How Retail Data Analytics Can Combat the Impact of Coronavirus Outbreak on the Retail Industry

businesswire.com | April 17, 2020

A global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its recent article that examines the role of retail data analytics in combating the impact of novel coronavirus outbreak on the retail industry.technological advancements, growing customer expectations, and a rise in competitive forces. However, the growing data volumes have made it difficult for retailers to analyze and manage data, forcing them to make tough decisions that can make or break their success. To effectively address such issues, retail industry players must realize the true potential of analytics in retail and apply it in core areas to drive profitability through data-driven insights.Our retail data analytics experts can help you leverage advanced analytical solutions to enhance your business efficiency and outcomes. Speak to our analytics experts to get started.According to Quantzig’s retail data analytics experts, “The growing complexities around retail data management have made it crucial for the retail industry players to leverage retail data analytics to drive business outcomes and sustain a leading edge in the market.

Spotlight

Many healthcare organizations have a definite need for analytics and data-driven decision-making. Here are 8 tips to get you started. Don’t Forget Your Mission. Sometimes we have the tendency to focus on financial issues such as payers and compliancy, rather than on patients. Remain focused on what matters most, saving lives.


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DATA ARCHITECTURE

Databricks Launches Data Lakehouse for Retail and Consumer Goods Customers

Databricks | January 14, 2022

Databricks, the Data and AI company and pioneer of the data lakehouse architecture, today announced the Databricks Lakehouse for Retail, the company's first industry-specific data lakehouse for retailers and consumer goods (CG) customers. With Databricks' Lakehouse for Retail, data teams are enabled with a centralized data and AI platform that is tailored to help solve the most critical data challenges that retailers, partners, and their suppliers are facing. Early adopters of Databricks' Lakehouse for Retail include industry-leading customers and partners like Walgreens, Columbia, H&M Group, Reckitt, Restaurant Brands International, 84.51°(a subsidiary of Kroger Co.), Co-Op Food, Gousto, Acosta and more. "As the retail and healthcare industries continue to undergo transformative change, Walgreens has embraced a modern, collaborative data platform that provides a competitive edge to the business and, most importantly, equips our pharmacists and technicians with timely, accurate patient insights for better healthcare outcomes," said Luigi Guadagno, Vice President, Pharmacy and HealthCare Platform Technology at Walgreens. "With hundreds of millions of prescriptions processed by Walgreens each year, Databricks' Lakehouse for Retail allows us to unify all of this data and store it in one place for a full range of analytics and ML workloads. By eliminating complex and costly legacy data silos, we've enabled cross-domain collaboration with an intelligent, unified data platform that gives us the flexibility to adapt, scale and better serve our customers and patients." "Databricks has always innovated on behalf of our customers and the vision of lakehouse helps solve many of the challenges retail organizations have told us they're facing," said Ali Ghodsi, CEO and Co-Founder at Databricks. "This is an important milestone on our journey to help organizations operate in real-time, deliver more accurate analysis, and leverage all of their customer data to uncover valuable insights. Lakehouse for Retail will empower data-driven collaboration and sharing across businesses and partners in the retail industry." Databricks' Lakehouse for Retail delivers an open, flexible data platform, data collaboration and sharing, and a collection of powerful tools and partners for the retail and consumer goods industries. Designed to jumpstart the analytics process, new Lakehouse for Retail Solution Accelerators offer a blueprint of data analytics and machine learning use cases and best practices to save weeks or months of development time for an organization's data engineers and data scientists. Popular solution accelerators for Databricks' Lakehouse for Retail customers include: Real-time Streaming Data Ingestion: Power real-time decisions critical to winning in omnichannel retail with point-of-sale, mobile application, inventory and fulfillment data. Demand forecasting and time-series forecasting: Generate more accurate forecasts in less time with fine-grained demand forecasting to better predict demand for all items and stores. ML-powered recommendation engines: Specific recommendations models for every stage of the buyer journey - including neural network, collaborative filtering, content-based recommendations and more - enable retailers to create a more personalized customer experience. Customer Lifetime Value: Examine customer attrition, better predict behaviors of churn, and segment consumers by lifetime and value with a collection of customer analytics accelerators to help improve decisions on product development and personalized promotions. Additionally, industry-leading Databricks partners like Deloitte and Tredence are driving lakehouse vision and value by delivering pre-built analytics solutions on the lakehouse platform that address real-time customer use cases. Tailor-made for the retail industry, featured partner solutions and platforms include: Deloitte's Trellis solution accelerator for the retail industry is one of many examples of how Deloitte and client partners are adopting the Databricks Lakehouse architecture construct and platform to deliver end-to-end data and AI/ML capabilities in a simple, holistic, and cost-effective way. Trellis provides capabilities that solve retail clients' complex challenges around forecasting, replenishment, procurement, pricing, and promotion services. Deloitte has leveraged their deep industry and client expertise to build an integrated, secured, and multi-cloud ready "as-a-service" solution accelerator on top of Databricks' Lakehouse platform that can be rapidly customized as appropriate based on client's unique needs. Trellis has proven to be a game-changer for our joint clients as it allows them to focus on the critical shifts occurring both on the demand and supply side with the ability to assess recommendations, associated impact, and insights in real-time that result in significant improvement to both topline and bottom line numbers. Tredence will meet the explosive enterprise Data, AI & ML demand and deliver real-time transformative industry value for their business by delivering solutions for Lakehouse for Retail. The partnership first launched the On-Shelf Availability Solution (OSA) accelerator in August 2021, combining Databricks' data processing capability and Tredence's AI/ML expertise to enable Retail, CPG & Manufacturers to solve their trillion dollar out-of-stock challenge. Now with Lakehouse for Retail, Tredence and Databricks will jointly expand the portfolio of industry solutions to address other customer challenges and drive global scale together. About Databricks Databricks is the data and AI company. More than 5,000 organizations worldwide — including Comcast, Condé Nast, H&M, and over 40% of the Fortune 500 — rely on the Databricks Lakehouse Platform to unify their data, analytics and AI. Databricks is headquartered in San Francisco, with offices around the globe. Founded by the original creators of Apache Spark™, Delta Lake and MLflow, Databricks is on a mission to help data teams solve the world's toughest problems.

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BIG DATA MANAGEMENT

Penguin Releases the Decentralized Data Network for Web3.0

Penguin | January 03, 2022

Recently, Penguin team has announced the launch of their decentralized data network for Web3.0. With the advancement of blockchain technology, some innovative new players are entering the market. Some are bringing the offline world to a global audience, while others transform the way we invest in our future. Decentralized applications, DeFi, NFTs, and the Metaverse, hold immense potential for future growth and real-world uses. But what the current crypto arena lacks is an independent & one-stop web service that includes a high-performance smart contract blockchain together with a decentralized storage solution. The Penguin network brings in a universal decentralized data network specifically designed for Web 3.0. Penguin - The Decentralized Storage Platform Exclusively designed for Web 3.0, Penguin is a peer-to-peer network of nodes, which jointly provides decentralized storage and communication service. By offering a universal decentralized data network for Web3.0, the platform can fulfill multiple roles for different areas of blockchain space. Moreover, Penguin aims to work with the blockchain industry to create decentralized applications (DApps), products, and services seamlessly accessible in Web 3.0. A unique feature of the platform is that it offers automatic scaling; that is, an increase in storage space demand would be efficiently handled. This will eventually lead to a lowering of costs for the blockchain arena. Penguin also facilitates efficient data storage capabilities and quick data retrieval. The network is economically automated with a native protocol token, PEN, thanks to its built-in smart-contract-based incentive system. Therefore, the purported goal of the platform is to extend the blockchain by utilizing decentralized storage and communication to position itself as a world computer that can efficiently serve as an operating system and deployment environment for dApps. Web 3.0 - The Decentralized Internet of the Future Web 3.0 is not merely a buzzword that tech, crypto, and venture-capital classes have become interested in lately. It aims to provide a future where distributed users and machines can seamlessly interact with data, value, and other counterparties through peer-to-peer networks, eliminating the need for any third parties. It is built majorly on three novel layers of technological innovation. Those are edge computing, decentralized data networks, and artificial intelligence. Web 3.0, built on blockchain, eliminates all big intermediaries, including centralized governing bodies or repositories. Moreover, the most significant evolution enabled by Web 3.0 is the minimization of the trust required for coordination on a global scale. It fundamentally expands the scale and scope of human and machine interactions to a far new level. These interactions range from easy payments to richer information flows and trusted data transfers, all without passing through a fee-charging intermediary. Web 3.0 enhances the current internet service with significant characteristics like trustless, verifiable, permissionless, self-governing, etc. This is why a permissionless, decentralized blockchain like Penguin plays a pivotal part in developing the so-called "decentralized internet of the future." Decentralized data networks like Penguin make it possible for data generators to store or sell their data without losing ownership control, compromising privacy, or reliance on intermediaries or go-betweens. Blockchain Technology and Web 3.0 Blockchain technology and cryptocurrencies have always been an integral part of Web3.0. It provides financial incentives for anyone who wants to create, govern, contribute, or improve projects. Today the internet needs Web 3.0, a new generation of the Internet protocol that facilitates free identity, free contracts, and free assets. Blockchain technology with its advanced network fundamentals offers a near-perfect solution with in-built smart contracts for self-deployment and access, decentralized addresses as accounts, etc. Penguin, the decentralized data network, provides an available decentralized private data storage solution for all Web3.0 developers. How Does Penguin Benefit The Development Of Web 3.0 Today we live in a data-driven world, where companies often collect massive amounts of user data and use this data with the intent to deliver value. Data privacy has become a greater concern over the past few years. However, the Internet ecosystem has fundamentally changed several concerns like data privacy and storage. This is referred to as Web 3.0, and it ensures this by deploying blockchain. Penguin primarily focuses on data storage with zero downtime. It also features permanent versionable content storage, zero error operation, and resistance to intermittent disconnection of nodes. With its exceptional privacy attributes like anonymous browsing, deniable storage, untraceable messaging, and file representation formats that leak no metadata, Penguin meets with the growing security demand on the web. Penguin also offers continuous service and resilience against outages or targeted attacks. The platform facilitates the creation of many products, where all products rely on APIs and SDKs provided by Penguin. Penguin - An Infrastructure for A Self-Sovereign Society Penguin is more than just a network; the protocol sets a strong foundation for creating a market economy around data storage and retrieval. The platform also has entered into a host of prospective and strategic partnerships and collaborations with different projects and protocols in the DeFi, GameFi, NFTs, smart contract, and other metaverse spaces. Moreover, as a platform for permissionless publication, the Penguin network promotes information freedom. The platform’s design requirements can only be met by the network native token PEN. Some of the significant features that Web 3.0 offers are zero central point of control by removing intermediaries, complete ownership of data, sharing information in a permissionless manner, reducing hacks and data breaches with decentralized data, and interoperability. On the other hand, Penguin aims to build an infrastructure for a self-sovereign society. Without permission and privacy, Penguin efficiently meets the needs of freedom of speech, data sovereignty, open network market, and ensuring its security through integrity protection, censorship resistance, and attack resilience. Some of its vital meta values are Inclusivity, the need to include the underprivileged in the data economy, lowering the barrier of entry to explain complex data flows, and building decentralized applications. The integrity of the online persona is necessary. Because Penguin is a network with open participation and offers services and permissionless access to publishing, sharing, and investing your data, users have complete freedom to express their intention and have full authority to decide whether they want to remain anonymous or share interactions. Incentivization or economic incentives ensure that participants' behavior aligns with the network's desired emergent behavior. Finally, Impartiality guarantees content neutrality and prevents gate-keeping. It successfully rules out other values that treat any particular group as a privileged or express preference for specific content or even data from any specific source. These meta values make Penguin an efficient decentralized, permissionless data network for Web 3.0. Penguin’s Future-Proof Design Principles - Meeting the Needs of Web 3.0 The information society and data economy have ushered in an era where online transactions and big data are pivotal for everyday life. Therefore, it is essential to have a future-proof and advanced supporting technology like Penguin. The network offers a strong guarantee for continuity. The Penguin network ensures continuity by following some general requirements or system attributes. Some of them are stable and resilient specifications and software implementation. Scalable enough to accommodate many orders of magnitude, more users, and data without lowering the performance or reliability for mass adoption, secure and resilient solution to deliberate attacks, Penguin is a self-sustaining autonomous solution that is independent of human or organizational coordination or any legal entity's business.

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DATA ARCHITECTURE

Skyflow Launches Integration to Build Privacy and Data Protection into the Snowflake Data Cloud

Skyflow | June 17, 2022

Skyflow, the Data Privacy Vault company, announced a new integration with Snowflake, the Data Cloud company, at Snowflake Summit 2022. Now, Snowflake customers can quickly and easily integrate Skyflow to isolate sensitive information being shared in the Snowflake Data Cloud and secure it using Skyflow’s Data Privacy Vault. Customers can still query and share sensitive data while it remains protected using the vault, which insulates the application stack and reduces the overall compliance scope. What if privacy had an API? Building data privacy infrastructure from scratch or pulling together piecemeal solutions can take a significant amount of time and resources. Skyflow’s API was built so that companies can be up and running with world-class data privacy infrastructure in hours. “Companies that depend on data often handle PII, but building infrastructure to protect that sensitive data is too often an afterthought. “With Skyflow and Snowflake, teams can unlock the power of data while reducing the time, money, and resources historically spent on privacy.” Tarik Dwiek, Head of Technology Alliances at Snowflake Every company should prioritize privacy as they build to keep sensitive data out of unnecessary workflows and data streams. The risk of a security breach and the cost of breaking customer trust becomes amplified in highly regulated industries, like fintech and digital health. Skyflow radically simplifies how companies manage, access and govern sensitive PII data, and with dedicated fintech and healthtech data vaults, PHI and PCI-regulated data can be protected as well. Global Data Residency and Data Protection for Customer Data Both startups and enterprises across verticals can benefit from Skyflow’s scalable and customizable approach to privacy. The zero-trust vaults with a simple and elegant API can be deployed anywhere in the world, allowing developers to quickly build applications and workflows without worrying about data privacy, compliance or residency. Sensitive information can be stored in a specific geolocation to help teams achieve data residency requirements related to GDPR, DCIA, LGPD, PDPA, and Skyflow’s solution can drastically reduce the amount of time and resources needed to achieve compliance with standards like PCI DSS and HIPAA. “Skyflow is partnering with Snowflake to simplify how developers and CIOs solve for data protection. This is key in a world where privacy is becoming a top priority for users and regulators globally,” says Anshu Sharma, CEO of Skyflow. “Together, Snowflake and Skyflow can help customers put privacy first so they can focus on their core products.” About Skyflow Founded in 2019, Skyflow is a data privacy vault for sensitive data. Our founders wanted to radically transform how businesses handle their users’ financial, healthcare and other personal data -- the data that powers the digital economy. Inspired by the data vaults that leaders like Apple and Netflix built to handle customer data, our vision was to deliver the same kind of data privacy vault as a simple and elegant API, something any developer could easily build into their application, the same way they use Stripe, Twilio, or Okta. Skyflow is based in Palo Alto, California, with offices in Bangalore, India

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DATA ARCHITECTURE

VAST Data Announces Newest Feature Releases

VAST Data | May 23, 2022

VAST Data, the data platform company for the AI-powered world, today announced the latest versions of Universal Storage, bringing enhanced enterprise security features, performance and scale to its flagship software offering. With an install base of multiple exabytes and an annual growth rate of 300%, customers are continually challenging VAST with new feature requests to power their data-intensive use cases. This release, in total, represents more than 30 new features that have been directly requested by VAST customers. Testament to VAST’s distinguished R&D team, the average turnaround of “feature request to code” is four months. “Since our founding, we have always maintained a customer-first mindset, continuously adding new features and functionality at a rapid pace to solve their ever-growing and changing application needs. Ultimately, we work to foster a close collaboration with our customers whose use cases are our product’s North Star. This level of agility is never seen from legacy providers of data infrastructure. Our responsive approach not only helps our customers manage their data easier, it also creates long-term business partnerships with customers and the broader market that is good for VAST.” Jeff Denworth, co-founder of VAST Data VAST’s Universal Storage data platform provides customers with a cloud-native containerized storage architecture, and eliminates storage tiering to unleash insights on their massive reserves of data. Versions 4.2 and 4.3 expand on an already stellar feature set, while continuing to deliver increased functionality, scalability and security features — and still improving system performance. Notable features in the latest release include: Enhanced Security VAST expands protection against ransomware attacks with Object Locks. Customers can set policies on buckets and objects to make them immutable, preventing users and applications from deleting or modifying an object before its expiry. Admins can also use S3 bucket policies to define permissions, enabling secure identity and access management. Now generally available in Universal Storage, Indestructible Snapshots provide an additional layer of protection that safeguards immutable snapshots and policies from sophisticated external or internal attackers. Compliance with Federal Information Processing Standards (FIPS) 140-2, using validated cryptographic libraries for encryption at rest. Flexible Cloud Data Management One platform that integrates S3 bucket management for integrated file and object storage. Customers can easily share data between file and object storage protocols — Universal Storage is the only platform that provides this functionality, giving customers the best of both worlds. Check out this blog post and deep-dive demo. Further improvements to VAST’s centralized Uplink Cloud Management system include integration with Zendesk, providing customers with a smooth and intuitive support experience to create, track and manage their support tickets. For more information about VAST’s Uplink Cloud Management service, check out this blog post and deep-dive demo. Enhanced Performance for Secure Protocols Support for NFS4 over RDMA, delivering a performance boost for NFS4. By extending NFS4 over RDMA, VAST is increasing speed while providing customers with an enhanced security blanket via a Kerberized connection. VAST is the only vendor to accelerate NFS4 with RDMA, making it possible to power high-performance high-scale HPC, AI, media and analytics workloads with a simple and secure client interface. About VAST Data VAST Data delivers the data platform at the heart of the AI-powered world, accelerating time-to-insight for workload-intensive applications. The performance, scalability, ease of use and cost efficiencies of VAST’s software helps enterprise organizations overcome the historic barriers to building all-flash data centers. Founded in 2019, VAST is the fastest-selling data infrastructure startup in history.

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Spotlight

Many healthcare organizations have a definite need for analytics and data-driven decision-making. Here are 8 tips to get you started. Don’t Forget Your Mission. Sometimes we have the tendency to focus on financial issues such as payers and compliancy, rather than on patients. Remain focused on what matters most, saving lives.

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