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Machine learning is a branch of artificial intelligence that deals with the design and development of algorithms that allow computers to learn from data. It has become an increasingly popular field in recent years, as businesses and organizations have begun to realize the potential of using machine learning to automate tasks and make better decisions. If you're interested in pursuing a career in machine learning, there are a few things you need to know. First, you need to have strong programming skills. Second, you need to be able to understand and work with complex data sets. And third, you need to be able to think creatively about solutions to problems. If you can do all of that, then a career in machine learning could be a great fit for you.
You have a team that already understands your company. We, at Data Science Malta, have a team of experts who will enhance their skills and transform them into being able to extract actionable insights from your company’s data. We understand that your business is unique. Customize any curriculum to deepen your team’s data science capability, be it a particular domain or a technology that you want to focus on.
There are a number of different ways to learn about artificial intelligence (AI), but one of the best is to take an AI course. There are many different types of AI courses available, from online courses to in-person classes. No matter what type of course you choose, you'll likely learn about the basics of AI, including its history, definition, and applications. You'll also gain an understanding of the different types of AI systems and how they work. If you're looking to learn about AI in order to develop your own AI projects, then you'll want to choose a course at Data Science Malta that covers programming and algorithm design. However, if you're simply interested in learning more about AI for personal enrichment, then we also have such courses at Data Science Malta.
You have a team that already understands your company. We, at Data Science Malta, have a team of experts who will enhance their skills and transform them into being able to extract actionable insights from your company’s data. We understand that your business is unique. Customize any curriculum to deepen your team’s data science capability, be it a particular domain or a technology that you want to focus on.
Blockchain is one of the most talked-about technologies in the past few years. While it is most commonly associated with Bitcoin and other cryptocurrencies, the potential applications of blockchain extend far beyond the financial sector. In this course, we will explore the basics of blockchain technology and its potential implications for business, government, and society. We will cover topics such as how blockchain works, how it can be used to create trustless systems, and how it could potentially transform industries like healthcare, finance, and supply chain management. By the end of any of the courses at Data Science Malta, you will have a strong understanding of blockchain technology and its potential to change the world as we know it.
You have a team that already understands your company. We, at Data Science Malta, have a team of experts who will enhance their skills and transform them into being able to extract actionable insights from your company’s data. We understand that your business is unique. Customize any curriculum to deepen your team’s data science capability, be it a particular domain or a technology that you want to focus on.
Any business starts off with a concept or idea. For it to take off, this idea needs to be transformed into action. This can be considered by many, as the most difficult part of any business. As much as it may require work with no immediate monetary return, once you keep on going, it becomes easier. Breaking up the big goal into small tasks, can turn actions into something which is easier to tackle.
While you may think of data reports as boring, tedious, and purely business-related, the fact of the matter is that these reports are important to your business growth and development. Your data shows you how your business has grown (or not grown) over time, and it’s important to keep an eye on your data because it highlights the areas in which your business might need improvement. For example, if you notice that your net revenue has decreased month after month, then you know that something needs to change in order to turn things around and get back on track.
Start by Knowing What To Look For
When you’re looking at business reports, you need to be able to identify what they mean and how they can help you. If it’s your first time poring over a report, ask a friend or advisor for some advice on what information is most important in that particular report and why. They may have useful insight into where your efforts will be best spent. When you see something that peaks your interest, make a note—you may want to look into it further in future data reports.
Analyze, Don’t Guess
There’s an old saying in business, If you can’t measure it, you can’t manage it. One of your primary goals as a business owner is to increase profitability, and one way is by closely monitoring your company's performance over time. To do that, start with these basics
Always Ask Why
If a report or metric is pointing in an interesting direction, always try to figure out why. For instance, if you’re seeing sudden growth in a new area, it might mean your marketing efforts are paying off—but it also could mean you’ve made changes to your site that have led users who formerly bounced to stick around and engage. Try to discover what’s driving changes by asking why multiple times: Why did we see that growth? Why did they stick around?
Collect More Data Than You Need
When collecting data, try asking yourself why you need it and what you’re going to do with it. For example, if you want to analyze traffic on your website from mobile vs. desktop users, collect more information than just whether or not a user is using a phone or computer. Ask for demographic details like gender and age too; your findings will only be as reliable as your research questions, so gather more data than you need.
Know When To Let Go
I’m sure we can all agree that it’s no fun to let go of a project. There’s always more work that could be done, more tweaking that could be done, or some way for you to save a sinking ship if only you had more time. But guess what? The world will not end if you have a version 1.0 and move on.
While you may think of data reports as boring, tedious, and purely business-related, the fact of the matter is that these reports are important to your business growth and development. Your data shows you how your business has grown (or not grown) over time, and it’s important to keep an eye on your data because it highlights the areas in which your business might need improvement. For example, if you notice that your net revenue has decreased month after month, then you know that something needs to change in order to turn things around and get back on track.
Check out Datalgorithmics
Start by Knowing What To Look For
When you’re looking at business reports, you need to be able to identify what they mean and how they can help you. If it’s your first time poring over a report, ask a friend or advisor for some advice on what information is most important in that particular report and why. They may have useful insight into where your efforts will be best spent. When you see something that peaks your interest, make a note—you may want to look into it further in future data reports.
Analyze, Don’t Guess
There’s an old saying in business, If you can’t measure it, you can’t manage it. One of your primary goals as a business owner is to increase profitability, and one way is by closely monitoring your company's performance over time. To do that, start with these basics
Always Ask Why
If a report or metric is pointing in an interesting direction, always try to figure out why. For instance, if you’re seeing sudden growth in a new area, it might mean your marketing efforts are paying off—but it also could mean you’ve made changes to your site that have led users who formerly bounced to stick around and engage. Try to discover what’s driving changes by asking why multiple times: Why did we see that growth? Why did they stick around?
Collect More Data Than You Need
When collecting data, try asking yourself why you need it and what you’re going to do with it. For example, if you want to analyze traffic on your website from mobile vs. desktop users, collect more information than just whether or not a user is using a phone or computer. Ask for demographic details like gender and age too; your findings will only be as reliable as your research questions, so gather more data than you need.
Know When To Let Go
I’m sure we can all agree that it’s no fun to let go of a project. There’s always more work that could be done, more tweaking that could be done, or some way for you to save a sinking ship if only you had more time. But guess what? The world will not end if you have a version 1.0 and move on.
Blockchain has been in the spotlight lately, as more and more companies turn to this technology to handle their supply chains and other business operations. But what is blockchain, exactly? And how does it work? There’s plenty of confusion surrounding this new technology, so in today’s blog post I’ll attempt to demystify it for you and explain how using blockchain can improve your business operations.
The benefits of blockchain
In theory, blockchain offers a number of benefits to logistics companies, from cost savings to greater efficiency. This can help transportation and shipping businesses in particular compete with other modes of transport as they battle for cargo business. In addition, logistics companies also stand to benefit from more streamlined international shipping processes thanks to blockchain’s potential. Meanwhile, freight forwarders could also see some major benefits if blockchain becomes widely used within shipping circles.
How blockchain benefits supply chain management
The blockchain is being developed for an array of reasons, but its potential to improve supply chain management could be a game-changer. For example, logistics companies like UPS are already utilizing it to manage their complex business processes—and some argue that they’re doing so more effectively than any other field or industry. In fact, because blockchain is a decentralized network, it can solve two common problems in supply chain management.
How blockchain benefits shippers
The shipping industry has been transformed by technology, to say the least. But, it can be difficult to see how changes like electronic Bill of Lading (e-B/L) affect your business as an individual shipper. It’s not too complicated, though; blockchain will make shipping easier for both you and your customers. What do we mean? Let’s take a look at two ways blockchain will benefit shippers like you.
How blockchain benefits carriers
Taking things a step further, blockchain could be used to manage shipping itself. The data that moves within a shared ledger is immutable, so it can’t be changed or deleted after it’s entered into a blockchain entry. This feature of blockchain helps address issues like fraudulent customs declarations and phoney invoices for goods that never existed.
Real life use cases
Cross-border supply chains are a perfect use case for blockchain. In these cases, each party on both sides of a trade deal needs to be able to see where goods are at all times, easily check that they’re legit and quickly react if something goes wrong. It’s hard to do that with existing systems—and it becomes even harder when you consider how many different companies are involved in such a system.
What’s next?
Logistics are what keep an operation going. From product delivery to keeping stock in-house, logistics is more than just important – it’s vital. That said, logistics can also be expensive due to all of that moving around of items; it costs time, money, and energy to move a single item from Point A to Point B.
Big data has become one of the most popular business buzzwords in recent years, with many companies claiming to be leveraging their data to compete better and generate bigger profits. But what exactly is big data, and how can it help your business grow? Here’s what you need to know about this burgeoning trend and its potential as a catalyst for your company’s growth and development.
What is big data
Big Data is a term used for datasets that are so large or complex that traditional data processing applications are inadequate. Hadoop is a framework for reliably operating with massive amounts of data on computer clusters built from commodity hardware. This enables enterprises to operate on previously unimaginable scales and unlocks valuable insights into their operations and customers, as well as fresh opportunities to improve core business processes.
The benefits of big data for businesses
Big Data is one of those catchphrases that gets thrown around a lot in articles written by tech sites, but what exactly does it mean? More importantly, how does it benefit businesses? Here are a few ways Big Data will help your company become more efficient.
Finding the right kind of strategy for your business
Before approaching any kind of analytics, it’s important to understand exactly what sort of strategy you need for growth. To do that, you’ll have to consider where your business is now and where you want it to go. Big data may not be a panacea for every struggling enterprise—but it’s certainly a good place to start.
Dealing with security issues
Hacking and other security issues are becoming more common, especially in areas such as healthcare, where keeping records private is a matter of life and death. Small businesses should take proactive steps to ensure their information is secure—and as many large corporations have learned (e.g., Target), it’s better to be safe than sorry. Consider investing in a cybersecurity specialist or taking advantage of free resources such as Google’s Security Key for signing into online accounts.
It’s clear that artificial intelligence has many potential benefits in health care, from making diagnoses to reducing administrative burden. However, we have yet to see widespread adoption of these technologies on a large scale. While some countries in Europe are leading the way with their AI healthcare initiatives, others lag behind in their efforts to implement AiMD systems in everyday practice and make them available for patients. Here’s what you need to know about AiMD in Europe today!
Where does AI fit into healthcare?
What’s interesting about healthcare is that it’s becoming more technical, which means there’s room for machines to do a lot of work that humans have traditionally done. But, while AI might be able to help with some things better than humans can (like diagnosis), it probably won’t replace physicians altogether. So, AI will likely play a role in healthcare as a tool—one that helps doctors make their diagnoses more efficiently.
Who are the key players?
Two research centers stand out as key institutions for AI in medicine. One is IBM Research, which opened its new European center at King’s College London, and has already established one of its key goals to be developing AI-driven cognitive computing applications that will change how doctors diagnose disease and treat patients. Another important center is HEC Paris, a leading business school with a focus on management and technology innovation.
When can we expect some real developments?
AI has been touted as a game changer for so many industries and it’s no different when it comes to medicine. To speed up our understanding, we spoke with researchers from top European institutions working on AI to find out their thoughts on where things currently stand—and how fast it will all happen. Here’s what we found.
What technological advancements will drive AI in health forward?
When people think about AI, they immediately imagine robots or computers coming to life. But artificial intelligence encompasses much more than that; AI and machine learning (ML) are becoming increasingly integrated into our daily lives. We’re seeing progress every day that allows us to use AI across all industries—and medicine is no exception. Even within healthcare, there is significant opportunity for improvement through AI and ML.
What potential do you see for AI?
Ai could revolutionize medicine. A doctor’s most valuable resource is time, which can be spent not only with patients but also researching and developing new treatments and therapies. Ai could free up time to focus on these areas and take on some of a doctor’s more mundane tasks, improving both diagnosis rates and treatment methods. It could also help medical professionals make better use of their skills by reducing errors that occur when doctors are overworked or fatigued. However, there are concerns about data security and privacy as well as how AI will interact with existing laws and ethical codes around medical care. It will be important for lawmakers to keep abreast of developments in AI so they can ensure it remains within safe parameters while still being able to deliver on its potential benefits.
Up until a few years ago, Big Data was the buzz word which every industry was utilising. It has now become a must to utilise and generate insight from the large volumes of data, which any industry is generating. The aviation industry is one such industry, which is constantly generating data, at every instance, being passenger, in-flight, social data and third-party data, to mention just a few. One of the fastest and most effective ways to utilise data, which is being used by the majority of airlines, is to use it to improve marketing efforts to personalise them towards the particular needs of the passengers.
Being able to create the typical personas which usually travel with an airline, will allow for particular promotions, adverts and social media posts to target passengers accordingly. For instance, an airline might start providing a particular new flight, following analysis of trends showing more passengers flying certain routes. This aspect could also better target the demands following prior and posterior analysis of the passenger lifetime value. Moreover, passenger purchase activity trends, can also be utilised and analysed to meet the demand patterns in various ways.
Having such data at hand, one can determine which personas or passenger segments are price sensitive and also be able to measure the possible spending patterns on a given route. Nowadays airlines are also investing in data science departments and artificial intelligence algorithms which can determine seat pricing in real-time, all depending on the passenger’s demands. Such trend analytics looks into historical data, works on trends and allows for predictions on demands in space and time. Flight safety, can also be improved with the utilisation of data and understanding of trends. This is achieved with the utilisation of machine learning algorithms, which have the capabilities to crunch data in real-life to warn about any anomalies during a flight and provide solutions based on past similar anomalies.
Moving into an era of easier access to wearable technology and Internet of Things (IoT), will be a complete game changer in the aviation industry. The IoT, which is made up of a web of sensor networks, can use intelligent algorithms and technologies to gather data, interpret them and take immediate and concrete action. Such technology can help within the full passenger lifetime experience and transform the curb-to-gate-to-destination experience into data which is collected and transformed into valuable insight to create the ultimate experience for the passenger and a valuable revenue path for the airline.
Big Data helps to create better experiences for the passengers, by understanding and identifying patterns to determine preferences and demands, and anticipate future requests. By creating an environment which thrives on data-driven decisions, substantiated with proper business and aviation acumen, the leveraging of Big Data insights will allow for the best possible strategic decisions to be taken. This will in turn help the airline differentiate itself in an extremely competitive market.
We have all been now made aware on how our data is being utilized. The lack of privacy that our lives have, once we engage with the outside world and moreover, the benefits companies are getting from such data. So, what is all this fuss?
As individuals we want our private lives to be made public, to what we believe are just our niche of friends on Facebook or followers on Instagram, yet the reality is that we all sign up to terms and conditions which explicitly note the fact that anything placed within the particular platforms does not remain our own property. We all get the benefit of such platforms being offered to us free of charge, yet we want to retain our rights on what we have ourselves published. Although privacy and data regulations exist to protect how and when our data is utilized, which is in fact noted on any new game we decide to engage on, over social media or any website we browse, the majority of people out there, still feel stripped off of their own privacy. The simplest rule is to simply not publish anything, you feel uncomfortable being utilized by others. In this era, we publish our wedding photos, our children's first portrait, what we are doing and where we had lunch, 2 days ago.
The simple truth is that companies are only using your data to understand trends, likes and customs. We, as data scientists, need to gauge what the general public looks for, what certain segments of the population want to play or what is most likely to be successful as the next social media platform. Once these trends are gathered and analyzed, you, the audience who argue that you do not want your "private" data, which you put out there, to not be utilized, will benefit from new games, platforms, food and clothing, which will become a success.
Should you wish to remain anonymous in today's world, you may wish to stop all subscriptions you have, stop the utilization of any voucher or discount cards, never use any credit card, not use any kind of social media and within the next couple of years, you will also be house-bound, as our cities will become smart cities, collecting all our data, to help us live in a better world.
Now that the next general election in Malta is imminent, it might be of use to understand the importance of the effects of data. Data has been essential in politics, ever since a data-driven reelection campaign was set up with President Obama going back into office. Data is the driver towards targeting voters by understanding and determining where best to place key resources. Big data platforms can also help in the building and maintaining the demographics and key data from the countries' voters.
Rather than having your candidates knocking door to door to gather votes, we should now start relying more on data and target the needs of the country. Similarly as with the business aspect, data management and analytics will help to bare the challenges and opportunities for the best marketing strategies. The onset and utilization of social media data within the commercial field should spur political campaigns to also make the best use of it and connect with voters. Social media platforms are nowadays used by voters to discuss politics and provide their opinion. Although, still not a huge trend here in Malta, the US campaigns gather millions of Twitter conversations.
Such involvement and activism should be enough reason why such data needs to be collected and utilized, since this engagement presents a huge opportunity to reach other to voters. Reaching out to voters, should be done by providing them with content which engages with them. Therefore, apart from the collection of the data, driving towards the optimal strategies is key to winning a campaign.
Data is created at a constant rate and by applying mathematical algorithms, this can help for political parties to reach their target voters, more than ever. Finally, another role of data analytics is the predictive aspect, i.e. forecasting who will win the next elections. Gathering that data and analyzing it in its most effective and efficient manner is key to predictive analytics. Dare you ask a data scientist to forecast who will win the next general elections or will you wait for the results on the 3rd of June?
The current, hottest trend within the analytics bubble is deep learning. With the constant investment in big data analytics and data scientists themselves, this does not come as a surprise. Enterprises and companies are investing heavily in the acquisition of talent for the analysis and business acumen, within Big Data.
The big data analytics market will soon surpass the $135 billion. In 2016, IDC published it's findings, stating that the worldwide revenue fro big data and business analytics would grow from $130.1 billion in 2016 to more than $203 billion in 2020, at a compound annual growth rate (CAGR) of 11.7%, with the banking industry being one of the sectors seeing the fastest growth in this field. The creation of this data-driven culture will continue being a challenge. The hardware and software are not to blame.
The organisational resistance will be to blame. The lack of understanding and the lack of data policies will still be hot topics over which different departments will need to establish criteria. The Chief Data Officer will lead the enterprise, via innovation and revenue. By building consistent and strong analytics teams and making the best out of the analysis, the CDO can really be the strongest person on board.
The rise of social media has created a world of possibilities within the marketing world. For the visionary marketer, this is an environment which is being exploited to it's full potential. The shift to social media platforms, has pushed consumers to copy fellow consumers, to make their purchasing decision. Instead of looking at conventional adverts, websites and shopping windows, the younger consumers are looking into their favourite consumer influencers, over the various platforms, including YouTube, Instagram and Pinterest, amongst others. This creates a world of possibilities, which opens up new channels for brands to directly involve their consumers, amplifying their message.
So why are marketers looking into influencer marketing? The main reason being, that it is powerful! It can drive marketing up to a scale, which cannot be done, with any other marketing strategy. Studies by McKinsey, have shown how word of mouth marketing and retention rates are higher, with this type of strategy. The social aspect of this type of marketing, also allows the brand to be built with the customers, rather than at them. It provides a ripple effect within the marketing community, as it allows further consumers to also share their purchases, just like their favourite social media personalities. This makes it all the more interesting than the more conventional adverts, which most consumers are nowadays fed-up of. This creates big profits with very small effort, turning this type of marketing into a very powerful arbitrage, of which we will be seeing more of.
Despite the large volumes of data, companies still struggle to access, manage and extract the information that their day-to-day processes generate. The growth of IT systems has provided these same companies, the ability to capture this potentially valuable data, within a number of applications, databases and organizations. Apart from a strong IT infrastructure, changes in the board and management, within a company also need to be carried out. This allows a number of departments to work in coordination and help ensure success of the utilization of the data at hand. Understanding what is required out of the data, is the first step to generate the best results from the company and customer data. The strategy is to understand how the information can enable an improvement in the business.
Although it is not essential that the business defines all of the end-results required, the more understanding there is of what is required, the more likely it is that the data, turns into the best useful information for the business. Although the identification of an appropriate strategy is essential, the set of critical data assets is to be kept as small as possible, to allow the information to spread towards a number of further data assets and not be influenced by a priori information. Once the ball starts rolling, further attributes can be unveiled by a good data strategy and thus, further information obtained incrementally over time. Such information is usually linked to long-term value to the business across multiple systems and processes.
The exploding large data generated by our current world, the so-called big data, is slowly but surely becoming the key basis to competitiveness in the market. Every sector is either starting or will have to very soon start grappling with the implications of such large data sets. This large data, is a very important factor in the labor, production and capital injection in any business. The increasing volumes and detail of information captured by enterprises, via a number of multimedia tools, social media and the Internet of Things, fuels the exponential growth in the data for the very near future.
The value which can be created from big data is significant. Information becomes available at a higher frequency, allowing for new information and trends to be utilized in real-time. Such data and information can be more accurate about customer transactions and product performance, amongst others, thus boosting performance faster. We can already see a number of leading brands and companies analyzing collected data to make better management decisions in the long run.
Others are resorting to utilizing low-frequency forecasting to manipulate and adjust the business parameters, just in time. Moreover, big data has the potential to provide the segmentation of customers according to the business needs, together with the correct statistical analysis.
With this onset of such huge analysis and mathematical manipulation, it can be assumed, that at some point, there might be a shortage of skills necessary for organizations to take advantage of big data. A number of universities are including a larger number of analytical courses, degrees and specializations to cater for this new skills gap. In the very near future, it will not just be the analysts, essential in a business, but also the managers with the understanding to address the analysis of big data and take effective and efficient decisions. Such decisions, include but are not limited to, the investments in customer relationship management (CRM), solutions to lower the customer acquisition cost (CAC) and other solutions to increase the customer lifetime value (CLTV) to manage customer-driven metrics at their best.
With one of the top spots retained for the request of Facebook personal data per capita by the Maltese government, it is becoming more evident that Malta is adjusting to the big data revolution. We no longer can keep much of our lives personal. With every supermarket transaction, Facebook and Twitter login and discount card usage, our personal data, buying habits, posts, photos, likes and chats, we reveal our lives to help companies and governments, achieve the two Ms: Monitoring and Monetization.
Businesses and institutions, have become deeply focused on big data to drive profits on customer insights. The more data, that data scientists and statisticians can take up, the more precise the forecasts over specific algorithms will be. Such forecasts, can communicate something of value and potential. Hence, client data is an asset to any company. Nowadays, more companies are realizing that they cannot continue being competitive if they cannot put good data to use. Whereas before, analytics was run under the business intelligence branch, focusing on reporting, it is ever more important to concentrate on a more personalized service and product. To this end, asset surveillance is of utmost importance and the process of managing such assets to maintain client privacy is audited thoroughly. There is currently no big data code of ethics, though, there are controls over who can access the data and how they can use such data. Privacy regulations should not only be put in place at the national level, but also at the industry level. The main challenge faced is that online data, comes in so quickly that in some cases, there may be a lag between when data comes in and when such regulations are put into place.
With the constant advancement on the big data front, comes an every changing range of different technologies, which enable the storage, manipulation and forecasting of big data. Although such technology is still in its initial stages with the utilization to its full potential in Malta, we have a number of international companies, employing these technologies, with the help of more data scientists. Getting into the big data game is not as easy as it may seem.
Many companies fail to recognize that the collection of large quantities of data alone, is not the answer. The reality is that proper collection of such data and sieving through it, can reap more benefits. Companies and firms that are looking into the monetization on Big Data, should look beyond the simple data and more into the economic questions that can be answered with such data. Often times, data can help answer very specific questions, pertaining to the particular business about the risk, future and current value, risk of a specific asset or product. Data will provide information about the market and how customers behave in general. Such information is of extreme importance to market participants. Companies should start with understanding the business challenge and gather the information, specifically in relation to this challenge, as it is more likely to provide the most valuable insight. Investment in technologies and the skills to use them, such as predictive analytics, smart data discovery solutions and advanced natural-language generation, will help attain the true value from the data the company has.
Such companies, looking at getting into the big data company, should therefore have to their availability, large quantities of readily available data and information, access to advanced analytical tools, such as Hadoop and NoSQL and the human workforce capable of putting these tools to work. Big data is not just to be considered as another technology fad, as this won’t help anyone get the most out of such data, but rather, this has to be embedded into every department, where the employees, can understand the significance of data at hand to the whole company. It is a way forward, to understand that, should data, information and insights be shared, these can help recognize synergies between different departments and help scale up the benefits that analytics and forecasting can provide. The Big Data boom has effected all of us, sometimes, without even realizing. It’s an exciting revolution and one which we shall hear more about in the years to come. It can easily be considered as the current future.