Research Challenges in Big Data Analytics

The term Big Data refers to large-scale information management and analysis technologies that exceed the capability of traditional data processing technologies. Big Data is differentiated from traditional technologies in three ways: volume, velocity and variety of data. Big data analytics is the process of analyzing large data sets which contains a variety of data types to uncover hidden patterns, unknown correlations, market trends, customer preferences and other useful business information. Since Big Data is new emerging field, there is a need for development of new technologies and algorithms for handling big data. The main objective of this paper is to provide knowledge about various research challenges of Big Data analytics. A brief overview of various types of Big Data analytics is discussed in this paper. For each analytics, the paper describes process steps and tools. A banking application is given for each analytics. Some of research challenges and possible solutions for those challenges of big data analytics are also discussed.