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Therefore, it should be no surprise that the market for dataanalytics is growing at a rate of nearly 23% a year after being worth $744 billion in 2020. Big data can help companies in the financial sector in many ways.
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 dataanalytics technology. Big data helps businesses address cash flow needs A growing number of companies use big data technology to improve their financing.
For example, 99% of organizations surveyed by McKinsey said they have pursued a large-scale technology transformation since 2020. It aims to understand what’s happening within a system by studying external data. Predictiveanalytics helps to optimize IT operations by intervening before an incident happens.
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