Basics of analytics and big data

Description

In this chapter, we introduce fundamental concepts of analytics and big data and role of analytics in multicriteria decision making. Three components of analytics, namely descriptive, predictive, and prescriptive are explained using different applications of these three components. The chapter also introduces big data challenges and technology used for handling big data problems. The primary objective of the chapter is to introduce basic concepts in analytics and big data to the readers.

Publication Date

1-4-2017

DOI

10.1201/9781315152653

ISBN

978-1315152653

Publisher

CRC Press

Keywords

Decision Making, Predictive Analytics, Basic Concepts, Fundamental Concepts, Multi Criteria Decision Making, Primary Objective, Three Component, Big Data

Source Link URL

https://doi.org/10.1201/9781315152653

discipline

Physical Sciences and Mathematics; Computer Sciences; Software Engineering; Business; Business Analytics

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