BIG DATA
the opening price was almost in parity to Friday’s market close and the Monday trading settling at US$110.73, albeit with low volume. Therefore, very little significance was attached to the statement on Sunday 25th
by government sources or indeed
to Cameron’s curtailment of his treasured summer holiday with his family. It was only on Tuesday (with an opening of US$111.16 to the official previous day market close of $US110.73) that momentum started to pick up. The market returned from their break and David Cameron announced via Twitter that he wanted to recall Parliament. Brent finished the day on US$114.36 (3.3% gain). On Wednesday, the market tacitly accepted that military intervention
a dashboard of intelligence, may have helped to either stem losses or make gains. Taking things to the next level is cognitive
computing. In the words of IBM, a specialist in this field, “…cognitive computing systems are trained using artificial intelligence and machine learning algorithms to sense, predict, infer and, in some ways, think.” This may seem like science fiction, but it really does exist and is as applicable to Healthcare and Defence as it is to Trading. Think of computing that gets ‘smarter by design’. CEO Ginny Rometty of IBM’s Watson Business Group comments, “It [Watson] can find a needle in the haystack and knows the haystack. It understands
was going to take place and it closed on US$116.61 (with a high of US$ 117.34). This settlement value is the highest in this crisis period, representing a gain of US$5.88 (5.3%) since Monday 26th
August. It would be foolish to suggest that some players
in the market did not make substantial returns during this period. However, the numbers do show that although significant information was out in the public domain on both Sunday 25th
and ... commodity organisations can unlock
value from both external and internal data, structured and unstructured data
Monday 26th August, the market’s reaction was
slow. The factor of the public holiday on Monday was considerable, but it should not have been detrimental to trading organisations or indeed their client portfolios – after all, Brent is tradable 24/7. A good sentiment analysis engine, coupled with AI that helps to ‘join the dots’ and provide
52 March 2014
the implications of your questions.” IBM intends to commercialise this new era of cognitive computing. There are a lot of eyes on this one, especially the mind boggling target put on this new business unit to generate $1 billion in revenue by 2018. In order to capture and manage this information,
as well as processing it in real-time, there are now a raft of new database and analytical technologies in the market. They include Hadoop, NoSQL Databases such as MongoDB, TeraData, Apache HBase and Datastax, which offer more effective alternatives to the traditional database and file system; analytical
databases such as Vertica,
Teradata, Vectorwis; Business Intelligence (BI) tools such as QlikView, Tableau Software, IBM Cognos, SAP Business Objects and others. These help to provide some great visualisation techniques in representing this new and unstructured data. Predictive analytics is an extension to the BI tools, in that it predicts and extracts information from existing data sets in order to determine patterns and predict future outcomes and trends.
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