functionality to choose for graphs and so on
- lot of free libraries
Examples can be Spark and Jupyter notebooks. Data analysis with huge data has become affordable for many people because of these technologies.
Yes, the integration of BI and Big Data analytics give a better result to study the economic behavior of society. The combination of both help to improve the decision-making process, save time for decision-making in business based on the fact-based system. There are lots of free libraries and tools available which can be easily set up for Big data analytics such as Hadoop, Spark and many more.
I partially agree with you because my point of view is that the data is the gold, while big data and bi are tools for analyzing them. However, let me introduce a new perspective related to the kind of economical analysis and the decision making that we can do with them...what about the real-time decision making in stock markets? Big data is oriented to batch processing, while data stream engines are focused on the data processing on the fly. We have alternatives such as apache sparķ, storm, etc which allow articulating both contexts. Even more, the IoT environment is providing a new perspective for business in relation to the data gathering. I personally think that The Big Data, IoT and data streaming are key assets for fostering businesses, acting as a social and economical glue.
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