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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Big Data Analytics and Models

Big Data Analytics and Models
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Author(s): Ferdi Sönmez (Istanbul Arel University, Turkey), Ziya Nazım Perdahçı (Mimar Sinan Fine Arts University, Turkey) and Mehmet Nafiz Aydın (Kadir Has University, Turkey)
Copyright: 2022
Pages: 24
Source title: Research Anthology on Big Data Analytics, Architectures, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-3662-2.ch008

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Abstract

When uncertainty is regarded as a surprise and an event in the minds, it can be said that individuals can change the future view. Market, financial, operational, social, environmental, institutional and humanitarian risks and uncertainties are the inherent realities of the modern world. Life is suffused with randomness and volatility; everything momentous that occurs in the illustrious sweep of history, or in our individual lives, is an outcome of uncertainty. An important implication of such uncertainty is the financial instability engendered to the victims of different sorts of perils. This chapter is intended to explore big data analytics as a comprehensive technique for processing large amounts of data to uncover insights. Several techniques before big data analytics like financial econometrics and optimization models have been used. Therefore, initially these techniques are mentioned. Then, how big data analytics has altered the methods of analysis is mentioned. Lastly, cases promoting big data analytics are mentioned.

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