Will Insurance Companies Survive The Ai Fueled Future Essay

Will insurance companies survive the AI fueled future? The picture of future, painted by the brushes of present technology can be breath taking, but will it literally take your breath? The answer lies on how far we can secure our lives in the future and what we can put insurances on. The insurance industry has always been a must-operate field in business. This is a result of human safety and its high priority. Although, in recent decades, it appears that means of accidents on which insurance plays, are changing drastically. Hence, it seems that the insurance business has to change its course quite a bit if not completely. Let’s take a look at what’s affecting this fledged industry and its future. IOT and the course of futurism Internet of things, commonly referred to as IOT is creating a spider web of network anywhere and everywhere. Think about the potentiality of common things like your bed, TV, shelf or even the rigid walls of your house being connected to a smart network that works to keep everything aligned. In 2008, there were already more things connected to the Internet than people. By 2020, the amount of Internet-connected things will reach 50 billion. ( Cmo.com ; http://www.cmo.com/articles/2015/4/13/mind-blowing-stats-internet-of-things-iot.html ) Sounds futuristic! The fore fronted IOT innovations that are materializing at present are driverless cars, automated manufacturing and automated transportation. These innovations are shedding light on theShow MoreRelatedMonte Carlo Simulation218872 Words   |  876 Pagesconnection between a price and an expected discounted payoï ¬â‚¬ is developed in Section 1.2.1. Let S(t) denote the price of the stock at time t. Consider a call option granting the holder the right to buy the stock at a ï ¬ xed price K at a ï ¬ xed time T in the future; the current time is t = 0. If at time T the stock price S(T ) exceeds the strike price K, the holder exercises the option for a proï ¬ t of S(T ) − K; if, on the other hand, S(T ) ≠¤ K, the option expires worthless. (This is a European option, meaningRead MoreFundamentals of Hrm263904 Words   |  1056 PagesEstablishing Rewards and Pay Plans 260 Employee Benefits 286 Ensuring a Safe and Healthy Work Environment 312 PART 6 Chapter 14 LABOR–MANAGEMENT ENVIRONMENTS Understanding Labor Relations and Collective Bargaining 340 Endnotes 367 Glossary 389 Company Index 395 Subject Index 398 v Contents PART 1 UNDERSTANDING HRM Chapter 1 The Dynamic Environment of HRM 2 Learning Outcomes 2 Introduction 4 5 Understanding Cultural Environments 4 The Changing World of Technology What Is a Knowledge WorkerRead MoreCrossing the Chasm76808 Words   |  308 Pagesa number of the companies that served as examples in the original edition of Crossing the Chasm. Reading through its index brings to mind the medieval lament, â€Å"Where are the snows of yesteryear?† Where indeed are Aldus, Apollo, Ashton-Tate, Ask, Burroughs, Businessland, and the Byte Shop? Where are Wang, Weitek, and Zilog? â€Å"Oh lost and by the wind-grieved ghosts, come back again!† But we should not despair. In high tech, the good news is that, although we lose our companies with alarming frequencyRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesCONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5 Read Morepaul hoang answers72561 Words   |  291 Pageseach relevant factor that is identified in the context of Reload. b) Problems that Reload might encounter include: †¢ †¢ †¢ Rivals such as Subway and Delifrance are better known multinational companies with wellestablished customer networks. This presents a problem for a relatively small company such as Reload from entering overseas markets where such rivals exist. By locating in a different continent, Reload will need to establish itself with new suppliers who are reliable in providingRead MoreLibrary Management204752 Words   |  820 Pages. . . . . . . . . . . . . . . . . . . . 176 Coordinating Mechanisms . . . . . . . . . . . . . . . . . . . . . . 177 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179 9—The Structure of Organizations—Today and in the Future. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181 Bureaucracies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182 Mechanistic Organizations . . . . . . . . . . . . . . . . . . . . . 185 Organic Systems . . . . .Read MoreThe Social Impact of Drug Abuse24406 Words   |  98 Pageson the workplace . . . . . . . . . . . Implications of rural and urban poverty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marginalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Future challenges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 42 42 43 44 10 14 21 24 29 3 4 6 7 8 VII. Recommendations addressed to the World Summit for Social Development . 45 Introduction Prepared

The Story Of The Colonies - 914 Words

As I sit way in the back I do not grasp your attention . I am nothing but a buzzing fly that can be easily ignored. Ignored I will no longer be. I will continue to destroy property and start disruptions until I am notice. Until my voice is the loudest among all colonist. We, as less fortunate citizens, came to these colonies to get a new experience and branch away from total rule by the British. However, when something goes wrong we run back as if we are little children. There comes a time where we have to let go of this and no longer run back. We must learn to take a beating and let that be a lesson to ourselves that maybe it is time to do something different. We can not grow as a colony if we continue moving this way; that is exactly†¦show more content†¦Ã¢â‚¬Å"Man being born, as has been proved, with a title to perfect freedom, and an uncontrolled enjoyment of all the rights and privileges of the law of nature, equally with any other man, or number of men in the world...† I do not feel equal in any way, shape, or form. Therefore, I will demand liberty from both the Patriots and Loyalist because I am just as important to this colony as all of you are. The women, slaves, and landless labors all contribute in some aspect rather it be big or small. We buy your goods, shine your boots, farm your land, and much more. If we were to stop with our services, this colony will slowly start to fail. Locke believes that the people have every right to overthrow things we are not in agreeance with. As it is stated in his From Second Treatise Government â€Å" salus populi suprema lex†, which translates â€Å"The good of the people is the supreme law†. Every decision you make affects every class of people differently. For this reason, every decision is not for the good of the people but for your own personal well being. The people can not be just you elites. The people are also those who do not have a fair say in how things are conducted within this Provincial Congress. You have to make decisions that will better the colony as unit. We must progress to a long and fruitful future. At this point, you have realized that the mob is capable of much. We caused such an upheaval with the StampShow MoreRelatedLove and Hate in Jamestown838 Words   |  4 Pagesthe Jamestown colony survived in the New World. Price supports this thesis by describing the people that inhabited the New World with the settlers at Jamestown, describing the leadership skills Smith possessed, and describing his method for saving the colony from disaster. Price wants to portray Smith and Pocahontas in the correct light, and correct the common misconception that the two were romantically involved. Price expresses this through an excellent narrative telling the story of the shipsRead MoreDisadvantages And Advants Of Captain John Smith Vs. Jamestown Vs717 Words   |  3 Pages Choosing a colony is harder than it looks! Both colonies are a good choice, but only one can be chosen. Of course you want to join the colony that has the most advantages which will benefit you in the long run, so I will be comparing and contrasting both colonies to list the benefits you want. Bradfords colony won’t abandon you and will embrace you as a family member. While on the other hand, if you are on Captain John Smiths Crew you will get to travel the sea and claim new territory, but ifRead MoreBook Review: Our Iceberg Is Melting1015 Words   |  5 Pagesmake clear goes much deeper than the surface story of a colony of penguins in search of answers pertaining to their survival on an iceberg. He easily describes a scenario through a penguin colony that any person can relate to and think about in a more in-depth manner. The fable is entertaining and interesting and deals with how a penguin colony deals with change that has become inevitable if they are to survive. The story revolves around a penguin colony in Antarctica living on an iceberg. The icebergRead MoreCritical Analysis Of The Myth Of Pocahontas1365 Words   |  6 PagesJamestown colony was faced with extreme times of difficulty from 1608 to 1609. Smith was instrumental in the endurance of his colony during that year of difficulty through his leadership style (Tyler 27). Smith participated in battles in his early years whereby he served as a soldier in French and Dutch armies as well as a general in the Transylvanian army. Owing to his notable successes in battle, he was considered as one of the members of the council that would eventually govern the colony by theRead MoreSimilarities Between Jamestown And Plymouth Colonies992 Words   |  4 Pagesharder for them to build colonies and thrive. This is because they came across many unexp ected hardships that they were not prepared for mentally and physically. In this essay, I will talk about two different groups that migrated to America and how they adjusted to the new land and the new way of life. The colonies of Jamestown and Plymouth Plantation both had many similarities and a few differences when they came to America in the journey to build more and more colonies. When Jamestown had decidedRead MoreHistorical Steps Toward Religious Liberty824 Words   |  4 PagesWhat follows is a skimpy sketch of some things you should know. There were three types of colonies: Charter: The king grants a license to run a colony on â€Å"his† land in America. Proprietary: The king gives land and all rights to run a colony to an individual or a group. The colony then belongs to the proprietor(s). Royal: The king owns the colony. Though religious freedom is often cited as the reason for people migrating from England to America, it is too simplistic. It is more accurate to sayRead MoreRip Van Winkle by Washington Irving Essays755 Words   |  4 PagesRip Van Winkle by Washington Irving When superficially read, Washington Irvings short story Rip Van Winkle seems to be a simple tale of an unhappily married man whose happy-go-lucky, carefree attitude gains him loving adoration from the village women, children, and dogs; but only scorn from his wretched wife. However, when read more closely, the story takes on an entirely different meaning. Through his constant references to Dame Van Winkle and her turbulent relationship with Rip, IrvingRead MoreThe Year Of 1776 By David Mccullough1242 Words   |  5 Pagesthat year. During this time, he explains how the colonies of North America decide to break away from England and the â€Å"absolute tyranny† of King George III. McCullough is unique by introducing people with major impact on the conflict of the revolution such as King George III and George Washington as well as a large selection of lesser known people that one would normally just grace over which included certain citizens who either worked in the colonies o r was apart of the revolution. Interestingly, thisRead MoreColonial America And The Revolutionary War1110 Words   |  5 PagesColonial America’s history from European settlement to the revolutionary war is a story that is best understood when told from multiple perspectives. It is a history that is not one of just the European immigrants, but also the African Americans and American Indians as well, with each ethnic group playing their own role in the development of the region. Although each group’s perspective may not be the same, their collective history is what makes Colonial America. Thus, through analyzing the variousRead MoreA Kingdom Strange By Dr. James Horn1736 Words   |  7 Pagesseller is, â€Å"A Kingdom Strange: The Brief and Tragic History of the Lost Colony of Roanoke†. He is also the editor for five books on colonial and early American history. â€Å"A kingdom strange† by Dr. James Horn was copyright and published in the United States o f America in March of 2010. A kingdom strange is a book that shares the political events along with other events that took place in 1587, which led to the lost English colony of the Roanoke Island. Horn’s reason to choose this topic to write on

Blockbuster Business Analysis - 1092 Words

Table of contents 1 Introduction The rental movie market is a high competitive and dynamic market, dominated for several years by Blockbuster, with its pioneer business model of delivering convenience to the costumers looking for home entertainment. The company was a model for the industry during the 80’s, 90’s, but with the new age of online movies, the consumer behavior changed drastically, and other companies, as Netflix and Redbox, providing online content and innovative services, started to dominate this new market. Nowadays, Blockbuster’s business model seems to be obsolete, since the company could not keep up with the changes, almost closing the doors in 2010 when a bankruptcy process was open, the†¦show more content†¦This report will be showing below the SWOT Analysis for Blockbuster: 4.2 GAP Analysis The GAP analysis consists in a framework describing, and identifying the major changes and solutions, for what the company are pursuing to achieve with the new strategy. The chart below presents the GAP analysis for Blockbuster, considering the needs for the new business online model: 4.3 Cost-Benefit Analysis According to Wikipedia, Cost-Benefit Analysis â€Å"†¦ is a systematic process for calculating and comparing the benefits and costs of a project, decision or policy.† The main objective is to justify investments, and to provide a basis for projects comparison and analysis. For Blockbuster, the main strategic changes are related to prepare the company for the new online market, and the chart below will be presenting the main solutions/initiatives for it: 5 Conclusion This report showed that theShow MoreRelatedEnvironmental Impact Analysis: Analysis of Blockbuster Llc1128 Words   |  5 PagesBlockbuster revolutionized the video rental industry. Founded in 1985, by David Cook, the company became the leader of the video chain industry by 1988 (Wooldridge, B. R., Matulich, E., Riddick Jr., J. C. 2007; â€Å"First Blockbuster,† 2012). However, by September 2010, Blockbuster filed for section 11 bankruptcy (Ahmed, 2011). The external changes in the market forced Blockbuster to reassess its business model and ultimately lead to the bankruptcy decision. An analysis of Blockbuster’s organizationalRead MoreBlockbuster Netflix Case Analysis1533 Words   |  7 PagesDEPARTMENT OF ACCOUNTANCY MEMORANDUM SUBJECT: Blockbuster/Netflix Case Analysis Introduction In this memorandum, I will analyze the competitive environment that Blockbuster and Netflix faced, state the key income statement and balance sheet accounts for each firm and use ratios (including DuPont model) to draw comparisons between the two firms in 2008. Competitive Environment Blockbuster is an American-based chain of VHS, DVD, Blu-Ray, and video gameRead MoreBlockbuster Case Analysis Essay1003 Words   |  5 PagesBlockbuster Case Analysis I. Strategic Profile and Case Analysis Purpose: The Blockbuster firm is a leading provider of rental movie and game entertainment with approximately 8,000 stores. The company operates in the US, Europe, Latin America, Australia, Canada, Mexico and Asia. Blockbuster is headquartered in Dallas, Texas and employs 58,561 people; this figure includes full-time, part-time and seasonal employees. The company recorded revenues of $5,287.9 million during the financial yearRead MoreThe Marketing Strategy Of Blockbuster Essay1111 Words   |  5 PagesVHS movie they wanted to feature. Blockbuster was the movie and video game rental store that became a weekly stop for movie viewers. The concept was well accepted by Americans because they loved the flexibility and convenience of renting movies, rather than individually purchasing each film they wanted to view. By 2004, there were 9000 Blockbuster locations in America. As of October 4, 2016, there were only seven Blockbuster stores still operat ing. How did a business that was worth over $5 billion justRead MoreCase Study : Video Concepts, Inc.1091 Words   |  5 Pages Business Communication Assignment Case Analysis and Report Writing Case report on Video Concepts, Inc. Submitted to: Professor Indra Nityanandan Submitted by : Vikram Choudhary Section- A Executive Summary Chad Rowan, an Entrepreneur by choice has been interested in doing business. He decided to start hisRead MoreManagement Is The Application Of A Structured Process1489 Words   |  6 PagesOne extraordinary example of the failure to innovate was one of the largest DVD rental companies, Blockbuster. With a huge high street presence and intense customer loyalty, Blockbuster really was a household name. The company commanded enormous resources at its peak and were primed to lead the market with an innovative digital offering. By failing to innovate with their digital, the business, it’s high rents and overheads started to lose ground to DVD postal services and early stage streamingRead MoreBlockbuster Case Analysis1311 Words   |  6 PagesPoint of View The group decided to view this case as potential investor of Blockbuster Entertainment Corporation Case Context Blockbuster Entertainment Corporation reported posted earnings in 1998 of $15,498,000 on revenues of $136,893,000. This resulted into a net income per common and common share equivalent of $.58 earnings per share. (Exhibit 2) A closer look at figures posted for the periods ending 1997 end 1996 would show a dramatic increase in revenues and its equivalent earningsRead MoreSummary of Major Risks and Factors that Blockbuster has Faced and Will Face in the Future517 Words   |  3 PagesSummary of Major Risks and Factors that Blockbuster has Faced and Will Face in the Future The purpose of this case study analysis is to summarize major risks and factors that Blockbuster has faced and will face in the future, and to recommend how Blockbuster should prepare and set their business strategies to gain competitive advantage and market share in their industry. In the early days of the establishment of Blockbuster, the CEO of their company set up a good image ofRead MoreBlockbuster Analysis : Blockbuster Llc1616 Words   |  7 Pages Blockbuster LLC Ethan Yoo HMD 307 Blockbuster LLC Introduction Blockbuster LLC first came into existence in 1985 as Blockbuster Video in Dallas, Texas. Its founder, David Cook was a computer programmer whose experience was helpful in inventory activities and in determining which genres of films were the most saleable and rentable. Soon shares in the firm were purchased by a firm called Waste Management, which then initiated the company’s expansion, believingRead More Blockbusters Place in the Current Movie Rental Market Essay1411 Words   |  6 Pagesinternet hurt Blockbusters dominance in the movie rental business and if it has what will they have to change in their business plan to regain their market shares? This case has studied the influence of new technologies for delivering movie rentals along with downloading movies directly to your television at home without a customer even getting off their couch. It also examines the impact DVD recorders are going to have on Blockbusters main products like DVD players and VCRs. The case tal ks about

Effects of Lack of Education - 627 Words

Effects of Lack of Education Intro: Thesis: Lack of education keeps a people oppressed In the Narrative of the Life of Frederick Douglass: An American Slave, Frederick Douglass portrays to the readers how lack of education can keep a people oppressed. Frederick Douglass believed that all men are created equal, and he also knew that people must make themselves what they want to be. Because of this fact, Frederick Douglass discovered that education and self-improvement were extremely important aspects in a slave’s journey to freedom. According to Frederick Douglass, the worst thing about slavery was that it prevents a people form improving themselves through education. Frederick Douglass said, â€Å"Once you learn to read, you will be forever free†. Frederick Douglass strongly believed that lack education was the primary component that kept slaves in bondage. Frederick Douglass strived towards expanding his knowledge though reading and writing. The white slave owners were aware of the power of education; therefore they kept their slaves ignorant. In Dougla ss’ narrative, he talks about how his mistress in Baltimore began teaching him to read. His slave master becomes outraged upon finding out that Douglass is being educated. He says, If you ever teach that nigger how to read, there would be no keeping him. It would forever unfit him to be a slave, (Douglass, 31). Douglass’s master was aware of the fact that education is vital; education is freedom. He refers to this as, theShow MoreRelatedExtreme Poverty : Causes, Effects, And Solutions902 Words   |  4 PagesExtreme poverty is an issue in many countries all over the world. There are several causes, effects, and solutions to this issue. Extreme poverty is living on under two dollars a day, migration, violence, lack of education, diseases, starvation and exploitation. Colombia is a country where there are people living on two dollars a day. A country where they are not getting the education that they need. In Colombia, about 30 percent of the population are living in extremeRead MoreHome Schooling1155 Words   |  5 PagesCauses and Effects of Home Schooling Children Imagine that a child is approaching the age when he or she will begin schooling. So many questions are racing through a parents mind. Is the child going to receive the best education possible? Can all of the child’s emotional, psychological, and intellectual needs be met at public school? Questions like these are the reason why, so many parents around the country have chosen to take education into their own hands. Parents lack confidence in publicRead MoreMajor Challenges Facing Higher Education859 Words   |  4 Pages Major Challenges Facing Higher Education in Saudi Arabia In Saudi Arabia, the Ministry of Higher Education in 2015 became a part of the ministry of education once again. After King Salman became a king, he issued a royal order in 2015 to merge the Ministries of Higher Education and The Ministry of Education (New Saudi King, 2015). It is now only called The Ministry of Education (MOH). By 1938, oil was discovered in huge amounts in Saudi Arabia and by 1950 there were 365 schools educating 42,000Read Moreeffect of lack of computer1319 Words   |  6 PagesStudy and Its Background Introduction Several complaints regarding the lack of sufficient school facilities have been a great concern nowadays at Polytechnic University of the Philippines in Santa Rosa Campus. With regards to this, certain components like lack of computers, improper lighting and poor air quality affects the overall academic performance of the students. The purpose of this study is to discuss the effects of lack of computers in the laboratory of the said school which greatly affectRead MoreGrowing Up Of Poverty : An Important Aspect That Maintains An Individual s Place Essay842 Words   |  4 Pagesbreaking. Poverty not only prevents you from getting a good and quality of life but it also gives you mental pressure leading to depression and anxiety. Growing up in poverty causes many effects. Economic, Social and psychological effects are seen in an individual raised in poverty resulting in Poor Health, lack of education and even teen pregnancy. Condition where a person can’t fulfill his basic needs due to not enough availability of resource and money is termed as poverty. Growing up in the environmentRead MoreThesis Statement : Hispanic Latino Ethnicity843 Words   |  4 Pagesrates amongst all minorities influenced by a lack of bilingual education programs, low participation in early childhood education programs and a lack of respect for the Hispanic/Latino culture are leading contributing factors to their continued high dropout rate. I. Many people in the United States are in denial as to the impact of the growing Hispanic/Latino population. A. In the coming decades, Hispanic/Latinos will continue to have a significant effect on the work forces as they will account forRead MoreThe Effects of Early Marriage Among Young Adults872 Words   |  4 PagesTHE EFFECTS OF EARLY MARRIAGE AMONG YOUNG ADULTS. Young adults may endure misery as a result of early marriage. Until more is known about their situation there can be no reliable estimates of the scale of their predicament, or of the social damage that is carried forward in the upbringing they give to their own children. One thing is clear is the impact of early marriage on girls and to a lesser extent on boys. Early marriage may bring negatives effect such as, psychosocial disadvantages, hardshipRead MoreCause and Effect of Teen Pregnancy1043 Words   |  4 PagesCause and effect of teen pregnancy Teenagers suffering health problems is high Many teenagers will try to hide the pregnancy from their parents and teachers, in doing this they do not get the initial medical attention required during the first months of pregnancy. It is estimated that 33% of teenage pregnancy fail to receive necessary prenatal care. The lack of prenatal care leads to increased risk of anemia, miscarriage, and high blood pressure to the teenager. Many teenagers will hide theirRead MoreCauses of Street Crime746 Words   |  3 Pagesmale psyche more prone to violence than the female? And how effectively can a criminal tendency be treated with drugs? What different lights can literature and science shed on these questions? Effect of street crime Most street crimes are rarely committed by big criminal organizations but its effects have a strong influence in society.In this essay, Ill examine some causes and give solutions for this problem. Unemployment is one of the main causes.Unemployment leads to crime such as pick-pocketingRead MoreThe Effects Of Abstinence Based Programs On Actual Behavior Outcomes Essay1439 Words   |  6 PagesAdditional research has explored the effects of abstinence based programs on actual behavior outcomes. Kohler, Manhart, and Lafferty (2008) compared the effects of abstinence-only and comprehensive sex education programs, operationalizing effectiveness in terms of initiation of sexual activity and teen pregnancy rates. They found that teenagers who received comprehensive sex education rather than abstinence-only or no education were significantly less likely to report a teenage pregnancy. In addition

Business Intelligence with Data Mining Free Essays

Business Intelligence with Data Mining Abstract Banking and finance institutions are growing very fast in this globalization era. Mergers, acquisitions, globalization have made these institutions bigger. No doubt, the data also grow real huge and more varied. We will write a custom essay sample on Business Intelligence with Data Mining or any similar topic only for you Order Now Big data storage such as data warehouse and data marts are provided to give a solution on big data storage. On the other sides, those data are needed to be analyzed. Business intelligence finally comes in as a solution in analyzing those huge data. Business intelligence especially with data mining can create a solution in further decision making. With various tools and techniques, data mining has been proven in many aspects of business. Hidden informations that stored inside either data warehouse or data marts can be gained easily. In example, those hidden informations are market and economy trens, competitor trends, competitive price, good products and services and also can provide better customer relationship management. There is still one benefit in business intelligence with data mining that this paper will focus on, i. e. risk management and frauds and losses prevention. One of product from banking and finance institutions is credit loans. It is really a high risk business, but with business intelligence with data mining especially classification and clustering techniques, it can be maintained and implemented safely and of course with low risks, minimized frauds and losses and increased profits and revenues. Keywords : Banking and Finance, Business Intelligence, Data Mining, Risk Management, Credit Loans Introduction Banking and Finance institutions are growing rapidly nowadays. For one institution, there are more than one offices or branches in one country or even in different country. Globalization, mergers, acquisitions, competitions, market changes are some of the reasons behind why are they growing fast. As those banking and finance institutions grow, so do the data. In this case, banking and finance institutions probably have much more data than other institutions. Every single customer or people has one or more accounts in one institution or more. The challenge is how to maintain those data easily, how to make good decision among those data, how to create good product for customers and how to retain good customers that can bring much more profits and increase revenues. For those that can not maintain data and make a decision for further movement without analyze the data before will find it hard to be success or even lose in competition with other banking and finance institutions. Some of key success factors in banking and finance institutions, such as : 1. Customer satisfaction Good customer management and good product are the key to satisfy customer. If the institution could manage the customer well and offer good product that can produce benefit to both sides then it will guarantee customer will be very satisfied. 2. Customer loyalty There is no guarantee that satisfied customers will be loyal. Strategies and tactics are needed to retain those customers. 3. Increased profit revenue Similar with business institutions, gaining profit and increase revenue are the most important thing. 4. Minimal risk With many customers, banking and finance institutions need to analyze the risks that probably could happen. Not all of customers are good customer. Fraud or loss might happen. 5. Readiness for new markets to increase customer Markets are changing rapidly. Winning the competition means winning the customer. Offered products are the key here such as higher interest, free admin cost etc. 6. Efficiency of operations Since banking and finance institutions have several branches and many customers, the challenge is to make operations in daily transactions become efficient. Problems in Banking and Finance Institutions Similar with other institutions in business, banking and finance institutions also have some of problems in their business. Below are some of those problems : 1. Separated data instance Data are separated through branches all over the place. The banking and finance institution will find it hard to collect and analyze the data. This will also impact in decision making because decision should be made after analyzing all of the data. . High risk Banking and finance institutions have many customers and not all of those customers are good customer. Need to find out whether the customer is realible or not. 3. How to detect fraud and prevent loss Frauds and losses might happen in banking and finance institutions. Fraud in credit loans will cause loss to the institution. 4. How to create good customer relationship To compete in the market and winning customer, banking and finance institutions need to create good customer relationship to satisfy customers and make them loyal. 5. How to create good product Product is one the aspect that customers consider. Create a good product and can compete with others product will impact in customer winning. 6. How to find the hidden information inside those data to ease the decision making Huge data are needed to be analyzed and there are some hidden informations in those data that could affect the decision maker in making the decision. If the decision made is crucial one, it could lead to future success. Business Intelligence Business Intelligence can be defined as an ability of an enterprise to comprehend and use information in order to increase the performance. Business intelligence has several activities, procedures and applications. Some of those that mostly used are : Data Warehousing, Data Marts, OLAP Tools, tools for Extract Transform and Load (ETL), Information Portals, Data Mining, Business Modelling, etc (Katarina Curko, 2007). Business Intelligence can also defined as the process of gathering high-quality and meaningful information about the subject matter being researched that will help the individual(s) analyzing the information, draw conclusions or make assumptions (Muhammad Nadeem, 2004). In this paper, we shall focus more in data mining. Data mining works with data warehouse and data marts for data storage and extract transform and load (ETL) tools. Some of advantages by using business intelligence with data mining: 1. Gain profit and revenue for enterprise With business intelligence, the enterprise can gain the data access easily and integrated inside data warehouse data marts. So the enterprise can service customers better and quicker which will impact in profit and revenue increment. 2. Decision making With data mining in business intelligence, the enterprise can gain the hidden informations in those huge data and can make quick and easy decisions. . Expand the market segment With the ease of decision making, the enterprise can make decision in markets such as price, discount, etc which will impact in winning the market competition. Data Mining Data mining refers to computer-aided pattern discovery of previously unknown interrelationships and recurrences across seemingly unrelated attributes in order to predict a ctions, behaviours and outcomes. Data mining, in fact, helps to identify patterns and relationships in the data (Bhasin, 2006). Some of goal examples in using Data mining: 1. Forecasting market price With data mining, enterprise can predict the market price and decide on the best price to compete the price in market. 2. Cross-selling and up-selling analysis Data mining can be used to analyze market based on products. It means enterprise can make cross-selling or up-selling to their products to optimize or increase the sales. 3. Profiling customers Data mining can be used to segment customers depends on the category. For example we categorize customers by their profit or revenue. 4. Manage customer retention Not only enterprises data, data mining can be used to manage customer data which will impact in better customer relationship management. [pic] Figure 1. Overview of Business Intelligence with Data Mining Source of data that we shall process come from various sources such as customer data, market data, transaction data, product data, service data etc. As mentioned above, those huge and heterogeneous data will be stored in data warehouse and data marts. Before entering either data warehouse and data marts, those data will be extracted, cleaned up and sometimes transformed into different types of data. Then it will load the results into data warehouse and data marts. In this data warehouse and data marts, the data will be stored. Once the user want to analyze the data using data mining, the system will gather the data stored in data warehouse and data marts. With some of slicing and dicing techniques, data mining process the required data and resulting in enterprise reports. With these reports, management of enterprise then decides what to do next. Data Mining Techniques According to (Larissa T. Moss, 2003), data mining itself has many models and various methods in analyzing data. When to use one of these models or methods depend on the requirements. Below are some of those models or methods : †¢ Associations Discovery Is used to identify the behaviour of specific events or processes. Associations discovery links occurrences within a single event. Example of use in discovering when a person buys a toothbrush then may also buy a toothpaste or a person buys a cigarette may also buy the lighter. †¢ Sequential Pattern Discovery Is similar to associations discovery except that a sequential pattern discovery links events over time and determines how items relate to each ther over time. Example of use in predicting a person who buys a couple sets of computer may also buy a switch or router within three months. †¢ Classification Is the most common data mining technique. Classification looks at the behaviour and attributes of predetermined groups. Data mining tool can classify to new data by examining the existing data that has been classified before. Ex ample of use in classifying characteristics of customers. †¢ Clustering Is used to find different groupings within the data. Clustering is similar to classification except that no groups have yet been defined at the outset of running the data mining tool. Clustering divides items into groups based on the similarities the data mining tool finds. Clustering is used for problems such as detecting manufacturing defects or finding affinity groups for credit cards. †¢ Forecasting Is used to forecasting market or forecasting products in manufacturing enterprise. Comes in two types: regression analysis (predict future based on whole past trends) and time sequence discovery (predict future based on time-dependent data values). Business Intelligence in Banking and Finance Banking and finance in this paper, is the institution that require to adapt in globalization, flexible in market, keep growing, create innovations to gain more customers that will increase profit and revenue. The challenging questions is how to achieve those requirements. Those institutions also do risk management to handle frauds and losses. With high profit and revenue, it will be useless if the institution can not handle possible risks, in this case frauds and losses are the most possible risks. They need customers but after customers increased so do the risks. So the possible way is to manage those risks. The same question as above, how to make the risk management easily and cover up all the risks. With business intelligence, all of those things can be achieved. Banking and finance institutions can depend on business intelligence in many aspects. Efficiency of analyzing the data, detection of frauds and losses, risk management, customer management and product management are some of these aspects. Striving for success, banking and finance institutions always trying to create new innovation either in products or services. Mergers and acquisitions have inevitable made those institutions have really huge and heterogeneous data. Impossible to maintain those data without new technologies (Katarina Curko, 2007). Using Data Mining as Solution in Credit Loans for Banking and Finance As mentioned above, this paper will focus more on data mining in business intelligence. After discussing the benefit of business intelligence in banking and finance institutions, at last we go to the last important question, how to extract the hidden informations from those huge and heterogeneous data. In this section, we shall focus more on how to predict frauds, losses and risks that might happen in credit loans. Being able to predict risks, frauds and losses are the main concern these days in banking and finance institutions. Credit loans nowadays have been growing rapidly. Almost every single shop or business center allows payment with credit card, but we shall focus more on credit loans such as loan for business, vehicle etc. Credit loans have been the most interesting product for banking and finance institutions. Many customers are looking for credit availability to help them financially. With the credit interests, the banking and finance institutions gain profits. Quite interesting business when they can offer credit and gain the profit from the credit interests, but the most important question is how to guarantee that the customer is a good one or at least make sure the customer will pay back including the credit interests so those institutions will not get frauds and losses. We can say to prevent frauds and losses is a kind of risk management. Risk management really is a crucial step to do especially in banking and finance institutions. Risk management in banking and finance institutions itself covers many aspects such as liquidity risk, operational risk and concentration risk. Today, integrated measurement of different kinds of risk (market and credit risk) is moving into focus. These all are based on models representing single financial instruments or risk factors, their behaviour, and their interaction with overall market (Dass, 2006). We shall focus more on credit risk. Credit risk assessment is key component in the process of commercial lending (Dass, 2006). The institution has money to lend but to decide which customer or borrower is not an easy matter. We shall learn more about the customer or borrower, find their background, their market transaction, their current income, and in more extreme way is learning their current life. To make those tasks possible, we can use classification or clustering in data mining technique. These data mining tools can provide a grouping of customer or borrower. Let’s say there are three groups of customer or borrower that we want to manage. First, high valued customers, middle valued customers and low valued customers. Before put customers into those groupings, there are many things to consider and analyze. Different institutions use different kinds of classification and analysis. But in general, things to consider and analyze are customer background, customer history transaction, customer credit history, customer account at another banking or finance institution, customer income. Those are from credit customer or borrower perspective. They also consider and analyze market and economy trends to calculate and manage the possible profit gained before make a decision to lend or give the credit. [pic] Figure 2. Overview of Data Mining Process (Classification Clustering) in Credit Loans With these data mining tools, the analyst from those institutions can easily decide to approve the credit or not. Logically, analyst or management inside institutions will decide to lend or approve the credit requested by customers in high valued customer then it goes down until low valued customer. But not all decisions are correct, many aspects can cause wrong decision such as incomplete data or unconsistent data of customers, market economy trends changing, or other aspects. But these tools surely help a lot to do risk management in credit loans which will impact in minimized rauds and losses and increased profits and revenues. Conclusion Banking and finance institutions have so many products and services offered to customers. One of those are credit loans. Credits that offered to customers or borrowers are not directly approved if one of the customer or borrower makes a request of credit. Many aspects to consider and analyze. With business intelligence especially with data minin g including data warehouse and data marts, those important aspects are collected, stored and analyzed. Specifically we use a couple of data mining technique i. e. classification and clustering. The purpose is to group the customer or borrower into groups that are easily to read and analyzed by institution analyst or management to ultimately decide to approve the requested credit or not. In this paper we suggest three groupings of customers or borrowers such as high valued customer, middle valued customer and low valued customer. Analyst or management also analyze the market and economy trends beside customer aspects. In the end, these business intelligence and data mining tools are used to ease in decision making to make the best decision for whole enterprise. References Journals: [1] Dass, R. (2006). Data Mining In Banking And Finance: A Note For Bankers. Indian Institute of Management, Ahmedabad . [2] Katarina Curko, M. P. (2007). Business Intelligence and Business Process Management in Banking Operations. Information Technology Interfaces . [3] Muhammad Nadeem, S. A. (2004). Application of Business Intelligence In Banks (Pakistan). CoRR . Textbooks: [1] Bhasin, M. L. (2006). The Chartered Accountant, Banking and Finance, Data Mining: A Competitive Tool in the Banking. Oman. [2] Larissa T. Moss, S. A. (2003). Business Intelligence Roadmap: The Complete Project Lifecycle for Decision-Support Applications. Addison Wesley. How to cite Business Intelligence with Data Mining, Papers

My Educational Goals and Future Aspirations Essay Example For Students

My Educational Goals and Future Aspirations Essay With humility and hopefulness, I apply for the Dream Fund Bursary. My name is Kayla Lajeunesse. I am currently in grade 12 attending Frank Hurt Secondary, an inner-city school in the Newton neighbourhood of Surrey, BC. I have an Honour Role standing, and maintain active involvement in my school and community. In everything I do, I feel the need to push beyond my capabilities, to reach above and beyond. Since I first began school, Ive enjoyed it. From kindergarten to grade 7, I attended George S. Vanier Elementary in the Surrey School district. In grade 8, I transitioned into Frank Hurt Secondary, the nearest high school. Over the last five years at Frank Hurt, I have not only enjoyed school, but learned to take it seriously as an opportunity to enrich my future. From Planning 10, I have realized that education is the path to a good life. Your whole future depends on it. I knew immediately that I wanted to pursue post secondary Education. Last year my passion for continuing education was further inspired by my experience in a concurrent studies course at Kwantlen Polytechnic Universitys Surrey Campus. I believe in lifelong learning; I believe if you are not learning, whether it is ËÅ"life learning or formal schooling, you are not living up to your highest potential. I have had many constructive influences that have shaped my enthusiasm for social work. I believe that the role of a social worker can make a difference. Even if it is a small thing, like helping to get dental work, or advocating for the betterment of the child. If you are a social worker you have the privilege to empower strong decision-making that can help enhance a childs life. I want to be a life advisor, a fearless women, and a life-saving person. As I consider where to pursue my post-secondary education I have shared many conversations with people I trust. With confidence, I have decided to work towards a career in social work. After discussing possible options with family, teachers, social workers, youth workers and counselors it became clear that social work aligns with both my values and skills. Intent on making this dream possible, I have already applied to the University of the Fraser Valley. This decision enables me to stay within a short distance from the school, and maintain proximity to family. I value both my time and family, and these considerations are central to my decision. In the future, I want to be a social worker in order to give back, and help kids. Over the last three years, I have had my share of foster parents and social workers that have not had time or resources to meet my needs. I do not want to sound like social workers do not care, I understand that these are many issues within the system that prevent social workers from doing the job right. Because of my experiences, I hope to be the type of social worker that wants to be there; that takes the time to listen; that gets to know the children; and advocates for a system that will benefit everyone in the end. I have seen first hand children that have been exposed to traumatic experiences. Some children have needs that arent being met and this leaves me in heart wrenching pain. To see someone go through such a significant struggle inspires me. I have been there, with nothing: My only wish is to give back what I have been given. Because of my experiences, I will be the type of social worker that wants to be there; that takes the time to listen; that gets to know the children; and advocate for a system that will benefit everyone in the end. My Challenges and Obstacles For the last three years, I have been in the foster care system. Before then, I lived in an abusive home and spent my grade 8 year living out of a car. During this time, my mom would bring me to her friends houses to shower, and once left me at a classmates house for three weeks. Some days I missed school because she could not afford the bus fare to get me there. Essay On Character In Ragtime El DoctorowMore than a motivating form of exercise and art, the team environment of cheer has enriched my understanding of sharing space with others. Understanding how to physically and socially work together is an important part of a successful cheer team. I have been captain of my school cheer team for the past two years and my community cheer team for the last seven. As captain, I model the skills of cheer as a sport and model communication that builds community and respects my teammates. I have noticed that the way that the senior cheerleaders treat the team and sport shapes the development of the juniors. Perhaps my greatest achievement is the strong mentor relationships I share with my foster siblings. I have been a supportive shoulder for my younger foster siblings. I have seen first hand children have needs that are not being met. This leaves me in heart wrenching pain. To see someone go through such a significant struggle inspires me. The children in the care home that I am living in have to fight the temptation each day to conquer their self-limiting beliefs because it is just that, that keep them from achieving their full potential. I take on the role of big sister for them, I care about and for them: I advocate for them. The children of my community are a part of me. Recognizing my strengths as a peer mentor, my current youth worker encouraged me to volunteer at Options Community Centre. It is a place where children can go and connect with youth in a safe and supportive environment. From baking to reading, and conversation to play I developed healthy relationships with the children in the community. My experiences growing up have given me unique insight into how important even the simplest childhood experiences are. I have harnessed my own power to create good things for myself and my community and I am honoured to have had the opportunity to pass them on. Over the last year, I have volunteered in Morgan Heights Crossing, a local seniors residence. One particular resident at Morgan Heights Crossing suffers from dementia. One afternoon, I was lost in a constant struggle solving mathematical problems and this female resident spoke eagerly asking what I was doing, and if there was anyway that she could help take some of the pressure off. She mentioned that she had been a high-school math teacher for many years. She explained how teaching math is something that she has always had a passion for. Helping me work through the problems, I succeeded in finishing my worksheet. To me, it was a struggle, and for her it needed to be fixed. Experiences like this give me hope that I will be able to share my gifts and passions. What began as service I was giving became a lesson I received. Through all my service, I notice my own growth and acknowledge the gifts others have to offer. The diversity of my experiences and successes continue to shape who I am. Along with the experiences I have shared, I have been a peer tutor in the BASES special education class; involved in Cadets, Global Issues Club, Run for Cancer; and as volunteer with EJS School of Fine Arts Musical Theatre. I value all the opportunities I have had to enrich my life and contribute to others. I look forward to continuing to develop my sense of self, recognizing that the successes and achievements I gain are gifts I can share back with my community.