Tag: Data Management

Welcome Frederik, could you tell us more about your role at BeCause and how your journey has shaped the company’s mission?

As the CEO of BeCause, I focus on how our AI-powered technology platform fits into the larger narrative of advancing hotel sustainability across the broader travel and tourism sectors. Part of my role is facilitating the connections between BeCause and key industry players to create a global ecosystem where reliable, and trustworthy, sustainability data flows seamlessly between hotels and tourism companies, regulatory bodies, booking platforms, eco-certification issuers, industry organizations, and ultimately, travelers.

When we launched BeCause, our goal was to provide hotels with a more efficient, cost-effective, and transparent way to collect and share their sustainability data. This enables them to a) Reduce the time and cost required to get certified — currently, the main way hotels substantiate sustainability claims and showcase their sustainability credentials; and b) Give the growing number of consumers seeking sustainable accommodations easy access to that information.

As the only company on the market focused on solving the specific challenges hotels and tourism companies face in managing their sustainability data, we have emerged as the standard for data exchange. This is especially significant given where we are in our journey as a company. While the flow of sustainability data might not seem particularly exciting, it is central to modern corporate decision-making and, increasingly, financial operations.

Effective data management processes allow hotel leaders to make the innovative sustainability investments required to reduce the industry’s carbon footprint. Within this context, part of my role is to represent this standard, so I participate in organizations such as the Climate Committee at the Danish Industry Federation.

In terms of how my journey has shaped the company’s mission, I think it’s at the heart of what we do. Growing up in Oman, I witnessed the degradation of coral reefs firsthand, much of it caused by tourism. This experience left a lasting impact on me.  Like many, I love to travel and explore the world, but that passion shouldn’t come at the expense of our planet. Opting for more sustainable accommodations is one way we can reduce the harmful effects of travel, but before BeCause consumers lacked a verifiable way to identify which properties were truly committed to protecting the environment.

Professionally, I come from the world of management consulting, so I’m equally at ease with diving into the granular details while maintaining a big-picture perspective – crucial skills for a CEO.

To Know More, Read Full Interview @ https://ai-techpark.com/aitech-interview-with-frederik-steensgaard/

Related Articles -

Top Five Best AI Coding Assistant Tools

Data Literacy in the Digital Age

Trending Category - Threat Intelligence & Incident Response

Today, enterprises find themselves on the cusp of a transformative era, poised to unlock unprecedented business value by harnessing the full potential of AI. According to McKinsey, 44% of companies implementing AI report reduced operational costs, with many also experiencing revenue growth. However, successful AI adoption and modernization involve more than just deploying the latest technologies.

To achieve meaningful AI integration, organizations must first deeply understand their existing processes and pain points, establish robust data management practices, and align AI capabilities with broader business objectives. This approach enables improvements in efficiency, accuracy, cost savings, and compliance, empowering companies to excel in competitive markets and maximize AI’s impact and return on investment.

AI’s Role in Driving Business Transformation and Resilience

When implemented thoughtfully, AI can do more than optimize current operations; it can create new pathways for business growth and innovation. By aligning technology investments with strategic objectives, organizations can leverage AI to gain insights, anticipate market trends, enhance customer experiences, and streamline operations.

AI adoption also enhances resilience by supporting proactive risk management and scenario planning. With AI-driven predictive analytics, companies can anticipate challenges, optimize resources, and address potential disruptions. This proactive stance improves efficiency and builds agility, equipping businesses to respond quickly to market changes and competitive pressures. Through strategic AI integration, enterprises establish resilience, enabling them to adapt to uncertainties and sustain high performance.

Beyond technology investments, leadership is essential in this dynamic environment. Cultivating a culture of learning and innovation, supported by AI and modern technology, promotes sustainable growth, nurtures talent, and seizes emerging opportunities to distinguish the organization from its competitors.

AI has already transformed numerous aspects of business, and data-related functions are no exception. The push toward using AI for business value reflects a significant shift toward data-driven innovation, with operational excellence soon becoming an imperative. By strategically leveraging AI’s potential, companies can elevate efficiency, customer experiences, and market leadership. With reliable data as the foundation, businesses are well-prepared to navigate the complexities of an AI-powered world.

To Know More, Read Full Article @ https://ai-techpark.com/ai-data-business-power/

Related Articles -

AI-Powered Wearables in Healthcare sector

Top Five Best Data Visualization Tools

Trending Category - Patient Engagement/Monitoring

Data has always been the backbone of business operations, highlighting the significance of data and analytics as essential business functions. However, a lack of strategic decision-making often hampers these functions. This challenge has paved the way for new technologies like data fabric and data mesh, which enhance data reuse, streamline integration services, and optimize data pipelines. These innovations allow businesses to deliver integrated data more efficiently.

Data fabric can further combine with data management, integration, and core services across multiple technologies and deployments.

This article explores the importance of data fabric architecture in today’s business landscape and outlines key principles that data and analytics (D&A) leaders need to consider when building modern data management practices.

The Evolution of Modern Data Fabric Architecture

With increasing complexities in data ecosystems, agile data management has become a top priority for IT organizations. D&A leaders must shift from traditional data management methods toward AI-powered data integration solutions to minimize human errors and reduce costs.

Data fabric is not merely a blend of old and new technologies; it is a forward-thinking design framework aimed at alleviating human workloads. Emerging technologies such as machine learning (ML), semantic knowledge graphs, deep learning, and metadata management empower D&A leaders to automate repetitive tasks and develop optimized data management systems.

Data fabric offers an agile, unified solution with a metadata-driven architecture that enhances access, integration, and transformation across diverse data sources. It empowers D&A leaders to respond rapidly to business demands while fostering collaboration, data governance, and privacy.

By providing a consistent view of data, a well-designed data fabric improves workflows, centralizes data ecosystems, and promotes data-driven decision-making. This streamlined approach ensures that data engineers and IT professionals can work more efficiently, making the organization’s systems more cohesive and effective.

Know More, Read Full Article @ https://ai-techpark.com/data-management-with-data-fabric-architecture/

Read Related Articles:

Real-time Analytics with Streaming Data

AI Trust, Risk, and Security Management

Companies are dealing with overwhelming amounts of data, and this data must be governed, compliant, and secure, especially when working in the financial, healthcare, and insurance sectors. As the complexity of data environments increases, traditional data governance approaches largely fail to address these challenges adequately and lead to the emergence of what many researchers refer to as Data Governance 2.0. undefined Laying its foundation is the metadata-driven data fabric, which represents a highly transformative approach to data management and governance, compliance, and security.

Expanding on the concept of data fabric architecture and elements, this article focuses specifically on the use of metadata layers to improve governance and compliance for businesses operating in highly regulated environments.

In this blog, we will also discuss the concepts, opportunities, and risks of constructing a metadata-driven data fabric to enhance compliance and security.

The Evolution of Data Governance: From 1.0 to 2.0

Data Governance 1.0: Legacy Governance Models

The conventional view of the data governance process was mainly concerned with data adequacy, control, compliance, and the ability to store data securely in isolated databases. This was primarily a rule-governed and manual approach. The governance policies we had were far from dynamic and flexible to adapt to the evolving needs of the current organizations.

Legacy systems in Data Governance 1.0 face several limitations:

Manual processes: Some of the measures of security are checked manually, and this leads to slow processes and errors because it is done by human beings.

Siloed data: Data resides in multiple systems and silos, which causes issues with governance alignment.

Static policies: Governance rules do not adapt to the emergence of new data scenarios and the constantly evolving compliance requirements.

Why Data Governance 2.0?

The data environment has changed, and it is now imperative for organisations to sort data through hybrid and multi-cloud solutions, and address increasing concerns of compliance and security. This phenomenon is has therefore resulted to what is now known as Data Governance 2. 0, a governance model designed for the modern data ecosystem, characterized by:

Real-time governance: Managing a multilayered set of governance policies for both cloud and on-premises & hybrid solutions.

Data integration: Integration management of distributed data and assets with out leaving their original location.

Proactive compliance: Engaging metadata and AI to enforce compliance in a dynamic manner.

To Know More, Read Full Article @ https://ai-techpark.com/how-metadata-driven-data-fabric-ensures-compliance-and-security/

Related Articles -

Transforming Business Intelligence Through AI

Introduction of Data Lakehouse Architecture

Trending Category - IOT Smart Cloud

In an era where data is heralded as the new oil, there’s an inconvenient truth that many organizations are just beginning to confront: it is therefore important to realize that not all data is equal. With the increasing digitalization of the economy and an imperative to increasingly rely on data in products and services, the focus has been traditionally on the sheer amount of data that can be gathered to feed analytics, provide clients with personalized experiences, and inform strategic actions. However, without this policy to embrace data quality and data lineage, even the strenuous data collection would result in disastrous results.

Let us take an example of a general merchandising retailer chain that, to sustain and overcome its competitors, started a large-scale acquisition-based customer loyalty campaign with help of their gigantic data warehouse. High expectations of the initiative and great investment to make it work reached a deadlock when the issue was revealed: the data behind the plan was unreliable. The promotions of the retailer were wrong since the wrong customers were being targeted, and this eroded the trust of the customers.

This is not an unusual case. In fact, all these issues will sound very familiar in most organizations, yet often with no realization regarding potential hidden costs in the form of poor data quality and a lack of understanding in terms of data lineage. If data is to become a true strategic resource, then organizations have got to go beyond what appears to be mere numbers and down traceability of data. Only then can they establish the much-needed trust in today’s world to answer the diversified needs of the customers and the regulating bodies.

The Hidden Truth About Data: It’s Only as Good as Its Quality

The question is: Who would not want to work with data? The truth is that data is full of errors, inconsistencies, and inaccuracies. Data quality is an issue that ultimately touches upon the decision-making process, organizational compliance, and customer trust.  Let’s consider the following:

For instance, consider a marketing team working on creating a marketing campaign that was based on customer information that might have been entered incorrectly or not updated for several years. The result? Incorrect targeting, resource expenditure, and perhaps the antagonizing of clients. It therefore underlines the significance of sound data—a factor that is relevant both in making decisions and in customer relations.

Key Elements of Data Quality:

Accuracy: The data used should be accurate and depict the true worth and facts.

Completeness: All necessary data should be included without any gaps, i.e., all important data must be there with no breaks in between.

Consistency: Data should not only be uniform with all the systems and reports of the company, but also the format used should be uniform.

Timeliness: Data should be in real-time, and this data should be accessible whenever it is required.

Validity: The attributes should be of the right format and within the right range.

To Know More, Read Full Article @ https://ai-techpark.com/data-quality-and-data-lineage-elevate-trust-and-reliability/

Related Articles -

Intelligent Applications Are No option

Intersection of Quantum Computing and Drug Discovery

Trending Category - Clinical Intelligence/Clinical Efficiency

Data lineage tools are sophisticated software designed for complete data management within the organizational context. These tools’ primary role is to systematically record and illustrate the course of data elements from their source through various stages of processing and modification, ultimately reaching the pinnacle in their consumption or storage. They can help your organization to understand and manage data. However, currently, you will find a lot of data lineage tool alternatives out there, but no worries, as AITech Park has narrowed down the best option for your company that will help you this year.

Collibra

Collibra is a complete data governance platform that incorporates data lineage tracking, data cataloging, and other features to assist organizations in managing and using their data assets more effectively. The platform features a user-friendly interface that can be easily integrated into other data tools, aiding data professionals to describe the structure of data from various sources and formats. Collibra provides companies with a free trial, but the pricing depends on the needs of your company.

Gudu SQLFlow

Gudu SQLFlow is one of the best data lineage analysis tools. It interprets SQL script files, obtains data lineage, conducts visual display, and permits users to provide data lineage in CSV format and conduct visual display. SQLFlow delivers a visual representation of the overall flow of data across databases, ETL, business intelligence, cloud, and Hadoop environments by parsing SQL scripts and stored procedures. Gudu SQLFlow offers a few pricing options for data lineage visualization, including a basic account, a premium account ($49 per month), and an on-premise version ($500 per month).

Alation

The third one on our list is Alation, which is a data catalog that helps data professionals find, understand, and govern all enterprise data in a single. The tool uses ML to index and make new data sources such as relational databases, cloud data lakes, and file systems. With Alation, data can easily be democratized, which gives quick access alongside metadata to guide compliant, intelligent data usage with vital context. However, the plan and pricing are not revealed by Alation, as it depends on the needs of your company.

Choosing the correct data lineage tool requires assessing all factors that are well aligned with your company’s data management objectives. Therefore, before opting for any tool from the above list, consider taking data from diverse sources, formats, and complexity and creating a data governance framework, policies, and roles that eventually help in making informed decisions.

To Know More, Read Full Article @ https://ai-techpark.com/5-best-data-lineage-tools-2024/

Related Articles -

Five Best Data Privacy Certification Programs

Rise of Deepfake Technology

Trending Category - Mental Health Diagnostics/ Meditation Apps

As organizations continue doubling their reliance on data, the question of having credible data becomes more and more important. However, with the increase in volume and variety of the data, high quality and keeping track of where the data is coming from and how it is being transformed become essential for building credibility with the data. This blog is about data quality and data lineage and how both concepts contribute to the creation of a rock-solid foundation of trust and reliability in any organization.

The Importance of Data Quality

Assurance of data quality is the foundation of any data-oriented approach. Advanced information’reflects realities of the environment accurately, comprehensively, and without contradiction and delays.’ It makes it possible for decisions that are made on the basis of this data to be accurate and reliable. However, the use of inaccurate data leads to mistakes, unwise decisions to be made, and also demoralization of stakeholders.

Accuracy:

Accuracy, as pertains to data definition, means the extent to which the data measured is actually representative of the entities that it describes or the conditions it quantifies. Accuracy in numbers reduces the margin of error in the results of analysis and conclusions made.

Completeness:

Accurate data provides all important information requisite in order to arrive at the right decisions. Missing information can leave one uninformed, thus leading to the wrong conclusions.

Consistency:

It makes data consistent within the different systems and databases within an organization. Conflicting information is always confusing and may not allow an accurate assessment of a given situation to be made.

Timeliness:

Data is real-time; hence, decisions made reflect on the current position of the firm and the changes that are occurring within it.

When data is being treated as an important company asset, it becomes crucial to maintain the quality of the data and to know its origin in order to build its credibility. Companies that follow data quality and lineage will be in a better position to take the right decisions, follow the rules and regulations set for them, and be in a better position compared to their competitors. If adopted in their data management process, these practices can help organizations realize the full value of their data, encompassing certainty and dependability central to organizational success.

To Know More, Read Full Article @ https://ai-techpark.com/data-quality-and-data-lineage/

Related Articles -

Intelligent Applications Are No option

Intersection of Quantum Computing and Drug Discovery

Trending Category -  IOT Wearables & Devices

Explore how Lakehouse Architecture has evolved, merging the best of data lakes and warehouses into one game-changing solution!

It must be noted that the existence of lakehouse architectures has brought some substantial changes in the data architecture landscape. In this evolution process, organizations are still struggling on how to handle complex and diverse data management, to which the answer is the lakehouse model. Lakehouses can be viewed as a better integration of data lakes and data warehouses to provide improved data management systems. This blog post delves into the further evolution of lakehouse architecture and explains its main concepts, recent developments, and transformation of today’s data management.

Historical context and core principles

Before understanding the progression of architectural styles of the lakehouse, it is crucial to look at the basic components of the concept. Earlier, companies used data warehouses for structured data processing and analysis. Data warehouses offered strong and well-developed SQLQuery, transactional, and near real-time query processing for complicated queries. However, it became a drawback when attempting to work with different and more complex types of data that are incompatible with the one-dimensional, rigid structure of a regular list.

On the other hand, data lakes are a concept that appeared as a result of these limitations, allowing managing raw and unstructured information in a big data environment. Data lakes allowed for accepting and storing data in various formats from different sources; however, they did not offer the usage of atomicity, consistency, isolation, and durability (ACID) transactions and performance improvements typical for data warehouses.

Consequently, the architecture of the lakehouse strived to combine these two paradigms into an integrated system that would represent the advantages of both. To summarize, lakehouses are the next step in data organization with their combination of data lake scalability and flexibility and data warehouse performance and control.

Key Advancements in Lakehouse Architecture

Unified Storage and Compute Layer:

The lakehouse architecture brings in a simplified storage and compute layer in their architectural design, thus minimizing the level of complexity. This layer enables organizations to archive data while fulfilling many types of data processing duties, from batch to real-time. The decoupling of compute and storage resources is a great improvement in regards to scale efficiency.

The concept of lakehouse architecture is one of the most significant steps toward improving data handling processes. Lakehouses, on the other hand, offer a combined approach to data lakes and data warehouses that improves scalability, performance, and governance. When employing this innovative architecture, organizations prepare themselves to get the most out of the gathered data, to foster analysis and creativity in a world headed towards a higher dependency on data and information.

To Know More, Read Full Article @ https://ai-techpark.com/the-evolution-of-lakehouse-architecture/

Related Articles -

AI-Powered Wearables in Healthcare sector

Top Five Data Governance Tools for 2024

Trending Category - Mobile Fitness/Health Apps/ Fitness wearables

Azra AI, a healthtech leader harnessing artificial intelligence (AI) and workflow automation to accelerate the identification and treatment of cancer, today announced a strategic partnership with Registry Partners, a premier provider of healthcare data collection and registry management services. This collaboration aims to transform oncology data management and optimize Cancer Registry operations by integrating cutting-edge technology with expert human services.

The U.S. healthcare system is facing a critical shortage of Oncology Data Specialists, essential professionals responsible for abstracting, managing and interpreting complex cancer data. This shortage is creating significant challenges for oncology departments, leading to backlogs in data processing, delays in patient care, and potential risks to accreditation for many cancer programs. The collaboration between Azra AI and Registry Partners addresses this urgent issue by leveraging advanced AI technology and experienced contracting services to fill the gap, ensuring timely and accurate data management and ultimately enhancing the overall quality of cancer care.

Streamlining Oncology Data Workflows

This partnership combines Azra AI’s advanced data science models and oncology workflow automations with Registry Partners’ comprehensive registry management and consulting services. Azra AI’s technology can help to eliminate manual work for Oncology Data Specialists by capturing cancer data, aggregating that data in real-time, collecting the data in the right format, and pre-populating the required fields in the oncology data management software. Afterward, Registry Partners’ human experts can review the data inputs and ensure that the automated data is entered correctly for submission to state and federal registries.

Read Full News @ https://ai-techpark.com/azra-ai-announces-strategic-partnership-with-registry-partners/

Related Article - celebrating women's contribution to the IT industry

In the context of the increasing prominence of decisions based on big data, companies are perpetually looking for the best approaches to effectively utilize their data resources truly. Introduce the idea of Unified Data Fabric (UDF), a new and exciting proposition that provides a unified view of data and the surrounding ecosystem. In this blog, we will uncover what UDF is, its advantages and thinking why it is set out to transform the way companies work with data.

What is Unified Data Fabric?

A Unified Data Fabric or Datalayer can be described as a highest form of data topology where different types of data are consolidated. It is an abstract view of the data accessible across all environment – on-premises, in the Cloud, on the Edge. Therefore, organizations are able to better leverage data and not micromanage the issues of integration and compatibility by abstracting over the underlying complexity through UDF.

The Need for UDF in Modern Enterprises

Today, elite business organizations are more involved in managing massive data from multiple fronts ranging from social media platforms to IoT, transactions, and others. Recent data management architectures have had difficulties in capturing and managing such data in terms of volume, variety, and velocity. Here’s where UDF steps in:

Seamless Integration: UDF complements the original set up by removing the barriers that create organizational and structural data separation.

Scalability: This makes it easy for UDF to expand with data as organizations carry out their activities without performance hitches.

Agility: It also enables an organization reposition itself rapidly when it comes to the data environment of an organization, hence it becomes easier to integrate new data sources or other analytical tools.

Unified Data Fabric for Seamless Data Access and Management

In the context of algorithmization of management and analytics-based decision making, more often than not, companies and enterprises are in a constant search for ways to maximize the value of their data. Introduce the idea of a Unified Data Fabric (UDF) – a relatively new idea that could help in achieving consistent and integrated data processing across various platforms. Let’s dive a bit deeper on understanding what is UDF, what it can bring to businesses, and why it will redefine data processing.

UDF is likely to be more significant as organizations proceed with the integration of advanced technology. The usefulness of being able to present and manipulate data as easily as possible will be a major force behind getting data back into dynamic uses whereby businesses can adapt to change and remain competitive in the market.

To Know More, Read Full Article @ https://ai-techpark.com/unified-data-fabric-for-data-access-and-management/

Related Articles -

AI in Drug Discovery and Material Science

Top Five Best AI Coding Assistant Tools

Trending Category - Mental Health Diagnostics/ Meditation Apps