The Role of Big Data in Modern Business Strategies
Big Data refers to the vast volumes of structured and unstructured data businesses collect and analyze to extract valuable insights. Data Collection and Storage: Businesses gather data from various sources, including customer transactions, social media interactions, and IoT devices, storing them in centralized databases or cloud platforms for analysis. Data Analytics: Advanced analytics tools and algorithms process Big Data to uncover patterns, trends, and correlations, enabling data-driven decision-making and strategic planning.
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