Big Data Analytics : by Devyani Lakhera

The digitalization of business has led to the rise of big data analytics. Big data analytics refers to the collection, organization and analysis of large sets of data. Two areas of big data analytics that MIS professionals may be involved with at a business are raw data maintenance and data mining.

Raw data maintenance involves maintaining a business’ raw data, usually in the form of databases. A database is like a library of information (customer data, vendor data, etc.) that is stored in an organized, easily accessible format. Database maintenance is especially important for businesses because in many cases, employees are adding, removing, moving and changing entries at will. This can lead to disorganization—and even database malfunction—if not addressed, and that’s where database maintenance comes in.

MIS professionals are responsible for keeping a business’ databases organized and streamlined in order to keep everything functioning smoothly. Oftentimes, database maintenance can also involve performing regular data backups. This helps protect the business from data loss due to technical problems, security breaches and other problems. A company’s data is one of its most valuable assets, which makes data maintenance a top priority for many businesses.

Data mining is another aspect of big data analytics that MIS professionals may be responsible for. Businesses use data mining to turn large sets of raw data into useful information. In essence, data mining refers to using technology to automatically comb through large amounts of data in order to identify patterns and trends that provide useful insights. MIS professionals may help with a business’ data mining efforts by building data mining models that use algorithms to review and analyze data in order to turn it into manageable pieces of useful information. This information can help businesses learn more about their customers, competitors, industry and more, making data mining an important part of many MIS professionals’ responsibilities.

Cloud Computing : by Devyani Lakhera

Cloud computing is an information technology (IT) paradigm that enables ubiquitous access to shared pools of configurable system resources and higher-level services that can be rapidly provisioned with minimal management effort, often over the Internet. Cloud computing relies on sharing of resources to achieve coherence and economies of scale, similar to a public utility.

Third-party clouds enable organizations to focus on their core businesses instead of expending resources on computer infrastructure and maintenance. Advocates note that cloud computing allows companies to avoid or minimize up-front IT infrastructure costs. Proponents also claim that cloud computing allows enterprises to get their applications up and running faster, with improved manageability and less maintenance, and that it enables IT teams to more rapidly adjust resources to meet fluctuating and unpredictable demand. Cloud providers typically use a “pay-as-you-go” model, which can lead to unexpected operating expenses if administrators are not familiarized with cloud-pricing models.

Since the launch of Amazon EC2 in 2006, the availability of high-capacity networks, low-cost computers and storage devices as well as the widespread adoption of hardware virtualization, service-oriented architecture, and autonomic and utility computing has led to growth in cloud computing.

Cloud computing also storing and accessing data and applications using the Internet rather than your computer’s hard drive. Cloud computing utilizes shared computing resources rather than local servers and personal computers. Cloud computing has become essential to modern business. According to the CompTIA (the IT industry trade association) report, “5^th Annual Trends in Cloud Computing,” more than 90 percent of businesses are now using the cloud to some degree.

Such wide-scale adoption is no surprise, as cloud computing provides innumerable benefits to a business. For example, cloud computing facilitates collaboration, provides better access to analytics, reduces costs, increases productivity, and allows for quick development of new products and services. Cloud computing has the power to transform business, making it one MIS trend savvy professionals can’t afford to ignore.

 

Blockchain: The Invisible Technology That’s Changing the World – by Anurag Sharma & Rhythm Aggarwal

The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym,  Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin.

Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Bitcoin was invented in 2008. Since that time, the Bitcoin blockchain has operated without significant disruption.

What is Blockchain Technology?

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

Blockchain Durability and robustness

Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot:

1. Be controlled by any single entity.
2. Has no single point of failure.

The blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes.  A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this:

1. Transparency data is embedded within the network as a whole, by definition it is public.
2. It cannot be corrupted altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network.