Big Data: Performance Analysis of Vendor and Value Creation through Big Data Analytics

There has been a dramatic increase in the amount of data generated which is currently measured in zettabytes and still increasing. Managing the fast paced increase in data volume is going to be challenging as ever before as the datasets is getting even more diverse. Business analytics is the focal point of computer science, statistical science and management science. Business analytics entails providing strategy and process optimization which in turn steps up the competitive advantage. The world of business is undergoing a revolution through data and analytics acts as an aid to decision making process. Many of the leading organizations have started recognizing data as a strategic asset. Hence we focus on how the vendor processes Big Data and the architecture of the vendor service. It also emphasizes on the agent-based computational model, effective analytics and statistical techniques that can be applied on Big Data. Data is usually analyzed to streamline the enterprise with means of analytical insights with which the efficiency, profit and competitive position can be stepped up. As the concept of Big Data is loosely defined and kind of fuzzy, uncertainty pertaining to cost and advantages of undertaking a novel Big Data project prevails. Also it is not evident earlier that Big Data is transformed into valuable information and insights that justifies the investment made.