(Dark) Data: Market Trends

If you are interested in knowing what is happening in the world of Dark Data, Data Compliance, AI, Data Quality and other data issues, feel free to browse the information below.

Here you can read materials written by independent writers. This should give you a good insight into why and how Ixivault, our app to uncover your (dark) data, fits within this market and is a solution to your (dark) data problems.

Enjoy the read!

How AI, data analytics could help identify insurance fraud

People are becoming more sophisticated in perpetrating fraud—filing claims online and operating from around the world, people are approaching fraud digitally and at higher frequencies. Fortunately, there are new methods, using artificial intelligence, that eases the burden and helps insurance companies stay one step ahead.

The right AI can help insurance companies detect fraud as it occurs, and can help connect data sets that would usually be siloed.
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Companies are losing revenue and customers due to AI bias

New survey finds that 80% of U.S. firms found problems despite having bias monitoring or algorithm tests already in place. These same organizations are already feeling the impact of this problem as well in the form of lost customers and lost revenue. In addition to measuring the state of AI bias, the survey probed attitudes about regulations. Surprisingly, 81% of respondents think government regulations would be helpful to address two particular components of this challenge: defining and preventing bias.
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Dark data creates a black hole of carbon emission: report

Massive sprawls of dark data pollute data centers worldwide; deleting data waste could help to reduce the carbon footprint of digitalization.
Digitization can be part of the solution to climate change but storing digital data that is never used can also consume an enormous amount of energy and, as a result, produce carbon dioxide that need never have been wasted.
According to a report by Veritas about 5.8 million tonnes of CO2 will be unnecessarily pumped into the atmosphere as a result of powering the storage of this kind of data this year alone. In order to protect the planet from this waste, businesses need to get on top of their data management strategies, use the right tools to identify which data is valuable, and rid their data centers of ‘dark data’.
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Bringing Dark Data to Light: How to Handle the Next Great Business Resource

Dark data is a hot topic in the field of data management. Many perceive it as scary and aren’t sure where to start in making it something of value. To back up, dark data is defined as data collected during business operations that otherwise goes unused. This unmanaged content is difficult to monitor, meaning it’s hard to notice when information has been replicated, leaked, tampered with, lost, or stolen. It’s easy to understand the ominous nature of the discussion around it.
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“Everyone wants to do the model work, not the data work”: Data Cascades in High-Stakes AI

AI models are increasingly applied in high-stakes domains like health and conservation. Data quality carries an elevated significance in high-stakes AI due to its heightened downstream impact, impacting predictions like cancer detection, wildlife poaching, and loan allocations. Paradoxically, data is the most under-valued and de-glamorised aspect of AI. In this paper, we report on data practices in high-stakes AI, from interviews with 53 AI practitioners in India, East and West African countries, and USA. We define, identify, and present empirical evidence on Data Cascades---compounding events causing negative, downstream effects from data issues---triggered by conventional AI/ML practices that undervalue data quality. Data cascades are pervasive (92% prevalence), invisible, delayed, but often avoidable. We discuss HCI opportunities in designing and incentivizing data excellence as a first-class citizen of AI, resulting in safer and more robust systems for all.
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Avoiding Data Disasters

Things can go disastrously wrong in data science and machine learning projects when we undervalue data work, use data in contexts that it wasn’t gathered for, or ignore the crucial role that humans play in the data science pipeline. A new multi-university centre focused on Information Resilience, funded by the Australian government’s top scientific funding body (ARC), has recently launched. Information Resilience is the capacity to detect and respond to failures and risks across the information chain in which data is sourced, shared, transformed, analysed, and consumed.
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Data Classification Market to Grow at a CAGR of 27.6 % to reach US$ 3,577.4 Million from 2020 to 2027

The data classification is a tool that classifies enormous data into varied tabs to maximize most out of it while maintaining the privacy of confidential data. The commercialization of data protection laws such as GDPR and Health Insurance Portability and Accountability Act (HIPAA) is directly linked to impact the scope of data classification worldwide. Growing business data and cloud migrations, ramp up of personal data identification, threat to privacy in email, leverage of machine learning, and converge of data management and data protection are among the factors that play a significant role in accelerating the scope of data classification.
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5 Challanges of Big Data Analytics in 2021

In today’s digital world, companies embrace big data business analytics to improve decision-making, increase accountability, raise productivity, make better predictions, monitor performance, and gain a competitive advantage. However, many organizations have problems using business intelligence analytics on a strategic level. According to Gartner, 87% of companies have low BI (business intelligence) and analytics maturity, lacking data guidance and support. The problems with business data analysis are not only related to analytics by itself, but can also be caused by deep system or infrastructure problems.
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Blog: Dark Data (European Mathematical Society)

This blog of the European Mathematical Society, Adhemar Bultheel addresses in what kind of situations we are dealing with dark data? He describes, with many examples, fifteen different phenomena that can lead to dark data.
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Illuminating Insights Hidden in Dark Data

How can your organization derive value and reap benefits from the dark data using advanced analytics and techniques like AI, Deep Learning, and NLP?
In this post, by Vivek Sinha Vice President, Technology of Globallogic, he explores the benefits and challenges of activating dark data and share examples of how dark data is delivering meaningful value.
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Blog: Dark data – the hidden gold

A blog on Similarly, dark data is data that sloshes around in our databases, file systems and clouds without being put to any use because we either don’t have the means to mine it, or we don’t even know it exists.
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Presentation: Control Dark Data in the New Age of Compliance and Security

A Bloomberg presentation on dark data and the risks associated with it.
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Book: Dark Data – Why what you don’t know matters

This book explores the Achilles heel of data science. Going beyond the data you have, it examines the data you don’t have, illustrating with many real-life examples how lack of awareness of what you are missing can lead to distorted understanding, incorrect conclusions, and mistaken actions.
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What is dark data? (a clear explanation)

We've heard of big data or small data, but what is this concept of dark data?
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Dark Data: Why What You Don’t Know Matters

In this talk, Professor David Hand will speak about his book Dark Data: Why What You Don’t Know Matters. The book explores how lack of awareness of what you are missing can lead to distorted understanding, incorrect conclusions, and mistaken actions.
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Lighting up Dark Content

The data science community likes to speak of dark data and how they, as experts, can bring tremendous insight to any business by simply shining their analytical light on those hidden bits, bytes, and characters.
So, what constitutes dark data?
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