Business dynamics are evolving with every passing second. There is no doubt that the competition in today’s business world is much more intense than it was a decade ago. Companies are fighting to hold on to any advantages.
Digitalization and the introduction of machine learning into day-to-day business processes have created a prominent structural shift in the last decade. The algorithms have continuously improved and developed.
Every idea that has completely transformed our lives was initially met with criticism. Acceptance is always followed by scepticism, and only when the idea becomes a reality does the mainstream truly accept it. At first, data integration, data visualisation and data analytics were no different.
Incorporating data structures into business processes to reach a valuable conclusion is not a new practice. The methods, however, have continuously improved. Initially, such data was only available to the government, where they used it to make defence strategies. Ever heard of Enigma?
In the modern day, continuous development and improvement in data structures, along with the introduction of open source cloud-based platforms, has made it possible for everyone to access data. The commercialization of data has minimised public criticism and scepticism.
Companies now realise that data is knowledge and knowledge are power. Data …
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