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Six Elements Foiling Your Big Data Plans

Big data holds amazing promise, as indicated by the way its being used to study medicine. However, the vast majority of data is not analyzed. What holds back full use of your data? The Promise of Big Data: Example of Medicine Big Data Going Underutilized Archnemeses of Big Data Conclusion The Promise of Big Data: Example of Medicine Everyone in their first or second year at NYU School of Medicine must complete an assignment that taps into huge amounts of information. Students are able to study a massive database that contains hospital records throughout New York for two full years, totalling over 5 million records. Students can see diagnostics and basic demographics, with specific identities scrubbed for privacy. The students are given analytic programs so that they can search for patterns and develop insights, notes the school’s associate dean, Marc Triola. These tools allow them to “look at quality measures for things like heart failure, diabetes, smoking and high blood pressure,” he says. “and drill down and look at the performance of the practice as a whole, and [the performance of] individual doctors.” The school believes this project is fundamental in preparing students for an increasingly technological world.  Big Data […]

Why Cloud Computing is a Smart Choice for Finance (Part 2 of 2)

Finance, both as an industry and as a department within businesses, has been slow to move to the cloud. This piece continues our discussion (see Part 1) of what’s holding financial pros back and why it’s worth it to make the transition. 15 Reasons Cloud Makes Sense for Finance Departments (cont.) Lower Your Risk with a Slower Transition 15 Reasons Cloud Makes Sense for Finance Departments (cont.) Wise Development International readiness – If you plan to find customers and otherwise operate in other countries, finances will become more sophisticated, as will compliance. That means you have to keep updating your current system. Cloud systems are updated on-the-go, by the cloud provider. Smoother M & A – Computing is the most expensive part of merging with or acquiring another company. On the other hand, it can create points of integration as well. “The heavy reliance on ERP for business operations, management information, and financial reporting make it a priority item in the M&A agenda,” explains Forbes. Testing a different market – When you go into a different market, you find a different type of customer. Cloud allows you to easily customize the back-end support to meet diverse needs. Hypergrowth – When […]

Why Cloud Computing is a Smart Choice for Finance (Part 1 of 2)

Finance has been much slower than other sectors and other business departments to move to the cloud. Let’s explore this topic in a two-part series to better understand the hesitation and why it makes sense to overcome it. Finance Industry’s Security Concerns Finance Departments Used to be the Tech Trendsetter 15 Reasons Cloud Makes Sense for Finance Departments Both the finance industry and finance departments at companies have been slower than their counterparts to adopt cloud computing. Let’s look at what’s holding things back and why it’s worth tackling the challenges and moving forward – specifically, a.) security concerns of financial firms, and b.) reasons finance departments benefit from cloud. Finance Industry’s Security Concerns Finance has been slow to switch over to cloud computing because of concerns with security and compliance. However, more finance companies are adopting cloud every day, replacing their legacy approach with the easy adaptability, high performance, and multigenerationally approved interfaces of cloud. What’s basically holding financial firms back is that they want to make certain that user data and business processes can be safe within another organization’s datacenters. Finance companies have expansive and intricate computing systems that depend on core on-premises software, and it’s absolutely critical […]

Will Traditional Banks Be Able to Win at Cloud?

Now that the banking cloud is quickly developing, traditional banks are realizing they have to improve their digital stance if they don’t want to see a mass exodus of their customers. Better Security Perception & a Changing Market Digital the Way to Bank Quickly Essential to Continuing Retail Success Diving into Digital Immediacy without Sacrificing Service Cloud as a General Path Forward Conclusion Better Security Perception & a Changing Market Now that cloud-centered, digital bank startups are on the rise, traditional firms are assessing the extent to which they might want to invest in newer technologies. Public cloud was previously feared as a general security concern, but that perception has largely changed: security was listed as the top challenge with cloud in last year’s State of the Cloud survey, but in 2016 the top issue is talent and resources. Banks are becoming more open to cloud in terms of security but also from a business standpoint, recognizing that they are losing market share to emerging businesses such as Starling, Mondo, and Atom. Traditional banks have had to move elements of their businesses beyond their own datacenters in order to effectively respond to the changing financial landscape. Digital the Way to Bank […]

Cloud Computing as a Cultural Evolution in Government

Many governments still haven’t switched over to cloud computing. Let’s look at why cloud is advantageous and factors that have made “cloud-first” policies challenging to realize. Objective: Less Governmental Waste Benefits and Concerns of Cloud Computing for Government Offices What’s the Holdup? Making the Switch Objective: Less Governmental Waste In the 2016 US presidential race, we see a lot of discussion of education, healthcare, and the economy, but not much on the topic of real structural changes to streamline the federal system. The best way for government to become more efficient is to look at the technology that has disrupted and ultimately strengthened businesses throughout the marketplace. The pressure on government agencies to provide better services within strict budgets has always prompted governments to consider ways to work together. The ability of organizations to foster collaboration got a major boost with the rise of the cloud, mobile devices, and social apps. These tools allow federal agencies to develop ideas and programs internally – branching out to affiliates, vendors, and the general public as desired. Now, these technologies have been helpful to government departments, but the transition has also been tricky, notes Morten Brøgger in Government Technology. It’s been difficult to […]

Two Surveys: Cloud is Growing, Strategies Adapting

Cloud is growing at an incredible pace, just as it did in 2015. As cloud comes into its own, IT managers are learning how to better strategize to make the most of these virtual systems. Cloud Becoming Increasingly Popular with Business Rise of Hybrid Cloud, DevOps, Containers Cloud Becoming Increasingly Popular with Business A study conducted by the research firm Clutch shows that two out of three medium and large companies will spend more on cloud systems this year than they did in 2015. For the poll, which interviewed 300 information technology executives, more than two in five (42%) expected their cloud budget to rise moderately: 11-30%. Smaller proportions expected mild and extreme increases in their use of cloud: 27% said it would remain the same, while 14% expected a 31% to 50% greater expense. Meanwhile, only 6% said they would be using less cloud than they did last year. Since cloud is growing so incredibly, it could be a chance for service providers to fill the emerging business demand. Specific services that enterprises most need include app deployment (51%); disaster recovery and backup (62%); and storage (70%). Plus, all companies require strong hosting as they realize they want the […]