The origin of the term “big data” can be traced back to a book by Erik Larson in 1989. However, economists and industry pundits have only started to discuss the impact big data has played in global organisations over the past few years. The impact has been incredible and will be even more significant by the end of the decade. Here are some of the applications brands are using big data.
Taxes are one of the biggest challenges companies face. The United States tax code is currently 73,954 pages long. It becomes more complicated over time because Congress and ask new laws that all businesses must comply with.
In addition to dealing with the complexity of the United States tax code, organisations must also adhere to tax laws in other countries. The number of different tax authorities they must comply with is increasing as more organisations expand internationally in the new global economy.
Complying with these tax challenges would be nearly impossible without the assistance of modern technology. Fortunately, new tax management applications have simplified these problems. Big data makes it easier for organisations to stay in compliance. According to a study from Deloitte, they are turning their attention to predictive analytics models, …