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What Is Big Data? How Does It Provide Business Value

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What is big data? How does it provide business value?


Definitions:

Typical Urban Family

A typical urban family refers to an average or standard family living in an urban area, often used in studies to assess living conditions, expenses, and economic impacts in city environments.

Intermediate Goods

Goods used to produce other goods.

Consumer Price Index

A gauge that tracks the overall variation in prices urban consumers pay for a selection of consumer products and services over a period.

Base Year

A reference year used in economics for comparative purposes, allowing the calculation of index numbers or real values.

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