Distinguished colleagues,
I need your professional opinion for my ongoing research. Please briefly state your opinion on this issue.
Thank you in advance!
Warm regards,
Dr. Vardan Atoyan
I feel technological innovations have huge impact on the way we think. Big data help in processing and extracting meaningful information from both the data types structured and unstructured. Also, new visualization technics, introduction of different charts making the job easy for the think tank as more real-time data is available to them. Rapid advances in NLP is also supporting in informed decision making. Overall, there has been a drastic change in decision science.
Dear Shirshendu Roy ,
Thank you for your comments and valuable contribution!
The most influential area is reducing costs and speed in completing tasks, reducing the time taken to complete work and reducing the required effort ... technological development has become a feature of the era. Regards
These technological advances structure and heighten the senses and discernment of thought leaders and think tanks. It's like the lens that refracts the light of facts and data, producing insights, foresight and understanding.
Dear Dr. Hussien Al Hasnawi and Dear Dr. Shian-Loong Bernard Lew ,
Thank you for your interesting comments and valuable contribution!
Regards.
Advances in information and communication technologies, the increasing use of electronic devices and networks, and the digitalisation of production processes mean that vast quantities of data are generated daily by economic and social activities. This 'big data' can be transmitted, collected, aggregated and analysed to provide insights into processes and human behaviours. Big data analytics have the potential to identify efficiencies that can be made in a wide range of sectors, and to lead to innovative new products and services, greater competitiveness and economic growth. Studies suggest that companies that adopt big data analytics can increase productivity by 5%-10% more than companies that do not, and that big data practices in Europe could add 1.9% to GDP between 2014 and 2020. However big data analytics also pose a number of challenges for policy makers. Whilst protecting privacy and personal data has arguably received the most attention, other big-data-related issues are expected to appear on the European Union policy agenda. These include 'data ownership' principles that determine who shares in the rights associated with big data; data localisation requirements that may unjustifiably interfere with the 'free flow of data'; labour shortages of skilled data workers and data-aware managers; and the creation of a new digital divide that risks marginalising those who do not make extensive use of information and communication technologies ( http://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2016)589801 )
https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2016)589801
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