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Insurance sector ‘to increase focus’ on big data

10

Mar
2016
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Image credit: iStockphoto/shulz

Insurance providers in the UK are expected to rely more heavily on big data analytics solutions this year in order to provide more personalised offers to customers.

Research conducted by Teradata revealed that more than four-fifths of companies with turnover of over £500 million (82 per cent) will be prioritising this technology in 2016. Meanwhile, smaller firms are still lagging behind in this area, with just 46 per cent of providers with under $500 million in turnover agreeing with this.

Despite the growing interest, there is still work to be done in some areas order for the UK insurance sector to catch up with those in other countries. It was noted that on average, 76 per cent of large firms … Read more

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Big data ‘to add £322bn’ to UK economy by 2020

07

Mar
2016
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Big data 'to add £322bn' to UK economy by 2020

The value of big data analytics and Internet of Things (IoT) technology has been highlighted by a new report that forecast the solutions will add £322 billion to the UK's economy alone over the rest of the decade.

The paper is entitled 'The value of big data and the Internet of Things to the UK economy' and was published by the Centre for Economic and Business Research (Cebr) and SAS. It noted the figure is twice the size of the combined budget for education, healthcare and defence for 2014-15 and more than one-fifth of the UK's net public debt for that financial year.

Big data alone is expected to contribute an average of £40 billion a year to the UK … Read more

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Joe Biden: Big data could assist cancer research

29

Feb
2016
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Joe Biden: Big data could assist cancer research

Big data is making a huge difference to a number of companies and industries, allowing professionals to handle data more effectively than ever before and gather fascinating new insights. 

As the number of devices capable of connecting online increases, it is vital that companies find ways of interpreting data that can help to improve their products and services. Sectors such as marketing, retail and insurance have already reaped the benefits of big data. 

However, one area that is perhaps understated is how the technology could help to improve research into diseases, particularly cancer. Vice-president of the US Joe Biden recently met up with healthcare specialists in Utah and explained how a better approach for sharing information will be necessary in … Read more

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Big data allows qualitative factors in investment management to be quantified

29

Feb
2016
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Big data allows qualitative factors in investment management to be quantified

The potential uses for big data are infinite it seems and this goes for the investment management industry as much as any other area. A new report shows that factors that were traditionally considered qualitative can now be quantified through this very handy new area of expertise.

Big Data & Investment Management: The Potential To Quantify Traditionally Qualitative Factors, which has been produced by Citi Business Advisory Services does what it says on the tin. Potential is the most important word here, as so far investment managers have not embraced big data wholeheartedly, but that could all be about to change.

It is something that every investment manager in the land should be clambering to address, as it could give … Read more

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Gartner: Security and analytics among the top IoT trends

26

Feb
2016
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Gartner: Security and analytics among the top IoT trends

The Internet of Things (IoT) has grown into one of the most important new trends in the IT industry, as more and more companies realise the benefits it can bring to their employee and customer experience. 

Gartner has explained some of the top trends expected to affect the rollout of the IoT in the coming years, including security, analytics, operating systems and wide-area networks. 

The organisation explained that IoT security will be required to protect devices and platforms from information attacks, while encryption will be needed in order to address challenges including denial-of-sleep attacks that are designed to drain device batteries. 

Another big issue is that many devices use simple processors and operating systems that may be vulnerable to attacks from … Read more

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Gartner: Cloud email rising in popularity

26

Feb
2016
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Gartner: Cloud email rising in popularity

Cloud email is rising in popularity across the world, as 13 per cent of identified publicly listed companies worldwide utilise one or two of the main cloud email vendors. 

This is according to Gartner, which found that 8.5 per cent of public companies use cloud email from the Microsoft Office 365 service, whereas 4.7 per cent use Google Apps for Work and the remaining 87 per cent use an on-premises, hybrid, hosted or private cloud email through smaller businesses.

Among organisations using cloud email from Google and Microsoft, Microsoft is ahead in the majority of industries, especially in utilities, energy and aerospace. On the other hand, Google is ahead in industry segments where there is more competition, including software … Read more

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Big data delivers benefits after 18 to 24 months

25

Feb
2016
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Big data delivers benefits after 18 to 24 months

Big data delivers a significant return on investment 18 to 24 months after it is rolled out, a new study has suggested.

Research from Computing found that 38 per cent of respondents expect to see positive benefits from the technology after two years, while 27 per cent said one year and 24 per cent said three years. 

On the other hand, just five per cent of respondents said five years whereas four per cent said it would take more than five. The study also found that Apache Spark is catching up with Hadoop as the top big data platform. 

Over 500 IT workers responded to the nationwide study among businesses that have 100 or more employees from different sectors, including … Read more

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Public Cloud IaaS eclipses true private cloud adoption

25

Feb
2016
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Public cloud IaaS eclipses true private cloud adoption

Public Cloud Infrastructure-as-a-service (IaaS) technology implementations are over three times the size of private cloud adoption in the industry, a new study has indicated. 

According to Wikibon, IT organisations are aligning themselves into a position of limited value, as many companies are aiming to introduce technology modernisation initiatives. 

The group found that the overall market size of True Private Cloud implementations is $7 billion (£5 billion), which is significantly lower than the $25 billion value of the Public Cloud market in 2015. 

By 2009-2011, more companies moved towards the hybrid cloud in order to alleviate pressure about losing control over the Public Cloud. This shift in focus led to businesses having simpler access to cloud computing resources. 

Wikibon’s report also … Read more

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The Human Face of Big Data documentary airs tonight on US TV

24

Feb
2016
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The Human Face of Big Data documentary airs tonight on US TV

A popular book about big data has been turned into a documentary and is due to air on the US television channel PBS this evening (February 24th).

The Human Face of Big Data was published in 2012 to much acclaim, with its author Rick Smolan being credited with bringing the topic to a larger audience.

As a photojournalist, Smolan has followed some of the biggest leaps in technological advancement from their inception to widespread rollout in recent years.

He managed to make the topic, which essentially centres around storage and converged infrastructure, into a topic of public interest.

This was mainly achieved through his ability to bring in elements of visual stimulation to what can be a very dry area.… Read more

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Big data is revolutionising the marketing industry

23

Feb
2016
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Big data is revolutionising the marketing industry

Big data is becoming increasingly important to marketers, as they begin to see that it is the future of their industry. Without it, they will find themselves a step behind their competitors, which is a situation nobody wishes to end up in.

While there are many different predictions about just how important the phenomenon will be in the future, there is one that stands out from the crowd. Computer Services Corporation (CSC) has released a forecast suggesting that annual data generation will increase by 4,300 per cent by the year 2020, reports I Media Connection.

What’s more, Gartner corroborated the fact that big data is set to become vital for marketing, stating that chief marketing officers are likely to outstrip … Read more

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