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IBM Unveils New Enterprise Intelligence Analytics to Fight Cybercrime as Losses Hit $445Bn

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IBM has unboxed a new solution that provides deep analysis across hundreds of terabytes of disparate data to uncover hidden criminal activity in just seconds.

The solution unveiled at the ongoing IBM Insight 2014 in Las Vegas, Nevada, USA is a high-speed analysis and criminal investigation software that is designed to uncover hidden criminal threats buried deep inside massive volumes of disparate corporate data.

IBM i2 Enterprise Insight Analysis (EIA) can find non-obvious relationships masked within hundreds of terabytes of data and trillions of objects in just seconds.

By fusing together these multiple data sources, organizations can gain complete visibility into threats across the enterprise, giving companies the ability to transform how they protect themselves from increasingly sophisticated attacks.

Organizations across industries face endless threats from cybercrime and other criminals in pursuit of private customer information, employee records, financial data and intellectual property.

The Center for Strategic and International Studies (CSIS) estimates that cybercrime costs the global economy $445 billion each year.

But companies are overwhelmed with an increasing volume and diversity of data to protect, giving cybercriminals the ability to hide their covert activity for months after an attack.

The proliferation of connected devices and machines – from mobile phones to smart cars to remote oil rigs – only compounds the problem by opening new avenues for criminals to penetrate the enterprise.

Operating at high speeds and massive scale, i2 Enterprise Insight Analysis accelerates the data-to-decision process by uncovering new insights into criminal threats against the enterprise that intelligence and security analysts might otherwise not have realized for days, weeks or months later. EIA analyzes huge amounts of disparate data to discover weak-signal relationships that reveal the true nature and source of an attack.

The solution unravels these hidden connections that can be divided by as many as six degrees of separation between disparate sources – from corporate records and social media chatter to data accessed by remote sensors and third-party applications.

As developments unfold, EIA provides always-on recommendations that proactively alert analysts to new related abnormalities at the speed of attack.

For example, consider a national retailer that hasn’t yet realized hundreds of its customers’ credit card account numbers have been stolen and sold on the black market.

Any illegal transactions can be easily lost in the noise of typical day-to-day activity – such as a transaction denial, a billing dispute or multiple purchases at the same store.

But when connected together, EIA can immediately spot commonalities that reveal the specific store branches that were breached.

This insight allows the retailer to take action before millions of accounts are compromised and any significant damage is done.

“Organizations can’t afford to take a reactive approach to cyber defense, nor can they do it alone. The speed of threat is too great, and today’s attackers are far more technically advanced, proficient and organized than ever,” said Maria Vello, president and CEO of The National Cyber-Forensics & Training Alliance (NCFTA), a non-profit role model organization for collaboration, information and resource sharing between public and private organizations in the fight against cybercrime.

“Threat analysts and investigators need the ability to look at every possible data set and relationship – no matter how distant or unrelated they may seem – and be able to make key associations and correlations in seconds. The new IBM i2 offering is an impressive tool in its ability to quickly analyze these massive data sets in near real time to paint a complete picture of the threat.”

Built on IBM Power Systems, IBM i2 Enterprise Insight Analysis can complement existing security or fraud solutions with additional features, such as:

Enhanced visualization capabilities: With multi-dimensional visual analytics, investigators can gain a better understanding of an attack by visualizing a comprehensive situational overview of all possible related elements for a more easily digestible viewpoint.

Open, modular architecture that scales as needs change: IBM i2 Enterprise Insight Analysis is fully customizable with fast integration with third-party applications and features, such as natural language processing and complementary analytics at the tactical, operational and strategic levels.
    
Interoperability inside and outside the organization: The open design not only integrates with existing infrastructure and other apps  but also allows users to easily share critical threat information across the company and with partners, customers and other organizations.
    
Out-of-the-box functionality: Out-of-box functionality reduces the training, maintenance and deployment costs while allowing organizations to quickly begin protecting their infrastructure.

“While most organizations understand how big data can help prevent the ever increasing threat of cybercrime, they are so overwhelmed by massive data volumes that they can’t act fast enough to turn it into meaningful intelligence to stop criminals,” said Bob Griffin, General Manager, i2, Threat and Counter Fraud, IBM.

“With IBM i2 Enterprise Insight Analysis, we’ve changed the ability of investigators to find that illusive needle in a haystack that helps them detect a cyber attack. This provides any organization with always-on analytics that turns massive amounts of data into real-time insights in a way that simply wasn’t possible before.”

IBM has established the world’s deepest portfolio of Big Data and Analytics technology that spans research and development, solutions and software. IBM has invested $24 billion to build its capabilities in Big Data and Analytics through R&D and more than 30 acquisitions. Today, more than 15,000 analytics consultants, 6,000 industry solution business partners and 400 IBM mathematicians are helping clients use big data to transform their organizations.


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E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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