Data Solutions

Data Management, AI, Java Developer, Java. Developer in the Philippines

How to Maximize AI potential through Data Maturity for Innovation and Growth this 2024

How to Maximize AI potential through Data Maturity for Innovation and Growth this 2024 1200 630 Exist Software Labs

In today’s data-driven world, organizations are increasingly turning to artificial intelligence (AI) to unlock valuable insights and drive innovation. However, the success of AI initiatives heavily depends on the quality and maturity of the underlying data. In this blog post, we’ll explore how data maturity plays a crucial role in preparing your data for AI applications.

Understanding Data Maturity

Data maturity refers to the level of readiness of an organization’s data management processes. It encompasses various aspects such as data quality, accessibility, governance, and integration. A high level of data maturity indicates that an organization has well-defined processes in place to manage its data effectively. The value of data maturity for AI lies in its ability to enhance model accuracy, reliability, and performance, leading to better insights, decision-making, and ultimately, business outcomes. Essentially, the better the quality and maturity of the data, the more effective and impactful the AI applications can be.

Your organizations data maturity

The Importance of Data Maturity for AI

  1. Data Quality: High-quality data is a pre-requisite for AI. It ensures that your data is accurate, consistent, and reliable, which is essential for training AI models and making accurate predictions. The better quality of the data, the more effectively you can leverage your AI for improved decision-making and gain valuable insights.
  2. Data Accessibility: AI algorithms require access to a wide range of data sources. A mature data environment ensures that data is accessible across the organization, enabling AI applications to leverage diverse datasets for analysis.
  3. Data Governance: Data governance frameworks ensure that data is managed in a transparent, compliant, and ethical manner. This is critical for AI applications, as they often deal with sensitive data and require strict controls to protect privacy and ensure regulatory compliance.
  4. Data Integration: AI models perform best when they have access to comprehensive and integrated datasets. Data maturity enables organizations to break down data silos and integrate disparate data sources, providing a more holistic view of their data landscape.

Start Your Data Maturity Assesment Here:

Steps to Achieve Data Maturity for AI Readiness

  1. Assess Current Data Practices: Conduct a thorough assessment of your organization’s current data management practices, identifying areas for improvement and opportunities for optimization.
  2. Implement Data Quality Controls: Invest in tools and processes to monitor and improve data quality, including data cleansing, deduplication, and validation techniques.
  3. Establish Data Governance Policies: Develop robust data governance policies and procedures to ensure data integrity, security, and compliance with relevant regulations.
  4. Invest in Data Integration: Implement data integration solutions to consolidate and harmonize data from different sources, enabling seamless access and analysis for AI applications.
Data Maturity, Data, Data Analytics, AI

Brad Edwards explained in his article the importance of Data Maturity to build solid ground for AI. According to his article, a company’s data maturity level is assessed based on its proficiency in utilizing data for analytics, machine learning, and decision-making. Companies with a higher data maturity tend to possess advanced AI capabilities and services, which play a crucial role in the effectiveness and achievements of their machine learning endeavors. With their high data maturity, A company can deploy AI models to predict consumer behavior, optimize inventory management, and personalize marketing campaigns. For instance, their AI-driven recommendation system analyzes historical purchase data, online browsing behavior, and customer feedback to suggest products tailored to individual preferences, leading to increased sales and customer satisfaction. You can read more about it here.

Data Management, AI, Java Developer, Java. Developer in the Philippines

Before AI, Data Maturituy (Successful AI Projects are Built on Solid Ground)

Conclusion

In the age of AI, data maturity is a prerequisite for success. By investing in data quality, accessibility, governance, and integration, organizations can ensure that their data is AI-ready and capable of unlocking valuable insights to drive business growth and innovation. Start your journey towards AI readiness today by prioritizing data maturity within your organization.

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      Sun Life Event: Spark Innovation Series- Cloud and Data Federation, Cloud & Data Federation, Data Solutions Philippines, Exist Data Solutions

      Exist Software Labs discusses Cloud and Data Federation at Sun Life Global Solutions’ Spark Innovation Series

      Exist Software Labs discusses Cloud and Data Federation at Sun Life Global Solutions’ Spark Innovation Series 650 486 Exist Software Labs

      Cloud adoption has become increasingly essential for businesses looking to enhance their operations, improve scalability, and drive innovation. It allows organizations to leverage the power of cloud computing services to store, process, and analyze large volumes of data with ease.

      On Aug 29, 2023, technology experts and IT professionals converged at the Sun Life Centre, in Bonifacio Global City, Philippines. Exist Software Labs graced Sun Life Global Solutions’ Spark Innovation Series, which discussed, for that session, Cloud & Data Federation. The Exist Team shared their insights and experiences as a technology company, focusing on the importance of Cloud and Data Federation in an organization’s Data Maturity Journey.

      Cloud Adoption 3.0

      In today’s digital age, the adoption of cloud technology has become increasingly important for businesses. Cloud Adoption 3.0, the next phase of cloud adoption, is an innovation where organizations are not only leveraging the power of the cloud, but also embracing data federation.

      Sun Life Event: Spark Innovation Series- Cloud & Data Federation, Data Solutions Philippines, Java Developer Philippines, Cloud and Data Federation

      Exist Director of Tech Services Dennis De Vera focused his presentation on the implications, benefits, and uses of Cloud Adoption; including increased flexibility, scalability, and cost-effectiveness. Cloud adoption allows companies to store and access data from anywhere in the world, enabling remote work and collaboration.

      With the growing amount of data being generated by organizations, managing and analyzing this data becomes a challenge. According to De Vera, “This is where data federation comes into play. Data federation involves integrating and combining data from multiple sources or clouds into a unified view.”

      Cloud and Data Federation Strategies

      By adopting cloud & data federation strategies, businesses can unlock even more value from their cloud investments. They can gain deeper insights from their data by analyzing it holistically rather than in silos. This enables better decision-making, improved customer experiences, and enhanced operational efficiency.

      Furthermore, cloud & data federation also provide organizations with greater control over their data governance and compliance requirements. With centralized control over access permissions and security measures across multiple clouds or sources of data, businesses can ensure regulatory compliance while maintaining high levels of security.

      Implement Cloud Adoption and Data Federation to leverage on your cloud investments now

      What part does security play?

      Whilst cloud & data federation integrate resources across multiple platforms and servers, it also introduces potential vulnerabilities that must be addressed to maintain a secure environment. Protecting secure assets, such as sensitive customer information or proprietary business data, requires strong access controls, encryption mechanisms, and authentication protocols. 

      Regular audits are crucial for maintaining security within a federated environment and identifying potential weaknesses or compliance gaps. By examining security controls across different platforms and servers, organizations can proactively address vulnerabilities before they are exploited by malicious actors.

      Security plays an integral part in the Cloud & Data Federation. By implementing robust encryption measures, conducting regular audits, and enforcing strict access controls, organizations can protect their valuable assets while leveraging the benefits of federated environments effectively.

      Know more about what cloud adoption and data federation can do, specific to your organization

      Don’t know where to start with cloud adoption? Exist is a multi-awarded technology innovator that provides free technical consultation to help you jumpstart your cloud adoption, cloud federation, and data maturity journey. Discuss with our experts to maximize the benefits of digital transformation today.

      Banks that embrace predictive analytics and data-driven decision-making are forging a path towards becoming the "extraordinary" banks of the future.

      Predictive Analytics & Data-Driven Decision: Building up the “Extraordinary” Banks of the Future

      Predictive Analytics & Data-Driven Decision: Building up the “Extraordinary” Banks of the Future 1300 972 Exist Software Labs

      In the fast-evolving landscape of digital banking, staying ahead of the competition and delivering exceptional customer experiences require more than just technology. Banks that embrace predictive analytics and data-driven decision-making are forging a path towards becoming the “extraordinary” banks of the future. As a technology company providing digital banking solutions, Exist Software Labs, Inc. is committed to empowering banks with the tools they need to harness the potential of data and achieve scalable success.

      What is Predictive Analytics, and why does it matter?

      Predictive analytics leverages historical data, machine learning algorithms, and statistical modeling to forecast future outcomes. For banks, this means harnessing vast amounts of customer data, transaction history, activity patterns, and market trends to make well-informed decisions. By adopting predictive analytics, banks can anticipate customer needs, identify potential risks, and personalize services, paving the way for smarter and more proactive banking experiences.

      The Role of Data Warehousing in Predictive Analytics in Banking

      Data warehousing acts as the backbone of predictive analytics initiatives. It involves the centralization and integration of data from various sources, enabling banks to access a holistic view of their operations and customer interactions. With a well-structured data warehouse in place, banks can efficiently extract, transform, and analyze data, fueling the predictive modeling process for informed decision-making.

      Create more impact through data-driven decisions

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      Embracing the Cloud for Scalability and Flexibility

      Cloud technology offers the scalability and flexibility necessary to support the vast amount of data required for predictive analytics. Banks can store and process data real-time, ensuring faster and more accurate predictions. Cloud-based solutions also enable seamless integration with existing banking systems, making it easier for banks to adapt to evolving customer needs and market trends.

      From Data Analytics to Data-Driven Decision-Making

      While data analytics provides valuable insights, the true value lies in translating these insights into actionable decisions. Banks must foster a data-driven culture, where decisions are based on evidence and data-backed reasoning

      How can banks transition from data analytics to data-driven decision-making?

      Banks can transition from data analytics to data-driven decision-making by fostering a data-driven culture within their organization. This involves investing in data literacy, promoting a mindset of evidence-based decision-making, and integrating data-driven insights into their strategic planning processes. By embracing data-driven decision-making, banks can unlock the full potential of their data, make informed choices, and achieve greater efficiency and competitiveness in the digital banking landscape.

      Conclusion

      Predictive analytics and data-driven decision-making are redefining the future of banking. By leveraging the power of data, banks can unlock unprecedented potential — delivering personalized experiences, minimizing risks, and gaining a competitive edge in the market. As a leading digital banking solutions provider, Exist Software Labs, Inc. is committed to empowering banks to participate in the data revolution and helping pave  the way for them to become “extraordinary” banks of the future.

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      Philippines' Growth Champions 2023 Exist Software Labs Inc. Ensures Biz Success Thru Tailor fit Solutions, Java Developer Philippines

      Philippines’ Growth Champions 2023 Exist Software Labs Inc. Ensures Biz Success Thru Tailor fit Solutions

      Philippines’ Growth Champions 2023 Exist Software Labs Inc. Ensures Biz Success Thru Tailor fit Solutions 650 486 Exist Software Labs

      “People are the core of every business. Businesses are based on relationships, and relationships are based on people.”

      This quote from businessman Marcus Lemonis was taken to heart by the men behind Exist Software Labs Inc. (Exist). Since 2001, Exist has been providing top global enterprises with cutting-edge technologies through consulting and software development. They have become a formidable development expert providing breakthrough solutions to verticals and domains in banking and finance, healthcare, retail, and energy industries.

      Exist has also developed two home-grown software products including Anahaw, which brings retail businesses to the forefront of the game, and Healthcare solutions for hospitals and clinics.

      MERX is a system to manage hospital information for more efficient operations. Medcurial has enterprise-grade clinic management and electronic medical records systems that ensure smooth transactions and boost the performance of telemedicine services.

      Staying abreast of clients’ individual needs and creating IT solutions tailor-fit to their specific needs, Exist has helped top enterprises reach new peaks.

      Its services include enterprise software development, mobile app development and management, offshore outsourcing, technology consulting, data solutions, QA and testing, and cloud development, deployment, and management services.

      Philippines’ Growth Champions 2023:Exist Software Labs Inc. ensures biz success thru tailor-fit solutions, Java, Java Philippines

      Exist Software Labs. Inc.: Service throughout the Pandemic

      In 2020, just like any other business, Exist was taken off guard by the sudden disruption in business activities. Its core – its people and strong partnership with its clients – kept it going. Exist’s culture of continuous collaboration with its people and a solid commitment to its client partners showed the company’s resiliency during economic uncertainties, especially during the pandemic. The “Agile Culture” of Exist Software Labs Inc. led them to achieve their annual revenue goal and more.

      “The success of Exist in the past years is because of your hard work and dedication,” Michael Lim, President, and CEO, told employees during a town hall meeting at Exist.

      Three years later, Exist has increased its revenue year after year and expanded both its clientele and manpower. In this year’s Philippines Growth Champions 2023 of Inquirer and international research company, Statista, where the Top 25 companies with the highest revenue growth are recognized, Exist ranked 20th overall and, for its category, IT and Software, Top 5.

      With over two decades of experience, Exist continues to help various companies reach milestones, even in large-scale projects, using modern application design and development, as well as providing world-class support. Clients can prove that the innovations they achieved collaborating with Exist have transformed them for the better and allowed them to build a sustainable advantage in their industries.

      “The team at Exist has brought us several technology innovations over the last few years and we look forward to continuing to push the digital envelope with them,” said John Howard Medina, COO of PBCOM.

      Exist Software Labs Inc. may have ascended to its current status as a reliable partner, but it plans to help even more businesses. It is ready to serve companies that need a complete revamp of their client IT infrastructure, API services orchestration, and software design; as well as those enterprise users who would like a software application that adheres to their current flow.

      A leader in designing for systems integrations, Exist allows software applications from different departments to communicate with each other for better, more informed, and timelier decisions.

      Exist’s solutions perfectly fit institutions with unique processes or those that want a competitive advantage; especially those who now find that, rightfully, building software is more flexible, designed to be more scalable through integrations, more secure, and more resilient than buying off the shelf (OTS).

      Exist Software Labs. Inc. continues to live by its promise that there’s always a better way by empowering its business partners with innovative solutions and services that give them a competitive advantage by ensuring their individual needs are recognized and addressed with top-notch solutions.

      Data Ingestion, Data Integration, Data Quality,Driven Organization

      The Importance of Data Ingestion, Data Integration, and Data Quality in becoming a Data-Driven Organization.

      The Importance of Data Ingestion, Data Integration, and Data Quality in becoming a Data-Driven Organization. 650 486 Exist Software Labs

      Data ingestion, integration, and quality are crucial steps in becoming a data-driven organization:

      Ingesting, storing, organizing, and maintaining the data generated and gathered by an organization is known as data management. A key component of implementing IT systems that power business applications use to deliver analytical data to support operational decision-making and strategic planning by corporate executives, business managers, and other end users is effective data management.

      Data management is a collection of many tasks that aims to guarantee correct, accessible, and available data in business systems. The majority of the work is done by the IT and data management teams, but business users also contribute.

      Want to learn more about Data Solutions and Services? Click here.

      These are the key steps in transforming a company into a data-driven organization.

      What is Data Ingestion, Data Integration, and Data Quality?

      1. Data Ingestion: It is the process of acquiring data from various sources and bringing it into a centralized data repository for analysis and reporting. Without effective data ingestion, data silos can form, making it difficult to access and integrate data across the organization.

       

      It involves acquiring data from different sources, such as databases, cloud storage, or even manual input, and ensuring that the data is transformed and formatted in a way that can be easily integrated and analyzed.

       

      1. Data Integration: This process merges data from different sources into a unified view, making it easier to analyze and make informed decisions. Lack of data integration can lead to inconsistencies, duplications, and errors in data analysis.

       

      This step requires removing duplicates, resolving conflicts, and transforming data into a consistent format so that the data can be used effectively for analysis and decision-making.

      1. Data Quality (Cleansing): Cleaning data ensures that it is accurate, consistent, and free of errors. Poor data quality can negatively impact decision-making and hinder the effectiveness of data analysis.

       

      The data quality process involves validating the data, correcting errors, and removing inconsistencies, to ensure that the data is trustworthy and fit for its intended use. These three steps are crucial for organizations to effectively leverage their data to make informed decisions, drive business growth, and achieve their goals.

      By focusing on data ingestion, integration, and quality, organizations can ensure that they have a solid foundation for their data analysis and decision-making processes. It enables organizations to gain valuable insights, make informed decisions, and ultimately drive business growth and success.

      Next is How to Operationalize the Data in a data-driven organization:

       

      • Establish a clear data strategy: The first step is to create a clear data strategy that aligns with the overall business strategy. This strategy should define the business problems that data can help solve, the data sources to be used, the tools and technology required, and the KPIs that will be used to measure success.

       

      • Identify data requirements: Determine what data is required to support the business strategy and goals. This involves identifying the types of data needed, the sources of data, and the frequency of data collection and updates.

       

      • Collect and process data: Collect the relevant data and process it in a way that makes it usable for analysis. This may involve data cleaning, normalization, and transformation.

       

      • Analyze data: Use analytics tools and techniques to analyze the data and derive insights that can inform business decisions. This may involve descriptive analytics, predictive analytics, and prescriptive analytics.

       

      • Communicate insights: Communicate the insights to stakeholders in a way that is clear and actionable. This may involve creating dashboards, reports, or visualizations that highlight the key findings and recommendations.

       

      • Integrate insights into operations: Use the insights to inform business operations and decision-making processes. This may involve integrating insights into existing workflows, processes, and systems.

       

      • Monitor and evaluate: Monitor the impact of the data-driven initiatives and evaluate the success against the KPIs identified in the data strategy. Make adjustments as needed to improve performance.

      Overall, operationalizing data in a data-driven organization requires a culture that values data-driven decision-making, a commitment to continuous improvement, and the right technology and tools to support data collection, analysis, and communication.

       

      Big Data, Data Solutions, Healthcare, Retail

      Trends and Industries: How Data Solutions upend existing sectors to new heights in 2023?

      Trends and Industries: How Data Solutions upend existing sectors to new heights in 2023? 650 486 Exist Software Labs

      The defining era of data is currently upon us. Business model threats and economic shocks are common. Power is changing wherever you look, including in the market, our technological infrastructure, and the interactions between companies and customers. Change and disruption have become the norm. Data Solutions have been useful in innovating the industry.

      Data-savvy businesses are well-positioned to triumph in a winner-take-all market. In the past two years, the distance between analytics leaders and laggards has increased. Higher revenues and profitability can be found in companies that have undergone digital transformation, embraced innovation and agility, and developed a data-fluent culture. Those who were late to the game and who still adhere to antiquated tech stacks are struggling, if they are even still in operation.

      So, when you create your data and analytics goals for 2023, these are the key trends to help you stay one step ahead of your competitors.

      Healthcare

      Data Analytics and Data Solutions can be used to improve patient outcomes, streamline clinical trial processes, and reduce healthcare costs. 

      Some specific examples of how Analytics is being used in healthcare include:

      1. Improving patient outcomes: Analytics can be used to identify patterns and trends in patient data that can help healthcare providers make more informed decisions about treatment plans. For example, data from electronic health records (EHRs) can be analyzed to identify risk factors for certain conditions, such as heart disease or diabetes, and to determine the most effective treatments for those conditions.
      2. Streamlining clinical trial processes: Data Analytics can be used to improve the efficiency of clinical trials by allowing researchers to identify suitable candidates more quickly and by helping them to track the progress of trials more closely.
      3. Reducing healthcare costs: Analytics can be used to identify inefficiencies in healthcare systems and to help providers implement cost-saving measures. For example, data analysis can be used to identify patterns of overutilization or unnecessary testing, and to develop strategies for reducing these costs.

      Financial services

      Data Analytics can be used to detect fraud, assess risk, and personalized financial products and services. 

      Some specific examples of how Data Analytics is being used in the financial industry include:

      1. Fraud Detection: Data Analytics can be used to identify patterns and anomalies in financial transactions that may indicate fraudulent activity. This can help financial institutions to prevent losses due to fraud and to protect their customers.
      2. Risk Assessment: Analytics can be used to assess the risk associated with various financial products and services. For example, data analysis can be used to assess the creditworthiness of borrowers or to identify potential risks in investment portfolios.
      3. Personalizing financial products and services: Analytics can be used to gain a deeper understanding of individual customers and to personalize financial products and services accordingly. For example, data analysis can be used to identify the financial needs and preferences of individual customers, and to offer customized financial products and services that are tailored to those needs.

      Retail

      Retail companies can use Data Analytics to optimize pricing, understand customer behavior, and personalize marketing efforts. 

      Some specific examples of how Data Analytics is being used in the retail industry include:

      1. Prizing Optimization: Retail companies can use Data Analytics to identify patterns in customer behavior and to optimize their pricing strategies accordingly. For example, data analysis can determine the most effective price points for different products and identify opportunities for dynamic pricing (i.e., adjusting prices in real time based on demand).
      2. Understanding customer behavior: Analytics can be used to gain a deeper understanding of customer behavior and preferences. This can help retailers to make more informed decisions about the products and services they offer, and to identify opportunities for cross-selling and upselling.
      3. Personalizing marketing efforts: Analytics can be used to deliver more personalized and targeted marketing efforts to customers. For example, data analysis can be used to identify customer segments with similar characteristics and to develop customized marketing campaigns for each segment.
      4. Cost Reduction: Being able to have a JIT (Just in Time) procurement and storage of items which in turn increases/optimizes warehouse capacity and reduces spoilage, and improves logistics.

      Manufacturing

      Data Analytics can be used to optimize supply chain management, improve production efficiency, and reduce costs. 

      Some specific examples of how Data Analytics is being used in the manufacturing industry include:

      1. Optimizing supply chain management: Analytics can be used to improve the efficiency of the supply chain by identifying bottlenecks and inefficiencies, and by developing strategies to address these issues.
      2. Reducing fuel consumption: Analytics can be used to identify patterns in fuel consumption and to identify opportunities for fuel savings. For example, data analysis can be used to identify the most fuel-efficient routes or to identify vehicles that are consuming more fuel than expected.
      3. Improving fleet management: Analytics can be used to improve the efficiency of fleet management by identifying patterns in vehicle maintenance and repair data, and by helping fleet managers to develop strategies to optimize vehicle utilization and reduce downtime.
      4. Forecast roadworthiness of vehicles: This can help set trends on when a vehicle would break down or need repairs based on utilization, road conditions, climate, and driving patterns.

      Energy

      Data Analytics can be used to optimize the production and distribution of energy, as well as to improve the efficiency of energy-consuming devices.

      Some specific examples of how Analytics is being used in the energy industry include:

      1. Optimizing the production and distribution of energy: Analytics can be used to optimize the production and distribution of energy by identifying patterns in energy demand and by developing strategies to match supply with demand. For example, data analysis can be used to predict when energy demand is likely to be highest and to adjust energy production accordingly.
      2. Improving the efficiency of energy-consuming devices: Analytics can be used to identify patterns in energy consumption and to identify opportunities for energy savings. For example, data analysis can be used to identify devices that are consuming more energy than expected and to develop strategies to optimize their energy use.
      3. Monitoring and optimizing energy systems: Analytics can be used to monitor and optimize the performance of energy systems, such as power plants and transmission grids. Data analysis can be used to identify potential problems or inefficiencies and to develop strategies to address them.

      Agriculture

      Analytics can be used to optimize crop yields, improve the efficiency of agricultural processes, and reduce waste.

      Some specific examples of how Data Analytics is being used in agriculture include:

      1. Optimizing crop yields: Analytics can be used to identify patterns in crop growth and to develop strategies to optimize crop yields. For example, data analysis can be used to identify the most suitable locations for growing different crops and to develop customized fertilization and irrigation plans.
      2. Improving the efficiency of agricultural processes: Data Analytics can be used to identify patterns in agricultural data and to develop strategies to optimize processes such as planting, fertilizing, and harvesting.
      3. Waste Reduction: Analytics can be used to identify patterns in food waste and to develop strategies to reduce waste. For example, data analysis can be used to identify the most common causes of food waste on farms and to develop strategies to address those issues.

      These are just a few examples of the many industries that are likely to adopt Data Analytics technologies as part of their digital transformation efforts in the coming years. 

      Other industries that are also likely to adopt Analytics Technologies include Government, Education, and Media, among others. In general, Data Analytics Technologies are being adopted across a wide range of industries because they can help organizations to gain insights from their data, make more informed decisions, and improve their operations. 

      As more and more organizations recognize the value of Analytics, it’s likely that we’ll see even greater adoption of these technologies in the coming years.

      To learn more about our Data Solutions Services, click here.

      Data Science, Science and Technology

      Data Science 101: What are concepts you need to know before entering the Data Science world?

      Data Science 101: What are concepts you need to know before entering the Data Science world? 650 486 Exist Software Labs

      I was playing around with data and then I found the Science — Yes, my introduction to the world of Data Science has been a part of my research work.

      If you’re like me, starting out with Data Science looking for resources that can give you a jump start or at least a better understanding of it or you have just heard/read the term being coined and want to know what it is, of course, you can find a gazillion materials about it, this is, however, how I started and got familiar with the basic concepts.

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      What is ‘Data Science’?

      Data Science provides meaningful information based on larger amounts of complex data or big data. Data-Driven Science combines different fields of work in statistics and computation to interpret data for decision-making purposes.

      Understanding Data Science

      How do we collect data? — Data is drawn from different sectors, channels, and various platforms including cell phones, social media, e-commerce sites, various healthcare surveys, internet searches, and many more. The surge in the amount of data available and collected over a period of time has opened the doors to a new field of study based on big data — the huge and massive data sets that contribute towards the creation of better operational tools in all sectors.

      The continuous and never-ending access to data has been made possible due to advancements in technology and various collection techniques. Numerous data patterns and behavior can be monitored and it can make predictions based on the information gathered.

      In technical terms, the above-stated process is defined as Machine Learning; in layman’s terms, it may be termed Data Astrology — predictions based on data.

      Nevertheless, the ever-increasing data is unstructured in nature and is in constant need of parsing in order to make effective decisions. This process is really complex and very time-consuming for organizations — and hence, the emergence of Data Science.

      A Brief History / Background of Data Science

      The term ‘Data Science’ has been in existence for about three decades now and was originally used as a substitute for ‘Computer Science’ in the 1960s. Approximately 15–20 years later, the term was used to define the survey of data processing methods used in different applications. 2001 was the year when Data Science was introduced to the world as an independent discipline.

      Disciplinary Areas of Data Science

      It incorporates tools from multiple disciplines to gather a data set, process and derive insights from the data set and interpret it appropriately for decision-making purposes.

      Some of the disciplinary or noteworthy areas that make up the Data Science field include Data Mining, Statistics, Machine Learning, Analytics Programming, and the list goes on. But, we would be doing a brief discussion mainly on the aforesaid topics as the concept of Data Science mainly revolves around these basic concepts, just to keep it simple.

      Data Mining applies algorithms to complex data sets to reveal patterns that are then used to extract useful and relevant data from the set.

      Statistics or Predictive Analysis uses this extracted data to gauge events that are likely to happen in the future based on what the data shows happened in the past.

      Machine Learning can be best described as an Artificial Intelligence tool that processes massive quantities of data that a human is incapable of doing in a lifetime — it perfects the decision model presented under predictive analytics by matching the likelihood of an event happening to what actually happened at a predicted time in the past.

      The process of Analytics involves the collection and processing of structured data from the Machine Learning stage using various algorithms. The data analyst interprets, converts, and summarizes the data into a cohesive language that the decision-making team can understand.

      Data Scientist

      Literally speaking, the job of a Data Scientist is multi-tasking: We collect, analyze and interpret massive amounts of structured and unstructured data, and in a maximum number of cases, to improve an organization’s operations. Data Science professionals develop statistical models that analyze data and detect patterns, trends, and various relationships in data sets.

      This vital information can be used to predict consumer behavior or to identify business and operational risks. Hence, the job of a Data Scientist can be described as a story-teller that uses data insights in telling a story to the decision-makers in a way that is understandable. The role of a Data Scientist is becoming increasingly important as businesses rely more heavily on data analytics to drive decision-making and lean on automation and machine learning as core components of their IT strategies.

      Present & Future of Data Science

      Data Science has become the real thing now and there are potentially hundreds and thousands of people running around with that job title. And, we too have started seeing these Data Scientists making large contributions to their organizations. There are certainly challenges to overcome, but the value of data science from a business point of view is pretty clear at this point.

      Now, thinking about the future, certain questions definitely arise — “How will the practice of data science be changing over the next five years? What will be the new research areas of data science?”

      “Will the fundamental skills remain the same?”

      These are certainly debatable questions, but one thing is for sure — inventions have happened and will continue to happen when there arises any demand for the betterment of the future. And, the world would keep benefiting from data science through its upcoming innovations.

      The possibilities of how to utilize Data Science in real-world scenarios are endless! Our Data Solutions team would be happy to help you capitalize on this technology for your enterprise.

      Exist Software Labs Inc, Informatica Data Governance Pocket Session

      Exist Software Labs Inc and Informatica Pocket Session 2022: Realizing Data Governance Benefits in a Cloud-Hybrid World

      Exist Software Labs Inc and Informatica Pocket Session 2022: Realizing Data Governance Benefits in a Cloud-Hybrid World 650 486 Exist Software Labs

      Exist Software Labs Inc and Informatica Pocket Session: Realizing Data Governance Benefits in a Cloud-Hybrid World

      On September 15, Exist Software Labs, in a joint effort with Informatica, gathered various market leaders from various verticals to conduct another pocket session on Data Governance and its benefits in a Cloud-Hybrid World.

      Exist and Informatica: Realizing Data Governance Benefits in a Cloud-Hybrid World

      Jon Teo, Data Governance and Privacy Expert at APJ spoke at the event about its benefits. He demonstrates how it helped various industries such as healthcare, automotive, insurance, manufacturing, power, and others around the world by leveraging its risk and compliance to protect the enterprise, as well as data intelligence that unlocks more value and data opportunities for businesses.

      According to him, rapid cloud adaptation and a hybrid ecosystem generate more volume from more sources, making it difficult to discover, manage, and control data, requiring the urgent need for an agile governance approach.

      Kingsley Dsouza, a Technical Data Governance Privacy Domain Expert, was one of the speakers who also demonstrated Informatica’s services. According to him, “Data Governance platform helps users in finding information that will assist them in solving their day-to-day business problems, which most organizations struggle with and take a long time to process.”

      It’s no secret that the Asia-Pacific region lags behind the rest of the world in data management, with less than 50% of organizations having standardized data management capabilities. As the amount of data generated in the region continues to grow at an exponential rate, organizations are scrambling to find effective ways to manage and store all of this information, which is where the agile governance approach comes into play.

      Mitigate security risks and ensure compliance with data privacy laws by standardizing your data management! Get in touch with our team to know more.

      Download our FREE DATASHEET!

      Begin your journey toward data maturity.
      and transform into a data-driven organization today!

      Did you miss the event?

      Watch the Realizing Data Governance Benefits in a Cloud-Hybrid World Video On Demand now!

      Exist Software Labs Inc. and Informatica

      Exist Software Labs Inc. and Informatica held a joint Pocket Session on Intelligent Data Management Cloud at the Shangri-La Fort Hotel in BGC!

      Exist Software Labs Inc. and Informatica held a joint Pocket Session on Intelligent Data Management Cloud at the Shangri-La Fort Hotel in BGC! 650 486 Exist Software Labs

      Exist Software Labs Inc. and Informatica held a joint Pocket Session on Intelligent Data Management Cloud at the Shangri-La Fort Hotel in BGC!

      ‘Data is the new oil. Like oil, data is valuable, but if unrefined it cannot really be used. It has to be managed/processed (integrated, mapped, transformed) to create a valuable entity which provides insights that drives profitable activities.’ – Informatica

      A collaboration with Informatica


      Exist Software Labs inc collaborated with Informatica for an exclusive face-to-face event last July 28, 2022, at the Shangri-La Fort Hotel in BGC. The guests were able to meet with data management expert and Informatica’s Head of Cloud Product Specialist, Daniel Hein, who shared how companies can bridge the gap between technology and business through automation, integration, and data governance, unlocking true business value from data.

       

      The world is changing, and so are your business’s needs. You must be able to adapt quickly to keep up with the changes. “In the last two years, a lot has changed. We are faced with new ways of doing business; the world is moving to a data-driven digital economy… However, there are CONSTRAINTS that you must overcome.” says Daniel Hein, Head of Cloud Product Specialists, APAC and Japan.

      That is why businesses must change their approach. The new Intelligent Data Management Cloud intends to help clients with that! The first and most comprehensive AI-powered data management solution in the industry. A single cloud platform. Every cloud-native service you’ll ever need for next-generation data management.

      IDMC

      Meet the new Intelligent Data Management Cloud of Informatica!

      IDMC platform cuts through red tape and provides accurate AI models across your organization so you can make timely decisions based on the most up-to-date information.

      It also gives you 360-degree views of your data across all areas of your business—so you can see who has access and what they’re doing with it—and allows easy workflow management.

      It is built on top of an enterprise cloud platform; and is equipped with a powerful security model that helps keep sensitive information secure from hackers.

      If you’re looking for a way to help your company prepare for this transition and stay competitive in an ever-changing marketplace, look no further! We specialize in helping companies not only to keep pace but also to improve their bottom line through digital transformation.

      Download our FREE DATASHEET!

      Begin your journey toward data maturity.
      and transform into a data-driven organization today!