Predictive Analytics, Artificial Intelligence, bots, data science – the waves of advances in data science keep on coming. Access to old data and not skill base or technology, turns out to be the biggest obstacle for powerful analysis insight which requires a tedious data preparation. Data Silos are something of a buzzword, a demon lurking in the enterprise which makes it prohibitively costly to extract data and makes company initiatives nearly impossible. Silos lead on to limited information, redundant data and interdepartmental inefficiencies. To make the data streamlined, accessible and impactful to the organization’s bottom-line, the development of silos must be mitigated in a progressive and pragmatic approach. Things aren’t as beautifully simple as the buzzword “data lake” might conjure. A combination of various methods including use of the right software, encouraging proactive communication, blurring departmental descriptions and roles coupled with the goal of integration at the background would lead to an integrated platform thus overcoming the problem of data silos. Focus on Wide Data Analytics and not only big data, stands indispensible to achieve a future state of mature analytical competency, however, silos aren’t entirely evil in the context of data management.

Read More at: https://smartdatacollective.com/how-to-eliminate-silos-in-company-wide-data-analytics/

Organizations which create maximum employment tend to be the most disrupting. Like the agricultural sector, which employed nearly 40% of the population in the 20th century now it employs less than 2%. As we know financial services form a big part of the workforce. Is it going to disrupt too? A new technology, Block-chain technology is threatening to disrupt it. So how does this technology work? The key point being encryption and storing them in an append only method. The basic concept is a user first encodes a message Using a private key and then shares a corresponding unique public key with anyone authorized to read the message. The public key not only allows the authorized person to read the message, but also verifies without a doubt as to who the source of the message is. The data should be updated at regular intervals, thus making the data immutable, tamper proof removing the need for any mediators. The biggest challenge of Block-chain is its integration with other systems and phased roll out. Read more at: http://cio.economictimes.indiatimes.com/dobig/news/detail/1472