The continued miniaturisation of computing power, wireless interconnectivity, and the expansion of the internet has led to the production of large-scale quantities of data. Considered on a macro level, the data may reflect consumer preference trends or event probabilities that, if identified, may be useful for guiding business decisions. Ongoing advancements in parallel processing allow businesses to analyse this “big data” to gain greater understanding of customers, business processes, and risks. Companies thus may now tune business decisions based on data analytics.
Intellectual Property Magazine
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