Big data is the key for businesses to grow unprecedently, but it is also a considerable expense. As a result, no-code tools have become leverage for SMEs as the budget for IT is relatively limited. Given most no-code tools are cloud-based solutions and do not require additional IT infrastructure, it is significantly cost-effective and flexible for SME businesses to adopt the rising technology. The graphical approach has made it easier for business leaders to oversee data collection, processing, and analysis processes even when they lack technical knowledge. For operational analytics, operational teams can analyze business performance and influence the efficiency of their day-to-day operations.
Experts have anticipated Natural Language Processing (NLP) as the dominant analytics trend for Business Intelligence (BI) in 2023. The launch of ChatGPT meant a technological leap in NLP which has been slowing down in recent years. With the significant advancements in the use and capabilities of NLP including generating SQL from a natural language input, NLP is becoming the mainstream. Decision intelligence, specifically actionable intelligence in business analytics, will continue the momentum. Despite the rise of data mesh for the advantage of domain knowledge, expanding the use of data to inform decision-making within organizations, the concern of data governance has to be addressed.
NetSuite simplifies data management while minimizing installation costs and offering immediate insights and predictive analytics through prebuilt dashboards and reports with an intuitive interface. The first way is to centralize data analysis to boost business insight and productivity, where decision-making will be faster and more effective. Second is the identification of profitable key characteristics, done through data segmentation for pattern identification. Third is the analysis-based strategy for customer retention through historical and multi-year analyses. Fourth is the predictive analytics and consolidated data in generating insights and visualizations to forecast trends. Lastly, migrating data to cloud platforms keeps them secure, accessible, and cost-effective.
Microsoft announced Communities as a new experience that enables people to come together, connect, share, and collaborate. This addition offers a community group space to share information and organize events, such as posting messages to everyone in the group, organizing events, and adding them to the community calendar to facilitate communication. Group members are invited through email address, phone number, or sharing a QR code to join, while community owners can manage settings, set community guidelines, and moderate content. This new function also allows companies to organize and host virtual, hybrid, and in-person community events.
Trial implementation in Measures for Data Security Management in the Field of Industry and Information Technology is in effect as of January 1st, 2023, with new guidelines to clarify how businesses should manage sensitive industrial and telecommunications data in line with the requirements of the Data Security Law. Data is divided into three categories of “core”, “important”, and “ordinary” to take various levels of security precautions when collecting, processing, transferring, and disposing of data. Trial Measures apply to all kinds of enterprises in industrial, telecom, and radio communications fields, especially software and IT service providers and telecom business license holders.
Ride-hailing app Uber and cryptocurrency exchange Gemini suffered data breaches through third-party vendors, highlighting its vulnerability as an entry point for threat actors, and for cybercriminals to conduct targeted social engineering scams and phishing emails. Third-party risk is one of the most overlooked threats in data security. Given that data breaches can bring alarming consequences, additional data protection measures would be vital. It is recommended to review vendor relationships and assess the extent of impact they have on the organization’s security posture.