Contact Us
×

Author: Imarticus Learning

Data Science vs. Business Intelligence: Key Differences

Posted on by Imarticus Learning

It is impossible for the world to function without data. With time, data has become an inseparable part of life and every process related to data stands important. Business intelligence (BI) and data science are two processes focused on data but they are different in their approach to it. 

Generally, data science focuses on making predictions or forecasts about future trends. Whereas business intelligence makes efforts on analysing past events to evaluate what has generated positive results in the past and what has not proven to be in the organisation’s favour. Data science is much more technical when compared to business intelligence which is more of an abstract concept that involves few technicalities. 

Read on to do about data science and business intelligence and what are the distinctions between the two.

What is Data Science?

Data Science Course

Data science is a specific field of research that employs sophisticated tools, procedures, and vast volumes of data. It aids data scientists in finding, following, and extracting useful information from data patterns. Making important decisions in business and finance requires this kind of information.

The field of data science can be characterised as one that uses sophisticated analytics, statistics, and scientific principles to glean useful information and draw insightful conclusions from both structured and unstructured data. These in turn help in making corporate decisions, developing strategy, and other activities like financial planning.

What is Business Intelligence?

Business intelligence is the process of enhancing a company’s trends and decisions through the search, aggregation, and evaluation of the accumulated data stored by an organisation. Business intelligence is one of the most profound and innovative technical concepts of the 1990s.

Business intelligence makes it possible to make decisions involving data technology. Initially taking the form of organised consumer data, business intelligence eventually started to influence big organisations’ choices. Business intelligence presents consumer data in representational form such as graphs, charts, tables, etc.

Difference Between Data Science and Business Intelligence

Both data science and business intelligence help convert structured and unstructured data into readable information to enhance the decision-making process. The distinctions between data science and business intelligence can be enumerated as follows: 

 

Basis Data Science Business Intelligence
Data type Data science mostly deals with unstructured or semi-structured data which is in real time and distributed. Business intelligence deals with structured data which is sliced and divided into warehouses.
Complexity The degree of complexity is higher in data science. Business intelligence is simpler in nature and involves low complexity.
Role  Data science uses mathematical tools and statistics to identify and evaluate data patterns, analyse them and make predictions about future trends. Business intelligence focuses on organising datasets, taking out useful information and showcasing them in representative or visualised form such as dashboards, charts, graphs etc
Focus Data science mainly focuses on the future and makes forecasts regarding the same. Business intelligence focuses on past and present performance.
Usage Data science is used by companies to make close to accurate predictions about future situations in order to increase profit and mitigate risks. Business intelligence is used by companies to identify the cause of any failure or success in the past to make changes in the present, accordingly.
Skills required Data science is a more advanced field as it is a combination of subjects like mathematics, statistics, programming language and machine learning. Professionals in data science must possess the skill of data modelling. Business intelligence requires a lesser qualification as compared to data science. Business intelligence is more about reporting and presentation of data in a representative format that can be done through Excel sheets. 
Tools and software Data science professionals must possess insights into predictive algorithms and be equipped with knowledge of programming languages like R and Python. The knowledge tools required by business intelligence professionals are Tableau, Watson Analytics, QlikView etc. It focuses more on the concept of data visualisation and extraction.
Process The nature of data science processes is active and repetitive and there is a larger scope for experimentation. Business intelligence processes are static in nature with zero to little experimentation. 
Flexibility As data science is futuristic, it provides more flexibility to add or delete data sources as per requirement.  Business intelligence is less flexible as the data sources have to be calculated and planned beforehand. 
Method Data science methods are mostly scientific, analytical and technical. Business intelligence methods are always analytical.
Type of approach Data science takes a proactive approach.  Business intelligence relies upon the reactive approach.
Data size The technologies used in data science can hold large amounts of data, that is, terabyte size. Business intelligence technologies and tools are not equipped with the facility of holding large amounts of data. Hence, they are restricted to small datasets.
Business value The business value of data science is considered to be more when compared to business intelligence as it is focused on the future and makes predictions to make the organisation better. Comparatively, the business value of business intelligence is considered to be lower than data science As it is restricted to extracting data and representing them in the form of charts and graphs.
Expertise role An expert in data science is known as a data scientist. An expert in business intelligence is a business user. 
Consumption of information Data science information is consumed at multiple levels in an organisation which includes the executive level, managerial level, enterprise-level and so on. Business intelligence information is mainly consumed at the department level and the enterprise level in a company.

Conclusion

Although both data science and business intelligence have very different approaches towards data, both of them effectively work with them. Business intelligence is advantageous at the initial point of establishing an organisation whereas adding layers of data science in the later part can make it more functional and dynamic. Data science and business intelligence professionals are in high demand as no sector can work without data. 

If you want to get a grasp of the study of data science and business intelligence then the IIT data science course can be a perfect fit for you. The IIT data science course can always act as a support to uplift your career along with your academic degree. It can help you stand out among your contemporaries. To have a successful career in the said discipline, consider signing up for the Certificate Program in Data Science and Machine Learning, IIT Roorkee by Imarticus. 

How to Set Up a Digital Onboarding Process: A Step-by-Step Guide

Posted on by Imarticus Learning

The adoption of remote and hybrid working models by companies has reached 84% in 2023. The report states that this data shows a rise of over 30% from 2022’s data. This study indicates the growing preference for flexibility among employees. They look for the same flexibility when it comes to the onboarding process.

 

Corporate Training

New hires want to access learning material from anywhere and at any time. They also need a system that can help them by answering basic queries at all times. Moreover, they like to embrace their own speed when it comes to learning. The digital employee onboarding process meets all the demands that this generation of new employees has.

That is why digital onboarding is currently in trend. This article will provide a step-by-step guide to setting up a digital onboarding programme.

Understanding employee onboarding

An onboarding programme is a structured approach to welcoming new hires to the team and getting them productive. During the training, new employees learn about the company, its culture, their teams and organisational processes. They also gain the knowledge and learn the skills and tools required to perform their job.

A step-by-step guide to creating a successful digital onboarding programme 

  1. Start with a plan

Whether the company is new to an onboarding programme of any sort or they have a traditional onboarding programme in place, it’s crucial to have a plan. If the organisation already has an onboard programme, learn the challenges with digital onboarding and look for areas of improvement. And, in case they are starting onboarding for the first time, they should prepare a list of goals and outcomes they would like to see.

  1. Deliver engaging content

Provide engaging video content, podcasts, interactive quizzes etc. Avoid boring content that doesn’t achieve the goals set out by the company. Add a gamification element to make it more enjoyable and engaging.

  1. Talk about the company and culture

The employees’ values must align with that of the company. If the employee is working remotely, they don’t have the chance to be in the office and experience it. Make sure they know the vision and mission of the company.

  1. Ensure they have all the required tools

Before the new employee commences, make sure they have all the required equipment and software delivered. Also, ensure they are added to relevant communication channels so that they don’t miss out on any important information.

  1. Encourage new hires to network

Having a mentor is crucial in making the new hires feel comfortable. This individual will be their go-to person to approach with doubts and concerns. Establishing a network of new hires and encouraging them to interact with each other will also help in building healthy work relationships.

  1. Foster a sense of belonging 

Apart from the team meetings and projects, have peer-to-peer interactive sessions with the team. Since it’s remote working, employees can easily forget names and faces. Create an online organisational chart with pictures, names, positions and contact details of each member. This will make them feel valued.

  1. Provide job-specific training

By creating job-specific training modules, the company can show employees what exactly they expect them to do. Send video training content for them to learn via pop-ups. Set milestones and test their knowledge using quizzes.

  1. Check in and get feedback

Schedule one-to-one chats regularly and ensure they feel comfortable. Answer their concerns and doubts. Then, ask about their likes and dislikes concerning the programme. Use this information to improve the programme.

Final reflections on digital onboarding

Employee onboarding is much more than just training individuals for a new job. When done right, businesses will be rewarded with loyal and dedicated employees equipped with the right skills. Additionally, an effective employee onboarding process will help in building company culture.

To learn more about digital onboarding processes, visit Imarticus Learning.

Why is Linux Essential for Cybersecurity Professionals?

Posted on by Imarticus Learning

How Does Linux Apply to Cybersecurity?

Linux has cemented its place as an essential tool for cybersecurity professionals with its customisable and secure operating system management. It also helps in managing and securing servers, networks, and devices. 

cybersecurity courses

Linux offers various tools and methods to identify and mitigate security risks. Some of the useful tools are encryptions, firewalls, and intrusion detection systems.

Furthermore, Linux’s command-line interface and shell scripting helps turn it into a solid tool for ethical hacking, managing and automating complex operations and security tasks.

Why do companies use Linux?

Cost-effective: Linux is available to download for free or comes at a lower cost than other copyrighted operating systems. This ease of availability helps make Linux an attractive option for companies on a tight budget.

Open-source: Linux’s open-source model allows anyone to use, change and distribute its source code. It helps companies adapt and customise the operating system for their specific needs.

Security: Linux is famous for its features and has built-in firewalls, user control accounts, and file encryption. These features make Linux a popular choice for businesses focusing on data security.

Compatibility: Linux has a growing demand in the market thanks to its compatibility. It allows you to run it on a wide range of hardware and software.

Stability: Linux is globally famous for its stability and reliability in day-to-day tasks. It makes Linux a versatile option for companies that have diverse I.T. environments.

Community support: The Linux community is supportive and active toward learners. The community helps new users find resources to help customise and troubleshoot their problems. It can be an invaluable asset for businesses that rely on the Linux O.S.

Why should you learn how to use Linux?

Linux is safer than the majority of current operating systems because:

Strong Security

There is an abundance of Linux distributions, and new ones are introduced, with some of the most popular being Ubuntu, Debian, and CentOS. 

Due to the regular updates, Linux is considered a moving target, making it difficult for virus creators to target the entire system.

Linux operates under the principle that users have exclusive access to their applications and data. Users can use programs once an administrator installs and configures them.

When you consider how often standalone settings use, Linux is not the most used operating system. Virus creators target operating systems with large user bases because they are easier targets.

Low Cost

Linux provides a significant advantage due to its open-source and available kernel. It is covered by the GNU GPL, which allows for complete customisation per the user’s needs. 

Linux comes in various downloadable distributions. Users can download a functional version of the Linux kernel with several add-ons for free. 

But, some distributions, such as Red Hat Enterprise and Ubuntu, offer paid services for add-ons that are not free.

Great Terminal Support

Programmers can connect to backend servers for their projects using add-on software in Linux without installing any specific software. 

The Secure Shell (S.S.H.) tool provides a secure way to access the server. Updating configuration files or hosted Python scripts can be done using editors like Emacs, Nano, and Vim. 

Linux’s benefits allow programmers to spend more time building and testing code than struggling with complex workflows.

Great Scalability

Scalability is a must-have feature to meet practical software requirements, and Linux offers it in various ways:

  • Linux is versatile as it supports diverse platforms, making it difficult to find a gadget that it won’t work on. It can be scaled to fit any device, from everyday robots to commercial computers.
  • Its small size makes it possible to use on devices with almost any capabilities.
  • Linux is capable of handling heavy loads without getting bogged down.
  • It utilises system resources only when running the program, making it resource-efficient.

Outstanding Server Support

Due to Linux’s reputation as a server operating system, programmers often prioritise developing programs that function in a server environment. It implies that Linux-based applications often provide optimal speed, security, and reliability. 

Linux’s appeal stems from its low-maintenance nature and ability to remain inconspicuous. As a result, various industries use Linux as a workstation operating system.

The Security Benefits Of Linux For Cybersecurity Professionals

Due to its open-source nature and security capabilities, Linux has become popular as a platform for cybersecurity experts. It is suitable for cybersecurity since it offers an easily-tailored encrypted system for the user’s needs. 

Its code is open source, making it one of the most secure operating systems accessible and allowing users to check for flaws and backdoors. 

Cybersecurity professionals utilise Linux to build secure networks and systems. Professionals also use Linux to safeguard their clients’ privacy and data. In actuality, it is a valuable tool for individuals in the cybersecurity sector.

Critical Areas of Linux for Cybersecurity Professionals

Linux is a popular operating system for cybersecurity professionals due to its robust security features, versatility, and open-source nature. 

Here are some critical areas of Linux that are essential for cybersecurity professionals:

Command Line Interface (CLI)

Linux uses a command-line interface (CLI) that provides a text-based approach to interfacing with the operating system. 

Cybersecurity experts rely on the CLI to undertake various tasks. Including system administration, network monitoring, and vulnerability scanning. 

Mastering the CLI is crucial for professionals as it empowers them to manage Linux systems with the greatest efficacy.

Security Tools

Linux comes with an extensive suite of security tools invaluable in cybersecurity. Among these tools are intrusion detection systems (I.D.S.), network scanners, vulnerability assessment tools, packet sniffers, and many others. 

It is important for professionals to have a deep understanding of these tools. Knowing how to utilise them to identify and counter potential threats is equally important.

File System Security

Linux offers several tools for fortifying the file system, including file encryption, access control lists (A.C.L.s), and permissions. 

Cybersecurity experts must have the knowledge to leverage these mechanisms in safeguarding confidential data and thwarting any attempts of unauthorised access.

Kernel Security

The foundation of the Linux operating system lies in its kernel. The kernel incorporates an array of security features like access control, memory protection, and process isolation. 

A deep understanding of kernel security is essential for cybersecurity professionals to safeguard the system against attacks that may undermine its integrity.

Virtualisation

Linux presents many virtualisation options, including containers and virtual machines. Professionals in the industry use these tools to test software and execute penetration testing. 

A firm grasp on configuring and overseeing virtualised environments is imperative for cybersecurity experts to excel in their roles.

Scripting

Linux offers scripting languages like Bash and Python that pack a punch in automating tasks. These tools are also useful in system administration, and security tool development. 

Possessing a skillset in scripting is crucial for cybersecurity experts when it comes to using the tools and streamlining repeated tasks.

Conclusion

Linux is essential for cybersecurity professionals due to its open-source nature, security capabilities, and flexibility in customisation. 

Its encrypted system and the ability to tailor it to specific needs make it a valuable tool for ethical hacking and building secure networks and systems. Furthermore, Linux’s popularity in cybersecurity makes it a valuable professional skill.

If you’re interested in pursuing a career in cybersecurity, consider enrolling in Imarticus Learning’s Post Graduate Program In Cybersecurity course to gain the skills and knowledge needed to succeed in this exciting field.

Visit Imarticus Learning to learn more.

What is the Difference Between Website Design and Website Development?

Posted on by Imarticus Learning

You will have to hire a web developer and designer as soon as you decide to create a website. However, did you know there are significant distinctions between web design and development? 

Website design and development are essential in creating websites, software platforms, and even the everyday applications used on smartphones and tablets.

best digital marketing course

Understanding the differences and similarities will help you comprehend how they work together and why they are essential for any modern web project.

In this writing, we will discuss the differences between website design and website development.

What is web design? 

Web designing is the organising, conceptualising, and planning process that results in a practical website that offers a satisfying user experience. 

The user experience is at the heart of website design. Various features are presented on websites that make them simple to navigate.

 To make a website user-friendly and efficient, it is necessary to work on every component that users interact with. This enables users to quickly find the information they require and looks visually appealing. 

Together, these elements determine how well a website is designed.

What do web designers do?

A website’s design and layout are put together by web designers using their technical skills and experience while remembering the client’s needs. 

They are skilled in using software for design to produce visual elements and have a proper understanding of UI and UX concepts. 

These professionals use their knowledge and talents to incorporate the company’s identity into the website’s design elements.

Visitors evaluate their engagement with a particular website based on its design and navigational ease. 

To get the attention of their visitors, web designers also pay attention to the website’s creative and aesthetic aspects and use various design concepts like symmetry, colour schemes, and dimensions. 

They also use computer languages to work on image and video placement, fonts, and layout creation.

What is web development? 

Web development is building a website or online application from the ground up. It may involve developing the user interface, designing the website, and adding efficiency. 

HTML, CSS, and JavaScript are just a few of the languages used for programming that web developers frequently use.

Anyone who wants to develop a website or web application needs to have web development skills. Due to the rising need for online services and goods, it’s also one of the abilities in the most demand right now. 

What does a web developer do?

A web developer builds the front end and back end of a website. They are also responsible for ensuring the website complies with all accessibility, technical, and design standards. 

They could also be in charge of modifying or modifying already-existing websites. Most web developers hold degrees in computer science or a closely related subject. 

HTML, CSS, and JavaScript are just a few programming languages they frequently use. In addition to building websites, web developers could also work on developing unique applications for the companies or organisations they’re associated with.

Difference between website development and website design 

The key difference between website development and website design are as follows:

Website development  Website design 
The structural design of websites and writing the code that makes them work are frequently the main goals of web development. Graphics and logos are typical aesthetic elements used in web design. 
Software engineers proficient in writing original code are typically the ones who build websites. Generally, talented designers proficient in Photoshop and other graphic programmes create websites.
Web developers check a concept’s viability from a financial and technological viewpoint before moving on to the next level of website coding. By constructing a mockup based on visual, UX, and UI concepts, web designers create the aesthetic and concept of a website.
These are in charge of switching those designs into functioning websites. To construct a website’s layout and functionality, developers employ web tools.  The majority of web designers study typography and other graphical elements of websites.
A web designer can be hired for far less money than a web developer. A web developer is hired at a higher pay than a web designer.

Similarities between website design and website development 

Now that we understand the differences between web design and development let’s look at their similarities. 

Understanding the similarities, you can better understand why web designers and developers are necessary. 

  • Both will contribute to an engaging user experience.

The user’s experience has to be your first concern if you want to create a good experience for your clients. It also helps ensure that the visitors return to the website. 

Why? Customer satisfaction ensures that customers will positively associate with the website and, consequently, the products. Customers who have a negative experience using your website will become upset and choose to do business elsewhere.

How do web design and programming interact to accomplish this? There is a simple fix. The development ensures the website is functional, while the design ensures users can easily navigate your website. 

No matter how beautiful it may be, a website that doesn’t work properly is useless to users.

  • Both parties must work together for the site to be successful.

If you still need to figure it out, you must invest in website design and development. 

Both parties must work together to create a unified, helpful website. Without design, a website would appear impersonal. 

Websites that need to be built will operate effectively. Together, design and development create a website that is truly exceptional to use.

Conclusion 

A web designer is a visual artist who creates a website’s usability, structure, and aesthetic appeal. On the other hand, a web developer creates and updates a website’s basic framework.

Website design and development are both essential parts of building any website. Creating a good website for any business is one of the first steps for marketing the brand to its targetted audience. 

If you want to build a career in digital marketing, check out Imarticus’s Post Graduate Programme in Digital Marketing course. 

This digital marketing course has been designed to help you get a headstart in your career. Some of the top industry professionals teach it. The course teaches about the various tools needed for digital marketing in today’s world. 

Visit Imarticus to learn more!

Risk Management and Analysis in Investment Banking

Posted on by Imarticus Learning

Investment banks face a variety of threats that can affect their economic viability and performance as a whole. Analysing and managing risks in investment banking, thus, has a vital function in maintaining the financial stability of the institution. 

Investment Banking analyst

Simply put, risk analysis entails assessing the probability and potential effect of a negative event, such as market volatility, operational failures, or legal and regulatory non-compliance. Risk management pertains to spotting and preventing risky behaviours or tactics in order to safeguard financial assets from loss.

This article will explore these two crucial components of investment banking in detail.

What is risk management?

In investment banking, risk management refers to recognising, evaluating, and addressing risk factors that occur all through the business life cycle.

The risk appetite, which is based on the current and prospective risk profile as decided by the Investment Bank’s Council [2], is the key element of the investment bank’s risk management plan. The risk appetite serves as a decision-making framework, ensuring that the risks are taken in accordance with the investment bank’s goals and level of risk tolerance.

Investment banks must employ strong and effective risk management frameworks to ensure resilience and survival in a fast-changing economic landscape. According to McKinsey research, technological advancements, macroeconomic shocks, and banking scandals will determine the future of bank risk management. 

The research suggests that by 2025, investment banks will focus on building resilience and improving their risk culture, governance, and data management capabilities to address these challenges effectively.

Types of risks in investment banking and how to manage them 

Some common types of investment banking risks include market, credit, operational, and liquidity risks. Read below to learn the risks and ways to manage them.

  • Market Risk – Potential risk of loss arising due to market variables such as currency rates, inflation, and interest rate risk. To manage this risk, investment banks could rely on a variety of approaches, such as hedging, diversification, and portfolio optimisation. 

Hedging involves taking positions in securities that offset the risk of other positions in the portfolio. Diversification involves spreading investments across different asset classes to reduce risk. Portfolio optimisation involves using mathematical models to allocate assets in a portfolio to minimise risk while maximising returns.

  • Credit Risk – Another critical risk that investment banks face is credit risk. Credit risk is the risk of default by borrowers or counterparties. Investment banks use various techniques such as credit analysis, credit limits, and collateral to manage credit risk. 

Credit analysis involves assessing the creditworthiness of borrowers and counterparties. 

Credit limits involve limiting the maximum exposure investment banks can have to individual borrowers or counterparties. Collateral involves taking assets from borrowers or counterparties to secure loans or other transactions.

  • Operational Risk – It is the risk of loss caused by insufficient or failed internal organisational procedures, systems, or human error. Investment banks can mitigate this risk through the application of various approaches such as risk evaluations, internal surveillance, and crisis management.

Risk assessments involve identifying potential risks and assessing their likelihood and impact. Internal controls involve implementing procedures and policies to mitigate operational risk. Contingency planning involves preparing for potential operational disruptions and having plans in place to respond to them.

  • Cyber Risk –  The probability of loss resulting from online threats, data breaches, and other incidents concerning cybersecurity is referred to as cyber risk. To manage cyber risk, investment banks can adopt a range of tactics such as analysing cybersecurity risks, employee training, and planning crisis responses.

Risk analysis in investment banking

Risk analysis is used in investment banking to detect, examine, and control various types of risk to assure that the banking institution’s risks are within permissible limits and do not compromise its financial stability or image.

Typically, investment banks use complex risk analysis models utilising statistical and financial data to calculate the likelihood and extent of different risk events. These models can assist in identifying potential hazards and opportunities as well as providing insights into the best course of action for risk management.

Overall, risk analysis plays a critical role in investment banking by helping to identify potential risks and opportunities and guiding the development of effective risk management strategies.

Conclusion

Managing risks in investment banking is an inherent part of the financial system. Regulations and fines imposed after the financial crisis have transformed risk management in banking, and the next decade is expected to bring even more sweeping changes to the field. 

With investment banking gaining momentum, more students are exploring this lucrative job sector. If you, too, wish to make a career in investment banking, check out Imarticus’s Certified Investment Banking Operations Professional programme. The course offers guaranteed job interviews opportunities, extensive career support and industry-specific skills allowing candidates to excel in their careers. For more course-related details, visit their website today! 

Contact us through the chat support system, or visit one of our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

Busting the Common Myths Around Cloud Computing

Posted on by Imarticus Learning

Cloud computing is not an emergent concept, unlike what common perception might lead us to believe. It has been in existence for over two decades now. More and more corporate enterprises and IT companies are adopting cloud computing to store data. According to Gartner’s prediction, enterprise IT spending will reach 51% by 2025. 

Although current statistics show 60% of corporate data to be stored in the cloud, several myths and misconceptions surrounding cloud computing restrict its widespread adoption across industries. 

Read this article to learn some common myths about cloud computing and the realities around them. 

What is cloud computing? 

Cloud computing uses remote servers over the internet to store, access, process and manage vital data more than that on local drives. Cloud computing data can consist of anything from images and videos to different documents and files. 

Since the cloud is not a limited database, developers and IT professionals are inclined to store data over the cloud to ensure maximum safety. 

The different types of cloud services used in daily life include: 

  • Email services 
  • Storage backup and data retrieval
  • Testing and creating web applications 
  • Data analysis 
  • Streaming
  • Software delivery on-demand

5 common myths around cloud computing 

Myths arise when technology is feasible and seamless, like cloud computing. Here are some common myths around cloud computing that have been making enterprises think twice before incorporating it into their business. 

Myth #1: Cloud computing lacks security 

One of the biggest and primal myths of cloud computing is that it’s not a very safe infrastructure. This is because the cloud environment is constantly subjected to development, and security measures are changing accordingly. Even though earlier cloud security was fragile, it is now very robust and advanced. 

Although cloud security issues persist, cloud computing data security protocols have progressed immensely and are on the road to betterment. 

Myth #2: Cloud computing is expensive 

This is an age-old myth revolving around cloud computing. On the contrary, cloud computing is much more feasible and cheaper for operations providing immense cost benefits and reducing overall expenses. 

More than 88% of cloud users have now realised that cloud computing is cost-effective. It also helps substantially maintain its environment for building and maintaining its IT system. 

Myth #3: Cloud computing is similar to SaaS 

Even though both have similar features in certain ways, cloud computing and SaaS are not the same. SaaS, or Software as a Service, is a model that delivers applications and models hosted centrally. On the other hand, cloud computing defines storage over remote servers managing, storing and processing data instead of using site servers and equipment. 

SaaS is a part of cloud computing which needs a paid subscription to access a pre-developed, cloud-based software. SaaS is not a versatile model. Another difference is that cloud computing offers total control over its management, which SaaS lacks. 

Myth #4: Cloud computing is a temporary phenomenon 

Cloud computing has now become more and more rooted in the current scenario. This is prevalent professionally and plays a major role in private practices. 

With the rapid cloud market development, more and more businesses are inclined to shift to a cloud-based environment. The cloud environment has numerous benefits like scalability, cost-effectiveness and other important aspects. 

Myth #5: Cloud computing will not replace traditional data centres

By the end of this decade, Cisco has predicted that 92% of the workloads would be based solely on cloud data centres. With the rapid development of cloud computing, traditional data centres would gradually cease to exist. 

However, the cloud might not completely let go of traditional data centres. According to Cisco’s analysis, the traditional data centres have a workload density of 3.5 which was only 2.2 in 2015. Hence, cloud servers would still have to run on different crucial applications like Solaris, Linux and Oracle DB. 

Key takeaways from the myths 

The above myths might not be true about cloud computing, but some aspects still make enterprises apprehensive about adopting cloud services. Here are some key findings from these myths. 

  • Since cloud computing is ever-evolving, security is enhanced and provides various levels of protection like data encryption, prevention and detection of intrusion, etc. 
  • The cloud computing system is extremely cost-effective and can operate better than a traditional environment. 
  • SaaS is not synonymous with cloud computing but is a sub-part and a variation of cloud computing. 
  • Cloud computing techniques are versatile and can be used for personal and commercial uses. 
  • Cloud computing is here to stay. However, it might not completely replace traditional data centres, which need to run various operating systems and key applications. 

Conclusion

Even though cloud computing is now widespread, it is still a new concept. However, it has its own drawbacks. 

If you want to do a course on cloud computing and digital transformation & RPA, check out Imarticus Learning’s Professional Certificate in Fintech. This SP Jain Fintech certification would help you understand different concepts of cloud computing, along with the evolving concepts of the amalgamation of finance and technology. 

For more details, check out the website right away! 

The Biggest Cloud Security Challenges in 2023

Posted on by Imarticus Learning

Organisations once kept all their resources and data as hard copies. However, with technological advancement, they converted these into soft ones. Today, data is stored mainly in the cloud for ease of access. This is where cloud security comes in.

With the innumerable benefits cloud storage has ushered, it has also brought in cyber attackers. And thus, cloud-based security came into being. Its sole objective is to protect the data and resources of an organisation. 

This blog will discuss the biggest challenges to cloud security in 2023.

What is cloud security?

Cloud security is a part of cybersecurity that protects various cloud computing systems. It comprises technologies, protocols and methods to secure multiple applications running in the cloud and protect data held in the cloud. 

Cloud-based security is a shared responsibility between the cloud service provider and the consumer. The service provider protects the infrastructure. The security responsibilities like managing users and protecting cloud-based data assets befall the consumer.

Cloud security includes:

  • Controlling access
  • Various strategies and policies related to security
  • Security measures for the cloud applications and datacentre
  • Detecting and preventing threats
  • Security measures for user and network
  • Regulatory compliance and many others

What are the benefits of cloud security?

There are several benefits that cloud security provides. 

  • 24-hour monitoring

Most cloud-based security solutions provide 24-hour monitoring of assets. It enables organisations to assess various risks and their possible impacts on the business. It delivers threat management that is both proactive as well as responsive.

  • Availability

Cloud-based security solutions usually ensure that the resources and applications are available round-the-clock. They work with a network of servers to handle traffic surges, accelerate application performances and minimise access.

  • Effectivity

A cloud security solution is very effective against DDoS attacks or distributed denial of services attacks, which are increasing in number and magnitude. It helps to identify, analyse and mitigate DDoS attacks.

  • Data security

Protecting data from its creation to its destruction comes under the purview of cloud security. These systems use layers of encryption, multifactor authentication and strong passwords to protect critical data. In addition, certain policies minimise access.

  • Regulatory compliance

The robust cloud-based security solutions follow regulatory standards and compliances. It protects privacy as well as fortifies data security for businesses.

What are the upcoming challenges that cloud security will face in 2023?

Although cloud security has a lot of benefits, it comes with a few challenges of its own. With the upgrade in technology, cyber-attackers too have come up with innovative attacking techniques and tools. The most probable vulnerabilities 2023 will bring forth to cloud security are as follows:

  • Data breaches

The biggest threat to cloud security is data breaches. A data breach can cause potential harm to the brand value of a company. Some organisations are not equipped with the appropriate resources to nullify a data breach. Consumers lose trust resulting in the organisation losing its ground.

  • Lack of expertise

The brands often defer from cloud-based security because they can’t trust their IT professionals to handle all the relevant regulations and strategies. 

With more people choosing ethical hacking and cybersecurity as a career nowadays, the dearth of experts in this field will soon see a solution.

  • Unauthorised access

Cloud-based security system for a company is off-premises and can be accessed directly from a public network. Although this system helps the employees and consumers, it also gives the cyber attackers an easy option to gain unauthorised access to the resources.

  • Violence of compliance

A cloud security system is based on various protocols and regulations. For the system to run appropriately, compliance is necessary. However, often, as a consequence of negligence or some other factor, compliance is overlooked or violated. 

  • Threats from inside

An insider threat is one of the biggest challenges a company can face while creating robust cloud-based security. A malicious insider with authorised access can target the system and often get away with them without being detected.

  • Insecure interface

Cloud-based security systems offer a plethora of programming interfaces for their customers. While these interfaces are designed with easy accessibility for the customer in mind, they often lack security features. The lack of features allows cyber attackers to exploit these interfaces and get access to customer data.

  • Abusing cloud service

Cloud services can be used not only for good but also for malicious activities. Phishing attacks, click fraud, crypto mining or hosted pirated content are most common among these. These can lead to significant financial loss for the customers. 

  • Data sharing

Cloud security makes data sharing an easy procedure with its link-based sharing system. But this link-based sharing system makes it almost impossible to control access to the shared data, which can then lead to data breaches.

Conclusion

If you are interested in cloud security, consider a career in cybersecurity. It is one of the most in-demand career paths with immense job potential in all sectors. You can land a lucrative job with the relevant skills.

Check out the IIT cybersecurity course Advanced certification programme in cybersecurity, brought to you by Imarticus. The course offers classes on core subjects, including information security and ethical hacking.

A Brief Introduction to Corporate Finance

Posted on by Imarticus Learning

Corporate finance is an important component of any business or organisation, regardless of size, industry, or location. It can be described as the process of managing financial resources to achieve the goals and objectives of the company, such as maximising shareholder value, maintaining financial stability, and ensuring long-term profitability. It is a subset of finance focused on corporates using funds, finding fund sources, capital structuring, investment decisions and accounting.

If you want to learn more about corporate finance, then this article is the right place to start.

What is corporate finance?

Corporate finance is the study of the financial decisions made by corporations or businesses. This entails analysing and managing a company’s financial resources to achieve the organisation’s goals.

The primary goal of corporate finance is to maximise shareholder value while ensuring the company’s financial stability. It is extremely vital because it can provide a framework for financial decision-making that considers risks and opportunities associated with various investments, projects, and financing options.

Corporate finance involves activities such as financial planning, capital budgeting, investment decisions, dividend policy, financing decisions, risk management, etc.

Why is corporate finance important for businesses?

Corporate finance assists businesses in making informed decisions about where to allocate their financial resources and how to manage financial risks effectively. Corporate finance is also important in attracting investors and obtaining financing for the company’s operations.

A well-managed financial system can help boost investor confidence and increase the company’s creditworthiness, making it easier to access capital markets and secure favourable financing terms.

Additionally, corporate finance is critical for strategic planning and growth. It helps businesses identify new investment opportunities, evaluate the financial viability of potential mergers and acquisitions, and develop a long-term financial plan aligned with the company’s strategic goals.

Essential components of corporate finance

Here are the essential components of corporate finance:

Financial planning and analysis: These financial activities are concerned with the creation of budgets, the analysis of financial statements, the forecasting of future cash flows, and the identification of potential risks and opportunities for the company.

Capital budgeting: It entails analysing investment opportunities and deciding which projects to fund based on expected returns and risks.

Investment Management: This type of management manages the company’s investment portfolio to maximise returns while minimising risks.

Dividend Policy: Dividend policy decides the amount and timing of dividend payments to shareholders.

Financing Decisions: This entails choosing the best mix of debt and equity financing to fund the company’s operations.

Risk Management: It is concerned with identifying and managing financial risks such as market, credit, and operational risks.

The direct benefits of corporate finance

Here are the direct benefits of corporate finance:

Improved Financial Performance: Effective corporate finance practices can assist businesses in more efficiently allocating financial resources, minimising financial risks, and increasing profitability. Companies can improve their financial performance and achieve their goals more effectively by optimising financial decision-making.

Improved Risk Management: Corporate finance practices can assist businesses in identifying and managing financial risks such as market risks, credit risks, and operational risks. Companies can reduce potential losses and improve financial stability by developing effective risk management strategies.

Efficient Capital Allocation: Good corporate finance practices can assist businesses in allocating capital more efficiently. Companies can make the most of their financial resources and improve their overall performance by identifying the best investment opportunities and optimising financing options.

Improved Cash Flow Management: Corporate finance practices can assist businesses in better managing their cash flow, ensuring they have enough liquidity to meet their obligations and pursue growth opportunities. It can help businesses avoid financial distress and maintain their competitive edge.

Increased Investor Confidence: Sound corporate finance practices can help build investor confidence by providing transparency and accountability in financial reporting. Companies can attract new investors and secure financing more quickly if they commit to effective financial management.

Improved Strategic Planning: Corporate finance practices can assist businesses in developing long-term financial plans that align with their strategic objectives. Companies can plan for growth and long-term success by identifying new investment opportunities, evaluating potential acquisitions, and optimising financing options.

Competitive Advantage: Companies can gain a competitive advantage in their industry by implementing best practices in corporate finance. They can outperform their competitors regarding financial performance, attracting investors, and making more informed financial decisions.

Conclusion

Corporate finance is critical for businesses to meet their financial goals, maintain financial stability, attract investors and financing, and plan for both short- and long-term growth. Businesses that lack effective corporate finance may struggle to make informed financial decisions, manage financial risks, and achieve their strategic goals.

A well-planned financial services programme can help you gain a thorough understanding of financial markets, instruments, and strategies, preparing you to excel in corporate finance. You will learn to analyse financial data, evaluate investment opportunities, and make sound financial decisions to propel your business forward.

If you are a working professional with more than two years of experience and you aim to have a career in financial services, then you can check out the Advanced Management Programme in Financial Services and Capital Markets by Imarticus.

CFO Strategies for Effective Communication

Posted on by Imarticus Learning

Effective communication is critical for any CFO to thrive in today’s corporate climate. The ability to effectively explain complicated financial information to a wide variety of stakeholders, including board members, investors, and other important decision-makers, is a requirement for the position of CFO.

chief financial officers course

 An all-inclusive CFO course trains prospective candidates in various communication techniques enabling them to convey financial information succinctly.

In this blog, we’ll explore strategies to help you improve your communication skills as a CFO.

10 effective CFO communication tactics

The strategies a CFO can use for efficient communication are as follows:

  • Develop a communication plan

The first step to good communication is identifying key stakeholders and considering their preferences and expectations. Determine the frequency and format of communication. Set clear objectives and goals for each communication. 

Create a communication schedule outlining when and how to communicate with each stakeholder. Regular evaluation of the plan’s effectiveness and adjustments made as needed will ensure that the plan meets stakeholders’ needs and effectively communicates financial information.

  • Using visualisation tools

Identifying the key message and simplifying data are important in choosing the right tool. Different types of charts and graphs, such as line charts, bar graphs, pie charts, and heat maps, can be used to represent the data. Notably, data visualisation tools help communicate the message in a comprehensible manner.

  • Storytelling format

The first step in employing storytelling techniques is to define the primary point you want to convey and use simple, lucid language. 

Additionally, you may make your thesis and financial data more accessible by using real-life examples. Adding visuals to your tale, such as photos or videos, helps strengthen it and make it more interesting. Practising narration beforehand guarantees that your tale flows naturally and is appropriately conveyed. 

CFOs may successfully share financial information with stakeholders in a way that connects with them and motivates action by employing storytelling tactics.

  • Listen actively

CFOs can employ active listening as a crucial ability to enhance communication with stakeholders. 

Pay attention to stakeholders and their message, demonstrate interest by asking questions, and offer feedback. Avoid interrupting a stakeholder and wait for him/her to complete speaking before answering. CFOs can also actively listen by empathising with stakeholders’ worries and summarising their message. 

Comprehend stakeholder issues, enhance communication, and foster an open and collaborative culture using active listening techniques.

  • Being accessible

Accessibility is an important factor for effective communication. It allows stakeholders to choose the most convenient method for them, and prompt responses to inquiries demonstrate commitment to addressing their concerns. 

Additionally, accessibility allows stakeholders to ask follow-up questions and seek clarification on financial information. 

By being accessible, CFOs can improve communication with stakeholders, foster trust, and promote transparency, leading to better decision-making and business outcomes.

  • Seek feedback

Seeking feedback is an essential strategy for CFOs to improve communication with stakeholders. It helps build trust and identify areas where CFOs can improve their communication strategy. It establishes a culture of openness and collaboration where stakeholders feel heard and valued. By seeking feedback, CFOs can continually improve their communication skills and ensure they are meeting the needs of their stakeholders.

  • Audience specific communication

For CFOs to effectively engage with various stakeholders, communication must be tailored to the audience. While more financially savvy stakeholders may benefit from technical and elaborate language and charts, non-financial stakeholders may benefit from straightforward, non-technical language and basic, easy-to-understand examples. This can increase comprehension, foster trust, and encourage wiser choices.

  • Being transparent

An essential component of CFO’s effective communication is transparency. Give simple and precise financial information, outline potential risks or uncertainties, and avoid misunderstandings or apprehension. 

Transparency helps CFOs establish themselves as reliable consultants and create enduring bonds.

  • Continual learning

As a CFO, better communication requires constant learning. It includes participating in seminars or training sessions, asking stakeholders for comments, and developing new technologies and solutions to improve communication. It enables them to be informed about current communication methods and trends, helping them to interact more successfully. 

Continuous learning also enables CFOs to develop soft skills like persuasion, active listening, and empathy. These abilities help CFOs connect with stakeholders more deeply. 

  • Embrace technology

Technology is a potent tool to improve communication. Utilise it to speak with stakeholders through online collaboration tools, video conferencing, and e-mails. Additionally, it helps automate common communication procedures, such as financial reporting and makes data visualisation easier. 

Conclusion

Applying the suggested tactics can enhance communication with stakeholders and lead to improved business outcomes. Effective communication is crucial for CFOs to thrive in their responsibilities.

Imarticus Learning’s Postgraduate Certificate program for CFOs is a comprehensive CFO course designed to provide in-depth knowledge and practical training in essential areas such as financial management, accounting, business strategy, and leadership. It is one of the best IIM Indore courses delivered by experienced industry practitioners and is available online, allowing students to learn at their own pace and convenience. 

Tableau Explained- A tool or software?

Posted on by Imarticus Learning

Introduction

Data is generated by people through the usage of various technologies. It ranges to more than 2.5 quintillion bytes every day. However, organisations cannot enjoy the data in its raw form. It needs to be organised to gather hidden patterns and meaningful data insights.

For such needs, companies use products from software companies such as Tableau. The products help in the optimisation of business processes through visualisations and data analysis. Let us start with understanding what is Tableau’s meaning.

Meaning of Tableau

Tableau is a software company that deals with providing visual analytics platforms. These platforms allow organisations to transform the way that they use data. They amplify the use of business intelligence through visuals. This enhances the use of the data available and allows companies to solve business problems.

The platform is in demand as it even enables non-technical users to design customized dashboards. The easily understandable data format created by Tableau is for professionals at any level in an organization. However, what is imperative to understand is whether it is a tool or software. Let’s dive into the details to know.

Tableau Software

Software is a program that is used to execute a specific task on computers. Similarly, Tableau as a software facilitates the visualisation of data. This allows data analysis to be quick with the help of data generated in the form of dashboards and worksheets. Tableau can be considered as software as it operates in virtualized environments. This environment requires proper underlying hardware and operating system.

Big Data Analytics Training Courses

Once the set-up is on, Tableau tools can be used to gather business intelligence. The software provides the benefits of data blending or combining data from multiple sources. It also provides the benefit of real-time analysis and collaboration of data. These data then provide actionable insights to the company. The visual data generated from Tableau software facilitates decision-making. This, in turn, drives the business forward.

Now let’s understand the Tableau tool.

Tableau tool

With Tableau software, the product suite or tools can be classified under two broad headings. These are:

  1. Developer Tools

Developer Tableau tools help to create a chart, reports, dashboards, and data visualization. Among the product suite from the Tableau software that can be categorized as Tableau tools, are Tableau Public and Tableau Desktop.

  1. Sharing Tools

These Tableau tools are designed to facilitate sharing of documents. These include various charts, reports, dashboards, and data visualization created. Tools such as Tableau Server, Online, and Reader fall into this category.

With the knowledge of Tableau meaning, let’s understand why Tableau software or tool is important in creating a career in analytics.

Importance of knowledge of Tableau for data scientists

With the knowledge of Tableau, you would be able to conduct the following tasks:

  • Create visualisations
  • Design dashboards
  • Manage big data
  • Identify patterns and devise meaningful insights
  • Manage Tableau Server
  • Improve performance by twisting SQL queries
  • Examine and resolve glitches in business processes
  • Make the business processes smooth

Final Thoughts

All in all, it can be said that Tableau is an interactive visual analytics platform. This comprises the features of the software as well as tools. Together the products offered by the firm help in the visualisation of data, in-depth insight, and a user-friendly approach. Learners can quickly be trained in the usage of this platform and work towards gathering business intelligence. Specifically, from disparate data sources. If you want to succeed in a career with the knowledge of smart platforms like Tableau, we have just the course in mind.

Qualification, as provided by The Postgraduate Program In Data Science And Analytics, prepares you to be versed with data visualisation tools like Tableau and others. This job interview guarantee program is designed for a data science and analytics career. The job interview specific curriculum has Tableau topics including establishing data connections and Working with Metadata. It will also introduce you to the interface of Tableau and basic chart types. In addition, the course covers Tableau software and Tableau tools. You will also be introduced to Mapping, Dashboard and Stories, and Calculations on Tableau software.

To answer why the course with Imarticus, because we offer one of a kind integrated learning experience. With each core module in the Program In Data Science And Analytics, we offer an evaluation of your performance. We have dedicated project mentors that make your learning optimal.

Your learning journey is designed to go through stages of foundation learning to excellence. In addition, we provide opportunities for preplacement assessment, capstone projects, hackathons, and project experience. Lastly, there is a placement drive on completion of the program that prepares you for the role of data scientist, business intelligence specialist, and analytics manager among others.

Get a free 1:1 Imarticus counselling
Get a free 1:1 Imarticus counselling