World Data Summit

If data is the new oil, then networking is the pipeline that links senior-level #Data & #Analytics professionals from around the world, enabling collaboration and insight. Join your peers at the next World Data Summit to explore the latest trends in #datagovernance. Find out more and register here: https://lnkd.in/g5Rwv5r #worlddatasummit #dataanalytics #dataengineering #datamangement #datascience #customeranalytics #dataartchitecture

#Predictiveanalytics is a #dataanalysis technique that helps businesses forecast future growth opportunities and pain points. Here’s how predictive analytics works: ✔️ 1. You collect historical and real-time #customerdata from sources like your ecommerce sales platform and customer relationship management system. ✔️ 2. #Machinelearning algorithms use data mining to identify relationships within the #data, and statistical algorithms uncover trends from these relationships. ✔️ 3. The analytics software makes forecasts based on these trends, fine-tuning the predictions over time as more data is collected. ✔️ 4. Businesses use predictions to make #datadriven decisions. Predictive analytics helps anticipate when to increase resources like customer service staff in order to deliver a seamless #customerexperience. Predictive analytics can also uncover trends in customer churn, allowing businesses to act proactively to retain at-risk customers. Predictive analytics relies on clean data. A challenge some e-commerce businesses might encounter is inconsistent data, which can result in inaccurate predictions. Implementing predictive analytics can be expensive for smaller businesses, requiring extensive technical expertise. There is also a risk of over-reliance on algorithms that fail to account for market trends, unexpected events or nuances in customer preferences. https://lnkd.in/ddCC8N3s #worlddatasummit #datamanagement #dataengineering #datacollection #AI #datascience #customeranalytics #dataanalytics #datagovernance

The recent unintended disclosure of full NRIC numbers on the Bizfile portal has highlighted the fine line between corporate transparency and citizen #datasecurity. Both ACRA Chief Executive Huey Min and Minister Indranee Rajah addressed public concerns, outlining the Government’s strategy to enhance #datasafety while maintaining access to essential corporate information. The incident underscores the importance of Singapore’s broader #datadriven governance strategy, which aims to balance #data transparency with citizen privacy. Singapore leverages tools such as the Smart Nation Sensor Platform (SNSP) and the Whole-of-Government Application Analytics (WOGAA) to strengthen digital services: ☑️ SNSP: Integrates nationwide sensors to provide real-time insights for urban planning and smarter city solutions. ☑️ WOGAA: Monitors and evaluates the performance of government digital platforms, ensuring responsiveness to public needs. These initiatives demonstrate Singapore’s focus on improving digital services while safeguarding #dataintegrity. https://lnkd.in/dZCXvC7F #worlddatasummit #dataanalysis #datacollection #datascience #ML #AI #bigdata #dataanalytics #dataprotection #dataprivacy #dataarchitecture

Thousands of Postman workspaces leaked sensitive #data like #API keys and tokens. A leaked API key or access token can provide attackers with direct access to critical systems and data, potentially leading to #databreaches, unauthorized system access, and increased #phishing and #socialengineering attacks. To ensure #datasafety, organizations should use environment variables wisely, limit permissions, avoid long-lived tokens, use external secrets management, and double-check before sharing any collection or environment. https://lnkd.in/eyu5nZ6g #worlddatasummit #datamanagement #dataengineering #datacollection #AI #datascience #datasecurity #dataanalytics #dataprivacy #dataquality

The UK's Information Commissioner's Office has warned that many adults don't know how to wipe their old devices, and a worrying number of young people just don't care. Clearing #personaldata off an old device is an important step before ditching it or handing it on to another user. However, almost three in ten (29 percent) of adults don't know how to remove the information, according to a survey of 2,170 members of the UK public. Seventy-one percent agreed that wiping a device was important, but almost a quarter (24 percent) reckoned it was too arduous. This means that the drawer of dusty devices is set to swell – three-quarters of respondents reported hanging on to at least one old device, and a fifth did so because they were worried about their personal information. More than one in five (21 percent) of young people in the survey didn't think it was important to wipe personal data, while 23 percent said they didn't care about what might happen to that data. Fourteen percent of people aged 18-34 said they wouldn't bother wiping their devices at all, compared to just 4 percent of people over 55. On the plus side, the majority (84 percent) of respondents said they would ensure #data was erased before disposing of a device. https://lnkd.in/dSsdZHWS #worlddatasummit #dataintelligence #datacollection #datascience #AI #bigdata #datasecurity #dataanalytics #dataprivacy #dataquality

With outdated and inadequately maintained components, along with insecure dependencies, the #opensource ecosystem presents numerous risks that could expose organizations to threats. In this article, you will find excerpts from 2024 open-source security reports that can help your organization strengthen its #softwaresecurity practices: https://lnkd.in/dfeuc85Z #worlddatasummit #datagovernance #datamanagement #datasecurity #dataanalytics #datascience #bigdata #dataquality #datacollection #AI

#Dataprotection is the foremost priority for #cybersecurity, with 57% of experts highlighting its importance in safeguarding valuable SAP information amidst increasing #cyberthreats. Human errors are a significant vulnerability in cybersecurity; 96% of hacks begin with phishing attacks targeting employees, indicating the need for robust security awareness training and employee education. To enhance #datasecurity, organizations should establish strong connections between cybersecurity initiatives and company leadership, engage external auditors for unbiased assessments, and prioritize employee knowledge to prevent #cyberattacks. https://lnkd.in/dqHPn9Kh #worlddatasummit #dataanalytics #datagovernance #datamanagement #datascience #bigdata #dataprivacy #data #databreach #dataleak #AI

The EU's data protection agency has clarified in what circumstances developing #AI models may access #personaldata in an opinion which sets out a three-stage test for legitimate interest of such use. The opinion published this week by the European Data Protection Board - the coordination body for national privacy regulators across the EU - followed a request from the Irish Data Protection Authority in November, seeking clarification on whether personal data could be used in AI training without breaching EU law. Ireland's DPA acts as a watchdog for many of the largest US tech companies, headquartered in Dublin. The opinion outlines that for an AI model to be considered truly anonymous, the likelihood of identifying individuals through the data must be "insignificant". The EDPB also established a framework for determining when a company may consider it has a "legitimate interest" giving it a valid legal basis for processing personal data to develop and deploy AI models without obtaining explicit consent from individuals. The three-step test for assessing legitimate interest requires identifying the interest, evaluating whether processing is necessary to achieve it, and ensuring that the interest does not override the fundamental rights of individuals. The EDPB also stressed the importance of transparency, ensuring that individuals are informed about how their #data is being collected and used. The EDPB stressed in the opinion that ultimately it is the responsibility of national #dataprotection authorities to assess, on a case-by-case basis, whether #GDPR has been violated in the processing of personal data for AI development. Models developed with data extracted and processed illegally may not be deployed, the opinion states. Further guidelines are expected from the EDPB to address emerging issues, such as web scraping – the automated extraction of data from websites, including text, images, and links, to train AI models and enhance their capabilities. These additional clarifications will be crucial as AI development continues to rely heavily on vast amounts of data. https://lnkd.in/dS9nW5K9 #worlddatasummit #dataanalytics #datagovernance #datacollection #ML #datascience #bigdata #dataprivacy #datainnovation #dataethics #LLM

The Council and Parliament reached a provisional agreement to simplify certain reporting requirements in the field of financial services and investment support (better #datasharing). The new regulation will reduce administrative burden for authorities in the financial sector, by simplifying existing rules on data sharing between the European Supervisory authorities and other financial sector authorities and by limiting new reporting requirements. The provisional agreement specifies that the scope of information sharing would be limited to information stemming only from EU law. The national competent authorities will be involved in information sharing on a voluntary basis. Data sharing will function on the principle of ‘reporting once’, where public sector authorities would check whether the information is already available to other authorities before seeking information from financial institutions, except for time sensitive requests. The Council and Parliament agreed to include the Single Resolution Board, European Central Bank’s Single Supervisory Mechanism and the newly created Anti-Money Laundering and Countering the Financing of Terrorism Authority in the set of authorities that are in the scope of the new data sharing arrangement. https://lnkd.in/dmeA3Ym9 #worlddatasummit #dataanalytics #datagovernance #datainnovation #dataquality #data #datascience #businessanalytics #dataintelligence

The survey conducted between August and November 2024 across Australia and Singapore, gathered insights from over 160 marketing and advertising professionals to assess their brands’ data maturity and preparedness.  Although marketers’ overall responses showed a largely positive outlook towards #datamaturity practices, and capabilities, the survey’s broader responses highlighted a clear need for marketers to ramp up their data capabilities or risk impacting their marketing campaigns in the near future. The study also stressed the need for greater educational resources to help them innovate their strategies, explore new solutions, and navigate the complex #data ecosystem.  Despite staying updated on industry developments, many respondents remain unprepared for the challenges posed by signal loss, signaling an urgent need for action.  While 44% of Singapore marketers said they were confident about their strategies and abilities to manage the ever-changing developments, an almost equal number (40%) also said they struggled to keep up despite advancing their #datastrategies using tools at their disposal. https://lnkd.in/dyHZcfxT #worlddatasummit #dataanalytics #datacollection #dataengineering #AI #datagovernance #datascience #customeranalytics #dataartchitecture