Big Data analytics is the process of collecting, organizing and analyzing large sets of data to discover patterns and other useful information. Big Data analytics can help organizations to better understand the information contained within the data and will also help identify the data that is most important to the business and future business decisions. Analysts working with Big Data typically want the knowledge that comes from analyzing the data.

1.Cost reduction - Big data technologies such as Hadoop and cloud-based analytics bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business.

2.Faster, better decision making. With the speed of Hadoop and in-memory analytics, combined with the ability to analyze new sources of data, businesses are able to analyze information immediately – and make decisions based on what they’ve learned.

3.New products and services. With the ability to gauge customer needs and satisfaction through analytics comes the power to give customers what they want. Davenport points out that with big data analytics, more companies are creating new products to meet customers’ needs.