The barrage of new technologies that are introduced to the market, each with the promise of altering (or at least affecting) the corporate world, can easily make one numb. However, our examination of a few of the more important IT trends makes a strong argument for the fact that something important is taking place. Granularity, speed, and scale—the three key elements that have characterized the digital era—are typically being accelerated by these technological advancements. However, the extent of these shifts in bandwidth, computer power, and analytical complexity is what's creating new opportunities for organizations, inventions, and business models. Greater innovation may be made possible by the exponential gains in processing power and network speeds brought about by the cloud and 5G, for instance. Advances in the metaverse of augmented and virtual reality provide opportunities for immersive learning and virtual R&D using digital twins, for example. Technological development...
In recent years, there has been significant advancements in statistical analysis. A growing collection of sophisticated techniques and statistical tests have made it possible for researchers to handle a wide range of ambiguities in the data sets they have investigated (Beck & Katz, 1995; Cramer, 1986; White, 1980). The extent to which the standard assumptions of regression analysis are satisfied—particularly the independence of the error components and whether or not they have the same variance—is essential for deriving reliable parameter estimates from regressions. Even though statistical analysis offers tests to determine whether a particular model satisfies these presumptions, these tests don't offer much guidance on how to modify the model when the assumptions are violated.We propose adding a second technology to the researcher's toolkit in order to address these issues that arise during the study process. If there is structure in the error terms, social structure vis...