Your daily digest of “All Things Big Data” gathered, collected and researched by your very own 10Fold Big Data Practice team.
Forbes details PBS’s latest documentary, “The Human Face of Big Data,” about the collection and analysis of data to predict the onset of potentially deadly infection in premature babies. This collection and analysis of relevant data to this infection, titled Project Artemis, shows how data can lead to better outcomes, or in this case, even save lives. However, this potential can only be realized if we clearly establish what we want to learn from the data, and begin collecting more of it. However, the author points out that what the documentary doesn’t correctly explain is that “big data” doesn’t necessarily mean “best data,” pointing out the lack of diversity in the research shown in the documentary.
Big data solutions have become persuasive and transformational elements in the insurance industry. They have enabled insurers to leverage advanced analytics to distillate data, especially customer data, from a broader range of sources and extract more insightful and actionable information they can use to improve pricing, claims settlement, risk options and more customer-centric products. Insurers that take advantage of big data’s ability to effectively integrate disparate sources of customer information more effectively will create a learning engine. Alternately, as customers increasingly leverage multi-channels and devices to access their information, insurers must quickly match them to a product and be prepared to manage all regulations accordingly. Insurers who can embrace regulatory challenges and implement effective strategies to interpret the growing amount of customer data available will stand to gain a significant competitive advantage.
Nokia Growth Partners has just announced a new $350 million fund focused on IoT — and sponsored exclusively by Nokia. The fund will primarily invest in promising companies surrounding the Connected Enterprise, Consumer Solutions, Connected Car and Digital Health, and will also enable technologies with a focus on capabilities in big data and analytics. Nokia’s focus will be on driving new opportunities via IoT in a collaborative and open way.
Singtel and Ericsson are also embracing an IoT initiative, announcing their collaboration on enabling Singtel’s 4G network for the IoT, including a trial of narrowband IoT technology during the latter half of 2016. Instead of using cellular networks for the IoT, narrowband low-power, long-range, wide-area networks that use available, unlicensed radio spectrum could allow for extended coverage and less complex devices with higher battery life, meaning more connected devices overall. According to Ericsson, 28 billion connected devices are expected by 2021. Such devices requiring long battery lives and better coverage include temperature, air quality, and flood water sensors – all which are focuses within the new collaboration.
The Open Connectivity Foundation (OCF), a new, non-profit foundation dedicated to creating open standards for the IoT, says its main goal is to “help unify IoT standards so that companies and developers can create IoT solutions and devices that work seamlessly together.” OCF is fronted by big-name tech companies including Cisco, Intel, Microsoft and Samsung. The foundation is an expansion and a rebranding of a previous non-profit foundation that sought to achieve the same goal – the Open Internet Consortium – but its new guise covers more markets and so has a greater chance of gaining broad acceptance for whatever it develops. The OCF hopes to have certified products on the market by the end of the year.
Alibaba-backed digital payments and eCommerce company, Paytm, could soon permeate the luxury space by launching an online and mobile ecommerce platform exclusively for luxury products. The company has roped in marquee luxury brands like Gucci, Fendi, Furla and Burberry for its mobile luxury platform Anasa, and is courting more brands. Sources said Paytm is referring to Anasa as a first-of-its-kind luxury mall on mobile which can provide “the right environment and market positioning to showcase luxury brands” to high net-worth individuals, or HNIs.
Software Defined Networking
Today Nokia announced its plan to acquire Canadian security company Nakina Systems. Financial terms of the deal were not disclosed. Nokia plans to use Nakina to support customers facing security threats from mobile broadband expansion, software-defined networks, cloud services and the Internet of Things. Nokia also intends to use Nakina’s technology to add identity access, configuration management and orchestration services to its security portfolio.