Smart Data Collective

FEBRUARY 2, 2021

Big Data is more than a trend or a buzzword. In 2020, the size of the global Big Data market reached 56 billion, and it’s on track to exceed 103 billion by 2027. Consumers are generating huge amounts of data at a rapid rate, and it is estimated that up to 90% of all data was generated only in the past two years.

Big Data 85

Big Data Recreation/Entertainment Cost-Benefit Finance 85

IBM Big Data Hub

MAY 4, 2020

But some AI models can add complexity and risk. You can minimize that risk and also streamline the process of model validation by using IBM Cloud Pak for Data , a data and AI platform that includes IBM Watson Studio, Watson Machine Learning, Watson OpenScale and other services.

Risk Management 85

Risk Management Risk Modeling Management 85

Smart Data Collective

OCTOBER 14, 2019

Advances in mass storage and mobile computing brought about the phenomenon we now know as “big data.” That is how “big” the need for big data analytics came to be. More specifically, big data analytics offers users the ability to generate relevant insights from heaps of data.

Big Data 70

Big Data Data Analytics Analytics Unstructured Data 70

Smart Data Collective

MAY 15, 2019

Big data has created both positive and negative impacts on digital technology. On the one hand, big data technology has made it easier for companies to serve their customers. Big data has created a number of security risks for Bluetooth users. Bluetooth Security Risks in the Age of Big Data.

Big Data 93

Big Data Risk Measurement Data mining 93

Smart Data Collective

JULY 16, 2023

Big data is the most important business trend of the 21st century. The usage, volume, and types of data have increased significantly. In fact, big data keeps gaining momentum. We mentioned that data analytics is vital to marketing , but it is affecting many other industries as well.

ROI 71

ROI Data Analytics Analytics Risk Management 71

IBM Big Data Hub

JANUARY 28, 2020

Any financial services firm using AI must revisit its approach to model risk management. Watson OpenScale helps organizations validate and monitor AI models to enhance compliance with regulations, provide fair and explainable outcomes, and mitigate business risk. To date, Watson OpenScale has focused on AI models in production.

Risk 84

Risk Modeling Big Data Management 84

Smart Data Collective

SEPTEMBER 24, 2019

Big data is changing the world in a number of ways. Companies rely on data to deliver efficient services, but they also have to worry about cybersecurity risks. Towards Data Science provided a very detailed guide on the relevance of machine learning to hackers. Not Backing Up Data. Vulnerable Passwords.

Big Data 78

Big Data Risk Machine Learning Data-driven 78

Analytics Vidhya

AUGUST 31, 2022

Introduction A data lake is a central data repository that allows us to store all of our structured and unstructured data on a large scale. You may run different types of analytics, from dashboards and visualizations to big data processing, real-time analytics, and machine […].

Data Lake 242

Data Lake Unstructured Data Big Data Dashboards 242

IBM Big Data Hub

MARCH 3, 2020

However, AI models introduce new risks. Many financial institutions are rapidly developing and adopting AI models. They’re using the models to achieve new competitive advantages such as being able to make faster and more successful underwriting decisions.

Risk Management 72

Risk Management Risk Modeling Management 72

Smart Data Collective

DECEMBER 9, 2021

It’s no secret that big data technology has transformed almost every aspect of our lives — and that’s especially true in business, which has become more tech-driven and sophisticated than ever. A number of new trends in big data are affecting the direction of the accounting sector. billion last year.

Technology 124

Technology Big Data Machine Learning Deep Learning 124

John Wheeler

DECEMBER 18, 2018

Last week, I had the distinct privilege to join my Gartner colleagues from our Risk Management Leadership Council in presenting the Q4 2018 Emerging Risk Report. We hosted more than 500 risk leaders across the globe in our exploration of the most critical risks.

Digital Transformation 96

Digital Transformation Risk Management Internet of Things Risk 96

IBM Big Data Hub

FEBRUARY 28, 2024

Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Strategy 103

Strategy Technology Cost-Benefit Risk Management 103

Smart Data Collective

OCTOBER 26, 2019

Having cost-effective off-site backup allows companies to focus more on their methodology for backing up data than the price of that method. Closer sites for data storage mean lower cost, but a higher risk to the company. Big Data Storage Concerns. Further sites may be less cost-effective but more secure.

Big Data 45

Big Data Data Lake Cost-Benefit Measurement 45

DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. Model Validation – Prior to the use of a model (i.e.,

Risk 111

Risk Modeling IT Risk Management 111

Smart Data Collective

SEPTEMBER 21, 2021

Retailers around the world are discovering that big data can be incredibly valuable to their bottom lines. A growing number of businesses are starting to look for new data-driven approaches to streamline their business models. You will want to use big data to improve this approach. Average Transaction Value.

Data-driven 109

Data-driven Metrics Sales Big Data 109

AWS Big Data

MARCH 8, 2024

In-stream anomaly detection helps you save on indexing and avoids the need for extensive resources to handle big data. It lets organizations apply the appropriate resources at the appropriate time, managing large data efficiently and saving money. Leave any thoughts and questions in the comments.

Data Processing 94

Data Processing Risk Management Machine Learning Big Data 94

IBM Big Data Hub

OCTOBER 9, 2023

Even if it adheres to a lot of regulatory practices, for the 13th year in a row, the healthcare industry reported the most expensive data breaches, at an average cost of USD 10.93 Medical Device Risk Management is prioritizing patient safety through rigorous methodology and risk control.

Risk Management 83

Risk Management Risk Management Measurement 83

AWS Big Data

FEBRUARY 1, 2024

Amazon Redshift features like streaming ingestion, Amazon Aurora zero-ETL integration , and data sharing with AWS Data Exchange enable near-real-time processing for trade reporting, risk management, and trade optimization. The query to generate this chart has similar performance metrics as the preceding chart.

Data Warehouse 119

Data Warehouse Dashboards Risk Management Risk 119

CIO Business Intelligence

APRIL 17, 2023

Challenges for fraud risk management Fraud is a big and a worthwhile business for today’s online criminals, who troll the internet and insert data-stealing malware into vulnerable sites and mobile apps. These are just some of the advanced technologies TCS deploys and customizes for financial clients,” Trikha says.

Digital Transformation 100

Digital Transformation Risk Management Risk Consulting 100

IBM Big Data Hub

OCTOBER 4, 2022

Furthermore, 59% of executives claim AI can improve the use of big data in their organizations, facts about artificial intelligence show. ( Risk Management: Manage risk and compliance to business standards, through automated facts and workflow management. IBM Global AI Adoption Index 2022.).

Metadata 101

Metadata Risk Risk Management Experimentation 101

IBM Big Data Hub

DECEMBER 4, 2023

DORA has several objectives, including to comprehensively address information and communications technology (ICT) risk management in the financial services sector and harmonize the ICT risk management regulations that already exist in individual EU member states.

Risk Management 93

Risk Management Risk Cost-Benefit Business Services 93

Smart Data Collective

APRIL 22, 2020

Big data has turned the software industry on its head. The relationship between software development and big data is a two-way street. While many software developers are looking to create new applications that use big data, they are also using big data to streamline development.

Data-driven 93

Data-driven Software Big Data Testing 93

IBM Big Data Hub

MARCH 20, 2024

This is evident from emerging regulatory requirements and expectations in UK (Bank of England’s Critical Third-Party regime), Europe (Digital Operational Resilience Act)), Australia (APRA CPS-230 Operational Risk Management) and Canada (OSFI – Operational Resilience and Operational Risk Management), etc.

Risk Management 79

Risk Management Risk Enterprise Business Services 79

IBM Big Data Hub

FEBRUARY 19, 2024

Big data and predictive analytics are increasingly being used to improve forecasting accuracy, allowing businesses to respond more effectively to changes in customer needs. Advanced software tools can automate some parts of forecasting, providing real-time updates and alerts when inventory levels are too high or low.

Strategy 87

Strategy Management Forecasting Cost-Benefit 87

IBM Big Data Hub

MAY 1, 2024

Supplier relationship management Generative AI can analyze supplier performance data and market conditions to identify potential risks and opportunities, recommend alternative suppliers and negotiate favorable terms, enhancing supplier relationship management.

Forecasting 84

Forecasting Optimization Digital Transformation Risk 84

Smart Data Collective

JUNE 26, 2019

The insurance industry is based on the idea of managing risk. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. The twenty-first century offers a lot of exciting innovations when it comes to data processing and analytics.

Insurance 95

Insurance Data Analytics Analytics IoT 95

CIO Business Intelligence

APRIL 28, 2022

Its success is one of many instances illustrating how the financial services industry is quickly recognizing the benefits of data analytics and what it can offer, especially in terms of risk management automation, customized experiences, and personalization. . compounded annual growth from 2019 to 2024. .

Analytics 91

Analytics Insurance Big Data Uncertainty 91

Cloudera

AUGUST 12, 2021

By using Cloudera’s big data platform to harness IoT data in real-time to drive predictive maintenance and improve operational efficiency, the company has realized about US$25 million annually in new profit resulting from better efficiency of working sites. . Risk Management. Conclusion.

Data-driven 108

Data-driven Manufacturing Insurance Risk Management 108

IBM Big Data Hub

DECEMBER 8, 2023

Risk mitigation and IBM Business faces many challenges today, including combating financial crime and fraud, controlling financial risk, and mitigating risks in technology and business operations.

Risk 73

Risk Strategy Risk Management Insurance 73

IBM Big Data Hub

APRIL 12, 2024

However, they follow different approaches to risk management by using a risk matrix to assess risk at the start of an optimization cycle. Asset investment planning (AIP) tools bring value in optimizing various, sometimes conflicting, value drivers. They combine new asset investments with existing asset replacements.

Optimization 89

Optimization Risk Risk Management Management 89

IBM Big Data Hub

OCTOBER 30, 2023

Responses to the required questions that avoid intensely technical detail will allow for conversations on cybersecurity risks to be more accessible to all parties involved with the company. In fact, the Cost of a Data Breach Report 2023 found that the average cost of a breach climbed to a new high of USD 4.45 increase from 2020.

Risk Management 80

Risk Management Risk Reporting Management 80

IBM Big Data Hub

APRIL 19, 2024

Mobile-connected technicians experience improved safety through measures such as access control, gas detection, warning messages or fall recognition, which reduces risk exposure and enhances operational risk management (ORM) during work execution.

Management 92

Management Internet of Things Risk IoT 92

IBM Big Data Hub

APRIL 4, 2024

Lots of innovation is happening, with new technologies emerging in areas such as data and AI, payments, cybersecurity and risk management, to name a few. A third-party risk management review, where the ISV needs to describe how it is complying to required controls. Most of these new technologies are born-in-cloud.

Cost-Benefit 60

Cost-Benefit Risk Management Risk Digital Transformation 60

Smart Data Collective

OCTOBER 13, 2021

Data analytics enables you to observe consumer patterns to acquire and retain customers by understanding their behavior and delivering what they want. Big data also helps you identify potential business risks and offers effective risk management solutions.

Technology 123

Technology Cost-Benefit Experimentation Machine Learning 123

IBM Big Data Hub

APRIL 18, 2023

ISO 20022 drives improved analytics and new revenue opportunities ISO 20022 enables more sophisticated payment analytics by providing a richer data set for analysis. Enhanced Risk Management: better identify and manage risks, such as fraud, credit risk and operational risk.

Risk Management 116

Risk Management Cost-Benefit Risk Data-driven 116

IBM Big Data Hub

JANUARY 16, 2024

Learn more about hybrid cloud for financial services Trend: Cybersecurity risk management AI brings about more challenges, especially when it comes to cyber risks. Mitigation efforts and having the proper risk management tools will be vitally important as threats increase.

Risk Management 51

Risk Management Insurance Cost-Benefit Risk 51

IBM Big Data Hub

MAY 23, 2023

The AUP report is available to clients for their internal risk management practices and for demonstrating due diligence and oversight of their cloud service providers to their regulators. Contact your IBM account team to obtain a copy of the AUP report.

Reporting 68

Reporting Risk Management Data Processing Risk 68