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Small Businesses Use Big Data to Offset Risk During Economic Uncertainty

Smart Data Collective

Big data technology used to be a luxury for small business owners. In 2023, big data Is no longer a luxury. One survey from March 2020 showed that 67% of small businesses spend at least $10,000 every year on data analytics technology. However, there are even more important benefits of using big data during a bad economy.

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Business Strategies for Deploying Disruptive Tech: Generative AI and ChatGPT

Rocket-Powered Data Science

Third, any commitment to a disruptive technology (including data-intensive and AI implementations) must start with a business strategy. 3) How do we get started, when, who will be involved, and what are the targeted benefits, results, outcomes, and consequences (including risks)?

Strategy 289
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Real-time transaction data analysis with IBM Event Automation

IBM Big Data Hub

1] The need to improve real-time decision-making is contributing to a growing demand for event-driven solutions and their ability to help businesses achieve continuous intelligence and situation awareness. An event-driven architecture focuses on the publication, capture, processing and storage of events.

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3 reasons why business and data analysts need to work with real-time events

IBM Big Data Hub

Uncertainty is expected and complexity is compounding. ” 1 Business and data analysts are intimately familiar with the growing business need for precise, real-time intelligence. Advantages of event-driven solutions This is where event-driven solutions excel. 3 reasons to take advantage of event-driven solutions 1.

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Maximizing your event-driven architecture investments: Unleashing the power of Apache Kafka with IBM Event Automation

IBM Big Data Hub

Recognizing the need to harness real-time data, businesses are increasingly turning to event-driven architecture (EDA) as a strategic approach to stay ahead of the curve. This trend grows stronger as organizations realize the benefits that come from the power of real-time data streaming.

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Top 9 challenges IT leaders will face in 2023

CIO Business Intelligence

Economic uncertainty Organizations are concerned about multiple economic forces that are all causing uncertainty, says Srinivas Mukkamala, chief product officer at Ivanti. How do you future-proof your business in the face of so much uncertainty? Inflation is a major issue for CIOs both in direct costs and labor,” Reeher says.

IT 145
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How to Move from Real-Time Data to Real-Time Decisions

CIO Business Intelligence

Hubbard defines measurement as: “A quantitatively expressed reduction of uncertainty based on one or more observations.”. This acknowledges that the purpose of measurement is to reduce uncertainty. And the purpose of reducing uncertainty is to make better decisions. I call this point data saturation.