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4 Ways Big Data Is Evolving Risk Management

In the digital era, Big Data has drastically changed the landscape of business and risk management. With unlimited access to information about potential customers and user behavior, companies are using analytics to improve their risk management practices in more advanced ways than ever before.

Big Data Analytics

Techwave's Big data analytics consulting services help you maximize revenue options and win loyal and happy customers.

Why Big Data Is Important

Big data has been around a long time, but it has taken a while for organizations to see the usefulness of big data. Big data doesn't just track the consumer when they are online - it provides a history of behaviors that big data services can analyze and extrapolate from. If the consumer uses smart devices, makes a purchase with credit cards or checks, or visits establishments that use smart devices, they leave a data trail that can be analyzed by big data consulting to determine possible trends. These trends help businesses understand what drives their customers to make certain purchases over others.

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Make Crucial Predictions as Data Comes

Flink: as fast as a squirrel

Walking by the hottest IT streets in these days means you've likely heard about achieving Streaming Machine Learning, i.e. moving AI towards streaming scenario and exploiting the real-time capabilities along with new Artificial Intelligence techniques. Moreover, you will also notice the lack of research related to this topic, despite the growing interest in it.

If we try to investigate it a little bit deeper then, we realize that a step is missing: nowadays, well-known streaming applications still don't get the concept of Model Serving properly, and industries still lean on lambda architecture in order to achieve the goal. Suppose a bank has a concrete frequently updated batch trained Machine Learning model (e.g. an optimized Gradient Descent applied to past buffer overflow attack attempts) and it wants to deploy the model directly to their own canary.