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How Big Data Is Changing The Insurance Industry Forever

8297483344_6b63cdfa60_hIf you’re a young, male driver, or you have one in your family, you are no doubt aware of the astronomical price of car insurance. This is obviously because drivers in this category are involved in a higher number of accidents, so it seems fair that they pay more to be on the road, right? But what about those young, male drivers who are perfectly safe, and never cause a single accident? Isn’t it unfair that they are lumped in with the unsafe ones? It almost seems like a form of discrimination. Big data analysis offers the chance to correct that unfairness. By giving insurers a better indication of which drivers are likely to claim, safer motorists can be rewarded with lower premiums – regardless of their age or gender....
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Cloud Computing is Desired but Cannot be Achieved Due to Shortage of Skills, Survey Reveals

It's a trap!The popularity of Cloud computing over the past few years has been nothing short of astronomical. Its promise of significantly reducing costs, shedding unnecessary hardware, and helping many businesses immediately chop redundancies is part of the reason why so many CIO’s are looking towards the Cloud. Yet, according to new research commissioned by Reconnix, 82% of UK IT professionals do no believe that they have the in-house skills to make the move to Infrastructure-as-a-service (IaaS) providers. Out of the 100 IT leaders questions, 10% views their companies as ready to make the move to the Cloud, while 8% had already migrated or were in the process. On the contrary, and perhaps most surprisingly, it was shown that only 7% of respondents thought their in-house team was capable of moving and...
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Why Data Scientists Create Poor Data Products? 5 Humbling Lessons

SmashedAs the consumer and industrial world gets massively digitized Data products are being baked into critical processes at a very high rate. These data products distill signals from massive torrent of human generated and machine generated data to drive a front line action . At this point we wanted to distinguish between 2 types of data products which we have seen in the market place 1) Consumer Data Products: Data products created to harness human generated data intelligence like Sentiment Analyzer, Reccomender engines, Social graph analyzers, Digital Purchase intent detector. 2) Industrial Data Products: Data products created to harness machine/sensor generated data intelligence in Industrial IOT world like Asset reccomenders, Mean time between failure calculators etc. In the consumer world, Data Scientists were able to create an amazing job of...
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Cortical.io Gain $1.25 Million in New Venture Capital, Share Grand Plans for The Future

Cortical.io Gain $1.25 Million in New Venture Capital, Share Grand Plans for The FutureCortical.io, an Austrian startup whose tech mimics brain function to process language more accurately and natively, have just announced an impressive new funding round. Reventon (NL) is a venture capital firm responsible for this considerable boost to Cortical.io’s coffers. With the new funding, cortical.io already have grand plans on how to bring their game-changing technology to a wider audience. Discussing the business opportunities their signature technology unlocks for enterprises, Cortical.io’s Founder Francisco de Sousa Webber stated: “The beauty of Semantic Fingerprinting is that it is simple and intuitive, while working for any language. With cortical.io’s Retina, the language barriers disappear: anything that can be expressed with words like product descriptions, LinkedIn profiles, Twitter messages, news or business documents can be seamlessly compared, filtered, classified, based on its meaning. People can...
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7 Big Data Funding Stories You Might Have Missed this Year

Cash and DataWhen it comes to this years big data funding stories, the first thing that probably comes to your mind is Intel’s $740 million investment in Cloudera, or MapR’s $110 million financing round led by Google Capital. You’ll also probably recall funding rounds of companies like Hotonworks, MongoDB, and DataStax too. But aside from these popular Hadoop and database vendors, there has been a lot of interesting funding activity in the big data space. Take Alteryx, for example, who raised a whopping $60 million in funding last month; or ContextRelevant who went raised $28 million in just 28 months. Undoubtedly, 2013 was an extremely busy year when it came VC activity in the big data space. This year, however, has been equally exciting! Below are 7 significant funding stories you may...
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Hadoop Vendor Hortonworks Has Filed For an IPO, Looks to Successful Trading Offering Impetus to All Round Growth

HortonworksHortonworks, the data platform that delivers Enterprise Apache Hadoop, integrated with existing systems to create an efficient and scalable way to manage enterprise data, has filed for an Initial Public Offering. The number of shares to be sold and the price range for the proposed offering are yet to be determined. Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC will act as joint lead book-running managers for the offering revealed a press release. Branching out of Yahoo in 2011, the company intends to raise $100 million and list the common stock on the NASDAQ Global Select Market under the symbol “HDP.”, reports the official filing with the U.S. Securities and Exchange Commission. Yahoo controls 19.6 percent of Hortonworks stock, according to the filing, 18.7 percent is with venture-capital...
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