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Rising Investment in Big Data and Analytics
Business leaders across the globe are increasingly making significant investments in data-driven transformation as a strategic priority. While organizations had been collecting massive volumes of structured and unstructured data over the past decade, insights remained untapped due to the lack of skills and appropriate technologies. However, mature big data and advanced analytics are now empowering companies from diverse industries to gain competitive advantages by leveraging information assets effectively. Continuous technological advancements are also making it possible to store, process, and analyze exabytes of data today.
As big data initiatives take center stage, there is growing focus on network analysis as a specialized technique. Extracting value from unstructured data often involves mapping relationships and interactions which traditional analytics struggles to address. Network modules offer capabilities for automated construction of relationship graphs, detection of patterns over connected entities and visualization of dynamics which are crucial for big data use cases. Several enterprises are implementing such solutions to drive insights from domains like supply chain optimizations, fraud detections, risk management, medical research and more.
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