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Day: 15 April 2020

How Blockchain Can Be Used to Change Space Industry

Posted on by Imarticus Learning

Blockchain technology is a decentralised technology, which is stable and flamboyant. There are millions of systems around the globe through which the information passes; still, it will be unmodified. One can see the information in blockchain technology but cannot alter it. A lot of digital payments are done through blockchain technology. Besides giving full transparency and stability, blockchain technology supports peer to peer sourcing.

It has high-security measures which are a combination of hash functions and other security protocols. In the context of the space industry, there is a lot of data generated. For continuous and unambiguous data, blockchain can be a boon. Let us dive deeper and understand the pros of blockchain in the space industry and exploration.

Emerging technologies like blockchain and decentralised data are making a lot sound in recent years, but the technology is still new to people hence its very hard to imagine any application of it in our life. There are many commonalities that tie blockchain and space. Blockchain describes a very different way of data storage. That is decentralised too, having a common database but more secure as blockchain uses cryptographic algorithms.

How Blockchain technology can be used in the Space Industry?

The cryptocurrency application of Blockchain is popular in the finance industry and other sectors. Blockchain is already in use for several years in the space industry. Some prominent applications in this context are:

Supply Chain Management
Keeping track of supplies in space is very important in space. Blockchain is used in man-aging big space construction projects and managing the resources for space exploration.

Satellites as nodes for better and secure communication
The satellite network can be used as a node in the chain of information where you can store as well as perform transitions. This allows the space sector to give an important contribution toward better and secure communication.

Space asset tokenization
Asset tokenization in space is not an easy task; it requires enabling a crypto token-based
ownership of space assets including spacecraft, satellite and potentially astronomical bodies such as asteroids.

Blockstream was launched in 2017, which became first-ever state lite to use blockchain technology. SpaceChain first used blockchain in space in 2018 that formed the base for the constellation of satellites to support the blockchain-based operating system.

Some major predictions of blockchain in the space industry are very intriguing as their development is happening at an accelerating rate. The investment for the space industry has gone down in last years but the introduction to new technologies like blockchain and others is going to change the face of the space industry. It will help a great deal in cost-cutting and other developments.

Space Giants SpaceX and Amazon, which has large investment are sending a large fleet of satellites which could increase the risk if collisions.

Commercialising Space Exploration using Blockchain

Commercialising space exploration will be far more efficient using revolutionary blockchain technology. The feature of tokenization of a spacecraft allow institutions to prepare different component of the spacecraft. Big Institutions like NASA and ESA take this
opportunity to obtain things efficiently with more clarity and origin.

SpaceX and other companies are working on commercialisation of space exploration for a very long time but it is not feasible the point of time. With all these progressive new technologies, new avenues are opening up every day.

Conclusion
Blockchain is a cutting edge technology which is changing the approach to work for many industries and the Space industry being one of them witnessing the same. With every advancement in space industry Blockchain is being used and it is cost-saving, accurate and secure for the space industry.

What Are the 6 Applications of Predictive Analytics in Business Intelligence?

Posted on by Imarticus Learning

Understanding Predictive Analytics

The data science discipline has gained huge popularity among corporations given its ability to decode insights from seemingly irrelevant pieces of daily information. Data analytics training is in high demand given the paucity of professionals in the field of data science. Predictive analytics can be understood as a highly advanced version of analytics that is being used to make predictions about unforeseen future events.

The predictive analytics process entails a range of statistical methods like data mining, machine learning, predictive modeling, etc. All these methods are applied to analyze historical and current data to make future predictions. Let’s jump over to some of the most prominent applications of the predictive analytics method in the field of business intelligence.

Audience Targeting 

With the advent of advanced analytics methods like predictive analytics, the marketing game has changed. Audience targeting is all about the personalization of marketing communication with the customer. Here a customer base is segregated into groups based on extensive factors other than the commonly used age, gender, occupation. These factors might include interest, likes, spending habits, transaction history, etc. This helps companies to customize their messaging as per the audience profile and predict those who are more likely to purchase the goods or services.

Risk Analysis

The risk analysis process is a complex one and it plays a huge role in the success of any business venture. It helps to analyze and predict the problems which might occur for a business based on a complex understanding of the variables that affect the business. Predictive analytics is used in this context to help build decision support systems that can help determine the profitability of any business operation. A possible application of this technique is in the banking sector for analyzing the credit risk of borrowers. The variables related to borrowers are factored in to derive conclusions.

Revenue Forecast

Sales forecasting is an important aspect of business intelligence. Any given corporation has to think about the revenue that it’ll generate in the near future. The sales forecast is a complex process involving a lot of variables that influence the sales figures. These variables might include seasonality, market events, macroeconomic factors, general industry trends, etc. Data mining techniques can help assess consumer preference and outlook after factoring in all these variables. The end goal is to predict the demand for a given product or service produced by a firm.

Churn Avoidance 

The cost of acquiring a new customer for any business is far greater than the cost of retaining an existing one. This is why churn prevention is important for enterprises. Churn prevention helps to analyse and predict when and why customers decide to switch to other brands and end their relationship with the company. The companies can maintain a proactive approach to retain their existing customer using predictive analytics by leveraging big customer data sets.

Financial Modelling

The main goal of financial modelling is to create a simplified model of the complex real-world financial landscape that will help to predict and assess the performance of various financial assets. These are mathematical models designed to represent the quantitative performance of financial assets in the near future. In simpler terms, it is all about converting the hypothesis and assumptions regarding the financial markets into numeric figures that represent performance.

Market Analysis

The 21st-century businesses are all about understanding the needs and wants of customers and providing adequate solutions in terms of products and services. It’s far from the traditional business approach of forcing a product or a service using rigorous marketing. Understanding consumer needs requires conducting surveys. Market analysis using surveys helps businesses to understand their customers better, this results in increased profitability and high customer retention.

The Difference Between E-Learning and Distance Learning!

Posted on by Imarticus Learning

People use lots of terms when it comes to new styles of learning. Nowadays, everybody talks about online learning, eLearning (electronic learning) and distance learning while considering education options. And every time they talk about these terms, there’s one confusion that whether they are the same or different.

Few people use these terms interchangeably with few similarities but each of these learning is unique having strategic although subtle differences. The features of these three types of learning that differentiate them from each other can be the type of access, media and of course, the interaction they include. What according to you is eLearning and distance learning? Let us put this up in simple words. You can say that eLearning is one of the styles of learning while distance learning is one of the methods of attending classes by not physically going for it.

Before we jump to discuss their differences in detail, you must know what these concepts are.

What is eLearning?

Learning that includes technology to help the learner can be known as eLearning. eLearning uses technology to enable people to learn anytime and anywhere. In the real world where people have occupations to do with limited budgets, the learning system that one uses should possess the power of technology to overcome the impediments of time, distance as well as resources.

You can use eLearning delivery methods for the very fact that people learn in a wide range of courses and at different times. It is a new way of learning that suits a lot of learners including, both school-aged and adult. Tutor James Anderson at the State of Writing says, “We use eLearning in order to connect with our students. They can connect with us online, and we can work with them to improve their writing skills”. Most people fail to understand that eLearning can happen anywhere, as far as you have a laptop/desktop.

What is Distance Learning?

When you want the data exchange should happen regardless of geologically isolated by time or distance, distance learning is at your rescue. Distance learning is often comprehended and used as a synonym for online learning. Online learning is considered as a form of distance learning, but a more feedback-oriented version of distance learning. Distance education begins with teaching through print media even before the internet. Distance learning is a concept that uses technology to bridge the gap of time and distance.

How are eLearning and Distance Learning different?

Both, eLearning and distance learning are capable of getting learners out of learning, irrespective of where they are. Even though these methods of learning are slightly different from each other, but can also overlap. As we discussed before, since eLearning is used in local settings, the distance is not considered as much of a factor.

It is helpful for adult learners as eLearning fits into most people’s busy schedules making it easier to access anytime and anywhere. The ease of access means more and more adults are undertaking online courses and classes, to learn the necessary skills. eLearning can be used when by including multiple formats and methods of instruction, like CD-ROM, the Intranet, the Internet and audio as well as video formats. While technology continues to evolve, e-Learning also keeps changing.

Distance learning, on the other hand, is designed in such a way that it is accessible from anywhere in the world. It is the solution to the issues of accessibility by using webcams or chat programs. Both eLearning and distance learning are fairly flexible. But in distance learning, you have to learn in a specific time frame, whereas in eLearning, the learner can go through the course at his/her pace. eLearning gives the learner a lot more freedom than distance learning. When one is learning online, he/she may or may not have a specific tutor to help but distance learning may provide a little less support in terms of receiving feedback or responses to your queries.

Can both happen at once?

If we say these two types of learning are not the same, does that mean that they are always separate? The answer is, that is not the case at all, because eLearning just refers to how the teaching is being delivered. As you can see, although there is a difference between eLearning and distance learning, there are no reasons to keep these two apart. As an educator, one uses both these types of learning together to create unique and engaging training courses.

Now that you know what distinguishes eLearning and distance learning, you need to consider the type of learning that suits you the most. Apart from this, you must also consider that how earning an alternative education could benefit you.