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The contemporary business environment is characterized by proliferating data, growing customer demands, and shrinking budgets. It, therefore, calls for organizations to remain competitive by making the right decisions at the right time.
The business world has witnessed a paradigm shift over the past several years. It’s no longer imperative for business leaders to only rely on their judgment to make the right strategic decisions. Successful leaders have to be equipped with as much information as possible to enable better decisions. The insights that enable businesses to make better-informed decisions come by using a combination of past data, responding to the existing business needs in real time, and using a predictive modeling method to design a roadmap for future growth. Thus the need for big data!
What is Big Data?
Big data are datasets that have been gathered, stored, managed and analyzed by standard software tools. They generate plenty of value for businesses of all types and sizes. Organizations that can harness the power of big data benefit from the quality and operational efficiency, leading to labor and cost savings and ensuring a competitive edge. Leveraging the big data is also useful for companies to reduce errors, fight frauds and streamline processes.
Testing: Big Data …
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