Former IBM balance sheet strategy manager Mark Marinello is a Columbia University graduate with nearly 30 years of experience in the financial sector. In addition to his professional work in finance, Mark Marinello is also personally interested in the subject of big data analytics.
In business, big data analytics refers to the collection and examination of large amounts of data organically created in the marketplace in order to gain insight into customer trends. However, big data differs from typical business analytics in several key ways.
According to an article published by the Harvard Business Review, big data collection contrasts with business analytics in volume, speed, and form. Big data relies on computer systems to quickly collect and store large amounts of unstructured data and process it to create a comprehensive view of the market for company analysts. In business analytics, these professionals are limited to the collection of structured data, and the processing of information is usually done by a team of human beings rather than a computer.
Both forms of analytics are used in order to help companies make more efficient decisions about business operations.