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Transforming Society with Blockchain and Its Potential Applications Worldwide

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Transforming Society with Blockchain and Its Potential Applications Worldwide

According to Google Search, ‘blockchain’ is defined as “a digital ledger in which transactions made in bitcoin or in other cryptocurrency is recorded chronologically and publicly.”

Speaking in a way of cryptocurrency, a block is a record of new transactions that could mean the actual location of cryptocurrency. Once each block has completed its transaction, it’s added to the chain, creating a chain of blocks known as blockchain.

Suppose a Google spreadsheet is shared by each and every computer which is connected to the internet in this world. When a transaction happens, it will be recorded in a row of this spreadsheet. Just like a spreadsheet has rows, Blockchain consists of Blocks for each transaction.

Whoever has access to a computer or mobile can connect to the internet and can have access to the spreadsheet and add a transaction, but the spreadsheet doesn’t permit anyone to edit the information which is already available. No third party can interfere into its transactions, therefore saves time and conflict.

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Types of Blockchains:

  • Open and permission-less: Public and permissionless blockchains look like bitcoin, the first blockchain. All exchanges in these blockchains are open and no authorizations are required to join these circulated elements.
  • Private and permission: These blockchains are constrained to assigned individuals, exchanges are private, and authorization from a proprietor or supervisor substance is required to join this system. These are frequently utilized by private consortia to oversee industry esteem chain openings.
  • Hybrid blockchains: An extra region is a developing idea of sidechain, which takes into consideration distinctive blockchains (open or private) to speak with each other, empowering exchanges between members crosswise over blockchain systems.

Various Applications Of Blockchain Are As Follows:

a) Smart Contracts:

Smart Contracts eases the way we exchange money, property, shares and avoids third person/party conflicts. Smart keys access can only be permitted to the authorized party. Basically, computers are given the command to control the contracts and to release or hold the funds by giving the keys to the permitted persons.

For example, if I want to rent an office space from you, we can do this in blockchain using cryptocurrency.  You will get a receipt which is saved in the virtual contract and I will get the digital entry key which will reach me by a specified date. If you send the key before the specified date, the function holds it and releases both receipt and the key when the date arrives.

If I receive the key I surely should pay you. And this contract will be canceled when the time gets complete, and it cannot interfere as all the participants will be alerted. The Smart contracts can be used for insurance premiums, financial derivatives, financial services, legal processes etc.

b) Digital Identity:

The future of blockchain will be blooming in the coming years. Blockchain technologies make both managing and tracking digital identities reliable and systematic, resulting in easy registering and minimizing fraud.

Be it national security, citizenship documentation, banking, online retailing or healthcare, identity authentication and authorization is a process entangled in between commerce and culture, worldwide.  Introducing blockchain into identity-based mechanisms can really bring captivating solutions to the security problems we have online.

Blockchain technology is known to offer a solution to many digital identity issues, where identity can be uniquely validated in an undeniable, unchangeable, and secured manner.

Present-day methods involve problematic password-based systems of known secrets which are exchanged and stored on insecure computer systems. Blockchain-based certified systems are actually built on undeniable identity verification for using digital signatures based on the public key related cryptography.

In blockchain identity confirmation, the only check that is performed is to know if the transaction was signed by the authorized private key. It is implied to whoever has access to the private key is the owner and the exact identity of the owner is deemed unrelated.

c) Insurance:

Claims dealing can be disappointing and unrewarding. Insurance agents need to go through deceitful cases and deserted approaches, or divided information sources for clients to express a few – and process these documents manually. Space for mistake is enormous. The blockchain gives an ultimate framework for hazard-free administration and clarity. Its encryption properties enable insurers to represent the ownership to be protected.

“This will be the toughest on the portions of the industry that are least differentiated, where consumers often decide based on price: auto, life, and homeowner’s insurance.” — Harvard Business Review

d) Supply-Chain Communications and Proof-of-Provenance:

The majority of the things we purchase aren’t made by a single organization, yet by a chain of providers who offer their ingredients (e.g., graphite for pencils) to an organization that gathers and markets the final commodity. On the off chance that any of those commodities flops, in any case, the brand takes the brunt of the backfire — it holds most of the duty regarding its supply chain network.

However, consider the possibility that an organization could proactively give carefully perpetual, auditable records that show stakeholders the condition of the item at each esteem included process.

This is not a little task: The worldwide supply chain network is evaluated to be worth $40 trillion; and from a business-process point of view, it’s a fabulously incapable chaos. As a related issue, blockchain can be utilized to track diamonds, creative skill, real estate, and practically any other resources.

e) Music Industry:

While music lovers have hailed digitization as the popular government of the music business, 15.7 billion dollar music industry is confusingly continuing as before. Music piracy through unlawfully downloaded, duplicated and shared content eats into the artist’s sovereignties and music labels’ income. Added to this, is the absence of a vigorous rights administration framework, which prompts loss of income to the artist.

Also, the income, when it really achieves the artist, can take up to two years! Another region of concern is unpaid sovereignties, which are frequently suspended in different stages because of missing data or rights possession. There is additionally an absence of access to continuous advanced sales information, which if accessible can be utilized to strategize advertising efforts more successfully.

These very zones are the place Blockchain can have stunning effects. As a publically accessible and decentralized database that is distributed over the web, Blockchain keeps up lasting and undeletable records in cryptographic format. Exchanges happen over a peer to peer system and are figured, confirmed and recorded utilizing a computerized agreement strategy, disposing of the requirement for an intermediator or outsider to oversee or control data.

The very engineering of Blockchain being unchanging, dispersed and distributed conveys enormous potential to manage the present troubles influencing the music business.

An essential region in which Blockchain can bring out positive change is in the formation of a digital rights database. Digital rights articulation is one of the basic issues distressing the present music industry. Recognizing copyright of a melody and characterizing how sovereignties ought to be part of musicians, entertainers, distributors, and makers are troublesome in digital space. Regularly artists miss out on sovereignties because of complicated copyright condition.

Blockchain’s changeless distributed ledger framework, which guarantees that no single organization can assert proprietorship, ensures an ideal arrangement. Secure documents with all applicable data, for example, structure, versus, straight notes, cover craftsmanship, permitting, and so on, can be encoded onto the Blockchain making a changeless and inerasable record.

f) Government and Public records:

The administration of public services is yet another region, where blockchain can help diminish paper-based procedures, limit fraud, and increment responsibility amongst specialists and those they serve.

Some US states are volunteering to understand the advantages of blockchain: the Delaware Blockchain Initiative propelled in 2016, expects to make a proper legitimate foundation for distributed ledger shares to increase productivity and speed of consolidation administrations.

Illinois, Vermont, and different states have since reported comparative activities. Startup companies are sponsoring in the effort also: in Eastern Europe, the BitFury Group is presently working with the Georgian government to secure and track government records.

Conclusion:

This article focused on the blockchain and its applications in various industries explains challenges and potentials and how people can secure their information digitally without any issues and increasing their ability. As these applications are still under development and yet to be untangled in the future, blockchain could become a powerful tool conducting fair trade, improving business and supporting the society.

To never miss a beat of technology related news and feeds – follow DexLab Analytics. We are a team of experts offering state of the art business analyst training courses in Gurgaon. Not only that, we provide a plethora of machine learning and Hadoop courses too for all the data-hungry candidates. So, drop by and quench your thirst for data from us!

About the Author:

K.Maneesha is an SEO Developer At Mindmajix.com. She holds a masters degree in Marketing from Alliance University, Bangalore. Maneesha is a dog-lover and enjoys traveling with friends on trips. You can reach her at manisha.m4353@gmail.com. Her LinkedIn profile Maneesha Kakulapati.

 

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Python Machine Learning is the Ideal Way to Build a Recommendation System: Know Why

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Python Machine Learning is the Ideal Way to Build a Recommendation System: Know Why

In recent years, recommendation systems have become very popular. Internet giants, like Google, Facebook and Amazon, use algorithms to tailor search results to customer preferences. Any system that has a search bar collects data on a customer’s past behavior and likings, which enable these platforms to provide relevant search results.

All businesses need to analyze data to give personalized recommendations. Hence, developers and data scientists are investing all their energies and mental faculties to come up with perfect recommendation systems. Many of them are of the opinion that Python Machine Learning is the best way to achieve this. Often, building a good recommendation system is considered as a ‘rite of passage’ for becoming a good data scientist!

Delving into recommendation systems:

The first step in the process of building a recommendation system is choosing its type. They are classified into the following types:

  • Recommendation based on popularity:

This is a simplistic approach, which involves recommending items that are liked by the maximum number of users. The drawback of this approach is its complete exclusion of any personalization techniques. This approach is extensively used in online news portals. But in general, it isn’t a popular choice for websites because it bases popularity on entire user pool, and this popular item is shown to everyone, irrespective of personal choice and interest.

  • Recommendation based on algorithms:

This process uses special algorithms that are tailor-made to suit every customer. They are of two types:

  • Content based algorithms:

These algorithms are based on the idea that if a person likes a product then he/she will also like a similar product.  It works efficiently when it is possible to determine the properties of each product. It is used in movie and music recommendations.

  • Collaborative filtering algorithms:

These algorithms are dependent on past behavior and not on properties of an item. For example, if a person X likes items a, b, c and another person Y likes items b, c, d, then it is concluded that they have similar interests and X should like item d and Y should like item a. Because they are not dependent on additional information, collaborative filtering algorithms are very popular. E-commerce giants, like Amazon and Flipkart, recommend products based on these algorithms.

After choosing the type of recommendation system to build, developers need to locate relevant datasets to apply to it. The next step is determining the platform where you’ll build your recommendation system. Python machine learning is the preferred platform.

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Advantages of using Python Machine Learning:

  • Code: Python makes the process of writing code extremely easy and working with algorithms becomes quite convenient. The flexible nature of this language and its efficiency in merging different types of data sets make it a popular choice for application in new operating systems.
  • Libraries: Python encompasses a wide range of libraries in multiple subjects, such as machine learning and scientific computing. The availability of a large number of functions and methods enables users to carry out several actions without having to write their own codes.
  • Community: Python includes a large community of young, bright, ambitious and helpful programmers. They are more than willing to provide their valuable inputs on different projects.
  • Open source: The best part about Python is that it is completely open source and has sufficient material available online that will help a person develop skills and learn essential tips and tricks.

Proficiency in Python is highly advantageous for anyone who wants to build a career in the field of data science. Not only does it come handy in building complicated recommendation systems, it can also be applied to many other projects. Owing to its simplicity, Python Machine Learning is a good first step for anyone who is interested in gaining knowledge of AI.

In the current data-driven world, knowing Python is a very valuable skill. If one’s aim is to collect and manipulate data in a simple and efficient manner, without having to deal with complicated codes, then Python is the standard.

For Machine Learning training in Gurgaon, join DexLab Analytics– it is the best institute to learn Machine Learning Using Python.

 

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Here’s Why Automation Is Gaining Accolades All over the World?

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Here’s Why Automation Is Gaining Accolades All over the World?

Over the last few decades and more, if there’s anything that has continuously evolved, surprising us with something new at each turn, it’s TECHNOLOGY. Technological advancements have come to a point where people and businesses have started relying on Automation.

Automation is the technology by which a process is performed entirely by means of various control systems and equipments without human assistance. The purpose is to enhance productivity, deliver faster results and save costs, depending on the industry and the extent to which automation is being applied.

Automation, which is mostly about streamlining the work process, can take place either by means of implementing intelligence into the existing systems or by replacing the same. Some of these systems operate without human interference while others support humans and pave ways for better productivity.

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Leveraging Automation for Good

How to introduce automation into the workflow and the procedure of doing that has been a matter of concern for most entrepreneurs. Putting machines to work requires certain considerations. Following are a few smart tips for introducing automation to your business and leveraging the most out of it.

  • Putting the machines to work for you necessitates you to implement the automation tools gradually. This should always be followed by a close evaluation of the existing process so that it is applied to where streamlining is needed the most.
  • Automation is an instant success when you start things manually, but sometimes things can take a downturn if you lack enough knowledge of the domain. The switch to automation should be planned ahead with care.
  • Automation is a change that most people will be reluctant to adopt at least initially. So, it is always better to ensure that there is a solid change management strategy in place to make the technology actually make lives easier and not otherwise.

Automation isn’t something NEW ON THE BLOCK

The very notion of automation has been in the minds of entrepreneurs as well as traditionalists for around centuries. For an example, an elevator that’s been in existence for so many years is an automation tool for mobility. Recently, massive breakthroughs have been achieved in this budding field, and cloud computing is one of them. It has driven the cost of storage solutions really down, while pushing machine learning skills to a new high.

In short, while automation has always been more of a IT tool, it’s now finding its footing in other domains within an organization. “Whether it’s a catalog or an app, it now allows me as a consumer to control things when they’re happening,” says Marc Wilkinson, CTO for Workplace and Mobility at DXC.

Automation and employment crunch

As it’s said, automation isn’t about eliminating jobs instead it’s more about creating efficiencies. If the work done in twice the speed, it would be more efficient and employer will benefit from productivity gains and the employees in the event will hit off high-impact projects.

So, in a sense, automation won’t entirely result in lower employee headcount, though it may affect a certain kind of employment. High-touch occupations will witness limited impact. For an instance, hospitals have to very much human-to-human; they can’t go totally automized.

In case, you are thinking of having a career in automation, get enrol in a good Machine Learning Certification course. DexLab Analytics offers some of the best machine learning training in Delhi, NCR region: go check out the course itinerary.

 

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How Algorithms Shape Public Discourse and Opinions?

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The rapid evolution of today’s communication mediums has brought about a radical change in how public opinions are framed and public discourse is conducted. In general, the conventional boundary between public and personal communication has somewhat disappeared.

 
How Algorithms Shape Public Discourse and Opinions?
 

Incredible global platforms, like Google allow us all gain access to information in a blink of an eye. In order to do so, they use computer algorithms that weigh “relevance”, but sometimes the standards do not correspond to the expectation of the users.

 

Custom-fit Relevance

Algorithms function distinctly and descriptively. For an instance, the technology alters “relevance” for a user based on what links he or she has clicked in the past. But still, many users think the results are normative (‘higher’ up in Google results). In several cases, Google’s algorithms determine a massive divergence between content quality and “relevance”.

 

Not only that, owing to their encompassing database, Google and Facebook play a strong role in forming public opinions. 57% of German internet users get access to information about social affairs and politics through Google and other social networks. The researchers from Hamburg-based Hans Bredow Institute quoted in 2016, “the formation of public opinion is no longer conceivable without intermediaries, such as Google and Facebook”.

Keep Engaged

The design elements that Google and other intermediaries use are leading to a structural change in public discourse. Today, publishing is a piece of cake. Anyone can publish anything on the web, but everyone might not find an audience – for the latter, decision-making algorithms are needed. They garner the needed attention. They also determine the relevance of each content piece that goes through various social networks, like Facebook and filter the items that should be displayed for each user. In making an individual’s feed attractive, Facebook runs a detailed analysis and determines which content the user and his or her friends’ likes or prefers to hide. Both signals are important to perform a fairly straightforward analysis.

 

Moreover, Facebook deploys signals that users have no idea about, such as the amount of time they take to look into a single entry in the feed. In other areas too, algorithmic decision-making plays a crucial role, like offering help in legal matters or assessing where and when the police officers are on duty.

Diversity Rules

To guarantee a diversity of media in the public, make sure the algorithmic decision-making processes that determine relevance are diverse in the same manner. The digital discourse is supported by the robust algorithms that constantly ranks and personalize content.

 

To instill transparency to algorithmic decision-making methodologies, follow the steps below:

 

  • Back external researchers, and open platforms and their impacts
  • Support diversity among algorithms
  • Develop and maintain a strong code of ethics among developers
  • Educate users about the importance of the mechanisms used to influence public opinions

 

Coupled with strong industry self-regulation and legislative measures, a true and impartial notion of social and political influences on algorithmic ranking is established, which carries the potential to discover and combat dangers early on.

 

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Are you still craving for more information on algorithms? Yes? Then satiate your data hunger with Machine Learning Using Python courses from DexLab Analytics. Arm yourself with a Machine Learning course online, and hit the notes of success through life!

 

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How VC Firms Are Using Machine Learning to Make Robust Investment Decisions

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How VC Firms Are Using Machine Learning to Make Robust Investment Decisions

Venture capital companies find it hard to pool in interesting investment options – the task is laborious and travel-intensive. But, thanks to machine learning and predictive analytics – they have now started to transform the entire procedure of how an investor builds up a portfolio altogether.

Considering the power of AI’s utility in determining the most fabulous startup investments, InReach Ventures co-founder Roberto Bonanzinga has decided to invest $7 million on respective software that deploys machine learning to identify significant European startups to invest capital into. Following its footsteps, several other VC firms have started doing this, already just to thrive in.

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Rightfully so, AI is an incredible tool that is capable enough to filter out all the unnecessary noise and pull up VCs with potential candidates for sound investment. This makes it easier for entrepreneurs to hit the optimal level of funding and appeal to strong VCs.

AI: An Investment Ally

According to a Social Science Research Network Study, there lies an inherent risk with investing on newbie entrepreneurs, and just only 18% tastes success on their feats. Brand new business owners are ambiguous, they need some scrutiny before investment – for that, AI framework is armed with the required tools and information – it can internalize data to easily derive at conclusions and fasten a success rate to a company on the basis of past industry performance, revenue growth, profit ratios and market size.

As a result, entrepreneurs can tweak their pitches and alter company profiles to better tally with AI, and this how they can start:

Get Deeper

Who doesn’t dream of owning a company that’s a market leader?! However, raising such adequate amount of capital becomes the real challenge. The challenge intensifies when budding entrepreneurs need to attract funds.

For such minority-fronted startups, Alice, a formidable AI platform uses data to decide which businesses are worth funding. Entrepreneurs should implement AI platforms, like Alice to take a deeper look into the key metrics to get a larger picture how their startups are staking up to their tailing rivals who received funding and how well they are functioning.

Tracking Investor Trends Helps

Age-old methods of tracking investment trends are things from the past, because AI and machine learning is changing the entire ball-game. A Berlin-based VC firm Fly Venture plans to target European startups in the seed stage and pre-Series A startups and finally closed its first fund at $41 million. It aims to use machine learning to generate deal flow. This type of technology helps entrepreneurs meet the right investors at right time. After keeping a close eye on the market, it’s about time to utilize the AI-sought information to make sure your company is line with what investors are seeking in a veritable startup partner. This will bear more fruits and less frustration.

Never stop evolving

The best thing about AI is that it never stops improving. Constantly, machine learning is on the move – it analyzes information 24/7 so that entrepreneurs gain access to non-stop updates to tweak their businesses, while pitching for investors.

In a nutshell, to have better insights and cleaner access to data, entrepreneurs need to harness the relentless power of AI. The technology isn’t eating away our jobs, instead its bringing a new change in the data-inspired environment. And if you are already working with it, you’ll understand how it’s reshaping and guiding venture capital to startups that AI finds worthwhile.

To grasp emerging trends, newer solutions, robust techniques and real-life case studies, take up Machine Learning Using Python courses from DexLab Analytics. Their Machine Learning Training Gurgaon simply gives an out of the world experience, thus need to be tried on.

 

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How Machine Learning Coupled With Data Science Improves Retail Scenario (Part II)

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This blog is a continuation of the previous blog that talked about how data science is improving retail – through cutting edge machine learning training models. For sure, retail and ecommerce churns out a humongous amount of data, but with no proper tool of analysis, the vast pool of data lies unutilized, unearthed and you end up knowing what you already know.

How Machine Learning Coupled With Data Science Improves Retail Scenario (Part II)

In this blog, we will delve into a few common uses of data science in retail – which demands absolute attention, before we start automating procedures.

Product Recommendations

In a traditional shop setup, retailers would have consultants who would understand customer requirements and use their own judgments to help them find a suitable product. In an online scenario, this would be based on past performance and revenue generation and the sole aim would be to pitch the highest selling product. Not only historical purchases and recent online activity, but consumer’s social media and online sharing would give more idea about their interests, preferences and designer they like.

Sometimes, we also come across ghost clients – clients about whom we have no information, in fact, we don’t even know from where they are browsing. In this case, your recommendations would be based on intuition and might not be 100% accurate.  The deal becomes trickier here. On the other hand, there are clients about whom who know everything – and thus tailor our offerings.

Product Assortment

No wonder, we have to keep products to satisfy our niche customers, but on a wider scale, we have to introspect what stuffs to keep in stock. A proper analysis of our product demands and the kinds of products our clients swear by, we can ascertain what items to restock again and again. Also, we can take a cue or inspiration from our vying competitors, as they are a good source of information for a perfect assortment of products you want to include. A full account of their inventory will enlighten you about a few blind spots you had, and devise how to correct them before it’s too late. 

Pricing

The people will pay whatever rates the market supports. The price of the product is still subject to change, depending on the country of origin, taste and preferences and market scenario. But these are more of a supply side changes, so what about the demand side? Interested customers are keen to buy products even at varying prices, but the products should be truly good enough. The scale also plays an important role in deciding prices. The best pricing decisions take into account data regarding weather, day of purchase, several economic factors, location and more.

Customized branding/marketing

It is mostly curated for large retailers. For example, how about some doing some routine advertising – it applies to both digital and offline branding, though much easier for digital. A monthly newsletter carrying all the needful information about discounts, new product launch and promotions always will keep your customers’ updated about everything that’s going around the company. But, make sure they have some sort of personal touch – personalized marketing helps!

Summary

While the sky is the limit for data science, the blog above sheds light on the benefits of data science and the true impact of having trust on data. After all, it is of no use to keep data and not take advantage of it!

Let’s Take Your Data Dreams to the Next Level

DexLab Analytics offers premium data science training in Delhi NCR for affordable rates. Try their courses today!

 

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How Machine Learning Coupled With Data Science Improves Retail Scenario (Part 1)

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The mammoth growth in ecommerce signifies an entire paradigm shift in retail sector. Figures say, ecommerce accounts for $2 trillion dollars in sales and more. Though traversing through both the offline and online market seems a rather challenging task, but when we finally concentrate on each customer and their purchasing manner, it feels easier to break up the analysis into a few different paths.

How Machine Learning Coupled With Data Science Improves Retail Scenario (Part 1)

In this blog, we will take into account a few interesting ways, in which data science increases your sales, online and offline, alike. But before that, understand whom are you selling your products? Hoarding information about your clients is crucial, and of course there are many ways to do this.  Amazon is one of the biggest examples of this. They predict future purchases of customers, based on the past behavior. Companies lose valuable customers if they don’t look at the data with a wider scope and search for insights. But Amazon is definitely not one of them, and their technique is clearly working for them with over $2 billion profits made last year.

The Mechanism Behind

At Amazon, products are shipped even before customers have ordered them. This means, when the products are shipped, there’s no one to receive them. But, does it really matter! The main logic behind such steps is that once the products are taken out of the warehouse and transported to a particular area, they can easily be marketed to other dealers at discounted rates or kept inside the final hub. This is more like a logistic marvel than an ecommerce miracle – but it definitely makes us believe in the concept of forward thinking to lead the change.

 

amazon-distribution

 

The working principle in here is the most innovative concept of machine learning that helps in predicting future client behavior pattern. It works on data to train a formidable model. Training is a notable process of pouring data into the model so that it can employ statistical weights to automatically identify future purchase trends. For example, Mr. A purchases a new item every two or three weeks, so it’s expected that he will make a purchase within that time limit. For this, we don’t have to use data, but just divide it into train and test data. However, this is a very simple example – in reality these trends are juxtaposed with other millions of clients to differentiate clients into numerous cohorts that overlap and vary. Machine learning techniques are used in a plethora of different use cases, like product recommendations, churn predictions, logistics planning and automatic personalized marketing. We will discuss deeply about them in our next blog section.

 

supervised-machine-learning

 

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Make Flexibility Your Bae

While working on data science, it is important to focus on flexibility – the whole structure of data warehouse will start changing once you start trying something new. At times it may seem to be amusing, but on the long run, you will come across several significant insights.

 

 

With all these on point, scoring high on retail is no more a distant dream. Data science and machine learning methods have made everything so easy, and so manageable. To give a robust push to your career in data science, take up data science online training from DexLab Analytics. Apart from data science, they also offer excellent Machine Learning Certification for all data-hungry candidates – go take a look at their course structure.

 

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Getting Started with Machine Learning: Crack the Code

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Getting Started with Machine Learning: Crack the Code

Machine Learning has taken us all to the tipping point from where the entire ballgame of technology and the way we interact with the digital world has started changing and the surge is expected to continue over the next decade. Increasingly, the decisions of the future are going to be made by machines, and we can’t seem to be more excited!!

It’s time to adopt Machine Learning

According to McKinsey reports, AI adoption in the tech sector is at its nascent stage, with few firms implementing it on a large scale. The companies that are yet to deploy it are still in two minds whether they should expect return on investments or not.

Nevertheless, skilled data scientists better be start speeding up the process of implementation of these emerging technologies if they want to stay right on edge ahead of their tailing rivals. Machine Learning is the new in-thing that must be embarked on RN.

And for that, here goes the following tips that will help you ride towards AI success:

Inspect the areas where data science fits into

Leverage data science and Machine Learning within an organization to trigger better optimization and smoother implementation. Imbed data science and machine learning into every department, like HR, marketing, sales and finance. Also, try pairing data scientists with software engineers to build agile models on machine learning, that’s the best way to scale across company operations better.

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Treat data as money

Today, data acts as the fuel for an organization. But it can also be treated as money, and diligent data consultants need to manage, protect and obsess over it. Data is powerful but in order to derive the best out of it, it needs to be played well in the hands of experts. And those hands are of data specialists who values data like money.

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Stop hunting down purple squirrels

No wonder, data scientists are individuals with an exceptionally high aptitude in math and statistics; they are skilled in evaluating insights in data. They don’t necessarily have to be software engineers who only know how to write algorithms and curate tech products. Data scientists are much more than that.

Companies often seek unicorn-like aspirants who are ninja software engineers, ace statisticians and master of industry domain, but the sad part is that they look for all these 3 character traits in a single job candidate, which needs to be changed.

Keep an eye on ‘derived data’

If you are thinking of sharing your algorithms with any other person then the chances are high that they will see your data. But companies that are keen on protecting its data should refrain from such activities. Data for informatics companies is like a new currency – they need to be well-guarded and treasured for life!

Educate about the perks of AI

AI is a blessing, for all you tech nerds and gizmo jerks. And accomplished data professionals should look for ways to promote AI and influence friends and co-workers to embrace this new king-some technology. After all, successful machine learning implementation may become the key to your company’s future growth, provided you treat it in the right manner.

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IoT is Advancing but without Enough Security: What You Need to Do

Posted on by Dexlab

IoT is Advancing but without Enough Security: What You Need to Do

IoT is eminent. And a wide number of nerdy IT specialists are scared as hell.

A recent survey pointed that 78% of IT decision makers accepted that they are skeptical if their business lose crucial data enabled by IoT devices. Amongst them, 72% even said the speed at which IoT adoption is gaining ground is worrisome because they are yet to evolve necessary security arrangements.

As the saying goes, there’s no smoke without fire – the recent WannaCry Ransomware is the best example to point out security issues related to IoT– it infringed and crippled Bank of China’s ATM networks and washing machine networks. In another instance, a company that looked after much of the Internet’s domain name structure was brought down by using somewhat 100,000 “malicious endpoints” from IoT devices. All owing to security lapses in the adoption of IoT infrastructure.

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The notion is that IoT is still largely under-secured and poses larger than life security threats and risks as companies are trusting suave IoT devices for some way or the other, as a result jeopardizing their own operational, profitability and safety decisions.

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AI is the Answer!!

AI can come to the rescue, whenever security of IoT is the concerning matter. Proponents defend saying machine learning can easily identify usage patterns and send signals to the system, whenever abnormalities are recorded or even occur. Reason: all the IoT devices are limited in function, so it becomes easier to recognize irregularities.

Again, a combination of everything is never a bad idea. Undoubtedly, AI plays a prominent role in uplifting IoT security, but a comprehensive IoT solution would include an amalgamation of everything, like AI, government regulation and standards.

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Though the ever-so-increasing tech industry is capable of devising an effective solution, but the real deal in here is to perform everything on a breakneck timetable. At present, in between IoT security and IoT adoption, the latter is winning.

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Here’s a set of suggestions that helps in latching on with the IoT without compromising on the security part:

  • Implement an integrated approach – Anytime, more is better. The companies that are relying on IoT should seek to integrate management solutions and welcome a powerful IoT framework to boost smooth data movement and good connectivity that pulls in data into a robust analytical environment, which is albeit more sophisticated and makes room for flawless behavioral analysis, which is automated – “by integrating those components, you can be more confident that what you’ve got from a feed in an IoT environment is more statistically valid,” Chris Moyer, CTO and VP-cybersecurity at DXC said.
  • Choose the perfect IoT devices – Formidable ecosystem and having a series of companions that shows no inhibitions in the manner they share information stems out to be the right IoT devices.
  • Look forward to Edge Devices and IoT Gateways – To counter the lack of security measures, top of the line companies are using Edge Devices and IoT Gateways to bind more impregnable layers of protection between insecure equipments and the internet.
  • Go create standards – From a macro level perspective, you should ensure a 360-degree IoT security for the next few years and that is only possible if you start setting standards in your business as well as in tech from now on.

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