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Big Data and the Cloud- An Eclectic Mix

Big Data and the Cloud- An Eclectic Mix
The FINRA or The Financial Industry Regulatory Authority, Inc. makes analysis of up to no less than 75 billion events each and every day. It is little wonder then that it finds its data center nearly filled to capacity. FINRA is looking forward to migrating to the cloud in order to continue to provide the protection for investors and continually respond to the market that it is famed for.

According to Matt Cardillo who is the Senior Director at FINRA, they are eyeing the elasticity that is enabled by cloud storage. He further continued also on their radar was an approach change in order to respond to market and volume data change along with changes in the behavior of users. Volatile markets result in usage spikes and also attract a whole lot more of users in their system.

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The surveillance program undertaken by FINRA performs analysis of data for suspicious activities as well as potential fraud. Their algorithms go through and analyze the data for any abnormalities or activities that might not be normal. They have in place alerts and exceptions that take stock of situations and then have access to analytics that help to determine if there is indeed a problem or whether it is a false call.

Stay Ahead of the Big Data Curve

Almost every day a new tool emerges to take stock of Analytics in the brave new world of Big Data Tech. According to Cardillo the kudos for staying ahead of the big data curve goes to the skilled staff at FINRA. He says that his people are innovative and are only too keen to embrace the latest advancements in technology. He confesses that after reverting to the cloud some of their present tech as well as tools will become irrelevant. But they are banking big on open source especially frameworks like Hive, Hadoop and Spark to get most out of the elasticity needed by their business.

 

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The Possibilities of Big Data

It is no secret that Big Data has some wonderful applications that may change the way we interact with businesses, and even more how they interacts with us through other facets of this rapidly growing field. But, what can it do concretely? This blog post shares insights of this question.
 
The Possibilities of Big Data

Endless Possibilities of Big Data

 It can tell you what may most probably happen

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Big Data at Autodesk: 360 Degree view of Customers in the Cloud

The last few years have seen a huge paradigm shift for many software vendors. The move away from a product-based model towards software-as-a-service (SAAS) in the cloud has brought huge changes. The main advantage of moving from a product based model to software-as-a-service is that the companies will be able to identify the service usage of how and why a product is being used. Earlier software companies used to run a survey or focus groups of customer feedback to identify the how and why a product is being used. This customer feedback survey has various limitations on identifying the product usage or where the product improvement has to be made.

Here’s All You Need to Know about Quantum Computing and Its Future

Autodesk was one of the frontrunners in the field, having been experimenting with the cloud based SAAS as far back as 2001 when it is acquired the BUZZSAW file sharing and synchronization service. Since then Microsoft, Adobe and many others moving into a subscription based, on-demand service and Autodesk has done the same with its core computer aided design products.

Software-as-a-service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as on-demand software. On-premise software is the exact opposite where the delivery of product is inside the particular organizations infrastructure.

Understanding how customers use a product is critical to giving them what they want. In a SAAS environment where everything is happening online and in the cloud, companies can gain a far more accurate picture  

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The idea of moving to cloud based subscription model gives the business to understand more about the product usage of customers. This gives them the edge to serve better to the customers. The shift in the industry shall not be ignored. Big Data is really being used now to understand how and where to improve the product.

 

The Indian IT industry is focusing mainly on Cloud, Analytics, Mobile and Social segment to further drive growth. This Software-as-a-service delivery model can certainly give the edge to do data analysis on where and how the product is used.

 

 

There are number of reasons why Software-as-a-service is beneficial to organizations:

 

  • No additional hardware costs, you can buy the processing power or hardware as per the requirement. Do not have to go for high end configuration as there is no requirement. Need based subscription.
  • Usage is scalable. You can scale whenever you require.
  • Applications can be customised.
  • Accessible from any location, rather than being restricted to installations on individual computers an application can be accessed from anywhere with an internet enabled device.

 

The adoption of cloud based delivery model is accelerating mainly because of the analytical capability it gives the business to understand the customers. Analytics rocks!.

 

For state of the art big data training in Pune, look no further than DexLab Analytics. It is a renowned institute that excels in Big data hadoop certification in Pune. For more information, visit their official site.

 

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How Vital Is It to Measure KPIs for Future Success

How Vital Is It to Measure KPIs for Future Success

As I discussed earlier, Analytics is highly quantitative in nature. In this blog, we will discuss about the importance of Key Performance Indicators and how does KPIs help in measuring the organization’s performance and analytics.

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Tips to Make Sense of All The Big Data Around Us, You Can Make a Difference

Tips To Make Sense Of All The Big Data Around Us, You Can Make A Difference

We are all in the midst of the onslaught of information overload in many ways. We create it, transfer it and heartily participate in it. To get a grasp of the actual reality faced by businesses of all sizes, one needs to understand the exact scenario. According to IDC1, “The big data and analytics market will reach $125 billion worldwide in 2015” Further, IDC predicts, “Clearly IoT (Internet of Things) analytics will be hot, with a five-year CAGR of 30%.”

big-data-analytics

Data is created from all the posts made every second globally on social media, the humongous chatter, digital photo sharing, video uploads, online transactions, all the cell phone signals etc. – are all forms of data being generated leading to a massive information overload across servers and of course the cloud platforms.

All this digitization has led to a severe business challenge – so much big data, but how to make sense of all this? How does one use it for any kind of business related decision or direction? The following are some tips to help business make some sense from all this data right within their ambit.

1-Break it down

Big data remains big, unless methods are employed to break it into tiny usable groups of information. Eliminating, cross-referencing and grouping are the first steps to sort out various disparate data bytes.

2-Deduplication

There will always be the challenge of similar data springing up and being stored. Deduplication works as a primary point of ensuring that there is a reduction in the same data coming up for analysis.

3-Technology and its role

The role of specific technology cannot be ignored, when it comes to ensuring that all this big data is streamlined, stored safely and processed using the latest available techniques.

Big Data Landscape

4-Do not discard anything

Even the smallest and seemingly insignificant amount of information may be relevant and hold key insights.

5-Best practices for data analysis

The ecosystem revolving around the actual analysis of the big data needs to evolve into a more standardized format to be used across flexible structures leading to quicker outputs, better results and arriving at useful insights.

6-Having the right talent

This is one of the most important aspects, when it comes to actually making sense of all the data lying around across organizations. This is where trained and certified big data analysts appear.

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Interested in a career in Data Analyst?

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How is big data analytics a strategic part of business decisions today?

(Decode big data analytics and its relevance in today’s business scenario)

How is big data analytics a strategic part of business decisions today?

Businesses are getting increasingly competitive, and thanks to the connected community through multiple devices. The way people are shopping or looking for products or solutions has undergone a paradigm shift. We are living in a changed world in terms of the way technology intersects almost all aspects of business, notwithstanding the size and scale.

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