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Implementing a Cloud Data Strategy

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At a time when most major companies are showing a long-range commitment to “data-driven culture,” data is considered the most prized asset. An Enterprise Data Strategy, along with aligned technology and business goals, can significantly contribute to the core performance metrics of a business. The underlying principles of an Enterprise Data Strategy comprise a multi-step framework, a well-designed strategy process, and a definitive plan of action. However, in reality, very few businesses today have their Data Strategy aligned with overall business and technology goals.

Data
Management Mistakes Are Costly

Unless the overall business and technology goals of a business are aligned with a Data Strategy, the business may suffer expensive Data Management failure incidents from time to time. If the Data Strategy is implemented in line with a well-laid out action plan that seeks to transform the current state of affairs into “strategic Data Management initiatives” leading to the fulfillment of desirable business needs and objectives in the long term, then there is a higher chance of that Data Strategy achieving the desired outcomes. Why Your Data Strategy Needs to Align with Your Business Strategy explains the role of the overall business strategy in shaping an Data Strategy.

Data
provides “insights” that businesses use for competitive advantage. When overall
business goals and technology goals are left out of the loop of an Enterprise
Data Strategy, the data activities are likely to deliver wrong results, and
cause huge losses to the business.

What Can Businesses Do to Remain Data-Driven?

Businesses that have adopted a data-driven culture and those
expecting to do so, can invest some initial time and effort to explore the
underlying relationships between the overall business goals, technology goals,
and Data Strategy goals. The best part is they can use their existing advanced
analytics infrastructure to make this assessment before drafting a policy
document for developing the Data Strategy.

This initial investment in time and effort will go a long way
toward ensuring that the business’s core functions (technology, business, and
Data Science) are aligned and have the same objectives. Without this effort,
the Data Strategy can easily become fragmented and resource-heavy—and ineffective.

According to Anthony Algmin, Principal at Algmin Data Leadership, “Thinking of a Data Strategy as something independent of Business Strategy is a recipe for disaster.”

Data Strategy Trends in 2020 indicates that Data Governance has recently become a central concern for data-centric organizations, and all future Data Strategies will include Data Governance as a core component. The future Data Strategy initiatives will have to take regulatory compliances seriously to ensure long-term success of such strategies. The hope is that this year, businesses will employ advanced technologies like big data, graph, and machine learning (ML) to design and implement a strong Data Strategy.

In today’s digital ecosystem, the Data Strategy means the difference between survival and extinction of a business. Any business that is thinking of using data as a strategic asset for predetermined business outcomes must invest in planning and developing a Data Strategy. The Data Strategy will not only aid the business in achieving the desired objectives, but will also keep the overall Data Management activities on track.

A Parallel Trend: Rapid Cloud Adoption

As Data Strategy and Data Governance continue to gain momentum among global businesses, another parallel trend that has surfaced is the rapid shift to cloud infrastructures for business processing.

With on-premise Data Management practices, Cloud Data Management practices also revolve around MDM, Metadata Management, and Data Quality. As the organizations continue their journey to the cloud, they will need to ensure their Data Management practices conform to all Data Quality and Data Governance standards.

A nagging concern among business owners and operators who have either shifted to the cloud or are planning a shift is data security and privacy. In fact, many medium or smaller operations have resisted the cloud as they are unsure or uninformed about the data protection technologies available on the cloud. Accommodating the Growing Enterprise Shift to the Cloud stresses that current businesses owners expect cloud service providers to offer premium data protection services.

The issues
around Cloud Data Management are many: the ability of cloud resources to handle
high-volume data, the security leaks in data transmission pipelines, data storage
and replication policies of individual service providers, and the possibilities
of data loss from cloud hosts. Cloud customers want uninterrupted data
availability, low latency, and instant recovery—all the privileges they have
enjoyed so far in an on-premise data center.

One technology solution often discussed in the context of cloud data protection is JetStream. Through a live webinar, Arun Murthy, co-founder and Chief Product Officer of Horton Works, demonstrated how the cloud needs to be a part of the overall Data Strategy to fulfill business needs like data security, Data Governance, and holistic user experience. The webinar proceedings are discussed in Cloud Computing—an Extension of Your Data Strategy.

Cloud Now Viewed as Integral Part of Enterprise Data Strategy

One of the most talked about claims made by industry experts at the beginning of 2017 was that it “would be a tipping point for the cloud.” These experts and cloud researchers also suggested that the cloud would bring transformational value to business models through 2022, and would become an inevitable component of business models. According to market-watcher Forrester, “cloud is no longer about cheap servers or storage, (but), the best platform to turn innovative ideas into great software quickly. Cloud Computing: Three Strategies for Making the Most of On-Demand offers a round-up of expert opinions about the future of the cloud

As cloud enables big data analytics at scale, it is a popular computing platform for larger businesses who want the benefits without having to make huge in-house investments. Cloud holds promises for medium and small businesses, too, with tailor-made solutions for custom computing needs at affordable cost. More about big data analytics on the cloud can be found in Review Paper on Big Data Analytics in Cloud Computing.

Which
Strategies Are Essential for Cloud Environments?

According to IDC, investments in “digital transformation” are slated to touch $2.0 trillion in 2021, with cloud infrastructure taking the top growth slot at 29.4 percent CAGR. The shocking anomaly is that while businesses are making huge investments in setting up cloud infrastructures, they have not yet developed well-rounded Cloud Strategy and Data Management strategies to protect their investments.

The following points should be kept in mind while developing a strategy plan for the cloud transformation:

  • Consensus Building for Cloud Data Strategy: The core requirement behind building a successful Data Strategy for the cloud is consensus building between the central IT Team, the cloud architect, and the C-Suite executives. The blog post 5 Steps to Develop Your Cloud Data Management Strategy suggests that so far, business operators have not spent time on developing optimized cloud strategies, which includes Cloud Data Strategy. This problem is compounded in cases where businesses may be mix-matching their cloud implementations.
  • Data Architectures on Native Cloud: The news feature titled Six Key Data Strategy Considerations for Your Cloud-Native Transformation throws light on cloud-native infrastructure, which is often ignored during a business transformation. According to this article, though enterprises are busy making investments in a cloud-native environment, they rarely take the time to plan the transformation, thus leaving Data Architecture issues like data access and data movement unattended. Similar sentiments are found in How to Build the Right Data Strategy for Your Cloud Native Applications.
  • Creating Data Replicas: Data replication on the cloud must avoid legacy approaches, which typically enabled data updating after long durations.
  • Data Stores across Multiple Clouds: HIT Think: How to Assess Weak Links in a Cloud Data Strategy specifically refers to storage of healthcare data, where data protection and quick data recovery are achieved through the provisioning of multiple cloud vendors. These solutions are not only cost-friendly, but also efficient and secure. Data Storage Strategy: Pre- and Post-Cloud Computing covers data storage strategy on the cloud.

Image used under license from
Shutterstock.com

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Source: https://www.dataversity.net/implementing-a-cloud-data-strategy/

Big Data

How much Mathematics do you need to know for Machine Learning?

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Mathematics For Machine Learning | Maths to understand ML Algorithms





















Learn everything about Analytics



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Source: https://www.analyticsvidhya.com/blog/2021/07/how-much-mathematics-do-you-need-to-know-for-machine-learning/

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Big Data

If you did not already know

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ML Health google


Deployment of machine learning (ML) algorithms in production for extended periods of time has uncovered new challenges such as monitoring and management of real-time prediction quality of a model in the absence of labels. However, such tracking is imperative to prevent catastrophic business outcomes resulting from incorrect predictions. The scale of these deployments makes manual monitoring prohibitive, making automated techniques to track and raise alerts imperative. We present a framework, ML Health, for tracking potential drops in the predictive performance of ML models in the absence of labels. The framework employs diagnostic methods to generate alerts for further investigation. We develop one such method to monitor potential problems when production data patterns do not match training data distributions. We demonstrate that our method performs better than standard ‘distance metrics’, such as RMSE, KL-Divergence, and Wasserstein at detecting issues with mismatched data sets. Finally, we present a working system that incorporates the ML Health approach to monitor and manage ML deployments within a realistic full production ML lifecycle. …

Guided Zoom google


We propose Guided Zoom, an approach that utilizes spatial grounding to make more informed predictions. It does so by making sure the model has ‘the right reasons’ for a prediction, being defined as reasons that are coherent with those used to make similar correct decisions at training time. The reason/evidence upon which a deep neural network makes a prediction is defined to be the spatial grounding, in the pixel space, for a specific class conditional probability in the model output. Guided Zoom questions how reasonable the evidence used to make a prediction is. In state-of-the-art deep single-label classification models, the top-k (k = 2, 3, 4, …) accuracy is usually significantly higher than the top-1 accuracy. This is more evident in fine-grained datasets, where differences between classes are quite subtle. We show that Guided Zoom results in the refinement of a model’s classification accuracy on three finegrained classification datasets. We also explore the complementarity of different grounding techniques, by comparing their ensemble to an adversarial erasing approach that iteratively reveals the next most discriminative evidence. …

UniParse google


This paper describes the design and use of the graph-based parsing framework and toolkit UniParse, released as an open-source python software package. UniParse as a framework novelly streamlines research prototyping, development and evaluation of graph-based dependency parsing architectures. UniParse does this by enabling highly efficient, sufficiently independent, easily readable, and easily extensible implementations for all dependency parser components. We distribute the toolkit with ready-made configurations as re-implementations of all current state-of-the-art first-order graph-based parsers, including even more efficient Cython implementations of both encoders and decoders, as well as the required specialised loss functions. …

Sparse Constraint Preserving Matching (SPM) google


Many problems of interest in computer vision can be formulated as a problem of finding consistent correspondences between two feature sets. Feature correspondence (matching) problem with one-to-one mapping constraint is usually formulated as an Integral Quadratic Programming (IQP) problem with permutation (or orthogonal) constraint. Since it is NP-hard, relaxation models are required. One main challenge for optimizing IQP matching problem is how to incorporate the discrete one-to-one mapping (permutation) constraint in its quadratic objective optimization. In this paper, we present a new relaxation model, called Sparse Constraint Preserving Matching (SPM), for IQP matching problem. SPM is motivated by our observation that the discrete permutation constraint can be well encoded via a sparse constraint. Comparing with traditional relaxation models, SPM can incorporate the discrete one-to-one mapping constraint straightly via a sparse constraint and thus provides a tighter relaxation for original IQP matching problem. A simple yet effective update algorithm has been derived to solve the proposed SPM model. Experimental results on several feature matching tasks demonstrate the effectiveness and efficiency of SPM method. …

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Source: https://analytixon.com/2021/07/29/if-you-did-not-already-know-1461/

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Nokia lifts full-year forecast as turnaround takes root

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HELSINKI (Reuters) -Telecom equipment maker Nokia reported a stronger-than-expected second-quarter operating profit on Thursday and raised its full-year outlook as promised, thanks to a turnaround of its business.

The Finnish company’s April-June comparable operating profit rose to 682 million euros ($808.51 million) from 423 million euros a year earlier, beating the 408-million euro mean estimate in a Refinitiv poll of analysts.

Shifting geopolitics and a sharp round of cost cutting have put Nokia firmly back in the global 5G rollout race just a year after CEO Pekka Lundmark took the reins, allowing it to gain ground on Swedish arch-rival Ericsson.

“We have executed faster than planned on our strategy in the first half which provides us with a good foundation for the full year,” Lundmark said in a statement on Thursday, but added that Nokia still expects the 2021 second-half results to be less pronounced.

Nokia said it now expects full-year net sales of 21.7 billion-22.7 billion euros, up from its prior estimate of 20.6 billion-21.8 billion euros, with an operating profit margin of 10-12% instead of the 7% to 10% expected previously.

The company had announced on July 13 that it would raise its outlook, but did not provide any details.

($1 = 0.8435 euros)

(Reporting by Essi Lehto; editing by Terje Solsvik and Sriraj Kaluvila)

Image Credit: Reuters

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Source: https://datafloq.com/read/nokia-lifts-full-year-forecast-turnaround-takes-root/16713

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Robinhood, gateway to ‘meme’ stocks, raises $2.1 billion in IPO

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By Echo Wang and David French

(Reuters) -Robinhood Markets Inc, the owner of the trading app which emerged as the go-to destination for retail investors speculating on this year’s “meme’ stock trading frenzy, raised $2.1 billion in its initial public offering on Wednesday.

The company was seeking to capitalize on individual investors’ fascination with cryptocurrencies and stocks such as GameStop Corp, which have seen wild swings after becoming the subject of trading speculation on social media sites such as Reddit. Robinhood’s monthly active users surged from 11.7 million at the end of December to 21.3 million as of the end of June.

The IPO valued Robinhood at $31.8 billion, making it greater as a function of its revenue than many of its traditional rivals such as Charles Schwab Corp, but the offering priced at the bottom of the company’s indicated range.

Some investors stayed on the sidelines, citing concerns over the frothy valuation, the risk of regulators cracking down on Robinhood’s business, and even lingering anger with the company’s imposition of trading curbs when the meme stock trading frenzy flared up at the end of January.

Robinhood said it sold 55 million shares in the IPO at $38 apiece, the low end of its $38 to $42 price range. This makes it one of the most valuable U.S. companies to have gone public year-to-date, amid a red-hot market for new listings.

In an unusual move, Robinhood had said it would reserve between 20% and 35% of its shares for its users.

Robinhood’s platform allows users to make unlimited commission-free trades in stocks, exchange-traded funds, options and cryptocurrencies. Its simple interface made it popular with young investors trading from home during the COVID-19 pandemic.

Robinhood enraged some investors and U.S. lawmakers earlier this year when it restricted trading in some popular stocks following a 10-fold rise in deposit requirements at its clearinghouse. It has been at the center of many regulatory probes.

The company disclosed this week that it has received inquiries from U.S. regulators looking into whether its employees traded shares of GameStop and AMC Entertainment Holdings, Inc before the trading curbs were placed at the end of January.

In June, Robinhood agreed to pay nearly $70 million to settle an investigation by Wall Street’s own regulator, the Financial Industry Regulatory Authority, for “systemic” failures, including systems outages, providing “false or misleading” information, and weak options trading controls.

The brokerage has also been criticized for relying on “payment for order flow” for most of its revenue, under which it receives fees from market makers for routing trades to them and does not charge users for individual trades.

Critics argue the practice, which is used by many other brokers, creates a conflict of interest, on the grounds that it incentivizes brokers to send orders to whoever pays the higher fees. Robinhood contends that it routes trades based on what is cheapest for its users, and that charging a commission would be more expensive. The U.S. Securities and Exchange Commission is examining the practice.

Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt. They will hold a majority of the voting power after the offering, these filings showed, with Bhatt having around 39% of the voting power of outstanding stock while Tenev will hold about 26.2%.

The company’s shares are scheduled to start trading on Nasdaq on Thursday under the ticker “HOOD”

Goldman Sachs and J.P. Morgan were the lead underwriters in Robinhood’s IPO.

(Reporting by Echo Wang and David French in New York; Editing by Leslie Adler)

Image Credit: Reuters

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Source: https://datafloq.com/read/robinhood-gateway-meme-stocks-raises-21-billion-ipo/16712

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