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Big Data & Predictive Analytics How are they both related and does Predictive analysis provide better detail ?

Anyone and everyone today who talks about Big data talks about Predictive Analysis. I am looking for insights into the same.

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Question added by KALPANA DAHIYA , Financial Analyst-Financial Planning & Business Control , RJ GROUP OF COMPANIES
Date Posted: 2014/04/16
Muna Qurashi
by Muna Qurashi , Program Manager , Commission for Social Safety and Poverty Reduction - Sudanese Federal Ministry of Social Development

If you mean big quantity data i think with Predictive analysis it will lead to real useful data. I think that they are strongly related to each other, because big data should be analize carfully and predictivity to result a clear and usef data that can be used for decision making.

For the big quality data i think that with Predictive analysis it will give a perfect result with all the details need for any decision.

But the main question when we can said that this is a big quality data?

Sudheer J
by Sudheer J , Lead , Ford

The majority of raw data, particularly big data, doesn't offer a lot of value in its unprocessed state. Of course, by applying the right set of tools, we can pull powerful insights from this stockpile of bits.  Predictive analytics(PA) is the next step up in data reduction. It utilizes a variety of statistical, modeling, data mining, and machine learning techniques to study recent and historical data, thereby allowing analysts to make predictions about the future .   Predictive analytics is a technology that learns from experience (data) to predict the future behavior of individuals in order to drive better decisions. Prediction is power. PA leads within the growing trend to make decisions more "data driven," relying less on one's "gut" and more on hard, empirical evidence. Enter this fact-based domain and you'll be attacked by buzzwords, including analytics, big data, business intelligence, and data science. PA provides the below details -  

What's predicted: The kind of behavior (i.e., action, event, or happening) to predict for each individual, stock, or other kind of element. 

What's done about it: The decisions driven by prediction, the action taken by the organization in response to or informed by each.

Mohammed Asim Nehal
by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

When you say big data it means data of many years recorded and stored correctly. The challenges include capture, curation, storage, search, sharing, transfer, analysis and visualization of DATA. There are many tools available to sort and use data in a meaningful manner. Once you have correct data warehouse at your disposal you may use Business Intelligence tools to extract the way you want. This may include future/predictive analytics.

 

Connectivity between the two :

Predictive analytics is an enabler of  big data : Businesses collect vast amounts of real-time customer data and predictive analytics uses this historical data, combined with customer insight, to predict future events. Predictive analytics enable organizations to use big data (both stored and real-time) to move from a historical view to a forward-looking perspective of the customer.

For example, stores that use data from loyalty programs can analyze past buying behavior to predict the coupons or promotions a customer is most to participate in or buy in the future. Predictive analytics could also be applied to customer website browsing behaviors to deliver a personalized website experience for the customer.

 

Predictive models and analysis are typically used to forecast future probabilities. Applied to business, predictive models are used to analyze current data and historical facts in order to better understand customers, products and partners and to identify potential risks and opportunities for a company. It uses a number of techniques, including data mining, statistical modeling and machine learning to help analysts make future business forecasts.

gajendra singh
by gajendra singh , ACCOUNTS OFFICER , NK TEMPLES PVT. LTD.

First of all this is important to understand that what is predicitive analysis it means which the company can seen and what the company wants as a result this is predictive analysis now for that you have to handle all the thigs

 

Now how would you handle for it you need the department where mistakes is going on and now comes how can you predict that this department is faulty

through  the big data

now for predictive analysis big data is mandatory

The most important is saving time and human energy so that we can make future plans early

The terms Predictive analytics, Data analytics, data science, and analytics are often used interchangeably. They all tend to mean the same thing: the science that applies statistical (machine) learning to transform data in databases to useful insights that decision makers can use to make better decisions.

 

As for Big data, it is just a term to indicate that data is too big for your computer's RAM. In other words its size is greater than the RAM. So this is basically a naive and relative term. My computer could handle4GB while a supercomputer might be able to handle1PB (petabye). But in general it's data that cannot fit in the average computer. The term is also used to indicate the floods of data we are producing. If you think of it for a minute there is a huge amount of data being produced by each one of us from Twitter & Facebook to marketing &  business data.

 

To deal with data that doesn't fit in computer's RAM several methods could be utilized. Two popular are to chunk data and save it on the harddisk and retrieve only a small sample that can fit in the RAM. Another is to distribute the data to many computers and having each process the data and relay the result back to a single computer.

 

Hope this answers your question and clears any confusion.

Nelson Okech
by Nelson Okech , Senior Data Engineer , I&M BANK KENYA

Big Data and Predictive analysis go hand in hand since we you the big data to carry out the predictive analysis. We cannot project without prior knowledge

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