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Private Banks, Followed by E-commerce and Telecom Industry Shows High Adoption Rates for Data Analytics

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Private Banks, Followed by E-commerce and Telecom Industry Shows High Adoption Rates for Data Analytics

Are you looking for a data analyst job? The chances of bagging a job at a private bank are more than that a public bank. The former is more likely to hire you than the latter.

As a matter of fact, data analytics is widely being used in the private banking and e-commerce sectors – according to a report on the state of data analytics in Indian business. The veritable report was released last month by Analytics India Magazine in association with the data science institute INSOFE. Next to banking and ecommerce, telecom and financial service sectors have started to adopt the tools of data analytics on a larger scale, the report mentioned.

The report was prepared focusing on 50 large firms across myriad sectors, namely Maruti Suzuki and Tata Motors in automobiles, ONGC and Reliance Industries under oil-drilling and refineries, Zomato and Paytm under e-commerce tab, and HDFC and the State Bank of India in banking.

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If you follow the study closely, you will discover that in a nutshell, data analytics and data science boasts of a healthy adoption rate all throughout – 64% large Indian firms has started implementing this wonder tool at their workplaces. As a fact, if a firm is found to have an analytics penetration rate of minimum 0.75% (which means, at least one analytics professional is found out of 133 employees in a company), we can say the company has adopted analytics.

Nevertheless, the rate of adoption was not universal overall. We can see that infrastructure firms have zero adoption rates – this might be due to a lack of resources to power up a robust analytics facility or whatever. Also, steel, power and oil exhibited low adoption rates as well with not even 40% of the surveyed firms crossing the 0.75% bar. On contrary, private banks and telecom industry showed a total 100% adoption rates.

Astonishingly, public sector banks showed a 50% adoption rate- almost half of the rate in the private sector.

The study revealed more and more companies in India are looking forward to data analytics to boost sales and marketing initiatives. The tools of analytics are largely employed in the sales domain, followed by finance and operations.

Apparently, not much of the results were directly comparable with that of the last year’s study. Interestingly, one metric – analytics penetration rate – was measured last year as well, which is nothing but the ratio of analytics-oriented employees to the total. Also, last year, you would have found one out of 59 employees in an average organization, which has now reached one data analyst for every 36 employees.

For detailed information, read the full blog here: qz.com/india/1482919/banks-telcos-e-commerce-firms-hire-most-data-analysts-in-india

If you are interested in following more such interesting blogs and technology-related updates, follow DexLab Analytics, a premium analytics training institute headquartered in Gurgaon, Delhi. Grab a data analyst certification today and join the bandwagon of success.

 

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Advancement in Genomics with Artificial Intelligence

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Advancement in Genomics with Artificial Intelligence

Artificial Intelligence is raging hot, and the healthcare industry is not left behind. Reports suggest AI will help the healthcare industry generate $6.7 billion in revenue. In healthcare, genomics is one of the most notable areas that have evolved significantly after the rise of AI. Involving processes like gene editing and sequencing, genomics is largely performed in agriculture, customized medicine industry and animal husbandry.

For artificial intelligence certification courses, reach us at DexLab Analytics

Researchers have long been conducting DNA analysis. However, their initiatives used to be stalled midway because of several challenges – such as the massive size of the genome, high cost, regulatory factors, prediction norms and technology limitations. On top of that, a vast amount of data on genes and genomes further added up to the problem of ostentatiously large amount of patient data. 

Fortunately, today, researchers are better off using machine learning for genomics – they can now perform gene synthesis, construct precision and personalized medicines and understand the genetic makeup of each orgasm amongst others.

Major Development Highlights

  • Elevation Project by Microsoft grabbed eyeballs when its researchers collaborated with a set of biologists from UC Berkeley to assist in gene editing using AI. They decided to combine their efforts and increase efficiency and accuracy of CRISPR technology – which is basically a gene-editing tool for resulting in genetic improvements.

Together, they also launched Elevation, which uses Machine Learning technology to forecast effectively the off-target effects that take place during the process, thus increasing the efficiency of the entire process.

  • Nvidia and Scripps Research Translational Institute (SRTI) improvised their operations for developing deep learning tools and methods. They aim to process and analyze genomic and digital medical sensor data that would increase the use of AI and prevent the spread of diseases, promote health and streamline a host of biomedical research measures.
  • Google released DeepVariant – it is a cutting-edge deep learning model designed to analyze genetic succession. Last year, they devised a new version DeepVariant v0.6, which features brand new accuracy developments that helps get a more accurate picture of an entire genome.
  • Deep Genomics, a budding startup in Canada is found leveraging artificial intelligence to decipher genome and ascertain the most suitable drug therapies based on DNA found on the cell. The company specializes in the field of personalized medicines.

Genomics in India

Following the footsteps of its global partners, India too is slowly maneuvering into the space of AI-powered genomics – several startups, like Artivatic Data Labs are building power in this new field with radical innovations. Another Chennai-based startup, Orbuculum is leveraging AI to predict debilitating diseases and optimize disease diagnosis.

End Note

Major breakthroughs are happening in the new world of genomics. But, of course, understanding human genome and developing genomic medicines is beyond the human capabilities. Often, it needs analysis of millions and millions of data and performs several repetitive tasks for which AI seem to be the most feasible solution. Undeniably, advancements in AI and ML technology have resulted in a comprehensive understanding of genomics – they are the best way to interpret and proceed on genomic data.

FYI: DexLab Analytics is a top-notch artificial intelligence training institute in Gurgaon. It offers excellent in-demand skill training for students, professionals and anyone who is interested in data.

 

The blog has been sourced from ― www.analyticsindiamag.com/when-artificial-intelligence-meets-genomics

 

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How to Build and Maintain Successful Data Science Teams?

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How to Build and Maintain Successful Data Science Teams?

Businesses are becoming smarter. They are unleashing a bigger impact. Driven by innovation and humongous volumes of data, organizations observe market trends and predict customer behavioral patterns – no wonder, this industry is the right place to incubate newer technologies and explore higher horizons.

Data science is the bull’s eye of this new-age industry. It is unabashedly predictive rather than being conclusive. As a result, garnering cross-team collaborations in this particular field of science may turn a bit challenging. A good data science team is a combination of talented professionals, high intellect, powerful body of knowledge and advanced data-tackling skills.

To give you a hand, we’ve rounded up top trends or tips to follow to get to the bottom of the art of running successful data science teams:

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Diversity is the Key

Diverse backgrounds, on-point technical expertise and voluminous domain knowledge is what makes a data science team high on diversity. A healthy concoction of machine learning skills, knowledge in mathematics and statistics and conversational skills is critical for a productive team. Just having one or two skills is simply not enough, anymore!

Structure and Prioritize

Once you have a team by your side, you need to start structuring an operating model. The data needs to be deconstructed into sizeable prioritized slices. After that, every data-related measure should be backed by needful communication – it helps in determining the bottlenecks and devise effective solutions.

Experimentation Helps

Experimentation is crucial as well as important. Unless you experiment, you can never scale new heights and this is equally applicable in data science. In the sprawling field of data science, every project starts with a challenge and a set of hypothesis that addresses it. However, you won’t find any particular roadmap to success. Hence, it opens a lot of room for innovation and experimentation.

Collective Responsibility

Yielding data science initiatives demand absolute cooperation, collaborative responsibilities and fine reporting structures. A healthy coordination between analytics and business teams, specifically IT, is extremely important for overall business success. Data science experts need to collaborate with each other and strike a tone of success.

Data Accuracy

Gain access to data bank and fine-tune the accuracy of your analysis. Business users leverage improved functional tools of analytics for overall business success. Data is the key, and data availability and quality are the pillars on which organizations stand. Therefore, we suggest practice data accuracy for improved data analytics and boost future business goals.

Today, online resources and libraries can help you almost everything. What they cannot do is feed you is the underlying intricacies of data science and how to devise an effective solution utilizing the base knowledge of mathematics, statistics and machine learning technology. For these, you need an expert Data Science Certification – it will help you discover the grey unknown territories of data and educate you on how to tame them.

Reach us at DexLab Analytics – we offer in-demand data science courses for students and professional, both.

 

The blog has been sourced from ― www.analyticsindiamag.com/the-art-of-running-successful-data-science-teams

 

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Data Driven Projects: 3 Questions That You Need to Know

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Data Driven Projects: 3 Questions That You Need to Know

Today, data is an asset. It’s a prized possession for companies – it helps derive crucial insights about customers, thus future business operations. It also boosts sales, predicts product development and optimizes delivery chains.

Nevertheless, several recent reports suggest that even though data floats around in abundance, a bulk of data-driven projects fail. In 2017 alone, Gartner highlighted 60% of big data projects fail – so what leads it? Why the availability of data still can’t ensure success of these projects?

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Right data, do I have it?

It’s best to assume the data which you have is accurate. After all, organizations have been keeping data for years, and now it’s about time they start making sense out of it. The challenge that they come across is that this data might give crucial insights about past operations, but for present scenario, they might not be good enough.

To predict the future outcomes, you need fresh, real-time data. But do you know how to find it? This question leads us to the next sub-head.

Where to find relevant data?

Each and every company does have a database. In fact, many companies have built in data warehouses, which can be transformed into data lakes. With such vast data storehouses, finding data is no more a difficult task, or is it?

Gartner report shared, “Many of these companies have built these data lakes and stored a lot of data in them. But if you ask the companies how successful are you doing predictions on the data lake, you’re going to find lots and lots of struggle they’re having.”

Put simply, too many data storehouses may pose a challenge at times. The approach, ‘one destination for all data in the enterprise’ can be detrimental. Therefore, it’s necessary to look for data outside the data warehouses; third party sources can be helpful or even company’s partner network.

How to combine data together?

Siloed data can be calamitous. Unsurprisingly, data is available in all shapes and is derived from numerous sources – software applications, mobile phones, IoT sensors, social media platforms and lot more – compiling all the data sources and reconciling data to derive meaningful insights can thus be extremely difficult.

However, the problem isn’t about the lack of technology. A wide array of tools and software applications are available in the market that can speed up the process of data integration. The real challenge lies in understanding the crucial role of data integration. After all, funding an AI project is no big deal – but securing a budget to address the problem of data integration efficiently is a real challenge.

In a nutshell, however data sounds all promising, many organizations still don’t know how achieve full potential out of data analytics. They need to strengthen their data foundation, and make sure the data that is collected is accurate and pulled out from a relevant source.

A good data analyst course in Gurgaon can be of help! Several data analytics training institutes offer such in-demand skill training course, DexLab Analytics is one of them. For more information, visit their official site.

The blog has been sourced from ― dataconomy.com/2018/10/three-questions-you-need-to-answer-to-succeed-in-data-driven-projects

 

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How Data Analytics Should Be Managed In Your Company, and Who Will Lead It?

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How Data Analytics Should Be Managed In Your Company, and Who Will Lead It?

In the last couple of years, data management strategies have revolutionized a lot. Previously, the data management used to come under the purview of the IT department, while data analytics was performed based on business requirements. Today, a more centralized approach is being taken uniting the roles of data management and analytics – thanks to the growing prowess of predictive analytics!

Predictive analytics has brought in a significant change – it leverages data and extracts insights to enhance revenue and customer retention. However, many companies are yet to realize the power of predictive analytics. Unfortunately, data is still siloed in IT, and several departments still depend on basic calculations done by Excel.

But, of course, on a positive note, companies are shifting focus and trying to recognize the budding, robust technology. They are adopting predictive analytics and trying to leverage big data analytics. For that, they are appointing skilled data scientists, who possess the required know-how of statistical techniques and are strong on numbers.

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Strategizing Analytical Campaigns

An enterprise-wide strategy is the key to accomplish analytical goals and how. Remember, the strategy should be encompassing and incorporate needful laws that need to be followed, like GDPR. This signifies effective data analytics strategies begin from the top.

C-suite is a priority for any company, especially which looks forward to defining data and analytics, but each company also require a designated person, who would act as a link between C-suite and the rest of the company. This is the best way to mitigate the wrong decisions and ineffective strategies that are made in silos within the organization.

Chief Data Officers, Chief Analytics Officers and Chief Technology Officers are some of the most popular new age job designations that have come up. Eminent personalities in these fetching positions play influential roles in strategizing and executing a successful corporate-level data analytics plan. The main objective of them is to provide analytical support to the business units, determine the impact of analytical strategies and ascertain and implement innovative analytical prospects.

Defensive Vs Offensive Data Strategy

To begin, defensive strategy deals with compliance with regulations, prevention of theft and fraud detection, while offensive strategy is about supporting business achievements and strategizing ways to enhance profitability, customer retention and revenue generation.

Generally, companies following a defensive data strategy operate across industries that are heavily regulated (for example, pharmaceuticals, automobile, etc.) – no doubt, they need more control on data. Thus, a well-devised data strategy has to ensure complete data security, optimize the process of data extraction and observe regulatory compliance.

On the other hand, offensive strategy requires more tactical implementation of data. Why? Because they perform in a more customer-oriented industry. Here, the analytics have to be more real-time and their numerical value will depend on how quickly they can arrive at decisions. Hence, it becomes a priority to equip the business units with analytical tools along with data. As a result, self-service BI tools turns out to be a fair deal. They are found useful. Some of the most common self-service BI vendors are Tableau and PowerBI. They are very easy to use and deliver the promises of flexibility, efficacy and user value.  

As final remarks, the sole responsibility of managing data analytics within an organization rests on a skilled team of software engineers, data analysts and data scientists. Only together, they would be able to take the charge of building successful analytical campaigns and secure the future of the company.

For R Predictive Modelling Certification, join DexLab Analytics. It’s a premier data science training platform that offers top of the line intensive courses for all data enthusiasts. For more details, visit their homepage.

 

The blog has been sourced from — dataconomy.com/2018/09/who-should-own-data-analytics-in-your-company-and-why

 

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Best Data Science Interview Questions to Get Hired Right Away

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Best Data Science Interview Questions to Get Hired Right Away

Data scientists are big data ninjas. They tackle colossal amounts of messy data, and utilize their imposing skills in statistics, mathematics and programming to collect, manage and analyze data. Next, they combine all their analytic abilities – including, industry expertise, encompassing knowledge and skepticism to unravel integral business solutions of meaningful challenges.

But how do you think they become such competent data wranglers? Years of experience or substantial pool of knowledge, or both? In this blog, we have penned down the most important interview data questions on data science – it will only aid you crack tough job interviews but also will test your knowledge about this promising field of study.

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What do you mean by data science?

Data is a fine blend of statistics, technical expertise and business acumen. Together they are used to analyze datasets and predict the future trend.

Which is more appropriate for text analytics – R or Python?

Python includes a very versatile library, known as Pandas, which helps analysts use advanced level of data analysis tools and data structures. R doesn’t have such a feature. Therefore, Python is the one that’s highly suitable for text analytics.

Explain a Recommender System.

Today, a recommender system is extensively deployed across multiple fields – be it music recommendations, movie preferences, search queries, social tags, research and analysis – the recommender system works on a person’s past to build a model to predict future buying or movie-viewing or reading pattern in the individual.

What are the advantages of R?

  • A wide assortment of tools available for data analysis
  • Perform robust calculations on matrix and array
  • A well-developed yet simple programming language is R
  • It supports an encompassing set of machine learning applications
  • It poses as a middleman between numerous tools, software and datasets
  • Helps in developing ace reproducible analysis
  • Offers a powerful package ecosystem for versatile needs
  • Ideal for solving complex data-oriented challenges

What are the two big components of Big Data Hadoop framework?

HDFS – It is the abbreviated form of Hadoop Distributed File System. It’s the distributed database that functions over Hadoop. It stores and retrieves vast amounts of data in no time.

YARN – Stands for Yet Another Resource Negotiator. It aims to allocate resources dynamically and manage workloads.

How do you define logistic regression?

Logistic regression is nothing but a statistical technique that analyzes a dataset and forecasts significant binary outcomes. The outcome has to be in either zero or one or a yes or no.

How machine learning is used in real-life?

Following are the real-life scenarios where machine learning is used extensively:

  • Robotics
  • Finance
  • Healthcare
  • Social media
  • Ecommerce
  • Search engine
  • Information sharing
  • Medicine

What do you mean by Power Analysis?

Power analysis is best defined as the process of determining sample size required for determining an impact of a given size from a cause coupled with a certain level of assurance. It helps you understand the sample size estimate and in the process aids you in making good statistical judgments.

To get an in-depth understanding on data science, enroll for our intensive Data Science Certification – the course curriculum is industry-standard, backed by guaranteed placement assistance.

The blog has been sourced from — intellipaat.com/interview-question/data-science-interview-questions

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3 Potent IoT Challenges That Keeps Data Scientists Always on Toes

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3 Potent IoT Challenges That Keeps Data Scientists Always on Toes

The job responsibility of data scientists is no mean feat. They stay under a lot of pressure. A wide number of stumbling blocks are laid in front of them, which makes it really difficult for them to secure the long-shot business goals and objectives.

As prevention is better than cure – being aware of the challenges always help data scientists plot the shortest and smartest route to success, and we can’t agree more. Brace yourselves! Below, we’ve enumerated some of the challenges data scientists face while getting started with an IoT project:

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Inferior Data Quality

Messy data is life and soul of data scientists. Irrespective of business scale, the job of every data scientist is to organize data in the correct manner. But, however organizing them may require adequate time as well as hard work.

A fundamental rule – avoid manual data, wherever possible. Intelligent data compilation is the final key to high quality data, which is a prerequisite for favorable company operation. It includes crisp communication, regular anomaly detection, logic determination and well-defined industry standards. Another way to tame your data can be through application integration tools – they are a fabulous way to automate data entry and lessen escalation of typographical errors, individual eccentricities, staggering spellings and more from the data.

Once data is in the right format and quality, data scientists can start slicing off the data they don’t need any more, which takes us to the next step.

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Shedding Out Excessive Data

Though big data is found in abundance, too much of data can also pose a substantial challenge. This is why employing superior data selection techniques and minimizing features are supported, they help eliminate unwanted chaos cutting through what matters the most.

What happens is that when data becomes excessively large, we often end up developing high-end predictive models that fails to deliver productive results. But, on the other hand, if you track the events, giving importance to validation and testing routines, the outcomes will spell perfection. And that’s what we are looking forward to.

Predictive Analytics is the Key

IoT has made predictive analytics a daunting reality. Owing to its critical business significance, predictive analytics is quickly accelerating along the priority ladder of IoT stakeholders. However, take a note, this breed of analytics may not be fruitful in every instance. It’s imperative to begin your analytics endeavor by clearly defining your module’s objective, followed by needed research and valuation.

Next, you need to sync in with subject matter pundits to ascertain which predictions will lead you closer to fulfilling the business objectives. Following to this, you have to be sure that you have all the data required to make prediction. In other cases, you can re-set goals, anytime.

Find the best Data Science Courses in Noida… At DexLab Analytics. Get detailed information on the website.

 

The blog has been sourced from — www.networkworld.com/article/3305329/internet-of-things/3-iot-challenges-that-keep-data-scientists-up-at-night.html

 

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How Google Is Fighting Floods in India with AI

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How Google Is Fighting Floods in India with AI

Of late, the search engine giant, Google made a slew of announcements tailor-made for India focusing on new-age technologies, including Artificial Intelligence and Machine Learning. They are to improve response time to natural disasters, such as flood along with address healthcare challenges.

At their recently conducted annual flagship conference Google For India 2018, the search engine giant also revealed the company is eager to use crisis response and SOS alerts to predict natural disasters. Speaking to the context, Rajan Anandan, VP, India and SEA Sales and Operations at Google stated that technology does come to rescue during extraordinary conditions.

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He further added, “India has gone online to rally behind the victims of the Kerala and Karnataka floods. Our Crisis Response team turned on SOS alerts on Google Search in English and Malayalam, and activated Person Finder to help people search for family and friends. Locations of flood relief resources like shelters are being shared on Google Maps. Outside of the tech support, Google.org and Googlers are contributing over $1 million to support relief and recovery efforts. And others are also donating towards the Kerala flood relief on Tez.”

Floods are ravaging; especially in countries India, Bangladesh and China. It’s for them that Google considered it’s high time to devise something to prevent disasters happening in these countries. Thus, the team started seeking ways to implement AI for flood prediction. The recent Kerala flood was an eye-opener. Hundreds have lost their lives and thousands are still living in makeshift relief camps. The numbers say more than 7.8 lakh people are said to be living in these camps across Kerala.

To offer help, Goggle has initiated a steady stream of measures to assist the state. It has activated SOS alerts on Google search, which hooked all the response numbers and emergency resources in languages, English and Malayalam.

Talking about the technology launch, Google Technical Project Manager (TensorFlow) Anitha Vijayakumar was found saying, “We have been doing AI research to forecast and reduce the impact of floods… Floods are the most common disaster on the planet, and with adequate warning, we can greatly reduce the impact of floods. The current modelling systems are only physics-based, and the data is not detailed enough, while Google is using a system that combines physics modelling plus AI learning, and combines that with elevation and satellite map data.”

In addition, “We also activated Person Finder in English and Malayalam, to help people search and track family and friends – on last count, there were 22,000 records in person finder. We also extended this information on Google Maps to aid the rescue efforts,” said Rajan Anandan, Vice President of Google (South East Asia and India).

He further added that Google Tez’s (the notable payment) donation drive has so far raised USD 1.1 million towards Kerala Chief Minister Relief Fund. Also, Googlers and Google.org has donated USD 1 Million for recovery schemes and relief measures.

Now, that you are reading this blog, it means you are interested in the broad scopes of artificial intelligence and power it brings with it. Get enroll in Big Data Hadoop training in Gurgaon; DexLab Analytics offer state of the art Big Data Hadoop certification courses that’ll take you a step closer to fulfilling your dreams.

 

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Citizen Data Scientists: Who Are They & What Makes Them Special?

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Citizen Data Scientists: Who Are They & What Makes Them Special?

Companies across the globe are focusing their attention on data science to unlock the potentials of their data. But, what remains crucial is finding well trained data scientists for building such advanced systems.

Today, a lot many organizations are seeking citizen data scientists – though the notion isn’t something new, the practice is fairly picking up pace amongst the industries. Say thanks to a number of factors, including perpetual improvement in the quality of tools and difficulty in finding properly skilled data scientists!

Gartner, a top notch analyst firm has been promoting this virgin concept for the past few years. In 2014, the firm predicted that the total number of citizen data scientists would expand 5X faster than normal data scientists through 2017. Although we are not sure if the number forecasted panned out right but what we know is that the proliferating growth of citizen data scientists exceeded our expectations.

Recently, Gartner analyst Carlie Idoine explained a citizen data scientist is one who “creates or generates models that use advanced diagnostic analytics or predictive and prescriptive capabilities, but whose primary job function is outside the field of statistics and analytics.” They are also termed as “power users”, who’ve the ability to perform cutting edge analytical tasks that require added expertise. “They do not replace the experts, as they do not have the specific, advanced data science expertise to do so. But they certainly bring their OWN expertise and unique skills to the process,” she added.

Of late, citizen data scientists have become critical assets to an organization. They help businesses discover key big data insights and in the process are being asked to derive answers from data that’s not available from regular relational database. Obviously, data can’t be queried through SQL, either. As a result, citizen data scientists are found leveraging machine learning models that end up generating predictions from a large number of data types. No wonder, SQL always sounds effective, but Python statistical libraries and Jupyter notebooks helps you further.

 A majority of industries leverages SQL; it has been data’s lingua franca for years. The sheer knowledge of how to write a SQL query to unravel a quiver of answers out of relational databases still remains a crucial element of company’s data management system as a whole lot of business data of companies are stored in their relational databases. Nevertheless, advanced machine learning tools are widely gaining importance and acceptance.

A wide array of job titles regarding citizen data scientists exists in the real world, and some of them are mutation of business analyst job profile. Depending on an organization’s requirements, the need for experienced analysts and data scientists varies.

Looking for a good analytics training institute in Delhi? Visit DexLab Analytics.

DataRobot, a pioneering proprietary data science and machine learning automation platform developer is recently found helping citizen data scientists through the power of automation. “There’s a lot happening behind the scenes that folks don’t realize necessarily is happening,” Jen Underwood, a BI veteran and the recently hired DataRobot’s director of product marketing said. “When I was doing data science, I would run one algorithm at a time. ‘Ok let’s wait until it ends, see how it does, and try another, one at a time.’ [With DataRobot] a lot of the steps I was taking are now automated, in addition to running the algorithms concurrently and ranking them.”

To everyone’s knowledge, Big Data Analytics is progressing, capabilities that were once restricted within certain domains of professionals are now being accessible by a wider pool of interested parties. So, if you are interested in this new blooming field of opportunities, do take a look at our business analyst training courses in Gurgaon. They would surely help you in charting down a successful analyst career.

 

The blog has been sourced from — datanami.com/2018/08/13/empowering-citizen-data-science

 

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