In 1959, Arthur Samuel defined machine learning as a “Field of study that gives computers the ability to learn without being explicitly programmed”. It’s a science of algorithms and automation; the algorithms “learn” from the dataset, identifying patterns or classifying trends for instance, and then automates output- whether that’s sorting data into categories or making predictions on future outputs. In this edition of “Understanding Big Data“, we’ll be taking a more in-depth look at the term and its many different forms and applications. When many people hear the term “machine learning”, they conjure up mental images of robots who walk, climb or clean houses. In reality, machine learning starts alot closer to home. When you open your emails, spam has been filtered out from your important messages by an algorithm…
Follow @DataconomyMedia (Big Data) Hadoop Market Expected to Grow 25x by 2020: According to a report by Allied Market Research, the global market for Hadoop along with related hardware, software and services is expected to grow at a Compound Annual Growth Rate (CAGR) of 58.2 percent between 2013 and 2020. In 2013, the global Hadoop market accounted for approximately $2 billion in revenues and is estimated to increase by $48.2 billion over the next 7 years. Moreover, Asia-Pacific is forecasted to emerge over the next seven years, “with a compound annual growth for the region pegged at 52.9 percent.” (Read the report here: Allied Market Research) (Business Intelligence) Global BI Market Set to Reach $20.81 billion by 2018: Redwood Capital released a report in April forecasting the global business intelligence…
Jonathan Ellis is the Project Chair of Apache Cassandra and one of the co-founders of Datastax, the leading enterprise Cassandra solution. Cassandra is a NoSQL database system centred around performance and scalability; as well as contributing to the development of Cassandra, Datastax provide additional features such as analytics, security and visual monitoring. We sat down with Jonathan at the Cassandra Berlin Buzzwords meetup to talk about the new features in Cassandra 2.1, when to expect a release date and Datastax’s plans for the future. Follow @DataconomyMedia Interested in more content like this? Sign up to our newsletter, and you wont miss a thing! …
Follow @DataconomyMedia It’s been suggested that “Hadoop” has become a buzzword, much like the broader signifier “big data”, and I’m inclined to agree. It could certainly be seen to fit Dan Ariely’s analogy of “Big data” being like teenage sex: “everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it”. To recap, we’ve previously defined Hadoop as a “essentially an open-source framework for processing, storing and analysing data. The fundamental principle behind Hadoop is rather than tackling one monolithic block of data all in one go, it’s more efficient to break up & distribute data into many parts, allowing processing and analysing of different parts concurrently”. In this article, we’re going to explore what Hadoop…
Follow @DataconomyMedia Hamburg, Germany, 24 June 2014 – The big data finance company Kreditech has closed a Series B round that raised 40 million USD in primary investment from new and existing global investors. This is the largest funding round ever for a German financial services technology company and one of the largest rounds in Germany in 2014. The lead investor is Värde Partners, a global investment manager with fund assets in excess of 8.5 billion USD. Co-lead investor is existing shareholder Blumberg Capital. Other shareholders, including Point Nine Capital, also participated in the round. Kreditech will use the investment funds to broaden its existing product portfolio and accelerate geographical expansion. Kreditech is one of the fastest growing European tech focused financial services companies offering global online and mobile lending…
Follow @DataconomyMedia A report from The Chicago Council on Global Affairs was released this month aiming to tackle the question of how big data can be used in municipal and government decision-making. Using specific examples from the City of Chicago, the report suggests that as cities become more populated, officials will have to implement big data analytics to improve the delivery of goods, depth of services, and the quality of life. The report looks at four sectors that could benefit from big data and where early action will have significant benefits. Below is a summary of each sector: 1) Energy – The report calls upon the amount of energy that is wasted due to ineffective management and distribution of power. “Smart grids”, a network of power lines and substations that uses digital communications…
Follow @DataconomyMedia Recommender systems are among the most fun and profitable applications of data science in the big data world. Training data (corresponding to the historical search, browse, purchase, and customer feedback patterns of your customers) can be converted into golden opportunities for ROI (i.e., Return On Innovation and Investment). The predictive analytics tools of data science yield a bonanza of mechanisms to engage your customers and enrich their customer experience. What better loyalty program can there be if not the one that offers the customer what they want before they ask (and sometimes, even before they think of it for themselves). Yes, we know of some cases that have gone bad (such as the secretly pregnant teen and the targeted coupons that Target sent to her father), and we…
In 1959, Arthur Samuel defined machine learning as a “Field of study that gives computers the ability to learn without being explicitly programmed”. It’s a science of algorithms and automation; the algorithms “learn” from the dataset, identifying patterns or classifying trends for instance, and then automates output- whether that’s sorting data into categories or making predictions on future outputs. In this edition of “Understanding Big Data“, we’ll be taking a more in-depth look at the term and its many different forms and applications. When many people hear the term “machine learning”, they conjure up mental images of robots who walk, climb or clean houses. In reality, machine learning starts alot closer to home. When you open your emails, spam has been filtered out from your important messages by an algorithm…
Follow @DataconomyMedia (Big Data) Hadoop Market Expected to Grow 25x by 2020: According to a report by Allied Market Research, the global market for Hadoop along with related hardware, software and services is expected to grow at a Compound Annual Growth Rate (CAGR) of 58.2 percent between 2013 and 2020. In 2013, the global Hadoop market accounted for approximately $2 billion in revenues and is estimated to increase by $48.2 billion over the next 7 years. Moreover, Asia-Pacific is forecasted to emerge over the next seven years, “with a compound annual growth for the region pegged at 52.9 percent.” (Read the report here: Allied Market Research) (Business Intelligence) Global BI Market Set to Reach $20.81 billion by 2018: Redwood Capital released a report in April forecasting the global business intelligence…
Jonathan Ellis is the Project Chair of Apache Cassandra and one of the co-founders of Datastax, the leading enterprise Cassandra solution. Cassandra is a NoSQL database system centred around performance and scalability; as well as contributing to the development of Cassandra, Datastax provide additional features such as analytics, security and visual monitoring. We sat down with Jonathan at the Cassandra Berlin Buzzwords meetup to talk about the new features in Cassandra 2.1, when to expect a release date and Datastax’s plans for the future. Follow @DataconomyMedia Interested in more content like this? Sign up to our newsletter, and you wont miss a thing! …
Follow @DataconomyMedia It’s been suggested that “Hadoop” has become a buzzword, much like the broader signifier “big data”, and I’m inclined to agree. It could certainly be seen to fit Dan Ariely’s analogy of “Big data” being like teenage sex: “everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it”. To recap, we’ve previously defined Hadoop as a “essentially an open-source framework for processing, storing and analysing data. The fundamental principle behind Hadoop is rather than tackling one monolithic block of data all in one go, it’s more efficient to break up & distribute data into many parts, allowing processing and analysing of different parts concurrently”. In this article, we’re going to explore what Hadoop…
Follow @DataconomyMedia Hamburg, Germany, 24 June 2014 – The big data finance company Kreditech has closed a Series B round that raised 40 million USD in primary investment from new and existing global investors. This is the largest funding round ever for a German financial services technology company and one of the largest rounds in Germany in 2014. The lead investor is Värde Partners, a global investment manager with fund assets in excess of 8.5 billion USD. Co-lead investor is existing shareholder Blumberg Capital. Other shareholders, including Point Nine Capital, also participated in the round. Kreditech will use the investment funds to broaden its existing product portfolio and accelerate geographical expansion. Kreditech is one of the fastest growing European tech focused financial services companies offering global online and mobile lending…
Follow @DataconomyMedia A report from The Chicago Council on Global Affairs was released this month aiming to tackle the question of how big data can be used in municipal and government decision-making. Using specific examples from the City of Chicago, the report suggests that as cities become more populated, officials will have to implement big data analytics to improve the delivery of goods, depth of services, and the quality of life. The report looks at four sectors that could benefit from big data and where early action will have significant benefits. Below is a summary of each sector: 1) Energy – The report calls upon the amount of energy that is wasted due to ineffective management and distribution of power. “Smart grids”, a network of power lines and substations that uses digital communications…
Follow @DataconomyMedia Recommender systems are among the most fun and profitable applications of data science in the big data world. Training data (corresponding to the historical search, browse, purchase, and customer feedback patterns of your customers) can be converted into golden opportunities for ROI (i.e., Return On Innovation and Investment). The predictive analytics tools of data science yield a bonanza of mechanisms to engage your customers and enrich their customer experience. What better loyalty program can there be if not the one that offers the customer what they want before they ask (and sometimes, even before they think of it for themselves). Yes, we know of some cases that have gone bad (such as the secretly pregnant teen and the targeted coupons that Target sent to her father), and we…
