“Decentralised cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation.”
Are lower international payment costs now possible?
With cryptocurrencies, value can be transferred internationally with speed, and typically at low transaction costs. Currently, however, there are concerns surrounding security and compliance with cryptocurrencies, as they may be difficult or impossible to trace.
The idea of instant value-transfer may be appealing but it can mean errors are difficult or impossible to reverse. The cost of exchanging between cryptocurrencies and government-backed, or fiat, currencies can vary considerably. More generally, crypotcurrencies tend to be volatile in terms of value, bringing additional risk.
A number of innovators are working to address some of the issues surrounding cryptocurrencies to make them more viable for mainstream use and reduce issues and risks.
“If you farm your big data in the right way you can expect increased opportunities and insights providing you with a stronger competitive advantage.”
Big data is a broad term for data sets so large or complex that traditional data processing applications are inadequate. Challenges created by big data include analysis, capture, data curation, search, sharing, storage, transfer, visualization, and information privacy.
How could your business benefit?
+ Conquering your growing data mountain. How you should respond to the challenge of big data will depend upon the data you collect and have available to your business. What’s near certain is that you are both creating and accessing more data than every before. So how can this make a positive difference to your bottom line?
+ Handling data efficiently. The first and most obvious place to start is looking at how you collect and store data, and the back up processes that you have in place. Is your data infrastructure efficient, secure and cost effective? Is it easy to expand or contract your data infrastructure as your needs change? Is your data easily available and properly backed up? For many clients we have been able to reduce infrastructure costs while making their data work harder for their businesses.
+ Getting useful insights. Once you’ve ensured that you are collecting, storing and accessing your data efficiently, the next question is how you can get insights from it that help improve your business performance. Configured properly, your technology should make it easier both to access and to act upon these insights. It is likely that you are already aware of areas where better and more timely access to information could lead to cost savings or opportunities for profit. We can work with you to help ensure your technology delivers the insights you need to drive business performance.
Contact us to find out more about getting business benefit from big data.