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Data Science: Is It the Right Answer?

‘Big Data’, and then there is ‘Data Science’. These terms are found everywhere, but there is a constant issue lingering with their effectiveness. How effective is data science? Is Big Data an overhyped concept stealing the thunder?

Summing this up, Tim Harford stated in a leading financial magazine –“Big Data has arrived, but big insights have not.” Well, to be precise, Data Science nor Big Data are to be blamed for this, whereas the truth is there exists a lot of data around, but in different places. The aggregation of data is difficult and time-consuming.

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Statistically, Data science may be the next-big-thing, but it is yet to become mainstream. Though prognosticators predict 50% of organizations are going to use Data Science in 2017, more practical visionaries put the numbers closer to 15%. Big Data is hard, but it is Data Science that is even harder. Gartner reports, “Only 15% organizations are able to channelize Data Science to production.” – The reason being the gap existing between Data Science expectations and reality.

Big Data is relied upon so extensively that companies have started to expect more than it can actually deliver. Additionally, analytics-generated insights are easier to be replicated – of late, we studied a financial services company where we found a model based on Big Data technology only to learn later that the developers had already developed similar models for several other banks. It means, duplication is to be expected largely.

However, Big Data is the key to Data Science success. For years, the market remained exhilarated about Big Data. Yet, years after big data infused into Hadoop, Spark, etc., Data Science is nowhere near a 50% adoption rate. To get the best out of this revered technology, organizations need vast pools of data and not the latest algorithms. But the biggest reason for Big Data failure is that most of the companies cannot muster in the information they have, properly. They don’t know how to manage it, evaluate it in the exact ways that amplify their understanding, and bring in changes according to newer insights developed. Companies never automatically develop these competencies; they first need to know how to use the data in the correct manner in their mainframe systems, much the way he statisticians’ master arithmetic before they start on with algebra. So, unless and until a company learns to derive out the best from its data and analysis, Data Science has no role to play.

Even if companies manage to get past the above mentioned hurdles, they fail miserably in finding skillful data scientists, who are the right guys for the job in question. Veritable data scientists are rare to find these days. Several universities are found offering Data Science programs for the learners, but instead of focusing on the theoretical approach, Data Science is a more practical discipline. Classroom training is not what you should be looking for. Seek for a premier Data analyst training institute and grab the fundamentals of Data Science. DexLab Analytics is here with its amazing analyst courses in Delhi. Get enrolled today to outshine your peers and leave an imprint in the bigger Big Data community for long.

 

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Will GST Boost The Big Data Revolution? The Answer lies Within

It is July 1st, 2017 – the epic day when GST, aka The Goods and Services Tax comes into effect, simplifying the whole tax collection procedure of the nation. From today, there will be a single tax on the supply of goods and services that will replace all other state and central levies. GST is pegged to be one of the most impressive economic tax reforms implemented by PM Narendra Modi to take Bharat to the summit of transparent digitization.

 
Will GST Boost The Big Data Revolution? The Answer lies Within
 

Data is crucial. While it ushers in a greater transparency and simplified tracking through data, it also unleashes the requirement for Data Analytics and ERP solutions. Besides, GST includes several billing software and payment gateway channelization, triggering plenitude of job opportunities in the IT sector. Reports say it is going to be a $1 billion opportunity for IT vendors over the next two years. Quite a lot to think about!

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Big Data is the Magic Wand to Cure Healthcare Industry Hiccups

Big Data is the Magic Wand to Cure Healthcare Industry Hiccups

Spurred by advanced Analytics and Big Data technologies, Healthcare industry is going towards a major transformation, of course for the good! The catalyst here is none but our very own, our most favorite Big Data – it is robustly opening all the doors of health and medical science, and the possibilities seem endless.

Electronic Health Records have been around for sometime – numerous systems of variable reliability have been designed to ensure data is more easily accessible as well as transferable between the healthcare professionals, institutions and whatever it is for better patients’ care. With Big Data, scientists are coming up with improved sophisticated methods of incorporating the derived information with the data from innumerable number of health-related sources. The main objective is to make the best use of the relevant information in consultation with the doctors and patients to serve in the best way possible.

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Nowadays, plenty of veritable companies provide systems which not only help in providing the doctors a detailed study of a patient’s medical history but also supply with data that can be used largely for fine treatment purposes. Highlighting correlations between different medical conditions inaccessible before, sparing insights into how these conditions may be influenced by other factors, like treatment methods or in which part of the world they are taking place are some improvements to be witnessed now.

As estimated, 75% of healthcare data is generated from unstructured sources like clinical notes, laboratory tests, emails, telematics, digital devices, imaging and third party sources. This data revolution is brought to you by Big Data, and this is how you can derive the best of its benefits:

Reduce fraud, abuse and waste

We all know how fraud, abuse and waste have been spiking healthcare costs, thanks to data science, the tides are changing now. To ascertain abuse and fraud, insurers require the expertise to analyze large unstructured datasets related to historical claims using machine learning algorithms.

Improve outcomes, embrace Predictive Analysis

Predictive Modeling is helping the health world in detecting the early signs of life threatening diseases, like sepsis. The availability of a vast pool of patients’ data means Predictive Analytics would find not only similar symptoms but also will curate a similar response to a specific medication.

Healthcare Internet of Things

The Internet of Things (IoT) is the aggregation of the increasing number of smart, interconnected, technology-efficient devices and sensors that share data over the internet. In healthcare, IoT refers to the devices that monitor almost all kinds of patient behavior, right from blood pressure to ECG. As per statistics, spending on healthcare IoT could cross $120 billion mark in the coming four years and the possibilities are quite high.

Minimum costs but better patients’ recovery rates

Through data convergence, stream processing and application agility, full-scale digital transformation is now possible in the medical world. Improving patients’ diagnosis is a new milestone achieved in the field of medicines and it has only been possible due to advancement in data science.

 

On this National Doctor’s Day, celebrated on 1st July nationwide, take a big leap in career by enrolling for a Big Data Hadoop course in Gurgaon. DexLab Analytics is the proud name behind such intensive big data training in Delhi, browse through our courses today.

 

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The Big Boost in Big Data Jobs in 2017: What the Study Suggests

Big Data is the new big name in the present tech industry. Day by day, it is burgeoning and becoming capacious for companies, including corporate, SMBs and budding startups. It is also the major reason for better opportunities for people, who want to explore newer career realms across sectors, such as healthcare, banking, education, government, retail and manufacturing.

 

The Big Boost in Big Data Jobs in 2017: What the Study Suggests

 

The current IT industry is passing through a jinxed phase, where a lot of layoff fears are on the airwaves but the field of analytics remains largely unaffected. In fact, the number of analytics jobs in the past one year has nearly doubled, as per a report by Analytics India Magazine – a platform for big data, analytics and data science and Edvancer Eduventures – an online analytics training institute. The Analytics & Data Science India Jobs Study 2017 has predicted nearly 50000 positions related to analytics are at present available to be filled in India.

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Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data

Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data

 

Bored of the same old fitness routine?

 

This International Yoga Day, dust off your yoga mat and take a holistic approach to health and wellbeing. Continue reading “Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data”

Big Data Salary Report 2017: A Gateway to a Great Career in Analytics

Big Data Salary Report 2017
 

In the US, big data engineer salaries are predicted to range between $135000 and 196000 in 2017, an increase of 5.8% from 2016 salary structure.

 

In India, big data professionals are predicted to earn salaries in the range of 9.8L INR to 13.10L INR, increasing 6.4% over 2016 salary level.

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What to Expect: Top 4 Hadoop Big Data Trends 2018 Reigning the Healthcare Industry

What to Expect: Top 4 Hadoop Big Data Trends 2018 Reigning the Healthcare Industry

Of late, we have been scrounging through plenty of news about healthcare challenges and gruelling choices confronted by hospital authorities, administrators, researchers, pharmaceutical in-charges and clinicians. Coupled with that, consumers are battling increased costs without corresponding enhancement in health security or in the authenticity of clinical consequences.

However, just as every dark cloud has a silver lining – the healthcare industry is now at the threshold of a major transformation using the stroke of luck Big Data and Hadoop.

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In this blog, we are going to brash about 4 above the rest big data trends in 2018, and trust me they are mind blowing:

The patient is the king (well not literally!)

A supreme objective of modern healthcare facilities is to offer value-based and patient-centric service with the use of veritable health information technology in order to:

  • Improve healthcare coordination and quality
  • Lessen healthcare costs
  • Offer support for reclaimed payment structures

By leveraging information technology and concentrating on healthcare systems on patient results, a spectrum of doctors, health insurance, care and hospitals need to correspond with each other to customize care that is price effective, efficient in quality, transparent in delivery and billing and based on patient satisfaction level.

 

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IOT is omnipresent, so why leave healthcare

If reports are right, over $120 billion has been spent on healthcare IOT over 4 years, ONLY. Most of the data derived by the healthcare IOT is unstructured, thus helming ways for the use of Hadoop and advanced big data analytics relying on Hadoop framework.

healthcare-Internet-of-things

Advanced monitoring devices interacting with other patient devices could possibly reduce the chances of direct doctor’s intervention, and might substitute it with a phone call from the nurse. Moreover, other smart devices installed can detect if medicines have been consumed regularly at home from smart dispensers. In the event of failure, the device will instantly initiate a call to help patients take medications, properly. From this, you can understand the costs will fall drastically, while improving the patient care.

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Call for cleansing – Curb waste, abuse and fraud

After suffering from spiralling healthcare costs for years, big data is a solace to our finances. By initiating predictive modelling structured on the Hadoop big data platform, identification of erroneous claims in a systematic and repeatable is possible, resulting in a generation of 2200% return on advanced big data technology.

 

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Now, the healthcare organisations can inspect and evaluate patient records and billing anomalies and identify frauds. It has been made possible by going back in time to analyse unstructured datasets and implement machine learning algorithms to detect the inconsistencies.

Predict better outcomes with predictive analytics

Predictive Modelling is being used worldwide, by deriving data from EHRs (Electronic Health Records) to reduce mortality rates from diseases like congestive heart failure and sepsis. As you all know, Congestive Heart Failure (CHF) is one of the costliest health problems and needs huge healthcare spending. So, the earlier it is diagnosed the better it is, without getting into the expensive complications.

Predictive analytics combined with machine learning on large sample sizes, containing more patients’ data can expose all the nuances and sequences that couldn’t be uncovered previously.

 

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Concisely, the more healthcare organizations adopt Hadoop and advanced big data technology, the more profound will be the data dissemination across teams and partners, which will further boost patients’ easy cure and reduction in costs.

Promote your analytic skills with Big Data Hadoop certification in Gurgaon, offered by DexLab Analytics. Embrace and enrol for Hadoop certification in Delhi today, as the future is going to be ruled by Big Data.

 

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Tigers will be safe in the hands of Big Data Analytics

Once again, good news is in the air for our very own ‘Big Cats’. The very recent reports on Tiger Census have proudly announced the incredible rise in the number from 1,706 to 2, 226 since 2010, when the counting started.

 
Tigers-will-be-safe-in-the-hands-of-Big-Data-Analytics
 

The previous years have seen the major downfall in the number owing to reasons like poaching, environmental degradation, dwindling habitats and of course man- nature conflict . But in contrast, the combined efforts put forwarded by local communities, conservationists and the Government has resulted in the upliftment, as stated by Marco Lambertini, Director General of WWF International.

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Power BI is The New Revolutionary Tool For Business! This is Why

Power BI is The New Revolutionary Tool For Business! This is Why

Microsoft launched its Power BI tool quite some time ago now, and the way things seem to advance is pretty amazing to say the least. This is a great Business Intelligence and analytics tool and it seems it is only a matter of time before the Power BI becomes the tool of choice for Business Intelligence and analytical works in almost all of the foresighted corporations.

This is a powerful BI tool now available in the hands of enterprises, who are looking to extract data from multiple disparate sources in order to derive meaningful insights from it. The tool offers unprecedented interactive visualization opportunities along with true self-servicing analytical capacities.

With all of these it helps the whole look of the same data to appear from varying angles and also allows the reports and dashboards to be made by anybody within the organization without assistance from IT administrators and developers.

The international analytics and BI market is to reach the mark of  USD 16.9 Billion in 2016 says Gartner!

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Power BI is leading the way in cloud business analytics and intelligence. It offers the services, which can directly be harnessed from the cloud, and it is a huge advantage when it comes to how BI can be utilized. The desktop version of power BI is also available and is known as the Power BI desktop.

The entire range of ordinary tasks can be performed with this Power BI like – data discovery, data preparation, designing of the interactive dashboards. Microsoft also went a step ahead by putting up the embedded version of Power BI in its highly revered Azure cloud platform.

The company already has a pretty good presence in the analytics environment with its popular products like SSAS – SQL Server Analysis Service. However, it did not have any strong presence in the BI delivery system and OLAP segment i.e. Online Analytical Processing.

Excel for a long time has been Microsoft’s attempt at being a presentation layer for its data analysis tools. However, Excel has a lot of disadvantages like limited memory, integrity issues with data which are the main reasons why it is often not very appealing to the corporate clients who want something more malleable for business analytics.

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Data Science Machine Learning Certification

However, a really powerful BI tool is what takes Excel to a great new level; it helps to offer a whole new experience to working with tools like Power Query for data extraction and its transformation. The Power Pivot tool which, is deployed for data analysis and modelling and lastly, the Power View which, is used to map the data and visualize it distinctly in unprecedented ways. With Power Bi one can put all of these tools into a consolidated manner and will make it easier to work without having to depend on to MS Office solely.

In closing thoughts, thus, it is safe to say that Power Bi is putting the right use of power in the right hands of the customers. so, a power BI training can be a good decision for one’s career at this point, for those who consider themselves as a forward-thinking IT professional.

 


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