Analytics Magazine Analytics Magazine, May/June 2014 | Page 50

B IG DATA – preparing data, developing analytical models based on analytical techniques to solve for the business question, validating the model and deploying it. These are essentials of analytics and represent the elements of big data that organizations today need to pay attention to. Following is a closer, more technical look at each of these activities. DATA PREPARATION: SAMPLING. Sampling has been the backbone of analytical processes with the premise of using information of a s [\B