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Big Data is the New Obsession of Small Business Owners

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Big Data is the New Obsession of Small Business Owners

While this may seem somewhat counterintuitive, but instead of large organizations, it is actually small business owners and midsize companies who tend to be more inclined towards the applications of Big Data. They are also the first to adopt these latest technological innovations of which analytics is no exception – as these internet and data based insights are highly accessible and also affordable for SMBs.

As per the researchers in the fields of technology, the entry level capabilities in such fields like analytics has abruptly dropped which is why almost all types of industries from an array of sectors are engaging with them to enhance their competitiveness; and the wheels have already started to roll when it comes to increasing overall global competitiveness. Continue reading “Big Data is the New Obsession of Small Business Owners”

Big Data Hacks: 5 Amazing Free Data Sources

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Big data hacks: 5 amazing free data sources

With the data explosion revealing a continuum of numbers and facts and figures across the web and across businesses, it is of no doubt that data is omnipresent. But as the saying goes, sometimes it is hard to see the forest due to all the trees.  A big myth among several companies is that they need to hire data analysts to look for their own data for analysis and to reap the benefits from Big Data analytics. But you must realize that this is far from the truth.

There are more than hundreds in fact even thousands of free data sets available for analysis and use for those who are smart enough to know where to look for them. Here is a list of 5 most popular free data set sources that are widely used globally. There are several more out there for those who are keen enough to look for them.

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  • Data.gov: in compliance to the promise made by the US government last year all the government data is available for free on the internet in this site. The site is a useful source of information on everything starting from numbers in association to crime to climate change and much more.
  • Socrata: another great place to get scoop on the latest government related data along with some useful visualization tools that come built into the web portal.
  • org another place to access government data for free. One can get access to government data from the US, Canada, EU, CKAN and more.
  • World Health Organization data portal: a place to access all the statistics of hunger, health and disease of the world can be accessed here.
  • FaceBook Graph: FaceBook over the past few years has tightened their security and privacy settings. But there are still some amounts of data open to eyes without any privacy. And FaceBook provides information and access to all this data with their Graph API. While users may not be happy to share them with the world, they probably have not yet figured out how to hide them.

A bonus free data source that could also be fun to explore.

Face.com: get face recognition data with this fascinating tool and analyze possibilities like the creator.

These days a lot of forward thinking companies are trying to data driven, but they may not have ample resources to get their own data right away. So, it may be a good idea to begin with these publicly available free data sources. The best tip for data scientists is to learn to ask the right questions to get the right answers.

For more updates on big data hadoop training, follow DexLab Analytics. They are a premier big data training institution offering intensive career courses.

 

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Credit Risk Managers Must use Big Data in These Three Ways

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Credit risk managers must use Big Data in these three ways

While the developed nations are slowly recovering from the financial chaos of post depression, the credit risk managers are facing growing default rates as household debts are increasing with almost no relief in sight. As per the reports of the International Finance which stated at the end of 2015 that household debts have risen to by USD 7.7 trillion since the year 2007. It now stands at the heart stopping amount of a massive USD 44 trillion and the amount of debts increased in the emerging markets is of USD 6.2 trillion. The household loans of emerging economies calculating as per adult rose by 120 percent over the period and are now summed up to USD 3000.

To thrive in this market of increasing debts, credit risk managers must consider innovative methods to keep accuracy in check and decrease default rates. A good solution to this can be applying the data analytics to Big Data. Continue reading “Credit Risk Managers Must use Big Data in These Three Ways”

The Worst Techniques To Build A Predictive Model

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While some of these techniques may be a little out of date and most of them have evolved over time greatly, for the past 10 years rendering most of these tools completely different and much more efficient to use. But here are few bad techniques in predictive modelling that are still widely in use in the industry:

 

Predictive Model

 

1. Using traditional decision trees: usually too large decision trees are usually really complex to handle and almost impossible to analyze for even the most knowledgeable data scientist. They are also prone to over-fitting which is why they are best avoided. Instead we recommend that you combine multiple small decision trees into one than using a single large decision tree to avoid unnecessary complexity.

Continue reading “The Worst Techniques To Build A Predictive Model”

The evolution of Big Data in business decision making

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The evolution of Big Data in business decision making

Big Data is big. We have all established that, and now we know that all the noise about Big Data is not just hype but is reality. The data generated on earth is doubling in every 1.2 years and the mountainous heap of data keep streaming in from different sources with the increase in technology.

Let us look at some data to really understand how big, Big Data is growing:

  • The population of the world is 7 billion, and out of these 7 billion, 5.1 billion people use a smart phone device
  • On an average every day almost 11 billion texts are sent across the globe
  • 8 million videos are watched on YouTube alone
  • The global number of Google searches everyday is 5 billion

But the balance has long been tipped off as we have only been creating data but not consuming it enough for proper use. What we fail to realize is the fact that we are data agents, as we generate more than 25 quintillion bytes of data everyday through our daily online activities. The behaviors that add more numbers to this monstrous hill of data are – online communications, consumer transactions, online behavior, video streaming services and much more.

The numbers of 2012 suggest that world generated more than 2 Zetabytes of data. In simpler terms that is equal to 2 trillion gigabytes. What’s more alarming is the fact that by the year 2020, we will generate 35 trillions of data. To manage this growing amount of data we will need 10 times the servers we use now by 2020 and at least 50 times more data management systems and 75 times the files to manage it all.

The industry still is not prepared to handle such an explosion of data as 80 percent of this data is mainly unstructured data. Traditional statistical tools cannot handle this amount of data, as it is not only too big, but is also too complicated and unorganized to be analyzed with the limited functions offered by traditional statistical analysis tools.

In the realm of data analysts there are only 500 thousand computer scientists, but less than 3000 mathematicians. Thus, the talent pool required to effectively manage Big Data will fall short by at least 100 thousand minds prepared to untangle the complex knots of intertwined data hiding useful information.

But to truly harness the complete potential of Big Data we need more human resource and more tools. For finding value we need to mine all this data.

Then what is the solution to this even bigger problem of tackling Big Data? We need Big Data Analytics. This is more than just a new technological avenue, but on the contrary this is fresh new way of thinking about the company objectives and the strategies created to achieve them. True understanding of Big data will help organizations understand their customers. Big Data analytics is the answer behind where the hidden opportunities lie.

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A few advanced tools that are currently in use in the data analysis industry are: SAS, R Programming, Hadoop, Pig, Spark and Hive. SAS is slowly emerging to be an increasingly popular tool to handle data analysis problems, which is why SAS experts are highly in-demand in the job market presently. To learn more about Big Data training institutes follow our latest posts in DexLab Analytics.

 

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How Can Big Data Impact the Lives of Students?

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According to figures released by IBM opine that no less than 2.5 quintillion bytes created on a daily basis. Also it is worthwhile to note that a whopping 90% of the total data in the world have been created only in last two years.

In simple terms data is just pieces of information. The highly prominent concept of our times owes its origins to large data amounts which are derived from all sorts of computing devices. This data is then stored, collated and combined with the sophisticated tools for analytics available today.

Big Data is helpful to a broad spectrum of people from marketers to researchers. It helps them to understand the world around them and take optimized action through insights. Students too stand to benefit from Big Data a great deal and in this post we look at two ways through which Big Data may affect the lives of students.

It Helps To Be More Effective

Teachers have always been an informed lot, using data in order to optimize the practices and methods, Big Data facilitates the creation of far more powerful ways through which teachers and students may connect. As the focus shifts towards personalized learning, teachers are in a position to utilize more data than ever before.

This may be achieved through monitoring of study materials and how they are used by students in order to deliver more targeted instruction. With Big Data teachers will be able to better understand the needs of students and adapt lessons effectively and swiftly and in the end make decisions about enhanced learning for students, driven on the basis of data.

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There is a Huge Demand for Data Scientists

Data Science was dubbed as the sexiest job of this century by Harvard Business Review and with good reason. People are just beginning to explore the possibilities enabled by Big Data and the need of skilled people in the field will only continue to increase in the years to come. Data Scientists have the ability to mine through data to the benefit of their employers including but not restricted to governments, businesses and of course, the academia.

McKinsey Global Institute reported that by 2018 there will be a shortage of no less than 190,000 persons with skills in deep analytics in the United States of America alone. There is no shortage for opportunities in this field and there are numerous programs all over the world that smooth out the career transition to Big Data. Work arrangements that display flexibility, more than decent compensation packages and the opportunity to make a significant impact are the added bonuses that go along being a data scientist.

We may conclude by saying that though Big Data is still emerging it held by most experts to be the undeniable future not only for those pursuing studies in data science and making careers in the field but to all the people whose lives are changed for the better through Big Data.

 

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How Data Scientists Take Their Coffee Every Morning

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How Data Scientists Have Their Coffee

To a data scientist we are all sources of data, from the very moment we wake up in the morning to visit our local Starbucks (or any other local café) to get our morning coffee and swipe the screen of our tablets/iPads or smart phones to go through the big headlines for the day. With these few apparently simple regular exercises we are actually giving the data scientists more data which in-turn allows them to offer tailor-made news articles about things that interest us, and also prepares our favorite coffee blend ready for us to pick up every morning at the café.

The world of data science came to exist due to the growing need of drawing valuable information from data that is being collected every other day around the world. But is data science? Why is it necessary? A certified data scientist can be best described as a breed of experts who have in-depth knowledge in statistics, mathematics and computer science and use these skills to gather valuable insights form data. They often require innovative new solutions to address the various data problems.

Data Science: Is It the Right Answer? – @Dexlabanalytics.

As per estimates from the various job portals it is expected that around 3 million job positions are needed to be fulfilled by 2018 with individuals who have in-depth knowledge and expertise in the field of data analytics and can handle big data. Those who have already boarded the data analytics train are finding exciting new career prospects in this field with fast-paced growth opportunities. So, more and more individuals are looking to enhance their employability by acquiring a data science certification from a reputable institution. Age old programs are now being fast replaced by new comers in the field of data mining with software like R, SAS etc. Although SAS has been around in the world of data science for almost 40 years now, but it took time for it to really make a big splash in the industry. However, it is slowly emerging to be one the most in-demand programming languages these days.What a data science certification covers?

Tracing Success in the New Age of Data Science – @Dexlabanalytics.

This course covers the topics that enable students to implement advanced analytics to big data. Usually a student after completion of this course acquires an understanding of model deployment, machine language, automation and analytical modeling. Moreover, a well-equipped course in data science helps students to fine-tune their communication skills as well.

Keep Pace with Automation: Emerging Data Science Jobs in India – @Dexlabanalytics.

Things a data scientist must know:

All data scientists must have good mathematical skills in topics like: linear algebra, multivariable calculus, Python and linear algebra. For those with strong backgrounds in linear algebra and multivariable calculus it will be easy to understand all probability, machine learning and statistics in no time, which is a requisite for the job.

More and more data-hungry professionals are seeking excellent Data Science training in Delhi. If you are one of them, kindly drop by DexLab Analytics: we are a pioneering Data Science training institute. Peruse through our course details for better future.

 

Interested in a career in Data Analyst?

To learn more about Data Analyst with Advanced excel course – Enrol Now.
To learn more about Data Analyst with R Course – Enrol Now.
To learn more about Big Data Course – Enrol Now.

To learn more about Machine Learning Using Python and Spark – Enrol Now.
To learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now.
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now.

5 Online Sources to Get Basic Hadoop Introduction

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Basic Hadoop Courses

Big data Hadoop courses are hitting it big in the world of business whether it is healthcare, manufacturing, media or marketing. Data is generated everywhere, and Hadoop is a readily available open source Apache software program that can be utilized to crunch and store Big Data sets.

As per reports from the Transparency Market Research the forecast shows a promising growth opportunity from the existing USD 1.5 million back in 2012 to USD 20.8 million within 2018. These promising growth numbers suggest that there will be an increased need for human resources to manage, develop and oversee all the Hadoop implementations.

#BigDataIngestion: DexLab Analytics Offers Exclusive 10% Discount for Students This Summer

DexLab Analytics Presents #BigDataIngestion

Many experts believe that one can learn any new subject by simple self-study if only you invest enough time and sincere predisposition towards a topic. After all self-study is actually what a person does to acquire knowledge about any given topic. Be it how to fix a leaky faucet or learn a new language or learn strum a guitar. Studying is on one’s own in any case. But to be an expert in a given field, you have to study on your own while you also need to invest your energy in the right direction. And to know the right direction, you need a mentor or a guide to lead the way.

But if you want to test the waters, and tinker with Hadoop to understand its basics, you can go through the wide range of documents available at the Apache Hadoop website for your perusal. Also try downloading the Hadoop open source release to get the feel of the program while tinkering with different features.

Here are 5 online sources where you can seek some basic introduction to Hadoop for big data:

  1. IBM’s open sources, Hadoop Big Data for the Impatient is a good option to go through the basics of Hadoop. It also offers a free download of Hadoop image (you might need Cloudera) to help you work with examples of Hadoop-based problems. You will also be able to get an idea of Hive, Oozie, Pig and Sqoop. The course is available in Vietnamese, Chinese, Spanish and Portuguese.
  2. Cloudera offers a Cloudera essentials course for Apache Hadoop. Apache Hadoop chapter wise video tutorials are available with Cloudera essentials. But this course is mainly targeted at administrators and those who are well-acquainted with data science, to update their skills on the subject.
  3. YouTube also offers a long list of videos on Hadoop topics for beginners. Some are good while others may not be so helpful for the Hadoop virgins. Simply type Hadoop and you will find a never-ending list of videos related to Hadoop. Some are quite useful for clarifying simple doubts related to Hadoop.
  4. Udemy is another site where you can get some free videos as well as a few for a fee. Simply put Hadoop free on the search bar at their homepage and see what comes up.
  5. Udacity was developed by Silicon Valley giants like FaceBook, Cadence, Twitter and the likes. They offer a 14-day free trial with free course materials. But you will need to pay for the course if you do not finish the course within 14 days.

 

Seeking a good and reliable Hadoop training in Delhi? When DexLab Analytics is here, why look further! Being a recognized Big Data Hadoop institute in Gurgaon, the courses are truly interesting.

 

Interested in a career in Data Analyst?

To learn more about Machine Learning Using Python and Spark – click here.
To learn more about Data Analyst with Advanced excel course – click here.
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To learn more about Big Data Course – click here.

Big Data- Down to the Tidbits

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Any data difficult to process or store on conventional systems of computational power and storage ability in real time is better known as Big Data. In our times the growth of data to be stored is exponential and so are its sources in terms of numbers.

Big Data has some other distinguishing features which are also popularly known as the six V’s of Big Data and they are in no particular order:

  • Variable: In order o illustrate the variable nature of Big Data we may illustrate the same through an analogy. A single item ordered from a restaurant may taste differently at different times. Variability of Big Data refers to the context as similar text may have different meanings depending on the context. This remains a long-standing challenge for algorithms to figure out and to differentiate between meanings according to context.
  • Volume: The volume of data as it grows exponentially in today’s times presents the biggest hurdle faced by traditional means of systems for processing as well as storage. This growth remains very high and is usually measured in petabytes or thousands of terabytes.
  • Velocity: The data generated in real time by logs, sensors is sensitive towards time and is being generated at high rates. These need to be worked upon in real time so that decisions may be made as and when necessary. In order to illustrate we may cite instances where particular credit card transactions are assessed in real time and decided accordingly. The banking industry is able to better understand consumer patterns and make safer more informed choices on transactions with the help of Big Data.

Big Data & Analytics DexLab Analytics

  • Volatile: Another factor to keep in mind while dealing with Big Data is how long the particular data remains valid and is useful enough to be stored. This is borne out by necessity of data importance. A practical example might be like a bank might feel that particular data is not useful on the credibility of a particular holder of credit cards. It is imperative that business is not lost while trying to avoid poor business propositions.
  • Variety: The variety of data makes reference to the varied sources of data and whether it is structured or not. Data might come from a variety of formats such as Videos, Images, XML files or Logs. It is difficult to analyze as well as store unstructured data in traditional systems of computing.

Most of the major organizations that are found in the various parts of the world are now on the lookout to manage, store and process their Big Data in more economical and feasible platforms so that effective analysis and decision-making may be made.

Big Data Hadoop from Apache is the current market leader and allows for a smooth transition. However with the rise of Big Data, there has been a marked increase in the demand for trained professionals in this area who have the ability to develop applications on Big Data Hadoop or create new data architectures. The distributed model of storage and processing as pursued by Hadoop gives it a greater advantage over conventional database management systems.

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