BIG DATA ANALYTICS: A REVIEW OF ITS TRANSFORMATIVE ROLE IN MODERN BUSINESS INTELLIGENCE

BIG DATA ANALYTICS: A REVIEW OF ITS TRANSFORMATIVE ROLE IN MODERN BUSINESS INTELLIGENCE

13-01-24 | Chioma Ann Udeh¹, Omamode Henry Orieno², Obinna Donald Daraojimba³, Ndubuisi Leonard Ndubuisi⁴, & Osato Itohan Orie khoe⁵
Big Data Analytics has emerged as a transformative force in modern business intelligence, reshaping how organizations derive insights from vast and diverse datasets. This review explores the key themes of Big Data Analytics, emphasizing its role in strategic planning, risk management, operational optimization, and customer-centric initiatives. The integration of advanced analytics techniques, including machine learning and artificial intelligence, enhances the depth and accuracy of insights derived from data. Big Data Analytics enables organizations to anticipate market trends, identify potential risks, and make informed decisions aligned with organizational objectives. In finance, it enhances fraud detection and risk assessment, while in healthcare, it facilitates personalized medicine and improves patient outcomes through predictive analytics. The paper discusses the foundational principles of Big Data Analytics, focusing on its ability to handle the three Vs—volume, velocity, and variety. Big Data platforms, such as Apache Hadoop and Apache Spark, provide the infrastructure to process and analyze vast datasets. The integration of advanced analytics techniques, particularly machine learning and artificial intelligence, elevates the transformative potential of Big Data Analytics. Real-time processing capabilities enable organizations to make decisions on the fly, enhancing agility and responsiveness to changing market dynamics. The paper also addresses the challenges inherent in the Big Data landscape, including data privacy, security, and the need for skilled professionals. Ethical considerations and regulatory compliance are crucial in the era of data abundance. The evolving threat landscape poses challenges related to data security, requiring robust cybersecurity measures. Organizations must align Big Data practices with regulatory frameworks to mitigate legal and reputational risks. Emerging trends in Big Data Analytics include edge analytics, federated learning, and the fusion with transformative technologies like the Internet of Things (IoT) and blockchain. These trends highlight the potential for new frontiers of innovation in data analytics. The paper concludes that the transformative role of Big Data Analytics in modern business intelligence is evident across sectors and industries, emphasizing its role in navigating strategic complexities, mitigating risks, optimizing operations, and placing the customer at the center of decision-making processes. As organizations continue to embrace Big Data Analytics, they must navigate ethical considerations, enhance cybersecurity measures, and embrace emerging trends to thrive in the data-driven era.Big Data Analytics has emerged as a transformative force in modern business intelligence, reshaping how organizations derive insights from vast and diverse datasets. This review explores the key themes of Big Data Analytics, emphasizing its role in strategic planning, risk management, operational optimization, and customer-centric initiatives. The integration of advanced analytics techniques, including machine learning and artificial intelligence, enhances the depth and accuracy of insights derived from data. Big Data Analytics enables organizations to anticipate market trends, identify potential risks, and make informed decisions aligned with organizational objectives. In finance, it enhances fraud detection and risk assessment, while in healthcare, it facilitates personalized medicine and improves patient outcomes through predictive analytics. The paper discusses the foundational principles of Big Data Analytics, focusing on its ability to handle the three Vs—volume, velocity, and variety. Big Data platforms, such as Apache Hadoop and Apache Spark, provide the infrastructure to process and analyze vast datasets. The integration of advanced analytics techniques, particularly machine learning and artificial intelligence, elevates the transformative potential of Big Data Analytics. Real-time processing capabilities enable organizations to make decisions on the fly, enhancing agility and responsiveness to changing market dynamics. The paper also addresses the challenges inherent in the Big Data landscape, including data privacy, security, and the need for skilled professionals. Ethical considerations and regulatory compliance are crucial in the era of data abundance. The evolving threat landscape poses challenges related to data security, requiring robust cybersecurity measures. Organizations must align Big Data practices with regulatory frameworks to mitigate legal and reputational risks. Emerging trends in Big Data Analytics include edge analytics, federated learning, and the fusion with transformative technologies like the Internet of Things (IoT) and blockchain. These trends highlight the potential for new frontiers of innovation in data analytics. The paper concludes that the transformative role of Big Data Analytics in modern business intelligence is evident across sectors and industries, emphasizing its role in navigating strategic complexities, mitigating risks, optimizing operations, and placing the customer at the center of decision-making processes. As organizations continue to embrace Big Data Analytics, they must navigate ethical considerations, enhance cybersecurity measures, and embrace emerging trends to thrive in the data-driven era.
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Understanding BIG DATA ANALYTICS%3A A REVIEW OF ITS TRANSFORMATIVE ROLE IN MODERN BUSINESS INTELLIGENCE