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Executive teams face myriad opportunities and risks in decisions regarding big data and related technologies. For their part, boards need to understand what big data is and why it matters, and where the highest-value applications of big data may be found.
Advanced analytics, applied to big data, can help detect opportunities and risks that may otherwise go undetected. It can flag possible biases in management thinking, marketplace inefficiencies, and emerging developments. Big data provides a new window on the world, but the right analytics tell you what you’re looking at and help you understand what it means to the organization.