Executive Bytes

12.12.2022 Executive Data Bytes – Is a hack-free world only a dream?

December 12, 2022

As data and devices proliferate, cybersecurity’s future in 2031 holds more prevalent data breaches. The exponential growth of cloud services poses a risk of exposing data. Artificial Intelligence (AI) is set to become crucial, possibly even mandatory, in some industries. Tyler Cohen Wood predicts the potential disappearance of the cloud by 2031. Despite advancements, traditional password-based attacks will persist.

Cybersecurity is a relentless race as technology investments grow, and adversaries become more sophisticated. McKinsey highlights three current cybersecurity trends: digital disruption’s impact on cyber risks, the data explosion and its influence on web-hosting services, and the use of advanced tools like AI in cyber attacks. The talent shortage in cybersecurity adds to the challenge.

2022 witnessed high-profile data breaches, and 2023 is expected to bring a volatile mix of cyber threats. Growing connectivity has fueled more sophisticated attacks using machine learning, AI, and analytics. Concerns arise over potential cyber-attacks on critical infrastructure, AI spending is set to surge, and trends like the Software Bill of Materials, 5G, Deep Fakes, low code, and quantum technologies will shape the cybersecurity landscape.

12.05.2022 Executive Data Bytes – Data storage – Where does all the data go?

December 5, 2022

Data storage plays a vital role in protecting and preserving a company’s proprietary information. It involves preserving files digitally on various storage media, from physical hard drives to cloud-based solutions. Two main categories of data storage, direct attached storage and network attached storage, offer unique advantages and are continuously evolving to meet businesses’ needs.

The location of company data storage matters significantly due to legal regulations and potential consequences of data loss. Data loss can be financially devastating, with many companies filing for bankruptcy after extended data loss. To stay in control of your data, robust security and backup systems are essential. Knowing where your corporate data is physically stored, such as in Switzerland or Singapore, can enhance data security.

Cloud storage allows data to be stored remotely rather than on local hard drives, enabling access from anywhere with internet connectivity. Numerous cloud storage systems, from small operations to massive warehouses, rely on multiple data servers for reliability. Security is a paramount concern in cloud storage, with encryption, authentication, and authorization measures in place to protect data from potential threats.

11.28.2022 Executive Data Bytes – Business struggles & Data Privacy – Who “owns”​ your data?

November 28, 2022

Data Ownership Dilemma: In a world where personal data proliferates uncontrollably, the question of who owns it becomes critical. This edition delves into the intricacies of data ownership, shedding light on how much control you really have over your own data.

Controlling Personal Data: Learn how data, although intangible, is inherently controllable. Discover how you can exert control by restricting access, compelling companies to delete data, and avoiding certain advertisers.

Privacy Regulations: Explore how regulations like the EU’s General Data Protection Regulation and the California Consumer Privacy Act aim to restore privacy rights to individuals. However, they may not necessarily guarantee data security.

Data Privacy for Businesses: Data privacy regulations aren’t just for large corporations. Small and mid-sized businesses also need to comply with evolving legislation like HIPAA and the California Privacy Rights Act. Understanding and adhering to these regulations is crucial.

The New Data Landscape: Witness the transformation of the data economy, where consumer mistrust, government intervention, and competition are reshaping the rules. Discover why businesses must adapt by reorganizing their data practices around consent, insight, and transparency.

Challenges for Established Companies: Established firms face challenges in adapting to this new era of data and trust. They grapple with internal tensions, legacy systems, and changing data-sharing agreements as they navigate the evolving data landscape.

11.21.2022 Executive Data Bytes – Is all Big Data built the same?

November 21, 2022

Big Data Defined: Get a comprehensive understanding of Big Data, its significance, and how it transforms modern business operations. Discover how NoSQL databases enable the analysis of diverse data sources, leading to valuable insights and informed decisions.

Types of Big Data: The Internet age has ushered in an era of unfathomable data. Learn about the three key types of Big Data: structured, unstructured, and semi-structured. Dive into the process of extracting, transforming, and loading data and explore the challenges and opportunities each data type presents.

Driving Business Performance: Big Data is a cornerstone of modern business. Explore its characteristics and various types that play a pivotal role in analytics. Understand the ETL (Extract, Transform, Load) process, data subtypes, and the value extraction journey from data mining to insights.

Real-world Application: Discover how Big Data is practically applicable at all levels of analytics. Delve into the ETL process’s role in storing data in a data warehouse and its relevance in structured and unstructured data scenarios. Explore subtypes like social media, machine, event-triggered, and geospatial data, and their impact on driving business performance.

11.14.2022 Executive Data Bytes – The visual side of business analytics, delivering answers fast!

November 14, 2022

Growing Business Value Through Analytics: Uncover the importance of data-driven decision-making in organizations. Explore the challenges and opportunities in scaling analytics to extract value from data. Learn how data literacy and intuitive analytics empower employees to harness data effectively.

Tapping Data Visualization’s Business Value: Data visualization tools are essential, but are you maximizing their potential? Learn how these tools can transform data into actionable insights, benefiting various business aspects. Discover the industry’s growth fueled by the abundance of data and its potential applications.

Insights with Visual Analytics: In a fast-paced business landscape, data can be overwhelming. Explore how visual analytics simplifies complex data, aiding analytical reasoning. Understand its role in making big data accessible to the workforce and complementing traditional BI insights.

11.07.2022 Executive Data Bytes – Hiring an in-house data scientist – Is it the road to perdition?

November 7, 2022

Introduction to Data Science Team: In this edition, we delve into the critical decision of building a data science team: in-house or outsourced. Discover the advantages and disadvantages of each approach to help you make an informed choice.

Building your Data Science Team: For many companies, in-house data science teams seem like the only option, but they might not be suitable for small and medium-sized businesses. Hiring a data scientist can be time-consuming and costly, whereas outsourcing allows you to kickstart your AI project quickly and adapt to changing needs.

Why you probably don’t need to hire a Data Scientist (yet): Hiring data scientists may not be the solution to all your data problems. The article emphasizes focusing on data infrastructure and decision-making before recruitment, clarifying the evolving responsibilities of data roles and the importance of defining your data-driven roadmap stage.

A Complete Guide to Data Science Outsourcing 2022: Explore the benefits and challenges of outsourcing data science work, including cost-effectiveness, efficiency, scalability, and access to expertise. Be cautious of potential pitfalls such as miscommunication, data security concerns, and resource control issues. Define key performance indicators (KPIs) to track progress when outsourcing data science projects.