Contact Us
×

Day: July 9, 2021

Why is Reference Data Management Important?

Posted on by Imarticus Learning

Companies have been looking for the various methods they can use to create more revenue, reduce costs and increase efficiency. In order to follow through with these goals, organizations are now making data management a streamlined process using MDM strategies (Master Data Management) to be able to provide consistency in the view of data across their business.

Master Data Management moves dissimilar, identical, and conflicting information out of the way, allowing space for simplified intelligence and improved business decisions.

However, a large number of companies tend to ignore a very important area in data management which is reference data management. They play a very important role in showing the true value of reference data. The management of information, such as a user inputting dates, their country, gender into the database, over a large company or business can be extremely complicated.

The general approach would be to use an application-by-application basis of maintaining the reference data. This can bring in a lack of consistency and cause difficulty in collecting data across various functions if done poorly, thus preventing us from getting a complete image of how healthy the business is.

Keeping all this in mind, we must understand that the right reference data management structure if used would only serve to build a company and further its growth by increasing efficiency, productivity and making them more reliable.

Advantages of Reference Data Management

  1. Empowerment of business users: To be of any value, the accessibility of data is key. An intuitive and easy to use interface is required to allow users to utilise reference data in a way that makes sense. Both power and business users should be encouraged to define, manage and have ownership of data models as well as the data that they hold from the same UI without being dependent on IT services.
  2. Simplification of compliance and reduction of risks: Companies, no matter the size, spend a large portion of their time reporting both internal compliances as well as external compliances. Reports provide a framework for boosting confidence and improving decision making when they are internal.Meanwhile, regulatory reports (external reports) for compliance don’t really improve the margin and can in turn be of financial risk to the organization. An approach which takes into account all of this produces accurate data exchange and entitlements. These tools allow accuracy in internal as well as external reports and largely decrease risks.
  3. Removing operational overheads and reducing costs: Companies can have tasks which overlap across the enterprise’s functions. Thus employees would need to automate the use of data from each source to be able to avoid the struggle of manually collecting data from various source points every time. Reference data management thus reduces costs and expenditures.

Why Reference Data Management Important and Where is it Put To Use?

Management of reference data can be a much more tedious task than meets the eyes. A cloud-based management system would reduce the struggle of reference data management by having the ability to consolidate, manage and distribute the data. AI and machine learning if incorporated in the process of reference data management would serve to strengthen and simplify the data sets.

It is being put to use in various places. They have been mentioned below.

1. Financial services:
Common issues faced in this sector are:

  • New securities
  • A large number of security masters are to be managed
  • Increase in assets
  • Presence of various identifiers used by front officers and mid-officers.

The advantages of reference data management are as follows:

  • Streamlining of value chains
  • Efficient risk management
  • Customer loyalty increased

2. Healthcare:
The advantages of reference data management are as follows:

  • Ensures maximum reimbursement
  • Betters the patient’s experience
  • Creates a cost-effective environment and saves time
  • Supports the improvement in reporting

What are the Benefits of Studying Banking and Finance?

Posted on by Imarticus Learning

What are the benefits of studying Banking and Finance?

The banking and finance industry has always been a growing field given its vital economic significance. It has continuously evolved to meet the needs of the modern capitalist economy. The traditional banking systems have been replaced with more sophisticated digital ones to meet the needs of 21st-century customers.

First, and most importantly, the banking industry is so versatile that you have the options to choose which segment within the banking industry, you would be keen to pursue. It offers a fast-paced and continuously challenging career only to put your skillset to the test.

Secondly, through a professional banking course that is offered by various banking institutions, government-registered institutions, and private establishments, you open up a career opportunity to last a lifetime.

Banking and Finance is one such industry that will never be out of business and will continue to proliferate as more development-oriented activities are carried out in the economy.

Benefits of Studying Banking and Finance

One of the major benefits of studying banking and finance is the diverse range of career opportunities that are there. You can choose from a range of job roles as per your strength and skills and have a very rewarding career.

Another important benefit of studying banking and finance is that it offers a very pragmatic approach to learning things around us. You will learn skills that are practically applicable in most industries instead of just obtaining theoretical knowledge. It will help you understand how the economy and the world around us work.

The banking and finance courses help you to obtain a better level of qualification. The skills you will learn here will be in demand throughout. Also, it is important to note that the demand for banking and finance professionals is not just limited to the banking and finance industry.

You can also work with companies in different industries that require finance professionals to manage their finances and books of accounts. You can pick an industry of your liking and join a company as a finance professional.

The banking and finance job roles have a very lucrative remuneration and most of the job roles have incentives attached in addition to your salary. It makes it worth your time to build a career in the banking and finance-related segment.

In addition to this, most of the job roles in the banking and finance segment require you to interact with people inside and outside the company, this helps you build your professional network very rapidly.

Some of the reputed career options in the banking and finance segment such as the Investment banker or Wealth manager give you a special platform to connect and network with high-profile individuals and companies. You have access to crucial and confidential information which makes you stand out from the crowd. The same is the case with the role of a financial analyst or business analyst.

Let’s take a glimpse into how the career opportunities in the banking and finance segment differ and why you should go for it.

Fast-paced and Challenging Career Opportunity

If you want to grow fast in your career and are ready to accept challenging circumstances, you will love the job roles that the banking and finance industry has to offer. The market keeps on fluctuating and so do the daily requirements when you are working for companies in the banking and finance industry.

If you are working as a trader or an investment banker you will require to work 70-80 hours a week but your efforts will be equally rewarded and your remuneration will be much more than the usual jobs.

Boost Your Long-Term Career Prospects

Starting your career with a job role in the banking and finance-related segment helps you boost your long-term career goals no matter what industry you want to join later. Having worked with a reputed bank or financial institution helps to amplify your resume and boost your chances of getting a job in any industry.

Also, it will be fairly easier for you to join other companies in the same domain and you will be highly rewarded for your experience at a reputed financial firm.

Requirements Life Cycle Management: The Basics

Posted on by Imarticus Learning

What is Requirements Life Cycle Management? This post will discuss how Requirements Life Cycle Management can help make your business run more smoothly. We’ll also explore how to become a business analyst after engineering!

Requirements life cycle management is the process of managing the needs and requirements of a project or system. It involves understanding how these requirements change over time and how they impact other areas to maintain an efficient workflow. This process helps companies minimize risk by ensuring that changes are made necessary to deliver products or services.

The business analyst has the primary responsibility within this stage, but their responsibilities will vary depending on what phase of the project they’re working on.

During the inception phase, business analysts help define how to meet customer needs with minimal cost and effort. During development, they work with stakeholders to ensure each requirement is clear and achievable. Finally, during deployment/implementation, they measure how well customers use new features as part of an audit process. Requirements might change because it’s more important to meet customer needs than stick with the original plan.

Business analysts courses may need engineering resources or input from other departments like marketing and finance during requirement development. For example, when a company wants to start an online shop to sell clothes instead of opening new stores in cities across America.

They’ll work closely with designers on how best to display clothing items and accessories without wasting precious screen space while making informed decisions about how much inventory can get carried away at any given time based on how many products are ordered each day.

How to become a business analyst after engineering?

Business analysts may come from various backgrounds, but typically, they have some business degree or other formal training in understanding the needs and goals of an organization that is either public or private. That stated it’s not unheard of for someone with experience as an engineer to transition into being a BA after their job ends because there has been so much demand for them over the years – make sure you know what you’re signing up for!

There are also plenty of opportunities for people with degrees in engineering (among many others) who want to become business analysts without switching careers altogether by taking on training programs like Business Analyst Certification Courses Online!

If you are looking for a business analyst course with placement, Imarticus is the best choice. They offer a comprehensive range of courses, including their popular Online Business Analyst Certification Course, which will help you learn the skills needed to become certified as a professional business analyst.

Their Business Analyst Certification programs are designed and delivered by experienced industry professionals who have seen it all before. They offer courses in both online and classroom formats to suit your needs and schedule.

With several years of experience delivering successful projects in various industries, they can help you become a top-notch professional at what you do – whether that’s project management or data analysis – fast! Are you ready to invest in yourself? Visit their website and find out which option suits your goals best.

What Is Content Marketing and How It Can Help to Build a Career in Digital Marketing?

Posted on by Imarticus Learning

Content marketing is a less invasive approach to reach and interact with customers when compared to traditional marketing. Content marketing aims to attract customers by providing informative, helpful, interesting, entertaining, and engaging content.

Content marketing is a strategic business and marketing process focused on creating, distributing, and measuring valuable, consistent, and relevant content to attract & retain a defined audience and ultimately drive profitable customer action.

Wondering how to explore a career in content marketing? This blog post explains all you need to know about content marketing and the skills required to make a career and all you need to know about online digital marketing courses!

What does a content marketer do?

Content creation:

Content creation entails the creation of well-defined content for the target audience. Before creating content, it is imperative to understand what the marketer wants readers to learn. Content goes hand in hand with SEO in this new digital age.

Content distribution:

Content distribution is vital to make the right content reach the right audience through the right platform. Content distribution is generally done through forums, social media channels, Q&A sites, etc.

Measurement:

Measuring and tracking are vital aspects is important. Consistent reports & constant tracking through analytic tools are vital to conclude future actions.

Skills needed to be a Content Marketer.

Research skills:

Creating a piece of content needs a certain level of knowledge that can only be acquired through research.

Writing skills and grammar:

Writing is the essence of the content. To thrive as a content marketer, be super comfortable with words. When writing for the web, possessing exceptional grammatical skills and vocabulary is not enough. It is vital to understand the target audience and needs, content, and tone of the brand. Being comfortable with different writing styles is a prerequisite.

SEO and other technical skills:

SEO is inevitable for web-writing. Optimizing content for search engines is essential. Some vital SEO factors include keyword research skills, relevant keywords, optimizing page title, meta-description optimization, optimizing images, etc. Organizations highly appreciate technical skills.

Design and creative skills:

As a content marketer, you may work with images and visual content such as infographics, data visualization, and creating/editing videos. Thus, it is vital to have a basic knowledge of design tools.

Project and content management skills:

A content marketer is responsible for looking after several things. For common operations like maintaining an editorial calendar, keeping up with social media posts, assigning tasks, managing blog, tracking relevant metrics, etc. Knowledge of project software tools is essential.

Content marketing as a career

Content marketing is one of the hottest & fastest-growing careers in the marketing and advertising space today. Employment opportunities for content marketers have outnumbered other openings in the marketing domain. These figures are going to expand further in the coming years.

The average salary of a content marketer in India is close to INR 5,42,000 per year. The salary range varies per the individual’s experience and background and can go up to INR 11,08,000 per year. While content creation entails creativity, a great content marketer utilizes creative content in a data-driven space.

Grow with Imarticus Learning

Individuals can boost their skill set in content marketing by taking up online courses. Imarticus Learning offers digital marketing courses that prepare students for a great career in content marketing. These courses add immense credibility to your profile.

The Digital Marketing course is designed to give extensive and detailed coverage of Digital Marketing concepts practically. The programs adopt a collaborative approach focusing on multiple capstone projects, job-ready skills, and guaranteed job interviews.

For more details on Digital Marketing Course Fees, contact us through the Live Chat Support system or visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Bengaluru Hyderabad, Delhi, Gurgaon, and Ahmedabad.

Advanced Data Science Skills to Stay Relevant in the Post-Pandemic World!

Posted on by Imarticus Learning

The need to upskill to meet the dynamic demands of a technology-first world has been around for the past few years; it has only become more urgent in the wake of the COVID19 pandemic. The emergence of new technologies such as Artificial Intelligence, machine learning and data science has set the tone for the future.

Data Science

In the post-COVID19 world, there are a few advanced data science skills that, when added to the toolkit of a data scientist, can make or break their career.

To ensure that your core competencies are strengthened as a data scientist, you can sign up for a comprehensive data science training course that explores the following:

 

#1: Geospatial Technologies

 With more people working on data-driven decision processes, geospatial data has helped better planning and processing of the system. This knowledge has proved invaluable in tracking the COVID19 outbreak all over the world; come the near future, geospatial technology will likely be extended to other research areas as well.

Data Science

A geospatial data scientist will need to sift through vast geographic and demographic datasets that hide gold nuggets of insight across diverse research topics.

 

 

#2: Natural Language Processing (NLP)

NLP gained traction even before the pandemic reared its ugly head. That said, it is only set to increase in importance and reach in a post-pandemic world. Natural Language Processing

Most organisations often implement self-service systems, such as bots that come with multi-language optimized NLP to help solve customer problems.

Data scientists of the future must understand NLP and master it enough to help companies develop automated solutions for a better post-COVID outcome.

#3: Computer Vision

Computer vision is an artificial intelligence field which trains computers to interpret and comprehend the visual world. It uses digital images from cameras and videos as well as deep learning models to recognise and distinguish objects correctly. With the help of algorithms, computer vision is also integrated to follow up with a programmed response. In current scenarios, computer vision has proved helpful in containing the outbreak and regulating quarantines and social distancing in cities across the world. In the future, where maintaining distance might become the norm, data scientists specializing in computer vision will automatically become more hire able.

#4: Data Storytelling

With data analytics becoming a prime concern for companies across industries, the need for good data storytelling has increased. The benefit of data analysis is not just in the evidence it provides but also in how it is made meaningful and impactful. Gripping storytelling makes it easier for non-data-scientist stakeholders to understand the value of the information and the possibilities it poses.

Data presented as contextual stories, rather than isolated data points, makes individuals more likely to understand the impact, decipher patterns and make more informed decisions.

In turn, as data storytelling would help business leaders with powerful insights, it would help them better prepare for the post-pandemic world’s opportunities.

 

#5: Explainable AI

Considering that AI has reached into nearly every area of human life, companies must be able to trust computers and their decisions. This is where the need for explainable AI emerges. Until now, companies build and sourced AI models that predicted accurate insights from large data dumps. In a post-pandemic world, they may well shift to models that also provide explanations for predictions. Explainable AI is a step forward in reducing the mistrust in non-human workflows. It makes AI systems more transparent and much fairer and all-inclusive than they were earlier.

Conclusion

Advanced data science skills are crucial to the cause of innovation and growth. Advanced upskilling is an integral step for data scientists looking to become more than relevant in the coming years.