IBM is doubling down on its cloud computing initiative as it continues to redefine its business model in a marketplace that is less dependent on the complex hardware, software and services packages that once were its bread and butter. On Tuesday, the company -- which has quietly invested more than $4 billion over the past several years to bolster its hosted services offerings -- unveiled a new family of cloud products for the C-suite, including Big Data and analytics solutions for risk assessment, procurement and marketing applications.

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