Over the past few years, big data has proved to be a game-changer in modern industries. Prominent stakeholders, academicians, and key industry players agree that while there has been much hype about big data, it is progressively gaining real value with time. Big Data describes the use of large amounts of data from diverse sources with a high processing speed to generate economic benefits. Big data … [Read more...]
How Predictive Analytics Differ From Business Analytics?
Predictive analytics uses historical data to predict future events, including in the areas of finance, meteorology, security, business, insurance, logistics, mobility and marketing. In general, historical data is used by predictive analytics to create a mathematical model that captures important trends. This predictive model is then applied to current data to predict what will happen next or to … [Read more...]
6 Reliable Ways to Secure Big Data
Business owners and managers are realizing that data is an important element of success in any business. For this reason, more and more businesses are collecting a lot of data to help in decision-making. With such data, you can establish key insights to help you improve different aspects of your business. However, securing the large volumes of data that you collect each day can be a … [Read more...]
What is Computational Linguistics?
Computer linguistics (CL) or linguistic data processing examines how natural language can be processed algorithmically in the form of text or language data using the computer. It is the interface between linguistics and computer science. The term natural language processing (NLP) is common in literature and computer science. Computer linguistics can be traced back to the 1960s as a term. With … [Read more...]
How Big Data Helps with Anti-Money Laundering Compliance
In the age of digitalization, information is everything. As innovation continues to influence human life and change our way of living, it's only logical to deduce that the more reliable data we collect, the better we can understand reality. Through careful evaluation, interpretation, and utilization of such massive amounts of data, it becomes easier to solve problems, create better products and … [Read more...]
Data Security as a Basis for Data Democratization
Collecting data is nothing new for businesses. But it is only gradual that the realization is gaining that no progress can be made with hoarding masses of data. It is important to make use of the collected treasures. Especially in the past twelve months, as in many other areas of digital transformation, companies have set in motion. And time and again, the term data democratization" is used to … [Read more...]
What Does Data Cleansing Mean?
Data cleansing includes various methods for removing and correcting data errors in databases or other information systems. For example, the errors may consist of incorrect (originally incorrect or outdated), redundant, inconsistent, or incorrectly formatted data. Key steps for data cleansing are duplicate detection (detecting and merging the same data sets) and data fusion (merging and completing … [Read more...]
What Are Object-Oriented Databases
An object-oriented database is a database that is based on the object database model. In contrast to the relational database, data is managed here as objects in the sense of object-orientation. The associated database management system is called the object-oriented database management system. Object database and object database management system together form the object database system. An object … [Read more...]
What is ACID in Computing
ACID is an abbreviation in computer science. It describes frequently desired properties of transactions in database management systems (DBMS) and distributed systems. It stands for atomicity, consistency, isolation and durability. They are considered a prerequisite for the reliability of systems. The acronym ACID for characterizing transactions was coined in 1983. Atomicity A transaction is … [Read more...]
What is Small Data?
Small/little data are data of a sufficiently small dimension for human understanding. Both their volume and format make them accessible, informative and actionable for decision making. While the term "big data" refers to machines, micro-data refers to people, small data is what we used to understand simply by the phrase data. The only way to understand big data is to reduce them into visual … [Read more...]
What is Data Fusion?
Data fusion is the process of merging and completing incomplete data sets. It is an important part of information integration. Data in a recipient record is supplemented with the help of a donor record. The donor record consists of variables and the recipient record from variables. The variables are therefore present in both data sets. Based on the donor data set, a model for calculating the … [Read more...]
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