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For example: Amazon Lex – In 2017, Amazon introduced Amazon Lex, which has enabled the company to understand what their consumers want or need before they do themselves. Finance Financial organizations can enhance riskmanagement, fraud detection, and compliance with the aid of big data and machine learning.
In 2017, The Economist published a story titled, “The world’s most valuable resource is no longer oil, but data.” This step can make or break an organization’s ability to understand its data better and leverage it to maximize profitability, reducecost, and create value for shareholders.
Vertical Integration: By taking control of different stages of the production or distribution process, businesses can gain supply chain control, reducecosts, increase efficiency, and differentiate their products and services. Additionally, they may need to hire and train new employees to handle the increased scope of operations.
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