This week, we begin with an article which explores the need for creating resilient data systems for integrated, transparent, and credible public healthcare data system in India. Next is an assessment about data integrity in trusting the data & further trusting the business insights based on that data derived from AI/ML. Then, we have a piece that suggests the combination of best elements of both data warehouses and data lakes to cater the limitations of a data lake and data warehouse architecture. Following that, we have an essay that talks about the benefits of open-source databases in fintech industry, along with the challenges of using the same. Next is a story about how data has no role to play while making investment decisions, since most of real risk comes from a single observation or event. Lastly, we have an article exploring the growing necessity & benefits of ESG reporting for businesses.
Our Public Health System Needs A Dose Of Data Transparency
Prasanta Chandra Mahalanobis, the pioneer of statistics in India, was a key contributor to the five-year planning process in independent India. He was not just a modeler, a mathematician or a survey designer but was considered one of the principal architects of the second five-year plan. Mahalanobis envisioned a robust statistical and data infrastructure for India, working in partnership with the government to enable data-driven policymaking.
Data Integrity And AI: Why You Need Both To Power Trusted Business Decisions
There’s no doubt that artificial intelligence (AI) and machine learning (ML) are increasingly important to organizations seeking competitive advantage through digital transformation. More than 75% of enterprises are prioritizing AI and ML over other IT initiatives, and they are hiring data scientists in droves to make those initiatives happen. However, most of those efforts are siloed within individual business functions rather than addressing digital transformation across the enterprise.
Get The Most Value From Your Data With Data Lakehouse Architecture
Over the years, cloud data lake and warehousing architectures have helped enterprises scale their data management efforts while lowering costs. Conventionally, the steps in the data management architecture typically include enterprise data extraction from operational data repositories and storing them in a raw data lake. The next step is to execute another round of ETL processes to shift critical subsets of this data into a data warehouse to generate business insights for decision-making.
How Open Data Servers Help Optimize Performance In Fintech?
Data is a piece or a large amount of information stored electronically. With so much information stored in different folders, this separation of data makes data storage inconsistent and tedious to access, edit, or replace. That’s precisely where servers or databases come into the picture. With complex data and numbers pouring in daily, especially in the fintech industry, having a solid database or servers is crucial to managing it.
Make Investment Decision Based On Experience, Common Sense Not With Big Data, Clever Models
There’s a video of the ecologist Alan Savory on YouTube, an extract from the documentary Return to Eden, where he talks about the difference between science and academia. What is science? People talk glibly about science, what is science? People come out of a university with a Master’s degree or a Phd but when you take them into the field they literally don’t believe anything unless it’s in a peer-reviewed paper. It’s the only thing they accept and if you say to them but let’s observe, let’s think, let’s discuss, they don’t do it.
Why ESG Reporting Could Be Your Company’s Next Winning Move
Investors, customers, employees and now government agencies are showing increasing concern about environmental, social and governance (ESG) issues. Reports emerged in June 2021 that the Securities and Exchange Commission (SEC) is planning to make quarterly ESG reporting mandatory for all public companies. That news came hot on the heels of the creation of its new Climate and ESG Taskforce in March, with the express aim of clamping down on ESG-related misconduct.
Source: https://mailchi.mp/zigram/data-asset-weekly-dispatch_03_january_3
