Does the use of Big Data database technologies and Business Intelligence analytics increase the accuracy of economic and financial analyzes carried out?
Do the results of the analyzes carried out using Big Data database technologies and Business Intelligence analytics allow improving the accuracy of conducted economic and financial analyzes and other analyzes of the type of technical analysis, fundamental analysis and other analysis of economic performance, economic and financial situation, property valuation, determination of business development perspectives , joint-stock companies, issuers of securities whose securities are traded on the stock exchange on the stock exchange?
In the context of the above discussion, another question arises:
Does it result in the use of Big Data database technologies and Business Intelligence analytics for technical analysis, fundamental analysis and other analysis of economic effectiveness, economic and financial situation, property valuation, determining the development perspectives of enterprises, joint-stock companies, issuers of securities whose securities are located in the stock exchange trading on the stock exchange, the efficiency of analytical processes increases? Do the results of conducted analyzes using Big Data database technologies and Business Intelligence analytics allow to improve the accuracy of conducted analyzes and increase the probability of prediction, forecasted phenomena and economic processes occurring?
Do you agree with my opinion on this matter?
In view of the above, I am asking you the following question:
Do the results of the analyzes carried out using Big Data database technologies and Business Intelligence analytics allow improving the accuracy of conducted economic and financial analyzes and other analyzes of the type of technical analysis, fundamental analysis and other analysis of economic performance, economic and financial situation, property valuation, determination of business development perspectives , joint-stock companies, issuers of securities whose securities are traded on the stock exchange on the stock exchange?
Please reply
I invite you to the discussion
Thank you very much
Dear Colleagues and Friends from RG
The issues of the use of information contained in Big Data database systems for the purposes of carrying out Business Intelligence analyzes are described in the publications:
Article APPLICATION OF DATA BASE SYSTEMS BIG DATA AND BUSINESS INTEL...
Article The Big Data technologies as an important factor of electron...
Article The Technological Solutions Big Data and the Importance of B...
I invite you to discussion and cooperation.
Best wishes
We need to collect data and evidence to answer this question. We cannot answer the question the abstract without relevant information.
You are asking a complicated question which contains several federate ones as well as they are employed in different contexts.
1. The Big Database technologies such as MongoDB, Cassandra, HBase, and to name but a few assist to improve the performance, both in memory and speed because of their schemaless structures. In the RDBMSs, because the tables are normalized it is a time consuming operation to perform query on the large databases. Furthermore, it leads to save a vast amount of NULL values which means a wast of storage and costs.
2. The accuracy in data analytics is depend on your model and diverse circumstances like data type for instance Video, Text, Image, Graphs, and etc.
A complicated question indeed! I would like to add a thought by Provost and Fawcett. They have pointed out that analytical skills and business knowledge have to come together: "data science involves much more than just data-mining algorithms. Successful data scientists must be able to view business problems from a data perspective“ (taken from https://www.liebertpub.com/doi/full/10.1089/big.2013.1508). So technology alone will not fix it.
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