ABSTRACT
Tech-age has made it acceptable to gather colossal measures of information. In the present era of new technology, organizations are capable of collecting big and huge amount of data comparatively with ease and also collect more data relatively in use. However, the information is generally insignificant until they are analyzed for patterns, designs, connections, and above all to derive useful information to create or sustain business strategies. This chapter illustrates the practical ways of various techniques, from easy to complex, to help you to analyze data sets and uncover significant data through data mining process and data analytics. In data mining technologies, it is important to discover the hidden knowledge, rules, and patterns, which are not visible to everyone. Therefore, there is a big emphasis all through this section on analytical techniques that are helpful for decision making. It covers the five stages of the Big Data Business Model Maturity Index (BDBM) that provides a guide for estimating how powerful your company is at incorporating information stage and applying analytics into your business models and strategies. One of such models is the SMART Integrated Business Model (SIBM Model). This approach helps organizations to distinguish where and how to begin big data journeys from a business viewpoint by selecting Unit & Process wise questions. So in the competitive world, SMART strategies and SMART questions will help in delivering the outcomes as per Budgets and scope of need, to improve execution and harness the essential force of data.
