Data is the future of business; we’ve all heard it a million times by now, but the hype cycle keeps on spinning. With each of us now leaving an unending trail of data in our wake, it was only a matter of time before someone worked out how to make money from it. Throw unlimited processing power and storage into the mix — thank you very much, cloud computing — add a sprinkle of artificial intelligence (AI) and, hey presto, we’re all living in the future. If only anyone other than largest corporations on earth knew how to make any sense of the ocean of data in which we now swim. In fact, any business can. More about KPIs than rampaging AIs, step back from the daydreams about the Star Trek transporter or the cybernetic singularity and big data is really about improving mundane, but important, business processes. “It’s a question of operational intelligence, really,” said Phil Ryan, customer relationship management solutions manager at Egro Group. … [Read more...] about Betting the business on big data
Report on big data
FOCUS: Operators, Internet firms, banks to set up big data union to adjust regulation
By Yekaterina Yezhova MOSCOW, Aug 13 (PRIME) -- Six Russian companies are reported to intend to set up a big data association to work out rules of collecting and processing information in the Internet, the idea that has been in the air for more than a year, and experts welcome the initiative. “Creation of a big data association is homage to the world expertise, when technological giants join efforts to tackle several emerging issues fast. It helps avoid unpopular legal moves that could entail extra costs for companies and undermine their margins,” investment company Freedom Finance analyst Anastasia Sosnova told PRIME. “A European analogue of the projected Russian association could be the Big Data Value Association, which comprises Orange, SAP, Siemens, Nokia, IBM, and Telecom Italia.” Mass media reported that the association will be forged by mobile operator MegaFon, Internet companies Mail.Ru Group and Yandex, banks Sberbank and Tinkoff Bank, and research … [Read more...] about FOCUS: Operators, Internet firms, banks to set up big data union to adjust regulation
Investigative Report: On The Trail Of The 12 Indicted Russian Intelligence Officers
A U.S. grand jury charged 12 Russian citizens on July 13 with interfering in the 2016 U.S. presidential election by organizing cyberattacks on the computers of Democratic Party figures during the campaign. The indictment contains the names of the dozen accused, who are described as "employees of the GRU," referring to Russian military intelligence. In addition, the indictment contains the numbers of the military units that they allegedly serve in and a relatively detailed account of the methods they purportedly used to break into the computers and publish the information they acquired in the hacking attacks. RFE/RL has conducted its own open-source investigation into those accused intelligence operatives, although there is relatively little openly available information about the men or their military units. But some information does seem important: One of the accused participated in a 2014 conference of hackers on the topic of "infiltration, hacking, and the national peculiarities of … [Read more...] about Investigative Report: On The Trail Of The 12 Indicted Russian Intelligence Officers
FCA warns financial firms over Big Data
LONDON (Reuters) - Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. The Chair of the Financial Conduct Authority (FCA) Charles Randell, speaks at a Reuters Newsmaker event, in London, Britain July 11, 2018. REUTERS/Hannah McKay The use of Big Data requires good communication so that consumers understand and accept a firm’s approach to using their data and don’t end up being “disenfranchised”, Randell said. In the financial sector, insurers are looking to ramp up their use of big data, including social media use, to price motor or home insurance more accurately, rewarding customers considered lower risk, such as due to good driving habits. Some insurers offer lower health insurance premiums based on regular gym attendance. “By good communication, I don’t mean pages and pages … [Read more...] about FCA warns financial firms over Big Data
UK watchdog warns financial firms over Big Data
LONDON (Reuters) - Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. The Chair of the Financial Conduct Authority (FCA) Charles Randall, speaks at a Reuters Newsmaker event, in London, Britain July 11, 2018. REUTERS/Hannah McKay The use of Big Data requires good communication so that consumers understand and accept a firm’s approach to using their data and don’t end up being “disenfranchised”, Randell said. In the financial sector, insurers are looking to ramp up their use of big data, including social media use, to price motor or home insurance more accurately, rewarding customers considered lower risk, such as due to good driving habits. Some insurers offer lower health insurance premiums based on regular gym attendance. “By good communication, I don’t mean pages and pages … [Read more...] about UK watchdog warns financial firms over Big Data