Text Mining to Create Value for an Enterprise

| June 8, 2016

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From the outer space, the Earth is a perfect sphere, “structured”, but as the vision descends closer and closer to the sphere, it turns out to be flattening, and then again comes back to non-flat structures, varying in heights, width, depth, and what not, getting transformed into “unstructured”.Above analogy may not be perfect to the data science, but to a certain extent maps the reality of unstructured data.More than 80% of data, in the form of emails, intranet entries, reports, purchase orders, invoice receipts, etc is unstructured. With the advent of social networking and Internet, we have added more unstructured information in last two to five years than the data generated since the evolution of homo-sapiens. Not only this, but text, videos, images, audio files and GPS data all add to the heaps of unstructured data every minute.

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We are a team of data professionals changing how people use data. Our mission: to safely store, transform and analyze business data, making it easy for everyone to quickly gain insight. Founded with a vision to reinvent the data warehouse for big data, we built a completely new SQL data warehouse designed for the cloud and for today’s needs.

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Deep Dive Digital-First Banks Harness The Power Of Data Analytics

Article | April 2, 2020

Data analytics has many purposes in the banking industry, ranging from improving cybersecurity to reducing customer churn. Every interaction from ATM withdrawals to loan applications — provides FIs with valuable data about customers’ financial lifestyles. Banks can even harness external regulatory, trading and social media engagement data, all of which can be processed and analyzed to benefit their operations.Financial data is useful in helping banks develop wide-reaching marketing campaigns, but social data is critical to developing offers for specific customers. Santa Rosa, California-based Redwood Credit Union, for example, found that social data was particularly important when offering auto loans. It initially extended preapproval for such loans every two years based solely on members’ credit scores and vehicle purchase histories, but it soon discovered that there was a much more reliable indicator and updated its preapproval frequency accordingly.

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Why Data Science Needs DataOps

Article | April 2, 2020

DataOps helps reduce the time data scientists spend preparing data for use in applications. Such tasks consume roughly 80% of their time now.We’re still hopeful that the digital transformation will provide the insights businesses need from big data. As a data scientist, you’re probably aware of the growing pressure from companies to extract meaningful insights from data and find the stories needed for impact.No matter how in-demand data science is in the employment numbers, equal pressure is rising for data scientists to deliver business value and no wonder. We’re approaching the age where data science and AI draw a line in the sand for which companies remain competitive and which ones collapse.One answer to this pressure is the rise of DataOps. Let’s take a look at what it is and how it could provide a path for data scientists to give businesses what they’ve been after.

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7 Data Storage Trends You Cannot Miss in a Data Center

Article | April 2, 2020

Contents: 1 Introduction 2 Top Data Storage Trends That Simplify Data Management 2.1 AI Storage Continues to be The Chief 2.2 Price Markdown in Flash Storage 2.3 Hybrid Multi Cloud for The Win 2.4 Increased Significance of Software-Defined Storage 2.5 Non-Volatile Memory Express (NVMe) Beats Data Center Fabrics 2.6 Acceleration of Storage Class Memory 2.7 Hyperconverged Storage – A Push to Edge Computing 3 The Future of Data Storage 1. Introduction There’s more to data than just to store it. Organizations not only have the responsibility of dealing with a plethora of data, but are also anticipated of safeguarding it. One of the primary alternatives that enterprises are indulging in to keep up with the continuous data expansion is data storage entities and applications. A recent study conducted by Statista revealed that worldwide spending on data storage units is expected to exceed 78 billion U.S. dollars by 2021. Going by these storage stats, it can be certainly said that data is going to be amplified at a much faster rate, and companies do not have a choice but to be geared up for a data boom and still be relevant. When it comes to data management/storage, information technology has risen to all its glory with concepts like machine learning. While the idea of such profound approaches is thrilling, the real question boils down to whether organizations are ready as well as equipped enough to handle them. The answer to this might be NO. But, can companies make changes and still thrive? Most definitely, YES! To make this concept more understandable, here is a list of changes/trends that companies should adopt to make data storage a lot more easy and secure. 2. Top data storage trends that simplify data management Data corruption is one big issue that most companies face. The complications that unfold further because of the corruption of data are even more complicated to resolve. To fix this and other such data storage problems, companies have come up with trends that are resilient and flexible. These trends have the capability of making history in the world of technology, so, you better gear up to learn and later adapt to them. 2.1 AI storage continues to be the chief The speed with which AI hit the IT world just doesn’t seem to slow down even after all these years. We say this because, amongst all other concepts that were and are constantly being introduced, artificial intelligence is one applied science that has made the most amount of innovations. To further add to this, AI is now making enterprise data storage process easier with its various subsets like machine learning and deep learning. This technology is helping companies in accumulating multiple layers of data in a more assorted format. It is automating IT storages including data migrating, archiving, protecting, etc. With AI, companies will be able to control data storage across multiple locations and storage platforms. 2.2 Price markdown in Flash storage As per a report by Markets and Markets, the overall All-Flash Array Market was valued at USD 5.9 billion in 2018 and is expected to reach USD 17.8 billion by 2023, at a CAGR of 24.53% during this period. This growth only states that the need for all-flash storage is only going to broaden. Flash storage has always been a choice that most companies stayed away from mainly because of the price. But with this new trend of adopting flexible data storage ways coming in, flash storage has been offered at a much-depreciated price. The drop in the cost of this storage technology will finally enable businesses of all sizes to invest in this high-performance solution. READ MORE: HOW BUSINESS ANALYTICS ACCELERATES YOUR BUSINESS GROWTH 2.3 Hybrid multi cloud for the win With data growing every minute, just a “cloud” strategy will not be enough. In this wave of data storage services, hybrid multi-cloud is one concept that is helping manage off-premises data. With this growing concept, IT authorities will be able to collect, segregate and store, on-premises, and off-premises data in a much-sophisticated manner. This will enable in centrally managing while reducing the effort of data storage by automating policy-based data placement across a hybrid of multi-cloud and storage types. 2.4 Increased significance of software-defined storage More the data, less reliability on hardware devices – this is the growing attitude of most companies. This fear certainly has the possibility of becoming a reality. Hence, an addition to the cybersecurity strategy that companies can make is adopting software-defined storage. This approach of data storage disconnects the underlying physical storage hardware. It is programmed in a way that can function on policy-based management of resources, automated provision, and computerized storage capacity reassignment. Due to the automated function, scaling up and down of data is also faster. Some of the biggest advantages of this trend will be the governance, data protection, and security it will provide to the entire loop. 2.5 Non-Volatile Memory Express (NVMe) beats data center fabrics NVMe – as ornate as the name sounds, is a concept that is freshly introduced with the aim of making data storage simpler. Non-Volatile Memory Express is a concept that enables accessibility of high-speed storage media. It is a protocol that is showing great results in a short amount of time of its inception. NVMe not only increases the performance value of existing applications, but also enables new applications to real-time workload processing. This feature of high performance and low latency is surely a highlight of the concept. All in all, this entire trend seems to have a lot of potential that are yet to be explored. READ MORE: HOW TO MAXIMIZE VALUE FROM DATA COLLECTED FOR BUSINESSES SUCCESS 2.6 Acceleration of storage class memory Storage class memory is a perfect combination of flash storage and NVMe. This is because it perfectly fills in the gap between server storage and external storage. As data protection is one of the major concerns of enterprises, this upcoming trend, does not only protect data but also continually stores and improves it for easier segregation. A clear advantage that storage class memory has over flash and NVMe storages is that it provides memory-like byte-addressable access to data thus reducing piling up of irrelevant data. Another benefit of this trend is that it indulges in deeper integration of data for ensuring high performance and top-level data security. 2.7 Hyperconverged storage – a push to edge computing The increased demand for hyper converged storage is a result of the growth of hybrid cloud and software-defined infrastructure. Besides these technologies, its suitability for retail settings and remote offices is add on to its already existing set of features. It’s the capability of capturing data from a distance also enables cost-effectiveness and scales down the need to store everything on a public cloud. Hyper converged storage if used in its true essence can simplify IT operations and data storage for enterprises of all sizes. 3. The future of data storage According to the Internet World Stats, more than 4.5 billion internet users around the world relentlessly create an astronomical amount of data. This translates to propel companies into discovering methods or applications that help them store this data safe from harmful ransomware attacks and still use it productively for their advantage. One of the prime changes that can be estimated about the future of data storage is that companies will have to adapt to the rapid changes, and mould their process to enable quick and seamless storage of data. Another enhancement would be that IT managers and responsible authorities would have to be updated and proactive at all times to know what data storage has been newly introduced, and how it can be used for the company’s advantage. Here’s a thing, amongst all the research that enterprises are conducting, not all data storage technologies will end up becoming a hit, and will fulfil the specification of high-speed storage. But, looking at all the efforts that researchers are taking, we don’t think they are going to stop any sooner and neither is the augmentation of data!

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DRIVING DIGITAL TRANSFORMATION WITH RPA, ML AND WORKFLOW AUTOMATION

Article | April 2, 2020

The latest pace of advancements in technology paves way for businesses to pay attention to digital strategy in order to drive effective digital transformation. Digital strategy focuses on leveraging technology to enhance business performance, specifying the direction where organizations can create new competitive advantages with it. Despite a lot of buzz around its advancement, digital transformation initiatives in most businesses are still in its infancy.Organizations that have successfully implemented and are effectively navigating their way towards digital transformation have seen that deploying a low-code workflow automation platform makes them more efficient.

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Spotlight

Snowflake Computing

We are a team of data professionals changing how people use data. Our mission: to safely store, transform and analyze business data, making it easy for everyone to quickly gain insight. Founded with a vision to reinvent the data warehouse for big data, we built a completely new SQL data warehouse designed for the cloud and for today’s needs.

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