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Nov 24, 2024
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Article Summary 1
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Article Summary 1
Impact of Big Data on Businesses
Introduction
In the swiftly evolving landscape of modern business, data has emerged as the
cornerstone of decision-making and strategic planning. The expansion of computerized
advancements has prompted a remarkable flood in the volume, speed, and assortment of
information created consistently. This flood, ordinarily referred to as Large Information, has
reshaped how associations work as well as reformed the actual substance of rivalry in the
corporate field.
The impact of Big Data on organizations is significant and extensive, impacting tasks,
advertising procedures, client relations, and even plans of action themselves. In this time of
information-driven bits of knowledge, organizations that bridle the force of Huge Information
stand ready to acquire a significant upper hand. This benefit isn't exclusively dependent upon the
sheer volume of information amassed, but instead on an association's ability to break down,
decipher, and successfully use this abundance of data.
This dynamic shift towards data-centricity has engendered a paradigmatic change in the
traditional business approach. It requires a light-footed and versatile outlook, where
organizations are gathering information at an uncommon scale as well as putting resources into
state-of-the-art advances and logical abilities to extricate significant experiences. The
coordination of cutting-edge investigation, AI calculations, and computerized reasoning
frameworks has become basic for organizations endeavoring to stay pertinent and serious.
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Article Analysis
1.
Yin, X. (2021) ‘Business Model Innovation in big data: A Blue Ocean shift for
businesses’, 2021 IEEE 6th International Conference on Cloud Computing and Big Data
Analytics (ICCCBDA)
Yin's article discusses the crucial concept of business model innovation in the context of
Big Data. The term "Blue Ocean shift" suggests a strategic move towards unexplored, untapped
market spaces. This idea is exceptionally important in the present information-driven business
climate where organizations are continually looking for imaginative ways of utilizing
information for the upper hand.
One central issue featured in this article is that organizations can never again depend
entirely on conventional income streams. All things being equal, they should turn towards
inventive plans of action that tackle the force of Large Information. This resounds with what
we've examined in class about the troublesome capability of Large Information. Organizations
that can adjust and improve their plans of action stand to acquire a huge benefit on the lookout.
Also, Yin stresses the significance of understanding client conduct and inclinations
through information investigation. This lines up with the possibility that Enormous Information
empowers organizations to acquire profound experiences in their client base, considering more
designated advertising procedures and item advancement. It's tied in with gathering information
yet in addition to utilizing it decisively to drive business choices.
2
. Gopalakrishnan, S. and Reddipogu, A. (2023) ‘Exploring artificial intelligence (AI)
impact on businesses: Perspectives from Big Data and security’, 2023 International Conference
On Cyber Management And Engineering (CyMaEn)
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4
Gopalkrishnan and Reddipogu delve into the intersection of Artificial Intelligence (AI),
Big Data, and security within the business landscape. This article highlights the groundbreaking
capability of computer-based intelligence, especially when coordinated with Enormous
Information capacities. Organizations are progressively perceiving the worth of man-made
intelligence-driven bits of knowledge from huge datasets.
The article raises a significant point regarding security concerns. As organizations depend
all the more vigorously on Enormous Information and simulated intelligence, guaranteeing the
secrecy and trustworthiness of delicate data becomes fundamental. This lines up with our
conversations on the moral and legitimate ramifications of Huge Information utilization.
Organizations should lay out strong safety efforts and consistency systems to safeguard both
client information and their standing.
Also, the article addresses the possibility of AI-driven automation, which can smooth out
activities and improve dynamic cycles. This lines up with our conversations on how Enormous
Information investigation, when combined with artificial intelligence, can prompt more
proficient and powerful business processes. Organizations that embrace this innovation stand to
acquire an upper hand concerning dexterity and responsiveness.
The convergence of AI and Big Data represents a pivotal moment in the evolution of
business intelligence. Organizations that effectively influence these advancements could acquire
important bits of knowledge at any point as well as drive development and proficiency across
their tasks.
Conclusion
In conclusion, the era of Big Data heralds a paradigm shift in the way businesses operate
and compete. Those who skillfully explore this scene, gaining the potential for advancement and
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effectiveness, are ready for progress. Nonetheless, this excursion really should be embraced with
a sharp eye on moral contemplations, guaranteeing information is taken care of mindfully and in
consistency with legitimate structures. As businesses continue to grapple with the challenges and
opportunities presented by Big Data, obviously the capacity to bridle and influence information
will be a characterizing factor in their prosperity. The articles dissected give a brief look into this
developing scene, offering significant experiences for organizations trying to flourish in the time
of Enormous Information.
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References
Gopalkrishnan, S., & Reddipogu, A. (2023). Exploring artificial intelligence (AI) impact on
businesses: Perspectives from big data and security.
2023 International Conference On
Cyber Management And Engineering
(CyMaEn)
. https://doi.org/10.1109/cymaen57228.2023.10051065
Hawcroft, D. (n.d.). Big data marketing strategy approaches for businesses selling through
online marketplace platforms. https://doi.org/10.7190/shu-thesis-00466
Industry examples of big data. (2013).
Big Data, Big Analytics
, 19-
59. https://doi.org/10.1002/9781118562260.ch2
What is big data and why is it important? (2013).
Big Data, Big Analytics
, 1-
18. https://doi.org/10.1002/9781118562260.ch1
Yin, X. (2021). Business model innovation in big data: A blue ocean shift for businesses.
2021
IEEE 6th International Conference on Cloud Computing and Big Data Analytics
(ICCCBDA)
. https://doi.org/10.1109/icccbda51879.2021.9442605
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