Contemporary and Beneficial Uses of Big Data

Historically data has been generated manually by people; for example, an interviewer filling a questionnaire with the respondent or an employee entering data into computer system. When the internet started to evolve, the data generation shifted to the users resulting in a sudden increase of the amount of data being produced on a daily basis. An example of data generated by users is the use of mobile and social media.  Now devices are generating data everywhere around us, from sensors that monitor traffic to beacons that track visitations in retail stores, to satellites, cameras, and wearable devices. This massive and rapid growth in Big Data alongside the advancement in technology has a fundamental value of today’s digital knowledge. The power and decision making is shifting from individuals to smart algorithms residing in large data centers and on the cloud.Continue reading “Contemporary and Beneficial Uses of Big Data”

Risk Management and Cybersecurity

Organizations are challenged to find a proper balance between alleviating risk and allocating an adequate investment on risk management. It is always better if managers and IT professionals identify threats before they occur and try to entirely avoid them. Nevertheless, in case of occurrence, managers have to be proactive in controlling risks before they become serious problems.

Establishing measures in minimizing the impact of threats if they occur helps in preventing their reoccurrence. But trying to avoid or manage all threats at the same time is a costly and difficult task. Therefore, the risk management teams need to address risks that lead to high exposure or in other words high expected the business loss. According to Stoneburner et al. (2002), “the analysis of the threat to an IT system must include an analysis of the vulnerabilities associated with system environment.” Continue reading “Risk Management and Cybersecurity”

Data and Data Visualization

Concepts of data visualization:

Data visualization brings data from computers to life. It provides a graphical representation by bringing shapes and colors to display quantified information, hence aiding humans in perceiving and understanding data to make informed business decisions. With data visualization, people can delve into a wealth of information, discover patterns and keep track of their business KPI’s; they can spot opportunities, detect abnormalities and generate insights.

Data can be viewed in various graphical displays depending on its type, for example, bars, pies, scatter, multidimensional axes, pictorial layouts, etc. Loads of beautiful chart and display examples are available to users especially those in data visualization tools like Tableau, or in open source libraries like Google Charts or D3 by JavaScript.

However, only focusing on the decoration of data without capturing the essence of its details and what it is conveying could become misleading. Edward Tufte, who is a pioneer in the field of data visualization, gave guidelines for good data display. His guidelines are summarized by: induce the viewer to think of the data; avoid distorting of what the data has to say; make large data sets cohesive; reveal data at several levels of details; be closely integrated with the statistical and verbal description of the data (Tufte, 2001).

Continue reading “Data and Data Visualization”

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