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How Can You Improve Your Business Figures with Data Lakes

Today, data lakes are springing up here and there. And with that, the composition structure of data lakes is changing. As more and more data are moving towards cloud, data lakes are shifting focus towards cutting edge sources, like NoSQL, while cloud data warehouses are emerging across hybrid deployments.

How Can You Improve Your Business Figures with Data Lakes

A humongous amount of data is being churned out on digital platform each day. IBM says as much as 2.5 quintillion bytes of data is created on a daily basis. Now, this ever-expanding amount of data needs for proper storage system – for that, data lakes have been constructed to hold data in its raw form. In these vast storehouses, data remain mostly in their unstructured state, which is pulled out by data scientists to remodel and transform them into versatile data sets for future use.

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Data Governance: How to Win Over Data and Rule the World

Data is the buzzword. It is conquering the world, but who conquers data: the companies that use them or the servers in which they are stored?

 

Data Governance: How to Win Over Data and Rule the World

 

Let’s usher you into the fascinating world of data, and data governance. FYI: the latter is weaving magic around the Business Intelligence community, but to optimize the results to the fullest, it needs to depend heavily on a single factor, i.e. efficient data management. For that, highly-skilled data analysts are called for – to excel on business analytics, opt for Business Analytics Online Certification by DexLab Analytics. It will feed you in the latest trends and meaningful insights surrounding the daunting domain of data analytics.

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Where Did I Go Wrong Predicting the Bitcoin Boom?

A few years ago, Silicon Valley in San Francisco came under the influence of a new, mysterious thing known as Bitcoin. It swept away the tech enthusiasts off their feet. There were a wide set of rumors that Bitcoin was virtual money, invented by a pseudonymous math stalwart named Satoshi Nakamoto, who would later stir up the structure of modern finance and render government-powered currency antiquated.

 
Where Did I Go Wrong Predicting the Bitcoin Boom?
 

To understand the phenomenon better, I once bought a single Bitcoin long time back, which then involved a strenuous labor-intensive process, where I had to go to CVS and use MoneyGram to wire dollar value of a Bitcoin to a crypto-currency exchange. After a month or so, I decided to sell it off for a slight loss, thoroughly convinced that this virtual money is nothing but just a passing fad.

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Blockchain Technology 101: A Beginner’s Guide

The Blockchain, the brainchild of a single curator or a group of specialists known by the nom de guerre, Satoshi Nakamoto is indisputably a brilliant invention. With the passage of time, it evolved into something greater and more insightful.

 
Blockchain Technology 101: A Beginner’s Guide
 

Drop by DexLab Analytics to know more about Big Data and Data Analytics courses.

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Quantum Internet Is Now Turning Into a Reality

Quantum Internet Is Now Turning Into a Reality
 

Scientists across the globe are looking forward towards formulating new methods to realize ‘quantum internet’, an unhackable internet, which connects particles linked together by the principle of quantum entanglement. In simple terms, quantum internet will entail multiple particles striking information at each other in the form of quantum signals – but specialists are yet to figure out what it actually does beyond that. The term ‘quantum internet’ is quite sketchy at this moment. There’s no real definition of it as of now.

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Google’s DeepMind: Roll the Wheels of Imagination with Advanced AI

Use intelligence to make the world a better place to live in – Google’s London-based AI coterie, DeepMind is a pioneer in artificial intelligence research programs and has churned out two distinct types of AI that uses the ‘power of imagination’ to plan ahead and fulfil tasks with a higher success rate than the previous ones that lacked imagination.

 
Google’s-DeepMind
 

In a recent interview, DeepMind researchers shared a crisp review of “a new family of approaches for imagination-based planning.” I2As, the so-called Imagination-Augmented Agents make use of an internal ‘imagination encoder’, which helps the AI determine what are and what aren’t productive predictions about its atmosphere.

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Business Intelligence: Now Every Person Can Use Data to Make Better Decisions

The fascinating world of Business Intelligence is expanding. The role of data scientists is evolving. The mysticism associated with data analytics is breaking off, making a way for non-technical background people to understand and dig deeper into the nuances and metrics of data science.
 
Business Intelligence: Now Every Person Can Use Data to Make Better Decisions
 

“Data democratization is about creating an environment where every person who can use data to make better decisions, has access to the data they need when they need it,” says Amir Orad, CEO of BI software company Sisense. Data is not to be limited only in the hands of data scientists, employees throughout the organization should have easy access to data, as and when required.

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More Than Fifty Percent Companies Lack Required Tools and Investment for Efficient Business Analytics

More Than Fifty Percent Companies Lack Required Tools and Investment for Efficient Business Analytics

Fifty-nine percent of the companies around the world are not using Predictive Models or Advanced Analytics – says Forbes Insights/Dun & Bradstreet Study.

A recent study by Forbes Insights and Dun & Bradstreet, “Analytics Accelerates Into the Mainstream: 2017 Enterprise Analytics Study,” elucidates the ever-increasing indispensable role that analytics play in today’s business world, all the way from devising strategies to operations. The gloomy Forbes study highlights the crucial need for immediate investment, implementation and prioritization of analytics within companies.

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The survey was carried on more than 300 senior executives in Britain, Ireland and North America and the report illuminates that the leading corporate giants need to invest more on the people, the processes they use and technologies that authorize decision support and decision automation.

Bruce Rogers, chief insights officer at Forbes Media was found quoting, “This study underlines the need for continued focus and investment,” he further added, “Without sophisticated analysis of quality data, companies risk falling behind.”

“All analytics are not created equal,” said Nipa Basu, chief analytics officer, Dun & Bradstreet.  She explained, “This report shows a critical opportunity for companies to both create a solid foundation of comprehensive business data – master data – and to utilize the right kind of advanced analytics. Those that haven’t yet begun to prioritize implementation of advanced analytics within their organizations will be playing catch-up for a long while, and may never fully recover.”

 

Key findings revealed:

Need for tools and best practices

Though data usage and consumption growth brags about success, little sophistication is observed in how data are analysed. Only 23% of the surveyed candidates are found to be using spreadsheets for all sorts of data work, while another 17% uses dashboards that are a little more efficient than spreadsheets.

The survey says mere 41% rely on predictive models and/or advanced analytical and forecasting techniques, and 19% of the respondents implement no analytical tools that are more complicated than fundamental data models and regressions.

Skill deficiency stalling analytics success

Twenty seven percent of respondents diagnosed with skill gaps as a major blocker between current data and analytics efforts. Fifty two percent were found to be working with third-party data vendors to tackle such lacks of skills. Moreover, 55% of the surveyed contestants said that third-party analytics partners performs better than those who works in-house, exhibiting both a shortage of analytics capabilities among in-house analysts and a dearth in skilled workers.

Investment crunch

Survey respondents ticked lack of investment and problems with technology as the top hindrances to fulfilling their data strategy goals. Despite the increasing use of data, investment in deft personnel and technology is lagging behind.

CFO’s introspect into data for careful insights

According to the survey, 63% of those who are in the financial domains shared they are using data and analytics to discover opportunities to fund business growth. Further, 60% of the survey respondents revealed they rely on data to boost long-term strategic planning.

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Concocting Data with GIS

Concocting Data with GIS

In supreme and sophisticated geospatial realm, data have been predominant. Or, should I say it is the matured fosterling of Geographic Information Systems (GIS). Choose, whatever suits you; subject to whom you work for or what you need to work on. The meat and potatoes? To excel on location analytics, concentrate only on the best most current data.

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In today’s world, data is valuable. It is vital and veritable. It is indispensable in Geographic Information Systems (GIS).

To second that, today’s tech-efficient society is anchored on location-based data, than ever, especially with the rise in Twitter, Google, Facebook and other social media apps, which collects and stores data from their highly-valued users to sell them off to money-grubbing advertisers.  Though secretly. On the other hand, cell phones go a step ahead in broadcasting your current location data 24/7. Otherwise, how would your friends know that you are safe when a severe earthquake rattled your neighbouring city! (Thanks to location settings)

Feisty Predicaments

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However, the real challenge lies in data identification and consumption. Countless number of users gets baffled when it comes to finding data, and if found, how to consume it to set off their business determinations. To solve this, many imminent think tanks of tech industry came out with direct and decisive solutions. Some of them were loaded with an abundance of data, i.e. digestible and disintegrated. By disintegration, they meant that the data was categorized into: points of interest, roads, boundaries and demographics, for easy comprehensibility. Furthermore, industry data bundles concerning telecommunications, retail and insurance fields were added to make the coverage global and profitable. To top it off, quality content and sprawling file formats boosted the results and mechanisms, both.

Conflux of GIS and BI

Location technology – Does this ring a bell? Yes? Then you would be familiar with GIS but others, particularly new Business Intelligence users and consumers must have just started taking baby steps on basic mapping. For BI, maps are the backdrop against which business analysts project their business data, stats and analytical information. Analysing the data to understand the insights of consumers is crucial, directly affecting the business decisions and revenues thereby. For example, heat maps, used to see the concentration of installations, customers and IoT devices provides an unparalleled accurateness of spatial relationships, which is impossible to obtain from the spreadsheets.


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One of the integral location analytics issues is to help in identifying the high-risk zones at the time of natural disasters, like tornadoes, earthquakes, floods, hurricanes or mudslides. For example, in the US, the East Coast is vulnerable to a lot of hurricanes and floods, whereas earthquakes and mudslides snap the West Coast time to time. Assessment of these location problems is intrinsically important for mortgage underwriters, insurance agents and public safety departments. And best data along with effective geo-coding is the solution to all the inconveniences. 

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