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Big data

    3 New Year’s Resolutions for Your Organisation in 2019



    2019 promises to be the Year of Truth, with a lot of new exciting developments. Blockchain will become the gold standard for supply chains, and crypto currencies will slowly start to increase in value again (though not bitcoin). There will be significant developments in quantum computing and machine learning, creating new opportunities to advance research. However, not all will be positive this year, as we will see new major security breaches this year.

    With so much happening in the coming year, it is important as an organisation to be prepared. Technology is developing faster and faster, and if you do not stay up-to-date, it is quite easy to miss the boat. Therefore, here are my three new year's resolutions to help you thrive in 2019:

    1. Start incorporating ethics in your business

    There is no excuse anymore. In the past years, there have been too many occurrences of data breaches, machine learning mistakes, fake news and fake video/audio files as well as the occasional discrediting of critics using PR firms. It is time to start doing business in an ethical way, especially now that data has become so crucial for organisations. With access to (unlimited) data, it has become quite easy to do ...

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    How to Improve Blockchain Security



    In 2014, Mt. Gox, one of the largest cryptocurrency exchanges (managing approximately 70% of all transactions in Bitcoin) had been the victim of successful hacking attempts for a period of three years, and Mt. Gox’s customers lost 750,000 Bitcoins. Bitcoin lost over a third of its value when the full extent of the fraud was revealed. 

    In 2016, Bitfinex, one of the most popular cryptocurrency exchanges in the world was hacked, and 120,000 Bitcoins were stolen, representing a market value (at the time) of nearly $72 million. In 2018, there has been a steady flow of news reports revealing all manners of cryptocurrency fraud and token theft, Coinrail, BitGrail, Coincheck are just a few of the hacks exposed this year.

    Clearly, making blockchain as safe and secure as possible is the highest priority. When investing in the computing power necessary to utilize blockchain in an enterprise, it makes sense that companies want to ensure the highest level of security for their most sensitive data. There are a few theories about how to best accomplish this task.

    1. Decentralize the blockchain. When the blockchain is spread out over a large network, it becomes more difficult to attack it. However, this theory has not been well-tested.

    2. Requiring ...

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    The Link Between Big Data and Fraud Prevention in the Financial Sector



    Even though digital technologies have done a lot to improve our overall financial situation, and to provide people with better, more convenient access to a number of different services and resources, the sad reality of today is that technological advancements also tend to bring about increased levels of fraud.

    It’s not hard to see why, either – honest people aren’t the only ones who benefit from such developments, and in fact, those who have the willingness to try breaking the system can often find themselves in a much better position to take advantage of its flaws.

    However, things aren’t that bad in general terms. Technological progress has also made it possible – and quite easy in some cases – to deal with fraud and to increase the level of confidence that customers have in the systems they are working with. We still have some way to go until we’re at a point where things can run truly smoothly, but at least we’re moving in the right direction. We have Big Data to thank for that to a large extent, and its implications today are not to be underestimated.

    Analytics Can Reveal Hidden Patterns

    It’s impossible for humans to maintain a full overview of any ...

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    What Does 2019 Hold For Big Data Analytics?



    In this day and age, information is everywhere. We are buried under it, bombarded with information constantly. However, information is also power, it gives you an edge in whatever kind of business you are in. This is why big data analytics exists. You analyze, you process big sets of data, you sift through what is and is not important, and then take what you can use. Big data analytics has been a staple, in one form or another, since the very concept of business began. However, it changed and evolved, it moved in the same rhythm technology does. And now, since the internet has become so ubiquitous and everpresent, it's simply a cornerstone of anyone who wants to see success.

    But, taking all the above into account, you need to always be on your toes. The world constantly changes, the technological landscape morphs by the second, and 2019 will be no different. Read on below if you want to see what we believe the New Year will hold for this concept.

    Machine learning – Yes or No?

    Machine learning is here to stay, no question about that. The early stages of AI have done wonders for any kind of data processing in almost ...

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    2018 in Review: The Year of Transition is Over



    Last year, I called 2018 the Year of Transition because technological developments are accelerating, but they had not yet reached the state of full maturity. Indeed, artificial intelligence did leap forward, with Uber developing a new machine learning technique and AI beating humans in the game Dota 2. As I correctly predicted, the ICO hype came to a near standstill. Among others due to the crypto bear market and additional scrutiny from regulators such as the SEC. We saw a new approach to data ownership with the launch of Solid PODs by Sir Tim Berners-Lee. Finally, we saw that quantum computing is developed a lot faster than many had expected.

    With the year almost over now, and this being my last article of 2018, let’s look back at some of my most popular articles of last year. A quick recap if you missed something in the past 12 months. To prepare you for the Year of Truth that is upon us:

    Blockchain

    Of course, I extensively wrote about blockchain this year as a lot has happened. We saw the development of blockchain for enterprises, and I shared seven use of enterprise blockchain solutions. In addition, I believe that the number one application of ...

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    How Big Data is the Future of Business Security



    Over time, instances of hacks seem to be breeding at a higher rate. Research in 2016 showed that over a million incidents of cyber crimes were reported in that year alone. Over time, malware attacks have become more challenging to fight and detect and are more sophisticated than before. One of the challenges that modern businesses are facing is to keep their network and systems protected from hackers and malware attacks. With these never-ending threats, even the most successful companies can't sustain their growth and performance.

    Big Data

    Some business owners believe that big data is a threat to their enterprises while others view it as a savior. It enables entrepreneurs to store large volumes of data, observe, analyze, and detect any irregularity within a system or network. That's what has made it a preferred choice in keeping cyber crimes at bay. The volumes of information available in big data reduce the time that an entrepreneur can take to detect and resolve a threat, allowing IT teams to predict and keep possibilities of invasion and intrusion at bay.

    Recent research has shown approximately 84% of modern businesses leverage big data to block millions of these attacks. The introduction of big data in the ...

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    3 Reasons Not to Use Blockchain Within Your Organisation



    For the past years, blockchain has been a huge buzzword. Especially after the crypto hype of 2017, organisations were convinced that they had to do something with blockchain. If only it was changing your company name to include blockchain in it. Although we have are in a bear crypto market, blockchain remains a buzzword.

    It reminds me of 5 or 6 years ago, when big data was the buzzword of the days. Back then, every organisation thought they had to do something with big data, but they had no idea. There was even a famous slide stating: “Big Data is like teenage sex; everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it…” Fast-forward five years and big data is no longer a buzzword, but big data has become a pre-requisite to understand the environment and remain competitive. Big data analytics can be used in every part of your organisation.

    Blockchain is different. Blockchain has the potential to fundamentally change industries. Every organisation can benefit from blockchain. However, blockchain cannot be used in every process or situation. Blockchain is useful in situations when there is a trust ...

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    How Natural Language Processing Is Transforming BI



    The important relationship between humans and machines has grown vastly more complicated and important since the rise of natural language processing, or the ability of machines to use computational linguistics to understand us when we speak to them as if they were other people. Business intelligence, in particular, has been fundamentally upended by the rapid adoption of NLP across the market, with whimsical devices and services like Alexa and Google Home now seeming normal rather than extraordinary.

    However, having your machines understand you when you speak is anything but normal. Here’s a deep dive into the marvellous world of natural language processing, and how it’s going to transform BI as we know it.

    BI is already adjusting to NLP

    It was just a few years ago that you would have struggled to find a single good example of natural language processing in the market, but today it’s just about everywhere. BI and smart entrepreneurs with an eye on the future are already beginning to adjust to the reality of NLP because this astonishing technology has already made our AI pocket-assistants like Siri an everyday facet of our lives. Natural language processing isn’t just for everyday people trying to talk to their iPhone or ...

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    How Big Data is Affecting Your Holiday Shopping Habits



    When the holidays start, shopping starts to pick up. But you might not realize that there are certain things that affect your holiday habits. It helps to know what these are so you can make the best decisions. That way, when you are buying gifts you are not just spending money. Instead, you are doing it in a way that will get great gifts but also not break the bank:

    Discounts 

    A lot of companies run discounts during the holidays. The whole reason behind this is usually to get you in the door in the first place. After all, who doesn't love a good deal? This applies to both online stores and physical retail stores.

    Beware that once you find your item, you might be tempted to run around the store and look for other things. This can easily add up if you're not careful. Before you know it, you might find yourself spending more than you originally planned.

    To fight back against this, keep in mind that if you did not plan to buy the item in the first place, then it is not a good deal. Just because it is on sale does not mean you need it. So save the money ...

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    Why Do Supply Chain Managers Need Predictive Analytics?



    Supply chain leaders are aware that technology will have an effect on business in the next two or three years, but as research shows, only less than half (44%) currently have a strategy in place. The change will most likely come from predictive analytics, which is expected to impact the entire business, from demand prediction to after-sales modeling.

    This technique has the advantage of enabling real-time decisions based on statistical estimates of future outcomes. It has the potential to enhance strategic thinking and overall performance. The difference is that it offers a proactive approach, compared with reactive actions, as deemed by historical reports.

    Usability

    Using predictive analytics is expected to have a clear and positive impact on improving the accuracy of forecasts, product tracing and offering growth paths.  A study from 2017 identified and classified the use cases for supply chain analytics based on importance and level of adoption. These included:

    Inventory level optimizations
    Production and sourcing optimizations to reduce costs
    Identifying and resolving quality defects and root causes
    Identifying product cost variances
    Analyzing customer service level performance
    Tracking product traceability
    Analyzing forecast accuracy and more

    Although necessary, these could seem a bit too general for daily use. We will strive to examine straightforward ways of using predictive analytics, together with ...

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