This week, we begin with an article describing the significant risks involved in sharing financial data as a result of the prevalence of open banking. Next, is a piece on new types & sources of alternative data that are driving extreme growth worldwide in every industry. Then, we have a statement about hacking of Russia’s Ministry of Construction, Housing and Utilities website but users’ personal data was not compromised. Following that, we have a story on the evolution of Web3 that solves the issue of data storage & privacy by giving control of data back to users. Next, is an analysis of the importance of picking up the right database platform based on the use case. Lastly, we have an essay discussing the cost of faulty & bad data to organizations and the use of data quality audits in solving the issue.
The Dark Side Of Financial Data Sharing
Cryptocurrencies are proving that technology makes it difficult for policymakers to find the balance between encouraging valuable financial innovations and regulating dangerous economic hype. Data-sharing applications that facilitate open banking are the latest examples of technological innovations that boast of valuable new competitive opportunities for financial institutions and their customers. But by now, policymakers should realize that cyberspace is a buyer-beware zone.
AI-Powered Alternative Data Driving Extreme Market Research Disruption, Ingenuity
Numerous indicators make clear that the next five years will usher in extreme transformation for a multitude of industries and sectors as well as the global economy at large. This begs the question: what is driving such significant and rapid change? This big question just might be answered in two words: alternative data. Companies that are slow to incorporate alternative data into their R&D, marketing, investment, risk analysis and other key processes expose themselves to extreme opportunity loss at best and operational peril at worst.
Russian Ministry Website Appears Hacked; RIA Reports Users Data Protected
The website of Russia’s Ministry of Construction, Housing and Utilities appeared to have been hacked, with an internet search for the site leading to a “Glory to Ukraine” sign in Ukrainian. Russia’s state news agency RIA late on Sunday quoted a ministry representative as saying that the site was down but users’ personal data were protected. RIA said that other media had reported that hackers were demanding a ransom to prevent the public disclosure of users’ data.
How The Privacy And Data Storage Features Of Web3 Can Empower Society
From Web1 to Web2, we’ve made great strides in decentralizing data, empowering users to create content and share it via websites. That’s where the buck stops, as users do not own and control their data. Moreover, since big tech companies run Web2 for the most part, users do not know what genuine privacy and ownership feel like. Web3 changes the game. It gives users access to an open, trustless and permissionless Internet, where they need to rely on these companies or compromise data ownership and privacy.
Real-time Data And Database Design: Why You Should Sweat The Small Stuff
Companies today rely on their data. Their applications create it, they analyze it to find more opportunities, and it powers the experiences that customers want. No business today is saying, “I wish I had less data.” Implementing the right database can make a huge difference to performance. This can involve knowing the right kind of database for your use case, as well as how the details of any deployment will affect performance over time.
Bad Data Costs U.S. Companies Trillions – How Data-Quality Audits Can Help
Companies today are more reliant on data than ever. But the smartest business plan, the most brilliant ad campaign, the most discerning sales projections aren’t worth anything if they’re based on bad data. When a company makes decisions based on inaccurate, incomplete, or inconsistent data, it doesn’t matter how finely tuned its business strategy is. You can’t build a great house on a bad foundation. Say a company is in the middle of a major computer-system upgrade: fancy new infrastructure, the latest data-analytics applications, all with the goal of becoming a data powerhouse.
Source: https://mailchi.mp/zigram/data-asset-weekly-dispatch_06_june_1
