For those who may not be familiar, there is a new science that is being called “big data” and it’s rapidly gaining in popularity as people realize its potential as a successful tool in business. It can also be called the future of data analysis. In this brief article, we’ll go over some of the basic ideas of what this discipline means and how to analyze big data. Hopefully by the time you’ve finished reading this, you’ll be better equipped to understand the issues involved and how to apply some of the insights discovered within this material to your own use.
The term “big data” itself is somewhat vague. It can mean many different things, but most often refers to large and processed sets of data gathered from many sources. This can be information from a sales report, financial report, natural disaster or survey. While this type of big data has been around for quite some time, it’s just recently that businesses have begun to harness its power.
Data mining is the primary method of exploiting big data. It involves sifting through large numbers of data sets looking for patterns or anomalies. One of the advantages of using this method is that it’s very accurate. It can even tell you whether something occurred more than once – revealing huge potential profits! However, it can also be frustrating, especially if you don’t know anything about the technology behind it.
Fortunately, now there are lots of books and websites out there that show you how to analyze big data effectively. There are many different approaches. Some apply random sampling, others binned or partition the data and still others look for normally distributed data. No matter how you slice it, the end result is the same. You need to fit your data to a specific range. This is called a supervised machine learning (SML) approach and it’s very effective when applied to big data.
Another popular approach is to break the data up into manageable pieces and then use an MLQ, R ML or other supervised learning algorithm to attempt to predict or identify patterns. This is often referred to as “supervised learning” because you essentially guide a computer with feedback on how to navigate through the data. These types of programs are widely used in many different domains such as image recognition, speech recognition and natural language processing
As mentioned, some people are using MLQs or R packages to do this job. Unfortunately, these packages have not been designed with big data in mind. Instead, they’re designed for simple applications. If you want to apply a statistical test to a huge database, for example, you’re better off using the free tools. These types of tools allow you to run statistical tests over thousands of samples, many of which are incredibly representative of real-world applications.
How to analyze big data is something that requires a significant amount of knowledge of statistical distributions and mathematical techniques. Fortunately, it’s not rocket science. There are plenty of books out there that explain in great detail how to analyze data in this way. And there’s a lot of open source software already available that you can easily download and use to do the analysis for you.
As long as you have the right kind of data and the right tools to do the analysis, there is no reason that your next big project couldn’t be successful in exploiting big data. If you learn how to analyze big data correctly, you can save yourself time, money and a ton of frustration by simply following proven methods that you can quickly apply in your projects. So if you’re feeling frustrated by the volume and variety of problems that you encounter trying to analyze big data, take a deep breathe, take a walk, and try again!