Big Ideas; Big Tech: Pillars of Big Data Analysis

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This video talks about the three major components for an organization performing effective Big Data analysis - Accurate data and capable data scientists, effective analytics applications and robust IT infrastructure.

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Maxonic

Maxonic, Inc. is a certified minority-owned technology consulting and staffing firm founded in 2002. We provide technology consulting and staffing services to Fortune 500 companies across the country. We collaborate with clients to design, develop and implement business-driven technology solutions. We have deep domain expertise with multiple big data platforms and have strong partnerships with industry leaders in the space. The founders have over 40 years of experience helping clients and consultants succeed. Our commitment is to provide customers with an honest, personalized, face-to-face, long term relationship, and provide consultants with ethical, respectful and stress-free care…

OTHER ARTICLES

How big data is empowering better business intelligence

Article | March 24, 2020

Business intelligence (BI) is nothing new to enterprises that have been relying on data processing and analysis to deliver insightful reports that reflect business performance.These tools are a great match for enterprises that value the data their operations generate. BI software and programs work together to turn data into actionable insights that can drive better business decisions and market strategies and, ultimately, drive revenue as a result.Combined with the masses of external data amassing every second whether that’s customers’ feedback and experience, competitor intelligence, seasonal buying habits, or otherwise businesses can have a huge amount of data at their disposal.While BI systems draw specific data from pre-defined sources to turn them into insights, big data technologies capture data from a variety of sources in real-time, regardless of their formats or structure.

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A BRAND NEW CHIP DESIGN WILL DRIVE AI DEVELOPMENT

Article | March 24, 2020

The world is now heading into the Fourth Industrial Revolution, as Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, described it in 2016. Artificial Intelligence (AI) is a key driver in this revolution and with it, machine learning is critical. But critical to the whole process is the need to process a tremendous amount of data which in turns boosts the demand for computing power exponentially.A study by OpenAI suggested that the computing power required for AI training surged by more than 300,000 times between 2012 and 2018. This represents a doubling of computing power every three months and two weeks; a number that is significantly quicker than Moore’s Law which has traditionally measured the time it takes to double computing power. Conventional methodology is no longer enough for such significant leaps, and we desperately need a different computing architecture to stay ahead in the game.

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BIG DATA MANAGEMENT

Advanced Data and Analytics Can Add Value in Private Equity Industry!

Article | March 24, 2020

As the organizations go digital the amount of data generated whether in-house or from outside is humongous. In fact, this data keeps increasing with every tick of the clock. There is no doubt about the fact that most of this data can be junk, however, at the same time this is also the data set from where an organization can get a whole lot of insight about itself. It is a given that organizations that don’t use this generated data to build value to their organization are prone to speed up their obsolescence or might be at the edge of losing the competitive edge in the market. Interestingly it is not just the larger firms that can harness this data and analytics to improve their overall performance while achieving operational excellence. Even the small size private equity firms can also leverage this data to create value and develop competitive edge. Thus private equity firms can achieve a high return on an initial investment that is low. Private Equity industry is skeptical about using data and analytics citing the reason that it is meant for larger firms or the firms that have deep pockets, which can afford the revamping cost or can replace their technology infrastructure. While there are few private equity investment professionals who may want to use this advanced data and analytics but are not able to do so for the lack of required knowledge. US Private Equity Firms are trying to understand the importance of advanced data and analytics and are thus seeking professionals with the expertise in dealing with data and advanced analytics. For private equity firms it is imperative to comprehend that data and analytics’ ability is to select the various use cases, which will offer the huge promise for creating value. Top Private Equity firms all over the world can utilize those use cases and create quick wins, which will in turn build momentum for wider transformation of businesses. Pinpointing the right use cases needs strategic thinking by private equity investment professionals, as they work on filling the relevant gaps or even address vulnerabilities. Private Equity professionals most of the time are also found thinking operationally to recognize where can they find the available data. Top private equity firms in the US have to realize that the insights which Big data and advanced analytics offer can result in an incredible opportunity for the growth of private equity industry. As Private Equity firms realize the potential and the power of big data and analytics they will understand the invaluableness of the insights offered by big data and analytics. Private Equity firms can use the analytics insights to study any target organization including its competitive position in the market and plan their next move that may include aggressive bidding for organizations that have shown promise for growth or leaving the organization that is stuffed with loads of underlying issues. But for all these and also to build careers in private equity it is important to have reputed qualification as well. A qualified private equity investment professional will be able to devise information-backed strategies in no time at all. In addition, with Big Data and analytics in place, private equity firms can let go of numerous tasks that are done manually and let the technology do the dirty work. There have been various studies that show how big data and analytics can help a private Equity firm.

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Predictive analytics vs AI Why the difference matters

Article | March 24, 2020

There are few movie scenes I can recall from my childhood, but I vividly remember seeing the 1968 Stanley Kubrick sci-fi movie 2001 A Space Odyssey in 1970 with my older cousin. What stays with me to this day is the scene where astronaut Dave asks HAL, the homicidal computer based on artificial intelligence (AI), to open the pod bay doors. HAL's eerie reply: I'm sorry, Dave. I'm afraid I can't do that.In that moment, the concept of man vs. machine was created, predicated on the idea that machines created by man and using AI could (eventually) defy orders, position themselves in the vanguard, and overthrow humankind. Fast forward to today. Within the information governance space, there are two terms that have been used quite frequently in recent years analytics and AI. Often they are used interchangeably and are practically synonymous.

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Spotlight

Maxonic

Maxonic, Inc. is a certified minority-owned technology consulting and staffing firm founded in 2002. We provide technology consulting and staffing services to Fortune 500 companies across the country. We collaborate with clients to design, develop and implement business-driven technology solutions. We have deep domain expertise with multiple big data platforms and have strong partnerships with industry leaders in the space. The founders have over 40 years of experience helping clients and consultants succeed. Our commitment is to provide customers with an honest, personalized, face-to-face, long term relationship, and provide consultants with ethical, respectful and stress-free care…

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