Data Mining: The Top 3 Things You Need to Know to Achieve Business Improvemen...Dr. Cedric Alford
While companies have been using various CRM and automation technologies for many years to capture and retain traditional business data, these existing technologies were not built to handle the massive explosion in data that is occurring today. The shift started nearly 10 years ago with expanding usage of the internet and the introduction of social media. But the pace has accelerated in the past five years following the introduction of smart phones and digital devices such as tablets and GPS devices. The continued rise in these technologies is creating a constant increase in complex data on a daily basis.
The result? Many companies don't know how to get value and insights from the massive amounts of data they have today. Worse yet, many more are uncertain how to leverage this data glut for business advantage tomorrow. In this white paper, we will explore three important things to know about big data and how companies can achieve major business benefits and improvements through effective data mining of their own big data.
Dr. Cedric Alford provides a roadmap for organizations seeking to understand how to make Big Data actionable.
The objective of this module is to provide an overview of what the future impacts of big data are likely to be.
Upon completion of this module you will:
Gain valuable insight into the predictions for the future of Big Data
Be better placed to recognise some of the trends that are emerging
Acquire an overview of the possible opportunities your business can have with Big Data
Understand some of the start up challenges you might have with Big Data
Modernizing Insurance Data to Drive Intelligent DecisionsCognizant
To thrive during a period of unprecedented volatility, insurers will need to leverage artificial intelligence to make faster and better business decisions - and do so at scale. For many insurers, achieving what we call "intelligent decisioning" will require them to modernize their data foundation to draw actionable insights from a wide variety of both traditional and new sources, such as wearables, auto telematics, building sensors and the evolving third-party data landscape.
Data Analytics has become a powerful tool to drive corporates and businesses. check out this 6 Reasons to Use Data Analytics. Visit: https://www.raybiztech.com/blog/data-analytics/6-reasons-to-use-data-analytics
Data Mining: The Top 3 Things You Need to Know to Achieve Business Improvemen...Dr. Cedric Alford
While companies have been using various CRM and automation technologies for many years to capture and retain traditional business data, these existing technologies were not built to handle the massive explosion in data that is occurring today. The shift started nearly 10 years ago with expanding usage of the internet and the introduction of social media. But the pace has accelerated in the past five years following the introduction of smart phones and digital devices such as tablets and GPS devices. The continued rise in these technologies is creating a constant increase in complex data on a daily basis.
The result? Many companies don't know how to get value and insights from the massive amounts of data they have today. Worse yet, many more are uncertain how to leverage this data glut for business advantage tomorrow. In this white paper, we will explore three important things to know about big data and how companies can achieve major business benefits and improvements through effective data mining of their own big data.
Dr. Cedric Alford provides a roadmap for organizations seeking to understand how to make Big Data actionable.
The objective of this module is to provide an overview of what the future impacts of big data are likely to be.
Upon completion of this module you will:
Gain valuable insight into the predictions for the future of Big Data
Be better placed to recognise some of the trends that are emerging
Acquire an overview of the possible opportunities your business can have with Big Data
Understand some of the start up challenges you might have with Big Data
Modernizing Insurance Data to Drive Intelligent DecisionsCognizant
To thrive during a period of unprecedented volatility, insurers will need to leverage artificial intelligence to make faster and better business decisions - and do so at scale. For many insurers, achieving what we call "intelligent decisioning" will require them to modernize their data foundation to draw actionable insights from a wide variety of both traditional and new sources, such as wearables, auto telematics, building sensors and the evolving third-party data landscape.
Data Analytics has become a powerful tool to drive corporates and businesses. check out this 6 Reasons to Use Data Analytics. Visit: https://www.raybiztech.com/blog/data-analytics/6-reasons-to-use-data-analytics
Top 10 Disruptive Big Data Trends for 2022Kavika Roy
https://www.datatobiz.com/blog/big-data-trends/
The global big data market revenue is projected to hit the 103 billion US dollar mark by 2027. With more than 2.5 quintillion bytes of data being generated daily it is more than safe to assume that Big Data is gearing up for changing the way we think.
Here are Top 10 Big Data Trends for 2022: Revolutionizing the Core of Modern Business Landscape
The Top 5 Data Science And Analytics Trends In 2023Bernard Marr
Data has become one of today's most important business assets, and data science enables us to turn this data into value. In the field, we see fast evolutions and new advances, especially in artificial intelligence and machine learning. Here, we look at the five biggest data science trends for 2023.
With enterprises putting digital at the core of their transformation, our annual Data Science & AI Trends Report explores the key strategic shifts enterprises will make to stay intelligent and agile going into 2019. The year was marked by a series of technological advances, including advances in AI, deep learning, machine learning, hybrid cloud architecture, edge computing (with data moving away to edge data centres), robotic process automation, a spurt of virtual assistants, advancements in autonomous tech and IoT.
La base para optimizar y potenciar la toma de decisiones en cualqueir empresa es la información. Pero no la información en bruto, sino aquella de la que podemos obtener valor tras su análisis.
Who needs Big Data? What benefits can organisations realistically achieve with Big Data? What else required for success? What are the opportunities for players in this space? In this paper, Cartesian explores these questions surrounding Big Data.
www.cartesian.com
Big Data Analytics Trends and Industry Predictions to Watch For in 2021Way2Smile
The fact that big data is going to change the face of major industries is widely accepted. But, what Data analytics trends should we watch out for? Let's find out!
Learn More at : https://bit.ly/2BOj4hD.
Effective Big Data Analytics Use Cases in 20+ IndustriesKavika Roy
Big data analytics enables business organizations to make sense of the data they are accumulating and leverage the insights drawn from it for various business activities. Know more about big data analytics, and its use cases.
Big Data Update - MTI Future Tense 2014Hawyee Auyong
The Futures Group first wrote about the emerging phenomenon of Big Data in 2010 as it was about to enter the mainstream. It was envisaged that Big Data would create a demand for new skills (Google has identified statisticians as the “sexy job of the decade”) and generate new industries. This report updates on the industry value chain and business models for the data analytics industry, latest developments as well as the opportunities for Singapore.
How Insurers Can Tame Data to Drive InnovationCognizant
To thrive among entrenched rivals and compete more effectively with digital natives, insurers will need to get their data right. That will mean moving to more responsive, AI-enabled architectures that accelerate data management and deliver insights that drive business performance.
Big Data for Marketing: When is Big Data the right choice?Swyx
Chief Marketing Officers (CMOs) without plans for Big Data may be putting themselves and
their companies at a competitive disadvantage. Big Data is already being widely deployed to enhance marketing responsibilities, although the small number of widely-touted success stories might be masking a significant number of failed implementations. When correctly planned and implemented, however, Big Data can create significant value for CMOs and their organisations. In this paper, we focus on describing specific examples of how Big Data can support CMO responsibilities and developing frameworks for identifying Big Data opportunities.
Big Data for Marketing: When is Big Data the right choice?Swyx
Chief Marketing Officers (CMOs) without plans for Big Data may be putting themselves and
their companies at a competitive disadvantage. Big Data is already being widely deployed to enhance marketing responsibilities, although the small number of widely-touted success stories might be masking a significant number of failed implementations. When correctly planned and implemented, however, Big Data can create significant value for CMOs and their organisations. In this paper, we focus on describing specific examples of how Big Data can support CMO responsibilities and developing frameworks for identifying Big Data opportunities.
In this white paper, we’ll share use cases for banks that are planning to incorporate data science into their operating models in order to solve their business problems.
what-is-datafication-and-why-is-it-the-future-of-business-in-2023.pdfTemok IT Services
Datafication is about more than just data collection and analysis; it also involves improving the quality of our daily lives in productive, insightful, and pleasurable ways.”Datafication” lacks a definition or has not yet entered dictionaries.
https://www.temok.com/blog/what-is-datafication-and-why-is-it-the-future-of-business-in-2023/
The objective of this module is to take a look into what big data can bring you in the future.
Upon completion of this module you will:
- See what are the predictions for the future of Big Data
- Take a look at some trends that are emerging
- Get an overview of possible opportunities your company can have with Big Data
- Face some of the start up challenges you might have with Big Data
Duration of the module: approximately 1 – 2 hours
Keeping pace with technology and big data.pdfClaire D'Costa
How IT companies can bridge the gap between ever-increasing talent needs and ever-changing technology?
In this pdf, you will get to know:
1- The technology's part in the play
2- The widening skills gap
3- Ways to fill up the void
4- Future of Big Data
5- Other useful insights
The global shift to incorporating types of hybrid work models was born out of necessity. However, businesses are using it to provide possibilities for every worker.
Top 10 Disruptive Big Data Trends for 2022Kavika Roy
https://www.datatobiz.com/blog/big-data-trends/
The global big data market revenue is projected to hit the 103 billion US dollar mark by 2027. With more than 2.5 quintillion bytes of data being generated daily it is more than safe to assume that Big Data is gearing up for changing the way we think.
Here are Top 10 Big Data Trends for 2022: Revolutionizing the Core of Modern Business Landscape
The Top 5 Data Science And Analytics Trends In 2023Bernard Marr
Data has become one of today's most important business assets, and data science enables us to turn this data into value. In the field, we see fast evolutions and new advances, especially in artificial intelligence and machine learning. Here, we look at the five biggest data science trends for 2023.
With enterprises putting digital at the core of their transformation, our annual Data Science & AI Trends Report explores the key strategic shifts enterprises will make to stay intelligent and agile going into 2019. The year was marked by a series of technological advances, including advances in AI, deep learning, machine learning, hybrid cloud architecture, edge computing (with data moving away to edge data centres), robotic process automation, a spurt of virtual assistants, advancements in autonomous tech and IoT.
La base para optimizar y potenciar la toma de decisiones en cualqueir empresa es la información. Pero no la información en bruto, sino aquella de la que podemos obtener valor tras su análisis.
Who needs Big Data? What benefits can organisations realistically achieve with Big Data? What else required for success? What are the opportunities for players in this space? In this paper, Cartesian explores these questions surrounding Big Data.
www.cartesian.com
Big Data Analytics Trends and Industry Predictions to Watch For in 2021Way2Smile
The fact that big data is going to change the face of major industries is widely accepted. But, what Data analytics trends should we watch out for? Let's find out!
Learn More at : https://bit.ly/2BOj4hD.
Effective Big Data Analytics Use Cases in 20+ IndustriesKavika Roy
Big data analytics enables business organizations to make sense of the data they are accumulating and leverage the insights drawn from it for various business activities. Know more about big data analytics, and its use cases.
Big Data Update - MTI Future Tense 2014Hawyee Auyong
The Futures Group first wrote about the emerging phenomenon of Big Data in 2010 as it was about to enter the mainstream. It was envisaged that Big Data would create a demand for new skills (Google has identified statisticians as the “sexy job of the decade”) and generate new industries. This report updates on the industry value chain and business models for the data analytics industry, latest developments as well as the opportunities for Singapore.
How Insurers Can Tame Data to Drive InnovationCognizant
To thrive among entrenched rivals and compete more effectively with digital natives, insurers will need to get their data right. That will mean moving to more responsive, AI-enabled architectures that accelerate data management and deliver insights that drive business performance.
Big Data for Marketing: When is Big Data the right choice?Swyx
Chief Marketing Officers (CMOs) without plans for Big Data may be putting themselves and
their companies at a competitive disadvantage. Big Data is already being widely deployed to enhance marketing responsibilities, although the small number of widely-touted success stories might be masking a significant number of failed implementations. When correctly planned and implemented, however, Big Data can create significant value for CMOs and their organisations. In this paper, we focus on describing specific examples of how Big Data can support CMO responsibilities and developing frameworks for identifying Big Data opportunities.
Big Data for Marketing: When is Big Data the right choice?Swyx
Chief Marketing Officers (CMOs) without plans for Big Data may be putting themselves and
their companies at a competitive disadvantage. Big Data is already being widely deployed to enhance marketing responsibilities, although the small number of widely-touted success stories might be masking a significant number of failed implementations. When correctly planned and implemented, however, Big Data can create significant value for CMOs and their organisations. In this paper, we focus on describing specific examples of how Big Data can support CMO responsibilities and developing frameworks for identifying Big Data opportunities.
In this white paper, we’ll share use cases for banks that are planning to incorporate data science into their operating models in order to solve their business problems.
what-is-datafication-and-why-is-it-the-future-of-business-in-2023.pdfTemok IT Services
Datafication is about more than just data collection and analysis; it also involves improving the quality of our daily lives in productive, insightful, and pleasurable ways.”Datafication” lacks a definition or has not yet entered dictionaries.
https://www.temok.com/blog/what-is-datafication-and-why-is-it-the-future-of-business-in-2023/
The objective of this module is to take a look into what big data can bring you in the future.
Upon completion of this module you will:
- See what are the predictions for the future of Big Data
- Take a look at some trends that are emerging
- Get an overview of possible opportunities your company can have with Big Data
- Face some of the start up challenges you might have with Big Data
Duration of the module: approximately 1 – 2 hours
Keeping pace with technology and big data.pdfClaire D'Costa
How IT companies can bridge the gap between ever-increasing talent needs and ever-changing technology?
In this pdf, you will get to know:
1- The technology's part in the play
2- The widening skills gap
3- Ways to fill up the void
4- Future of Big Data
5- Other useful insights
The global shift to incorporating types of hybrid work models was born out of necessity. However, businesses are using it to provide possibilities for every worker.
Should FIFA and Qatar Compensate Abused Migrant Workers?SG Analytics
With the 2022 FIFA World Cup fast approaching, more light is shining on the controversies about migrant worker deaths in Qatar. Many have called for compensation.
How are Impact Investors Tackling the New Opportunities in Climate InvestmentSG Analytics
Impact investors are incorporating frameworks to identify climate investment opportunities and invest in bonds of companies with sound environmental policies.
With the increasing advancements in marketing, it is safe to say that the digital marketing trends in 2023 will continue to transform the digital landscape.
As Europe's leading economic powerhouse and the fourth-largest hashtag#economy globally, Germany stands at the forefront of innovation and industrial might. Renowned for its precision engineering and high-tech sectors, Germany's economic structure is heavily supported by a robust service industry, accounting for approximately 68% of its GDP. This economic clout and strategic geopolitical stance position Germany as a focal point in the global cyber threat landscape.
In the face of escalating global tensions, particularly those emanating from geopolitical disputes with nations like hashtag#Russia and hashtag#China, hashtag#Germany has witnessed a significant uptick in targeted cyber operations. Our analysis indicates a marked increase in hashtag#cyberattack sophistication aimed at critical infrastructure and key industrial sectors. These attacks range from ransomware campaigns to hashtag#AdvancedPersistentThreats (hashtag#APTs), threatening national security and business integrity.
🔑 Key findings include:
🔍 Increased frequency and complexity of cyber threats.
🔍 Escalation of state-sponsored and criminally motivated cyber operations.
🔍 Active dark web exchanges of malicious tools and tactics.
Our comprehensive report delves into these challenges, using a blend of open-source and proprietary data collection techniques. By monitoring activity on critical networks and analyzing attack patterns, our team provides a detailed overview of the threats facing German entities.
This report aims to equip stakeholders across public and private sectors with the knowledge to enhance their defensive strategies, reduce exposure to cyber risks, and reinforce Germany's resilience against cyber threats.
Adjusting primitives for graph : SHORT REPORT / NOTESSubhajit Sahu
Graph algorithms, like PageRank Compressed Sparse Row (CSR) is an adjacency-list based graph representation that is
Multiply with different modes (map)
1. Performance of sequential execution based vs OpenMP based vector multiply.
2. Comparing various launch configs for CUDA based vector multiply.
Sum with different storage types (reduce)
1. Performance of vector element sum using float vs bfloat16 as the storage type.
Sum with different modes (reduce)
1. Performance of sequential execution based vs OpenMP based vector element sum.
2. Performance of memcpy vs in-place based CUDA based vector element sum.
3. Comparing various launch configs for CUDA based vector element sum (memcpy).
4. Comparing various launch configs for CUDA based vector element sum (in-place).
Sum with in-place strategies of CUDA mode (reduce)
1. Comparing various launch configs for CUDA based vector element sum (in-place).
Show drafts
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Empowering the Data Analytics Ecosystem: A Laser Focus on Value
The data analytics ecosystem thrives when every component functions at its peak, unlocking the true potential of data. Here's a laser focus on key areas for an empowered ecosystem:
1. Democratize Access, Not Data:
Granular Access Controls: Provide users with self-service tools tailored to their specific needs, preventing data overload and misuse.
Data Catalogs: Implement robust data catalogs for easy discovery and understanding of available data sources.
2. Foster Collaboration with Clear Roles:
Data Mesh Architecture: Break down data silos by creating a distributed data ownership model with clear ownership and responsibilities.
Collaborative Workspaces: Utilize interactive platforms where data scientists, analysts, and domain experts can work seamlessly together.
3. Leverage Advanced Analytics Strategically:
AI-powered Automation: Automate repetitive tasks like data cleaning and feature engineering, freeing up data talent for higher-level analysis.
Right-Tool Selection: Strategically choose the most effective advanced analytics techniques (e.g., AI, ML) based on specific business problems.
4. Prioritize Data Quality with Automation:
Automated Data Validation: Implement automated data quality checks to identify and rectify errors at the source, minimizing downstream issues.
Data Lineage Tracking: Track the flow of data throughout the ecosystem, ensuring transparency and facilitating root cause analysis for errors.
5. Cultivate a Data-Driven Mindset:
Metrics-Driven Performance Management: Align KPIs and performance metrics with data-driven insights to ensure actionable decision making.
Data Storytelling Workshops: Equip stakeholders with the skills to translate complex data findings into compelling narratives that drive action.
Benefits of a Precise Ecosystem:
Sharpened Focus: Precise access and clear roles ensure everyone works with the most relevant data, maximizing efficiency.
Actionable Insights: Strategic analytics and automated quality checks lead to more reliable and actionable data insights.
Continuous Improvement: Data-driven performance management fosters a culture of learning and continuous improvement.
Sustainable Growth: Empowered by data, organizations can make informed decisions to drive sustainable growth and innovation.
By focusing on these precise actions, organizations can create an empowered data analytics ecosystem that delivers real value by driving data-driven decisions and maximizing the return on their data investment.
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
Data Centers - Striving Within A Narrow Range - Research Report - MCG - May 2...pchutichetpong
M Capital Group (“MCG”) expects to see demand and the changing evolution of supply, facilitated through institutional investment rotation out of offices and into work from home (“WFH”), while the ever-expanding need for data storage as global internet usage expands, with experts predicting 5.3 billion users by 2023. These market factors will be underpinned by technological changes, such as progressing cloud services and edge sites, allowing the industry to see strong expected annual growth of 13% over the next 4 years.
Whilst competitive headwinds remain, represented through the recent second bankruptcy filing of Sungard, which blames “COVID-19 and other macroeconomic trends including delayed customer spending decisions, insourcing and reductions in IT spending, energy inflation and reduction in demand for certain services”, the industry has seen key adjustments, where MCG believes that engineering cost management and technological innovation will be paramount to success.
MCG reports that the more favorable market conditions expected over the next few years, helped by the winding down of pandemic restrictions and a hybrid working environment will be driving market momentum forward. The continuous injection of capital by alternative investment firms, as well as the growing infrastructural investment from cloud service providers and social media companies, whose revenues are expected to grow over 3.6x larger by value in 2026, will likely help propel center provision and innovation. These factors paint a promising picture for the industry players that offset rising input costs and adapt to new technologies.
According to M Capital Group: “Specifically, the long-term cost-saving opportunities available from the rise of remote managing will likely aid value growth for the industry. Through margin optimization and further availability of capital for reinvestment, strong players will maintain their competitive foothold, while weaker players exit the market to balance supply and demand.”
1. Top Data Science Trends to
Look Forward in 2023
Published on Nov 23, 2022
The world of data never stands still; new technologies are constantly transforming
at a much faster and more accurate pace. With new trends emerging, they are
bringing along new thinking and innovation.
Businesses are transitioning to a data-driven business model, where decisions are
made based on data-backed insights. The wave of digital transformation is
sweeping every industry, and the trend will continue in 2023 and beyond. It assists
businesses in reacting with certainty in the face of uncertain crises. Projections and
trends are crucial to surviving in the constantly innovating global market. Data
science, artificial intelligence (AI), and machine learning (ML) are critical in
business as they improve the growth rate of a business.
Data science trends are slowly gaining the expected prominence in businesses. In
2023, the emerging data science trends will further equip businesses to integrate
data-driven tools and insights. These trends will offer significant benefits for the
industry as well as to the businesses based within. Here is a rundown of the
2. significant trends that will influence how data science will drive business growth in
2023.
Read more: Data & Analytics Strategy: Must-Have Crucial Elements for Decision
Making
Emerging Trends in Data Science in 2023
1. The Rising Popularity of Augmented Analytics
A critical data science trend, augmented analytics, is finding a significant place day
by day. Augmented analytics employs machine learning (ML) protocols and
artificial intelligence (AI) to transform how data analytics is processed, assembled,
and generated. Augmented analytics tools are currently in trend as they help in
automating tasks and insight solutions through complex algorithms. In addition,
augmented analytics also helps in the refinement of data science platforms and
embedded analytics. In 2023, the trend of augmented analysis is expected to
experience varied developments, thereby becoming a significant factor in BI
platforms.
2. Transforming Operations with Big Data Automation
Today, automation is transforming every sector globally. It has stimulated
significant transformations in business, resulting in sustained proficiency. In the
last few years, industrialization has experienced the best automation capabilities
with big data analytics. The process of Analytic Process Automation (APA)
promotes growth by offering prescriptive as well as predictive abilities along with
data-backed insights. Through this, businesses have received efficient results at
low costs. With Analytic Process Automation (APA), businesses can enhance their
computing power and make the right computing decisions.
Data analytics automation is the perfect disruptive force that is helping businesses
substantially by stimulating valuable data usage and productivity. In a recent
survey, 48% of executives acknowledged that data analytics is crucial for
businesses today. Some of the prominent big data analytic software include
Apache Hadoop, Sisense, IBM Analytics, and SAP Business Intelligence
Platform.
Read more: 7 Trends That BFSI Industry Cannot Ignore Anymore- Get Ready for
2023
3. 3. Integration of Data-as-a-Service (DaaS)
Data-as-a-Service, also referred to as DaaS, is a technology that enables its
subscribers to access as well as use digital files with the internet. Built on cloud
technology, the DaaS industry has experienced significant growth since the
pandemic. And it is still evolving. In 2023, they are estimated to reach a value
worth $11 billion. DaaS is today considered the top data science trend that
enhances the productivity of businesses.
DaaS facilitates an appropriate understanding of the benefits of data for the growth
of businesses, especially in marketing. The significant highlights of the data-as-a-
service trend are as follows:
The data stream can be accessed on demand, thus making data sharing
effortless.
It is convenient to use as no special fees for accessibility are charged.
DaaS subscribers enjoy access to high-speed data.
The financial demand for DaaS is increasing due to the availability of its
resources and affordability.
4. 4. Real-Time Data Tracking to Build an Analytics
Infrastructure
When searching for data-backed insights, it is more acceptable to understand and
take into consideration the current trends. This is where real-time data comes into
the picture. And businesses are becoming interested in sourcing valuable real-time
data to make vital decisions. However, working with real-time data requires a
sophisticated analytics infrastructure that is likely to increase expenses. This
involves analyzing clickstream traffic from visitors to the website to identify and
create new offers and promotions. This also involves monitoring transactions in
real-time to watch out for warning signs or cyber fraud.
Read more: It's Time to Put Marketing at the Data Table. Why?
Social media platforms like Facebook analyze hundreds of gigabytes of data for
various use cases for serving up advertising and preventing the spread of fake
information. Data is providing many organizations with a competitive edge.
Businesses with the most advanced data strategies are increasingly looking toward
the most valuable and up-to-date data. And due to this reason, real-time data will
be the most valuable big data tool for businesses in 2023.
5. 5. Data Regulation and Governance
Data governance is also being perceived to be big news in 2023 as governments
are formulating and introducing new laws to regulate the use of personal and other
types of consumer data.
After the likes of the European General Data Protection Regulation (GDPR), the
Canadian Personal Information Protection & Electronic Documents Act (PIPEDA),
and the Chinese Personal Information Protection Law (PIPL), other countries are
set to follow suit and introduce legislation that safeguards the data of their citizens.
Recently, Gartner analysts predicted that by the year 2023, 65% of the world’s
population would be protected by regulations like General Data Protection
Regulation (GDPR).
This implies that governance will be a crucial task for businesses in the next 12
months, irrespective of where they are in the world. Businesses are implementing
measures to process their internal data and handle procedures of documentation.
For many, this will indicate auditing what information they have, how it is
collected, where the data is stored, and what is done with the acquired information.
While this sounds like additional work, in the long term, the idea will benefit both
businesses and consumers. They will be able to employ this data to develop
6. products and services that align with the needs of the consumers at prices they can
afford.
Data governance manages data access globally. Data governance has played a vital
role in enhancing the data protection of consumers. A new policy has also been
introduced to improve data security, data handling, as well as consumer profiling.
The law is referred to as the California Consumer Privacy Act (CCPA). These
policies are assisting in elevating business to a greater extent. CCPA influences
diverse business operations along with controlling the personal data of consumers.
It also guarantees data security and protection. Data governance offers businesses
the right to distinguish and comes with its own perks. A convenient tool to use,
businesses are incorporating data governance to have good subordinates.
Read more: Data Fabric and Architecture: Decoding the Cloud Data Management
Essentials
Final Thoughts
Data plays a major part in transforming businesses globally. Data science is
enabling businesses to identify the current market trends and generate insights that
drive better results. This is helping them develop a foundation that will aid in
attaining the envisioned growth. Businesses need to adopt agile innovation in their
disruptive business models to uncover customer insights.
In this era of rapid digital landscape evolution, data collection & analysis play a
significant role in shaping the future of businesses, industries, and even whole
market segments. To remain successful and relevant, data science is a vital
component that will drive them in the future. By embedding data science with its
integrated elements, industries can grow and survive in this competitive world.
Due to this, businesses are agreeing that analytics, data science, and machine
learning hold the potential to change different aspects of marketing and sales.
The upcoming data science trends will help individuals and businesses integrate
the vision of the dynamic future in the tech market.
With a presence in New York, San Francisco, Austin, Seattle, Toronto, London,
Zurich, Pune, Bengaluru, and Hyderabad, SG Analytics, a pioneer in Research and
Analytics, offers tailor-made services to enterprises worldwide.
A leader in Data Analytics, SG Analytics focuses on leveraging data management &
analytics and data science to help businesses discover new insights and build
strategies for business growth. Contact us today if you are looking to make critical
data-driven decisions to prompt accelerated growth and breakthrough
performance.