Limitations of the proposed implementation:
Although there are a lot of advantages of adopting a Hadoop-based approach, there are disadvantages too. In this section, I have highlighted some of the limitations that are related to the use of Hadoop. Below is a comprehensive list:
1. Security Concerns: Data security is the primary concern of a financial institution like a bank. It needs to protect its customer information, their transactional data and their unstructured data in the form of emails and social media information. Hadoop system is highly transparent to the users which enables it to hide the complexity associated with its implementation. By default, the security model of Hadoop is disabled due to its sheer complexity. It also lacks encryption at storage and network levels. Because a financial institution cannot afford any sort of lapse in security, the bank has to make sure that an appropriate solution has to be found before going ahead with the implementation. A prospective solution maybe to enable the security on Hadoop but this
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And this was just the structured data. When you factor in the growth due to the unstructured data as well, it could get to 1 PB in the next five years (maybe less). To remain on top of this growth of data it would be beneficial for the bank to plan for the future. This way they can stop the problem from going out of hand. It would be beneficial for the bank to use Hadoop because it is open source and also because it is compatible with a range of analysis and BI tools. This gives the bank an opportunity to try tools that would suit its growth of data. Apache has kick started it’s Apache Drill project for interactive analysis of large scale data sets. I am not sure if they have release the product for the customers but it is compatible with a wide range of distributed file systems including Hadoop. This can be a good alternative for Impala
The 1933 Banking Act, also known as the Glass-Steagall Act in reference to the legislation’s sponsors Carter Glass and Henry B. Steagall, was a statue enacted by the 73rd United States Congress which created the Federal Deposit Insurance Corporation (FDIC) and separated investment banking from commercial banking. The act established clear delimitations between commercial and investment banks, and made it illegal for them to operate in conjunction. Federal Reserve member banks were banned from dealing in non-governmental securities for customers, underwriting or distributing non-governmental securities, investing in non-investment grade securities for themselves, and affiliating with companies involved in such activities. Concurrently, investment banks were prohibited from accepting deposits.
In their work, Plato and Paulo Freire have offered harsh critiques of education and learning. Plato compares people to prisoners in a cave of darkness in relation to knowledge, and Freire refers to a “Banking Concept” of education in which teachers put their thoughts and information into students’ minds much like the deposition of money into a bank. Instead of this money being of value, Freire and Plato acknowledge that the value declines. Although many people refute the concept of accepting new knowledge and admission of mistakes, I claim that both Plato and Freire produce valid points about the corruption of education because people cannot learn unless they have an open mind and truly desire to learn. Ultimately, what is at stake here is the effectiveness of learning and continuing the cycle of education.
The Federal Reserve (Fed) creates and manages some of the most important economics policies in the world. Its current chairman, Janet Yellen is considered one of the most powerful people in the world because of the decisions she over sees. One of the biggest decisions that Federal Reserve has to make is what to do with the short-term interest rate. To comprehend that question one must look in to the two factors that go in that decision. Those to factors are referred to as the dual mandate. So what exactly does the dual mandate entail of?
However, Oracle provides a couple of systems that can be utilize. The Oracle Business Intelligence Foundation Suite and Oracle Exalytics are two in-databases analytics that can process and analyze vast quantities of data. Oracle Exalytics is an “in-memory analytics machine”. The Oracle Exalytics server provides in-memory analytics that can compute “capacity, abundant memory, fast storage, and fast networking options and also supports direct attached storage options”. Oracle Exalytics provides faster access to memory due to it “several terabytes of DRAM”. This system works hand and hand with The Oracle Business Intelligence Foundation Suite. Due the higher optimization provided by Oracle Exalytics, The Oracle Business Intelligence Foundation Suite provides greater functionality experience for an end user. Some of the suite features include monitoring, hoc queries, and interactive dashboards including mobile app optimization, unifying fragment systems, and providing “a one mind single version of the truth.” Oracle Business Foundation Suite can capture non-oracle and oracle data. In addition, the suite can maintain and withstand thousands of end users accessing applications simultaneously. Oracle Business Intelligence Foundation Suite and Oracle Exalytics provide vital and essential benefits in the world of Big
In 1962, Milton Friedman wrote the essay “Should There Be An Independent Central Bank?” Since then, half a century has passed. Nowadays, many countries in the world have their independent central banks. But the discussion about whether central banks should be independent does not end. This paper will try to 1) provide the arguments on both pros and cons whether central banks should be independent; 2) provides evidence about the relationship between central bank independence and inflation in developed countries, developing countries and transition countries.
The first advantage of interest income is interest income is more sustainable and high quality of earning to a bank from loan, share financing, hire purchase and others. The interest from a loan is a fixed interest agreed to charge by a bank to the borrower with a certain period of time. If the borrower is responsible, the repayment will be made in a due date with the actual amount. The hirer, the person who has option to buy goods in accordance is required to pay the monthly installment to the bank under the hire purchase agreement. This kind of payment is sustainable as the hirer has already signed the agreement with the bank. The goods will be obtained by bank if the hirer
The cloud storage services are important as it provides a lot of benefits to the healthcare industry. The healthcare data is often doubling each and every year and consequently this means that the industry has to invest in hardware equipment tweak databases as well as servers that are required to store large amounts of data (Blobel, 19). It is imperative to understand that with a properly implemented a cloud storage system, and hospitals can be able to establish a network that can process tasks quickly with...
Poor Database Application Design: A poor database design can lead to severe performance issues. An application which uses large tables (e.g. table with 100000 rows and 100 columns), ill-formed and un-optimized queries, improper use of database connections and so on.
You may ask what big data analytics is. Well according to SAS, the leading company in business analytics software and services describes big data analytics as “the process of examining big data to uncover hidden patterns, unknown correlations and other useful information that can be used to make better decisions.” As the goal of many companies which is to seek insights into the massive amount of structured, unstructured, and binary data at their disposal to improve business decisions and outcomes, it is evident why big data analytics is a big deal. “Big data differs from traditional data gathering due to that it captures, manages, and processes the data with low-latency. It also one or more of the listed characteristics: high volume, high velocity, or high variety. Big data comes from sensors, devices, video/audio, networks, log files, web, and social media which much of it is generated in real time and in a very large scale.”(IBM) In other words, companies moving towards big data analytics are able to see faster results but it continues to reach exceptional levels moving faster than the average person can maintain.
Some of the arguments in the article say that the reason why people are in debt is because expenses are higher now than they were in the 1970 's. Another argument is that we are living in a materialistic place, especially in California and New York. Everybody wants to look good and have the best, so they use their credit card to make these expenses. Some arguments blame teens for using credit cards. Teens already use credit cards and spend money. Banks and financial institutions are also blamed for the rise in credit card debt because they lower monthly payments on credit cards. Others just think that Americans are comfortable with having credit card debts.
A market economy is a society that is industrialized. For example, there are factories and workers that make goods. But a society does not need capitalism to be industrialized. A market economy is where there are people who compete. They try to get money by themselves and only for them. They are money greedy and the want it all. This is a goal and this is what a market economy focuses on. But even though society is industrialized, they have limits. They are controlled by the government. For example, Social Security is controlled by the government. When the government controls, institutions do not have many rights. For social security, there are qualifications and these qualifications are made by the government. But the poor face more problems than the rich. For example, the rich have more power and control the ways there
Despite the numerous advantages offered by cloud computing, security is a big issue concerned with cloud computing. There are various security issues and concerns associated with cloud computing, among them being phishing, data loss and data privacy. There are different mitigation measures that cloud pioneers are currently using to ensure data stored in the cloud remain secure and confidential as intended. Encryption is one mitigation method used to ensure security in cloud computing. According to Krutz and Vines (2010), encryption involves coding of the data stored in the computing cloud such that hackers cannot gain access to the data. Data encryption seems to be the most effective method of ensuring security in computing (Krutz and Vines, 2010). However, it is of paramount importance to note that encrypted data is usually difficult to search or perform various calculations on it.
Several types of cloud storage systems have been developed to supporting both personal and business uses. Cloud storage also a model of networked enterprise storage where the data is stored not only in the user's computer, but also in virtualized of storage, which generally hosted by third parties company.
As the world has recently passed through the global financial crisis that begun in 2008 in the USA with the banks’ collapsing, analysts are giving different opinions and making new economic hypothesizes about the origin of, as well as the process of different countries escaped from the crisis. Among all these new “theories”, the case of Islamic banks is interesting in terms of its nature and consequences. In my essay, I will try to highlight the basic principles of the Islamic finance, the reasons of the restriction of interest, the most important tools used by Islamic banks in economic activities and brief explanation of them, and finally my view point of the probable future improvement of the Islamic financial system.
The Traditional Theory of Banking In this paper author review the traditional theory of banking and attempt to examine the theoretical reasons for why banks exist. As a financial intermediation, the natures of the banks are to provide financial services and conduct the intermediary functions in the whole financial system by accepting deposits and making loans. The question raised here are how they conduct these roles and why the borrowers and lenders do not come together without the banks for the saving of intermediation costs, why both of the two parties are ready to pay for their services and what’s the value added by the banks? The paper proceeds as follows. Section 2 offers a traditional view of banks and describes the nature of them.