Monday, May 2, 2016

BIG DATA ANALYTIC IN E COMMERCE APPLICATION

Big data is structured, semi structured, unstructured, and raw data in many different formats, also its looking totally different than the numbers and text we have stored in our data warehouses for almost 3 decades years. Much big data cannot be analyzed with anything that looks like SQ or any another DML languages available . But most important, big data is a paradigm shift in how we think about data assets, where do we collect them, how do we analyze them, and how do we monetize the insights from the analysis.
The big data revolution is about finding new value within and outside common data sources. An additional approach is needed because the software and hardware environments of the past have not been able to capture, manage, or process the new forms of data within reasonable times or processing times. 
 Before proceding further every organization need to understand the importance of data and they are able to understhand the important role big data analytics


Data is an asset on the balance sheet of the organization

Slowly Enterprises now understand that data itself is an asset that should appear on the balance sheet in the same way that traditional assets from the manufacturing age such as equipment and land have always appeared. There are several ways to determine the value of the data asset, including  cost to produce the data,  cost to replace the data if it is lost, revenue or profit opportunity provided by the data,revenue or profit loss if data falls into competitors hands, legal exposure from fines and lawsuits if data is exposed to the wrong parties
But more important than the data itself, enterprises understand that data can be monetized,many e commerce application doing it.When an e-commerce site detects an increase in favorable click throughs from an experimental ad treatment, that insight can be taken to the bottom line immediately. This direct cause-and-effect is easily understood by management, and an analytic research group that consistently demonstrates these insights is looked upon as a strategic resource for the enterprise by the highest levels of management. This growth in business awareness of the value of data-driven insights is rapidly spreading outward from the e-commerce world to virtually every business segment