Uncategorized

What are the trends that you could expect for 2015 as far as analytics is concerned? Part 1 of 2

With data analytics, you do not just focus on the quantitative aspect of the data and the numbers you are working with.

Analytics have become something that most companies are getting into or at least are seriously considering.   What are the trends that you could expect for 2015 as far as analytics is concerned?

  1. Standards for the Analytics of Things will take shape. The Internet of Things is an exciting area that is closely related to big data and analytics, and this will continue to expand rapidly this year. We have already seen several tools and software that are used in analyzing huge amounts of both structured and unstructured data. One trend that we will see more in 2015 is related to the integration of systems related to the Internet of Things and analytics. The rise of industry standards that touches on the huge amount of data generated by the Internet of Things and analytics will be one of them. We shall be hearing more about the efforts of Alljoyn, Google and the Industrial Internet Consortium as these organizations move towards creating standards for the industry. It is imperative that participants from different sectors such as the academe, research, business and of course, technology companies come together to help develop these standards. And we can expect that these organizations would be moving faster than expected, but you must remember that it took around 15 years to develop RFID standards.

[expand title=”Click here to read more about this article”]

  1. Data security will continue to be a concern. One of the things that concerned a lot of technology professionals in 2014 was the security of their data. With the deluge of data coming from all sources, it was more difficult to make sure that all of these data was secure. Analytics proved helpful in the area of data security and we have seen great strides in several areas including digital watermarking, fighting malware, detecting intrusion and even differential privacy. In 2015, companies will continue to focus on data security by creating strong security practices that would include the use of analytics to help stem vulnerabilities and privacy concerns. And this step involves getting somebody in the company who is in charge of data security and making that person highly visible and responsible.
  1. Monetization of data. Data is currently being managed the way assets are, so why not derive value from them like we derive value from different business assets. You could be earning revenues with your data, but there are caveats. Getting money from customers’ private data involves a tradeoff between data monetization and data security. You should first be clear that monetizing data is without legal and ethical complications. And if you are dealing with intellectual property data, you might want to weigh the benefits vs. the risks. You should also try to avoid the pitfalls by having a business model that allows for data monetization, and being sure that you have the technology and you know the full costs and responsibilities associated with data security. Monetizing data is generally a great idea, but you should be sure that it is not getting in the way of reaching your primary goals.

There are more, so stay tuned for the second part of this series. In the meantime, work with Four Cornerstone for your data analytics efforts. We offer Oracle consulting in Dallas, which means we can help you get best in class software and tools for your data analytics.[/expand]

Photo by Trending Topics 2019.

Cloud Blog

4 Ways To Benefit from…

One of the benefits you get when you work with cloud applications is that you often have quarterly updates that are packed with features. This...

Keep Reading

Artificial Intelligence

Data and Analytics: Cross the…

  Artificial intelligence is a manna sent from digital heaven. That’s how blessed your business can get if you immerse into the AI of things....

Keep Reading

Business Intelligence Blog

How Brand Names Survive in…

  The age of digital marketplace has made it possible for unknown and smaller companies to compete with better-known and well-established brands. Take for example...

Keep Reading

Artificial Intelligence

The Phenomenon That Is Artificial…

  Artificial intelligence is when a machine does cognitive functions that are more associated with humans, such as thinking, learning, problem solving, and reasoning. As...

Keep Reading

Cloud

Digital Transformation in Banking: Shift…

  The start of a new decade is already shaping up to be exciting for financial services, especially for banks as they continue to compete...

Keep Reading

Business Intelligence Blog

Data Science and Its Economic…

It would seem that artificial intelligence is the focus of businesses that are looking to future proof their organizations and stay competitive. And why not?...

Keep Reading

Data Blog

Ensure Efficient Data Science and…

In an ever-expanding landscape called Internet of Things and the exploding development of artificial intelligence, we are bombarded with complex methods of integrating data science...

Keep Reading

Business Intelligence Blog

Cybersecurity: The Top 5 Expectations…

  If you think about it, cybersecurity is closely tied to human rights, privacy, freedom, and even basic safety. As a whole, we have become...

Keep Reading

Business Intelligence Blog

Tech Security Should Be Easy…

  IT professionals know that tech security is important in everything that they do. And that there are a lot of products, tools, innovations, and...

Keep Reading

Business Intelligence Blog

The Top 6 Success Stories…

Nearly nine out of 10 digital transformation initiatives fail. Digital transformation projects fail for a variety of reasons. It can be because of a lack...

Keep Reading

Live Chat | Emergency