Data Analytics Assesses Event Impacts on Developing Economies

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Countless experts have discussed the proliferation of big data over the last decade. The global market for big data is projected to reach $229 billion within the next five years. This is an important testament to the incredible value that big data has brought to organizations around the world.Despite the global impact of big data, the focus is too frequently viewed through the lens of developed economies, such as the United States and Western Europe. Although the utilization of big data is clearly more widespread in developed economies, it is also becoming more dominant in emerging markets as well. Policymakers and entrepreneurs in emerging economies must appreciate the contributions made by advances in data technology.Data analytics can also be useful for stakeholders abroad. They can use insights from data mining to identify financial trading and entrepreneurial opportunities in emerging economies that would have otherwise been overlooked. This can be great for forex traders. They can use data analytics to focus on forex software. Data analytics can be most beneficial when it comes to identifying the impact of major socio-political events. This can play an important role in anticipating changes in currency prices. Some of the ways that data analytics can …

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