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Category: Management

AI Deep Learning: What’s in it, and how is it an Asset for AI specialists!

Posted on by Imarticus Learning

Artificial Intelligence has seen exponential growth in recent years. AI is turning the way we live and work. But it cannot be easy to understand what exactly AI is. This blog post will tell you why to learn AI and why it matters for everyone!

What is AI deep learning?

Deep learning is a part of artificial intelligence and machine learning (ML) that imitates the way humans gain certain kinds of knowledge. This method has been around for several decades.

For AI, deep learning is a technique that allows artificial intelligence to learn and understand data. It works by showing an algorithm with lots of examples rather than programming it with inflexible rules, as many artificial intelligence programs have done in the past. Thus Artificial Intelligence and Machine Learning course helps to learn AI.

Why Is AI Deep Learning So Necessary?

While traditional artificial intelligence algorithms are linear, deep learning algorithms are stack in a hierarchy of increasing complexity and abstraction. Deep learning allows computers to connect concepts that they wouldn’t otherwise be able to do independently.

Artificial neural networks, algorithms get inspired by the human brain. They get trained from enormous volumes of data. The deep learning model would execute a task, modifying it each session to enhance the result, like how humans learn from experience. So, there is a need to understand AI.

How Is It Helpful For AI Specialists?

Deep learning allows artificial intelligence to identify patterns in data without human supervision. This artificial intelligence uses image recognition, which requires computers to understand concepts like color or objects and how they relate. Artificial Intelligence Course can be used to power self-driving cars and even recognize faces.

Artificial Intelligence (AI) is machine intelligence. Artificial Neural Network (ANN), Deep Learning, and Machine Learning are the most popular type of artificial intelligence at present. The ANNs algorithm creates a deep understanding of how to solve complex problems with computer data. Deep learning is a part of the artificial intelligence course. The IIT artificial intelligence Course helps to solve complex problems with data using neural networks.

Deep Learning is helpful for AI specialists working in different industries like Banking, finance, insurance, etc. It often gets used by all types of businesses and government sectors to solve problems.

Why Enroll In AI Progam At Imarticus Learning

artificial intelligence and machine learning courses in IndiaImarticus learning offers the best machine learning and AI course for your data science career. They provide certification in AI and Machine Learning. This 9-month Artificial Intelligence and Machine Learning program are in collaboration with AI/ML industry experts.

The program helps students to grasp precisely what Machine Learning and Artificial Intelligence market demands in professionals. Through 25 in-class real-world AI & ML projects, industry experts teach you crucial job-relevant skills.

Through several AI Deep Learning corporate strategies, students attain real-world Machine Learning and Deep Learning skills. The program is capable of converting a fresher into a highly prized New Age AI and ML Specialist. For further details on the course, contact us through the Live chat support system. You can visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi Gurgaon, and Ahmedabad.

Why Is It So Easy To Get an Analytics & AI Certification, But a Struggle To Get The Right Job Interview Opportunities ? Imarticus Has an Answer

Posted on by Imarticus Learning

The data science domain is expanding. With it, the demand for AI, ML, NLP, and other data science careers is also rising. Reports suggest that there were 2.9 million data science job openings in 2019 alone and by 2026, this number is going to go up to 11.5 million.

Despite this huge demand, getting a good job in the AI and Analytics field is a real struggle. Many aspiring people do many courses in different branches, be it computer visions or deep learning. But when it comes to securing a job, a lot of them find it extremely difficult.

Key Reason for Difficulty in Job Seeking

While most of the people blame it on the companies that they don’t understand what they want, the harsh reality is that most of the aspirants in this sector lack the important skills required to get a good job interview opportunities. Many candidates are not competent enough to grab a job role in data analytics or the AI field. Data science is a complex field that requires an extensive amount of knowledge and a high-level skill-set.

Though many students do certificate courses from various institutions online, most of the time they do not get taught and trained the right way. It results in students missing out on important concepts, analytics, and numerical aptitude. When these students go out in the real world, they end up facing rejection on their job applications.

The thing is if students want to build careers in the data science field, they need to be exceptionally well at it. For this, they need to pursue a course that builds their foundational and advanced knowledge in-depth and provides them with the crucial practical skills required in the real world.

Imarticus Learning PGA – The right way

Imarticus Learning offers a Post Graduate Program in Analytics & Artificial Intelligence that teaches the in-demand tech skills in the job market at present. The teaching method involves engaging videos, live sessions, and exercises.

data analytics courses in IndiaIndustry professionals having years of experience in this field deliver ML, computer visions, and deep learning training projects.

Upon completion of the post-graduate program in data analytics course, Not only but students also get guaranteed job interview opportunities and placements in leading companies.

The PGA course covers theory and practical learning on the following subjects:

  • Data Science Fundamentals
  • Deep Learning
  • Machine Learning
  • Computer Visions
  • Natural Language Processing
  • Placement Preparation

During the entire duration of the course, students are provided with a mentor who supports them in their academic journey and guides them in their career path. The mentor performs the following roles:

  • Motivate and Inspire to engage in projects and their completion.
  • Monitor your grades and potential.
  • Build meaningful connections that will help you beyond the course.

By studying the PGA course with Imarticus Learning, students get complete support and guidance throughout their learning process. The career services provided with this course include:

  • Guaranteed Jobs
  • Resume Building
  • Interview Preparation
  • Profile Enhancement

Job Roles after PGA Course

Upon successful completion of the Imarticus Learning PGA course, you can find suitable careers in:

  • Business Analyst
  • Artificial Intelligence Engineer
  • Data Analyst
  • Machine Learning Engineer
  • Data Science/Machine Learning Consultant
  • Web & Social Media Analyst
  • Machine Learning Architect
  • Data Scientist

The salary packages in these job roles are quite lucrative. The average pay scale in Analytics & AI roles is around INR 5 LPA to 25 LPA.

Joining Procedure of PGA Course

Candidates interested in Analytics & Artificial Intelligence can join this program for building a successful career in this field. The joining procedure is simple and includes three steps:

  • Detailed Profile Check
  • Online Tests
  • Enroll

The prerequisites for the course include a graduation degree with a minimum of 60% and a basic understanding of mathematics and programming. With data analytics course, students can get the best education and make their dream of becoming a professional in this field come true.

How Can Computer Vision Protect Millions of Homes From Intrusion?

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Introduction

We need to embrace the concept of computer vision in homes rather than shy away from the idea of exchanging personal data to achieve new levels of protection, safety, comfort, and entertainment. Computer vision combined with NLP and ML enables computers/systems via digital images or video to understand what they see.

When systems can detect and recognize objects, according to what they are scheduled to do, they can deliver intelligent behavior. Automotive space is one area that has successfully demonstrated how computer vision can change our lives. Car systems that use computer vision can recognize the driver behind the wheel and can warn the driver when he starts to swerve out of his lane to see the surrounding area.

Many customers on their smartphones are already using computer vision and don’t even know it. To recognize facial features and position overlays (philters) in the right positions, both Snapchat and Instagram use computer vision tracking.

How does Computer Vision help us in making things secure?

Accepting computer vision into your house and connecting it to your connected devices helps your daily routine to have a new level of convenience. When you arrive and open the door for someone, the front door will be able to see or stay locked when an unknown person (face) approaches. Alarm systems are smarter, able to distinguish who are family members (including age and gender) and who are not.

If an elderly family member or visitor trips, or if a child is climbing up the stairs, on the countertop, or anywhere that puts the child in danger, indoor surveillance cameras will send a warning to your mobile, taking it a step further. Nest, Logitech, and other smart home manufacturers have either begun offering customers these smart security features as a premium subscription service or have already incorporated them into their newest devices.

Computer Vision in Intrusion Detection

Abbreviated as IDS, an Intrusion Detection system plays an important role in providing the required security assurances for all networks and information systems in the world. One of the solutions used to decrease malicious attacks is IDS. As attackers often change their attack tactics and find new methods of attack, IDS must also develop by implementing more sophisticated detection methods in response.

The enormous data growth and substantial developments in computer hardware technology have led to the existence of new studies in the field of deep learning, including intrusion detection.

To provide a high degree of security and security staff monitoring effectiveness, high-performance AI systems can make the task monitoring process automatic for high-risk sites. Also, these intrusion systems can identify objects based on size and location. However, they fail to recognize the type or form of the detected object.

Perimeter Defense (Intrusion Detection) systems with high-end artificial AI algorithms to identify a multitude of different types of objects can now discern objects of interest, thus dramatically reducing the rate of such intrusions that might indicate a false alarm. The more sophisticated systems, such as those provided at IronYun, allow its customers to design ROIs based on intrusion detected points, high-value areas, and or any other region that may be beneficial for alerts.

Similarly, the applications designed for face and license plate recognition have the ability to detect people or cars(the license plate) in addition to solutions for motion detection and use pre-designed data to identify distinct faces or plates that should be watched regularly, similar to the pre-designed lists.

Needless to say that these systems will also allow its customers to search for faces that are not provided already on the camera. For example, if a person is identified hanging outside a house many times, one can store their pictures in the designed watchlist and fix an alarm when the face is identified again around the house or in your surroundings.

The main advantage of the system is that before the troublemaker completes the act, the warnings will assist in discouraging and avoiding vandalism or robbery and inform the authorities of the scene.

Conclusion

AI-based security measures combined with computer vision, deep learning, ML, and NLP training can do all the boring work for you to help deter fraud and vandalism. They are also the most accessible security solutions available with a strong return on investment due to their low cost and outstanding reliability.

computer vision coursesStopping crime is a challenging, ongoing challenge, but enterprise vendors and law enforcement can do it more easily with the right AI apps. This is also one of the reasons why people are excited about an acceptable career in the AI sector.

AI and ML are Enhancing Marketing and Sales Strategies across Industries

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Understanding the AI & ML Technology

Artificial Intelligence (AI) technology has revolutionized the way businesses function and operate. It has given a massive push to businesses by leveraging big data and smart analytics. Artificial intelligence technology is a broad discipline related to computer science that helps to develop smart machines/systems that are capable of performing complex tasks that earlier needed human intervention. Simply put, artificial intelligence technology helps to simulate human intelligence into machines that can learn to perform tasks using their intellect.

Machine Learning (ML) is a branch of artificial intelligence technology that deals with the process of training machines through using complex data sets. It helps machines to acquire the knowledge needed to perform a certain task using tons of data for every particular scenario.

big data analytics courses in IndiaIt can be understood as an application of artificial intelligence technology that imparts machines with the ability to learn from their past data processing experience. Machines use their learning to process data based on real-time inputs.

Artificial intelligence and Machine Learning career is considered as one of the most sought after ones in the contemporary given its demand in the industry.

AI & ML Alleviating the Marketing & Sales Experience

In the contemporary digital era, people are more accustomed to buying things online. This has created new opportunities for organizations to leverage technology into their sales and marketing endeavors. Digital marketing has helped companies to reach their targeted customers easily and it has also boosted the conversion rates.

Today, marketing is all about understanding your customers and offering them what they really want instead of just blindly pushing products. It requires understanding consumer behaviour, interest, purchase patterns, etc.

Brands deploy AI & ML algorithms to personalize the shopping experience for the customers by leveraging big data that provides them with actionable insights. AI-powered tools have drastically enhanced the marketing game and help to maximize returns on the marketing expenditure. Better consumer targeting also helps to increase the conversion rates and a personalized shopping experience helps to boost customer satisfaction. This aids to increases the top line of the companies easily.

Artificial intelligence technology along with advanced analytics tools have proved to be a boon for businesses when it comes to complementing marketing and sales efforts. It helps to provide useful actionable insights by assessing tons of user data and providing better information that allows effective targeting.

It is almost impossible to flawlessly analyze such high volumes of data on a daily basis using human labor. This is where artificial intelligence and machine learning technologies come as a helping hand. AI tools help to process large volumes of data in a fraction of seconds and also predict the future trends that might be helpful for the business.

 Conclusion  

AI & ML technology along with advanced analytics has revamped the marketing and sales landscape by providing valuable insights into useful data and fast data processing experience. Artificial intelligence career is also growing popular and one can learn more about this discipline by opting for an artificial intelligence and machine learning course by reputed institutions like Imarticus Learning that provides you with a comprehensive understanding and placement assistance with the most reputed firms in the industry.

How To Create An Image Dataset and Labelling By Web Scraping?

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Every data science project starts with data. We need to acquire a huge amount of data to train our machine learning models. There are various ways to collect data. Surfing websites and downloading the structured datasets present on them is one of the most common methods for data collection. But there are times when this data is not enough. Certain problem statement datasets are not easily available on the web. And to deal with this situation, we need to create our own datasets.

In this article, we will discuss the method of creating a custom image dataset and labeling it using Python. First, let us talk about acquiring images through web scraping.

Web Scrapping

Web Scraping refers to the process of data scraping from websites. It surfs the world wide web and stores the extracted data in the system. Beautifulsoup is one of the most popular Python libraries for image scraping. The requests library requests the essential webpage.

How To:

When we go to the developer tool by clicking on a picture on the webpage, there displays a format starting with images.pexel.com/photos after which a number is listed, which is unique for every photo. One can get a similar image using the regex (regular expression).

Using this method, our images get scrapped. We can also print the links if we want to see those links and make a directory of them. After this, we will download the images. Once the process is complete, you can see the scrapped images through the specified path where images are stored.

Labeling

After scrapping and storing the images, we need to classify them through labeling. Labeling software is used for this purpose. It is a pip installable annotation tool. It provides two annotations YOLO and PASCAL VOC.

How To:

You can open the labeling software using the command: (base) C:\Users\Jayita\labeling

There will be specified options on the left-hand side of the screen. On the right-hand side, you will see the image file information. Select ‘Open dir’ to see all images. Press ‘a’ to view the previous image and ‘d’ to view the next image.

To get the annotations, draw a rectangular box and press ‘w’. A window will pop up to store the image’s class name. Once you are done with drawing the box and labeling the image, it’s time to save it. To generate the annotations, you need to store the image in PASCAL VOC or YOLO format.

One can learn about this in detail in a data science course. Web scrapping and labeling is not a hard process once you understand the basics of it. You need to be careful while scrapping a website and obey the rules so that you do not harm the website you are scrapping. Take time to consider your requirements and research accordingly to find a suitable website for this process. For example, if you plan to develop a model for fashion, then online shopping websites should be on your scrapping list.

Learning web scraping and labeling is important if you want to build a data science career in the future. It will provide you with a deep understanding of image datasets. You can use these techniques to increase the data in situations where available data for a project is less. You can apply this process to multiple classes if they share the same folder and get the desired results.

What are the Big Data Use Cases That Explains Digital Transformation?

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The business world is transforming. Big data is influencing business decisions, marketing optimizations, business predictions, and day-to-day operations. Big data is expected to reach $300 billion by 2023. Though the term ‘Digital Transformation’ is loosely used as a euphemism for the modernization of data infrastructure, the true meaning of the word is becoming vital for the business world.

big data analytics courses in IndiaIt is true that the organizations are increasingly becoming data-centric, that they allot nearly 40 percent of their technology budget for digital transformation.

Data analysis courses facilitate faster, better, and smarter business decisions helping to achieve better operational efficiency, building a loyal client base, and leading to higher profit. Let us have a look at some use cases that explain this transformation.

Banking

Banks need to deal with a massive amount of financial information. Big data is used in banking to structure the collected data, organize them based on the business needs and analyze the data to derive insights on spending patterns, storing historical data like the transactions, payment records, etc. It also helps in identifying fraudulent actions and ensuring preventive measures are in place to block such frauds.

Another area of big data application is to prevent identity thefts. The banks use big data to keep a tab on customer actions. For example, if a customer follows regular spending patterns using the credit card such as groceries and general shopping, and all of a sudden there is a change in the behavior, such as spending money in gas stations and convenience stores from multiple locations across the city, the bank suspects something unusual. In this case, the bank may try to call the customer and find out if the card is stolen.

Online Shopping

Imagine you visited an online store and added some products to your cart. On second thought, you abandoned the cart and signed out without making any purchase. After some time, upon casual browsing, you see an advertisement for the same product you had planned to purchase.

The next day, you receive a mail with a discount offer for the same item. Targeted advertising is another application of big data. Online stores watch every movement of their customer from the moment they enter the store. They keep track of the pages you visited, the product you intended to buy by adding to the cart, etc. They use all this data to show targeted ads with irresistible offers that finally nudge you to purchase them.

Travel and Logistics

Big data facilitates the smooth running of logistics and transportation. It helps in scheduling flights, to show the booking status and seat availability, seasonal fluctuation in booking, etc. It also collects data regarding weather across the globe to predict flight delays. Big data is also used to analyze user trends and to predict the number of airplanes needed to cater to the increasing number of passengers. It could also be used to perform competitor analysis.

big data analytics courses in IndiaGiven above are some use cases that explain the application of big data in various industries. Apart from this, education, healthcare, digital advertising, environmental studies, human rights, etc. are some prominent areas that use big data to streamline their actions.

If you aspire to start a career in big data, this is the perfect time to enroll in a big data analyst course and secure a lucrative career.

Credit Underwriting: Robotic Process Automation Challenges And Solution

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Robotic process automation (RPA) has been creating a buzz for a while in the marketing and financial sectors. In simple terms, it can be defined as a technology based on software where you can find robots emulating human behavior while executing business processes. The software robots perform the same tasks that any human would do while working on an operating system to do his/her job.

But, you may wonder what purpose could RPA have in credit underwriting and the loan process? Well, you would be surprised to know that RPA training is a major player in the loan and credit sector. This is due to RPA solving many of the challenges faced by banks and financial institutions while sanctioning loans.

The Challenges

Credit underwriting is basically the procedure through which financial institutions judge giving credit or a loan to someone after reviewing the risks involved. However, the manual process of underwriting loans is long and tedious. There are many changing regulations, forms that need to be filled, and requirements that have to be met, along with an enormous amount of paperwork.

With so much red tape, a person or business in need of immediate monetary assistance will not be able to get a loan in time. Even when someone meets all the requirements, a simple factual error in the whole process might lead the bank to ask you to apply again.

This can be irritating, to say the least. Employees of the bank who do the paperwork for the customer also spend a large part of their production time performing this time-consuming process. The opportunity cost of this could be really high in the long run as those same employees could have been somewhere more helpful. And, this is where robotic process automation comes into the picture.

The Solution

Using robotic process automation can be very effective in dealing with credit underwriting. There are several solutions and long-term effects that RPA offers in this section:

  • Firstly, it automates the entire process. This includes data entry jobs, task assignments, and risk compliance, among others.
  • Loan and credit requirements are constantly changing. Automating the system can help customers get the updated regulations.
  • RPA also dramatically reduces the time taken to process a loan from the bank. If you have the proper documents and you meet the requirements, then you will get the loan immediately. So, no more waiting around for months to have your loan sanctioned!
  • Tailoring RPA to suit the needs of your customer is also possible. This helps build a better loan portal for countless applicants.
  • The data and certificates from customers are also stored securely within a database in RPA. That way, one can easily access the said documents whenever required.
  • Accuracy in data collection is also very high in RPA. Automation eliminates the chances of almost all the factual errors that are made when a person records them.
  • RPA can be an important tool in maintaining compliance with loan requirements, erasing corruption within the process. As a result, there is a much greater possibility of fraud detection while running RPA.

To sum it up, RPA is an important tool and will be even more important in the finance sector with each passing day. Many aspirants who want to have careers after graduation in the credit risk and underwriting sector often look for a certificate course in banking and finance.

For those thinking what after B.Com or M.Com, do not fret. The answer to this question of what after B.Com is going for a reputable certificate course in banking and finance. Pursuing such courses can lead to some great careers after graduation!

How A Security Camera Vendor Exposed User Data While Performing Analytics?

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A company responsible for manufacturing security cameras recently cost a huge number of its users their privacy as well as personal data which was accidentally exposed onto the internet. After admitting and owning up to their mistake, they went on to explain exactly what went wrong.

According to the company data belonging to users like their email address, body metrics, and IDs belonging to their WiFi networks were left exposed while critical information like financial information and the user’s passwords were left unaffected. This took place in December of 2019.

This incident occurred as a result of a misconfiguration in the database of Elasticsearch. This contained data that was generated by millions of the company’s customers, which they blamed on one of their employees. After explaining the issue, the company promised and was determined to keep looking into the database’s lack of proper security standards.

For those wondering what Elasticsearch is, it is a scalable analytics and search engine that is both open-sourced and includes full-text searches. It allows its users to analyze, look for and store large volumes of data efficiently and in real-time.

How exactly did the incident take place?

During an internal project which was meant to determine ways to measure metrics related to businesses in a more efficient manner, the incident took place. The method was to be used to measure activations of various devices, failed connections, and so on. This, however, would require data replications from the main or original production servers and into a database that would be more flexible.

This would make it easier to query. Bigger volumes of queries may possibly impact the customer’s product experience if it is done on the central database as it is very compute-intensive. Processing without there being any system lag required an individual data subset to be moved into a database that was different.

In doing so the user data was exposed in an unencrypted manner while it was being transferred to a novel database for querying. An employee had cleared out all prior made security protocols due to an error that led to the unfortunate incident. The new database only held a data subset and did not include any government-regulated or vital data such as passwords and financial intel.

What was exposed to the web exactly?

Until now, the company has only owned up to exposing the data which has been revealed and denies any evidence of data breaches. The company informed the public about the customer data that had been exposed which included data from their artificial intelligence assistants like Alexa, data pertaining to their health, their email addresses, and IDs to the networks of their Wifi’s.

Users have been asked to be careful against possible phishing ambushes because hackers could possibly have access to their user names and email addresses. These could still potentially be used to thieve credit and financial information.

The company also claimed that there was no evidence of exposure to their tokens required to log in. Users, however, have been logged out of their accounts as a precautionary or safety measure, allowing new tokens to be generated for logging in. The company has been working towards ramping up its security. This may include the addition of a two-factor method for user authentication. For aspirants looking to know more about the world of data science, a data analytics course would be perfect.

best Data Analytics courses in India Not only would allow aspirants to learn more about the field but it would also equip them with all the necessary information and tools required to succeed in a data analytics career.

Data Analytics and Other Skills Which Can Boost Banking Careers

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Data Analytics and Other Skills Which Can Boost Banking Careers

We are living in a fast-paced world that is constantly changing with the advent of new and progressive technology. What’s relevant today might be of no use in the near future, such as the frequency and intensity of change. In the contemporary scenario, the digital world has taken over the real one and the world is moving online.

This totally changes the equation for businesses that were earlier accustomed to traditional methods. Now it possesses another challenge for the employees who were trained as per the traditional methods.

This evolution and challenges also apply to the banking industry. With the advent and proliferation of e-commerce, more people like to purchase goods and services using an online method that requires a digital banking facility to make payments. Also, the digital banking system is an evolved version of traditional banking that tackles the challenges faced by traditional banking methods. It makes it more convenient for people to avail and use banking services from the comfort of their home.

An important observation about the digital space is that it runs on data. Tons and tons of data are generated and recorded from various data points. Most of these data are related to customer transactions that help the business to gain valuable insights about the market and the customers.

Earlier this goldmine was left untapped as businesses didn’t have the tools to explore the benefits of data. This has changed over the past decade and businesses have realized the latent potential of data science, data analytics is indispensable for businesses in almost all industries, especially banking.

Banking and underwriting course can help you easily break into the banking industry. Also, wealth management training online can help you obtain a comprehensive understanding of the industry and give you an edge over the competition in finance and banking-related jobs.

Let’s explore some of the most prominent data analytics skills that can boost the banking career for people aspiring to make a career in this industry.

Skills needed in the contemporary banking industry

  • Analytical Skills

In today’s data-driven world, analytical skills top the list of must-have skills for the banking sector. Data analytics skill plays a key role when it comes to analyzing large chunks of data and deriving valuable insights from it. You should be able to identify trends and patterns hidden in the data sets and derive a conclusion from the same.

You should also develop your technical analytics skills by learning software such as Python, excel, etc. Your decisions should not be based on a hunch and it should be backed by reliable data. Data-driven thinking along with strong analytical skills is the only way forward when it comes to excelling in the banking and related sectors.

  • Commercial Awareness

Commercial awareness is all about being up to date with the latest trends and developments in the business world, especially for businesses in the banking and finance sector. The ability to anticipate a financial trend distinguishes a highly successful banker from a mediocre one.

You have to keep up with the market and be able to predict future movements. It’s vital to understand how organizations function and the primary driver for their growth. You need to know everything that might have a financial impact on a business.

  • Stress Management

Technical skills are important but what’s even more important is your soft skill. Emotional intelligence is an interesting concept that emphasizes the need to manage your emotions in the workplace. When you are working in the banking industry, you will be exposed to a lot of uncertainty that might induce and cause stress.

Stress management is critical to succeeding in the banking world. Burnout and stress from work are far too common and can reduce your productivity drastically. Being able to manage stress is one of the most important skills that you can hone.

How does Data Analytics help to Detect, Assess and Prevent Fraud in 2021?

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Fraud is a major problem in today’s digital world. Whether it is data analytics or data sciences, data analytics has become an integral component of fraud prevention. Data analytics is the process of data manipulation to identify patterns and predict trends based on data sets. The data can be in various formats like text, audio, video, images, or even data generated by sensors.

data analytics coursesIn simple words, data analytics is a data-driven approach to help you make better decisions. It helps organizations detect, assess, and prevent fraud in 2021. Data analytics courses are the latest trend among MBA students because data is so important to every aspect of life today.

This blog post will discuss how data analytics can help us detect, assess, and prevent fraud in 2021!

How does Data analytics help to detect, assess and prevent fraud in 2021?

In today’s data-driven world, data analytics has become an integral part of financial services. While data is not new to the industry, collecting and processing it at scale did pose a number of challenges in past years. However, with advancements in technology and data storage capabilities, data analytics as a tool for fraud detection has gained prominence within banks, especially after the 2008 economic meltdown.

Nowadays, organizations are generating large amounts of structured/unstructured data from various sources like customer service calls, social media platforms, etc., which can be analyzed using tools like machine learning, artificial intelligence (AI), predictive modeling, or deep learning algorithms, among others to predict potential threats on their business operations including risk management strategy thereby reducing operational costs & improving profitability by increasing revenue streams through better data-driven decisions.

However, data analytics is not just about data storage and analysis of unstructured data to identify anomalies within the data sets; it also focuses on methods that can be used by organizations to prevent frauds in real-time – a key area where financial institutions are looking at for growth opportunities as demand from millennial customers increases for mobile banking and increased online transactions via e-commerce portals among other channels.

In order to support their digital transformation journey & build a robust risk management strategy, banks and other institutions have started investing heavily into analytics capabilities by hiring data scientists and data analysts to leverage the power of data for fraud detection in real-time.

According to a recent report by MarketsandMarkets, the global data analytics market was valued at $16.06 billion in 2016 is expected to reach $73.47 billion by 2021, growing at a CAGR of 28% during the forecast period from 2017-2021.

Some key areas where data analytics is being used extensively include: 

Customer profiling– understanding customer behavior patterns using unstructured data sets such as social media posts or email communication logs;

Fraud Detection– monitoring transactions on data sources across data systems and data formats to identify suspicious activity;

Risk Assessment– showing the correlations among data sets of different entities within an organization or between organizations.

This is a great opportunity for anyone who wants to learn data analytics, as there are plenty of job opportunities for data specialists.

Learn data analytics with Imarticus Learning

Imarticus Learning offers data analytics courses in India that help professionals from diverse backgrounds understand concepts of data analysis. This course enables you to analyze large amounts of data using various methods such as statistical tools, pattern recognition, etc.

data analytics courses

Thus, you’ll be able to solve complex problems related to web intelligence, predictive modeling & simulation techniques or extract information quickly with minimal time lag through the Business Analytics course.

For more insight, connect with us through the Live Chat Support system or visit any of our training centers based in – Chennai, Mumbai, Thane, Pune, Bengaluru Hyderabad, Delhi, and Gurgaon.

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