General Business - Artificial Intelligence - Big Data
Synopsis
- General Business
- Business Management
- Business Essence
- Industrial Revolution
- Silicon Valley
- Computer Development Phase
- Dartmouth Conference
- Artificial Intelligence
- Class Of Artificial Intelligence
- Machine Learning
- Deep Learning
- Evolution Of Electronic Machines
- Big Data Analytics
- Big Data Processing
- 4 V Of Big Data
- Data Terms
- Data Files Size
- Big Data Touch Points
- Digital Marketing
- Conclusion
- Reference
General Business
1. Sole Proprietorship
2. Partnership
3. Limited Liability Company
4. Corporation
5. Non Profit Organisation
6. Charitable Organisation
Sole Proprietorship
The most common form of business ownership is a sole proprietorship which is a business owned and run by an individual for his/her own benefits.
General Partnerships
In general partnerships, two or more owners invest their money in the business and are equally 100% liable for business debts. General partnerships do not require a formal agreement.
Limited Liability Company
Limited Liability Companies allow partners to limit their individual liability for business debts according to their portion of ownership which is basically based on investments. Limited partnerships require a formal agreement between the partners.
Corporation
The corporation is a separate entity that is considered a legal person. Profits generated by a corporation are taxed as the “personal income” of the company.
Non Profit Organisation
Non Profit Organisations are associations, clubs, or societies that are not charities and are operated exclusively for social welfare, civic improvement, or any other purpose except profit.
Charitable Organisation
Charitable Organisations are either private or public foundations are working towards the relief of poverty, advancement of education, or other purposes that benefit the community.
Business Management
1. Managing Money
2. Managing People
3. Managing Information
Managing Money
*Investments = Investment is the primary capital financing tool in business.
*Cash Flow = Cash Inflow (Consumer buying) - Cash Outflow (Payments).
*Profit = Revenue (Sales) - Expenses (Payments).
Managing People
*Employees = Work for the business.
*Shareholders = Share Investments in the business.
*Stakeholders = Part of business movements.
Managing Information
Business Information Management (BIM) focuses on managing information both hardware and software related to planning, resources, manufacturing, production, financing, taxing, sales, and marketing.
Business Essence
*Business Hypothesis = Based on assumptions and needs logical reasoning for a successful outcome.
*Business Theory = Based on real data which are already logically investigated.
*Business Facts = Based on true and fundamental observations.
*Business Laws = Based on descriptions like how to form and run a business.
Industrial Revolution
The Industrial Revolution timeline includes from Mechanical Revolution to Digital Revolution.
*1784 = Water & Steam Power Mechanical Products.
*1870 = Electrical Energy For Mass Production.
*1969 = Computers, Electronics & Automations.
*20XX = Artificial Intelligence.
Silicon Valley
Studying Artificial Intelligence brings us to Silicon Valley as it is the hub for Digital Revolution. The world's largest Corporations are located in Silicon Valley. The majority of the World's population works for Silicon Valley companies either directly or indirectly (outsourcing). Silicon Valley was named after Silicon which is needed to make Semiconductor Computer Chips. Silicon Valley is a hub for turning innovative companies into a profitable zone. Today Silicon Valley makes a lot of businesses in which businesses are heavily dependent on Computers and Computers are heavily dependent on Semiconductors. These Semiconductors are generally created using Silicon. Semiconductors conduct electricity under some conditions which are employed in various modern electronic devices. Semiconductors' conductivity lies between the conductivity of conductors and insulators. Old generation Computers used Transistors and Diode Circuits while modern computers use Integrated Circuits (IC).
Diode = A Semiconductor device in which current flows in one direction.
Transistor = A Semiconductor device that transfers weak signals from a low resistance circuit to a high resistance circuit.
IC = A Semiconductors device made up of several components of various types like transistors, diodes, resistors, and capacitors which are pre-wired into a specific circuit having a specific function that it performs. An IC can now have as few as two components to hundreds of billions of components in it and soon the IC-making technology will likely be able to put hundreds of trillions of components in one IC and the ultimate limit is still uncertain.
Computer Development Phase
*1990s = Web 1.0 = Readable Web = Read Only Web = User can read Informations.
*2000s = Web 2.0 = Writable Web = Read - Write Web = User can read and generate Contents.
*2010s = Web 3.0 = Executable Web = Read - Write - Execute = Computers can interpret the informations for humans via Artificial Intelligence and Machine Learning.
Google, Amazon, and Salesforce provide Cloud Computing for developers to create Web Apps for their users to connect them to any devices anytime and anywhere which is the starting stage of the Web 3.0 era.
Dartmouth Conference
In 1950, Alan Turing founded the "Turing Test" (Imitation Game) concerning his paper "Computing Machinery and Intelligence" with the question "Can Machines Think?”. Turing Test was the earliest AI model to determine whether computers can act intelligently like Humans requiring that a Human should be unable to distinguish Machine from another Human by using the replies to questions put to both. In 1954, Alan Turing died due to cyanide poisoning.
In 1956, the Dartmouth conference gave birth to AI. The term "Artificial Intelligence" was coined by John McCarthy. It was a conference organised by Marvin Minsky, John McCarthy, Claude Shannon, and Nathan Rochester of IBM. The proposal for the conference meant that "every aspect of learning or any other feature of intelligence can be so precisely described that a machine can be made to simulate it”. At the conference, Newell and Simon debuted the "Logic Theorist” paper which discussed automated reasoning.
Artificial Intelligence
*Natural Language Processing (Google Translate).
*Speech - Image - Gesture Recognition (Mac Siri, Deep Dream).
*Recommender Systems (Netflix, Prime, Hot-star, Zee5, Sony Liv).
Class Of Artificial Intelligence
Two types of Artificial Intelligence are Weak Artificial Intelligence and Strong Artificial Intelligence. Examples of Weak Artificial Intelligence are Industrial Robots, Mac Siri, Amazon Echo, and Google Assistant. Strong AI where machines can function equally like Humans is in the stages of research and development. A subset of Artificial Intelligence is,
*Machine Learning = Based on Algorithms.
*Deep Learning = Based on Neural Networks.
Machine Learning
Machine Learning provides the ability to systems to automatically learn and improvise from experience without being precisely programmed. Machine Learning consists of four types,
1. Supervised Machine Learning
2. Unsupervised Machine Learning
3. Semi-Supervised Machine Learning
4. Reinforcement Learning
Supervised Machine Learning
*Classification = When the output variable is a category. Example - “Fever” / “No Fever”.
*Regression = When the output variable is a real continuous value. Example - Share Price Prediction.
Unsupervised Machine Learning
*Clustering = Discovering the inherent groupings in the data. Example - Grouping mammals based on some characteristics.
*Association = Discovering association rules. Example - People buying Chocolate also tend to buy Juice.
Semi-Supervised Machine Learning
The Algorithm combination will contain a very small amount of labeled data and a very large amount of unlabelled data. It is programmed to use the existing labeled data to label the rest of the unlabelled data.
Reinforcement Learning
The system learns from a series of reinforcements in which positive ones are known as rewards while the negative ones are punishments.
Deep Learning
Deep Learning is a model which will be able to learn without human supervision drawing from data that is both labeled and unlabelled. It is a representation learning which consists of Neural Networks called Perceptrons.
Evolution Of Electronic Machines
No one can run and hide away from technology as we are designed to be part of it. Modern technology is heavily based on electronics and data storage. Let's have a glimpse at the list of widely accepted theories on the evolution of electronics and remember that there were later developments from each of the electronics foundations,
*Tally Sticks = Ancient memory aid device to record and document messages which were used during Roman Empire and Inca Empire.
*Printing Press = Johannes Gutenberg introduced the mechanical movable type printing press in 1450 which was a boom to print media.
*Punched Cards = In 1801, Joseph Jacquard demonstrated a chain of multiple cards punched with holes that determine which cords of the fabric warp should be raised for each pass of the shuttle.
*Camera = George Eastman introduced Kodak Cameras in 1888.
*Radio = Invented by Guglielmo Marconi in 1901 who broadcasted the first transatlantic radio signals.
*Television = Basic TV system was designed by Philo Taylor Farnsworth in 1927.
*Xerox = Photocopying was introduced by Xerox Corporation in 1959
*ROM = Read-Only Memory semiconductor chips were produced by Sylvania Electronics for Honeywell in 1965.
*Touchscreen = Eric Johnson invented the touch display in 1965.
*Compact Cassette = Philips introduced a magnetic tape for audio recording and playback in 1965.
*DRAM = Dynamic Random Access Memory chips were introduced by IBM in 1968.
*Internet = J. C. R. Licklider developed ARPANET to connect people and data from anywhere at any time in 1969 which gave birth to the Internet.
*Floppy Disks = Magnetic storage medium introduced by IBM in 1971 after long research from 1967.
*Mobile = First Mobile was demonstrated by John Mitchell and Martin Cooper of Motorola in 1973.
*Personal Computer = Micro Instrumentation Telemetry System introduced the first PC named Altair 8800 in 1974.
*Compact Disk = CD was co-developed by Sony and Philips in 1982.
*Laptop Computer = Introduced by Toshiba in 1985 using floppy disks with no hard drives.
*WWW = World Wide Web invention made the Internet connection easier and it was invented by Tim Berners Lee in 1989 at CERN.
*Tablet = GRiD Systems introduced GRiDPad 1900 Tablet with a tethered pen resistive screen in 1989.
*Digital Printer = Introduced by Indigo Printer in 1993 by Benny Landa.
*USB = Introduced by Intel in 1995, easier to connect external devices to PCs by replacing the multitude of connectors at the back of PCs.
*Pen Drive = Introduced by IBM in 1998 which replaced floppy disks.
*Cloud Computing = Introduced by Amazon Web Services in 2006.
*Strong Artificial Intelligence = In the development phase.
Big Data Analytics
2. Website Analytics (URL Clicking / Buying)
3. Sales Data (Selling / Transactions)
4. Advertising (Communicating)
5. Marketing (Branding)
Big Data Processing
*Data Acquisition = Selection = Select the data set.
*Data Warehousing = Repository = Store the selected data set.
*Data Mining = Preprocess = Clean the stored data set with errors.
*Data Confirmation = Design = Model the cleaned data with algorithm patterns.
*Data Visualisation = Infographics = Visualise the confirmed data set.
*Data Reporting = Action = Final interpretation of the refined data set.
4 V Of Big Data
*Volume = Huge size of Data is analysed and processed where the size is larger than Terabytes and Petabytes.
*Velocity = Speed with which the Data is generated.
*Variety = Classify the incoming Data in various sets as structured, semi-structured, and unstructured data.
*Veracity = Quality of the data is analysed where meaningless abnormal data set is referred to as noise.
Data Terms
*Quantitative Data = Based on counts or measurements Data.
*Qualitative Data = Based on descriptions and observations Data.
*Metadata = Data about the Data.
*Data Set = Collection and organisation of Data.
*Database = Electronic storage and manipulation of Data.
*Tabular Data = Data structured into rows in a table.
*Correlation Data = Cause and effect of Data.
*Data Bias = Collection or Analysis of Data with predetermined ideas, prejudice, or influence.
*Data Breach = Data is stolen from a system without the knowledge of the Data owner.
Data Files Size
*1 Bit = Binary Digit
*8 Bits = 1 Byte
*1024 Bytes = 1 KiloByte
*1024 Kilo Bytes = 1 MegaByte
*1024 MegaBytes = 1 GigaByte
*1024 GigaBytes = 1 TeraByte
*1024 Tera Bytes = 1 Peta Byte
*1024 Peta Bytes = 1 Exa Byte
*1024 Exa Bytes = 1 Zetta Byte
*1024 Zetta Bytes = 1 Yotta Byte
*1024 Yotta Bytes = 1 Bronto Byte
*1024 Bronto Bytes = 1 GeoByte
Big Data Touch Points
1. Online Advertisements
2. E-Commerce Website
3. Mobile Applications
4. Email Subscriptions
5. Company Events
6. Product Reviews
7. Loyalty Programs
8. Social Media
Digital Marketing
Big Data plays an important role in Digital Marketing as each day information shared by consumers on digital platforms is increasing significantly. With the support of Big Data, market giants can analyse the movement of consumer activities in depth. Digital Marketing is a technology-based vital marketing tool for connecting consumers through the technology to promote sales and services with IoT. Various tools of Digital Marketing are,
*IoT = Internet of Things = System of interrelated computing devices with the ability to transfer data over a wireless network without human interventions.
*PPC = Pay Per Click = Advertisers pay a fee each time one of their ads is clicked. It is a tool for buying visits to websites rather than earning those visits organically.
*SEO = Search Engine Optimisation = Process of optimising websites that will appear in noticeable positions in the organic results of search engines.
*Banner Ads = Image-based rectangular graphic display that stretches across the top, bottom, or sides of an online website.
*Email Marketing = Emailing potential consumers to promote products or services.
*Integrated Marketing = Communication mediums like advertising, sales promotion, public relations, and social media are centered on promoting products to consumers.
*Content Marketing = Technique of creating and distributing valuable content to attract a defined audience.
*Affiliate Marketing = Promoting X company products on Y company website and Y company earns a commission by making consumers buy X company product.
*Google Analytics = Free web analytics tool to analyse companies' website traffic.
Conclusion
1. Business depends on Management.
2. Management depends on Computers.
3. Computers are evolving to Artificial Intelligence.
4. Artificial Intelligence depends on Big Data.
5. 21st century is the era of the Digital Revolution and moving towards Artificial Intelligence shortly will put humans on an evolutionary path that will forever change our existence.
Reference
Business Meaning
Machine Learning Introduction
Documentary On AI - 1
Documentary On AI - 2
Documentary On AI - 3
Silicon Valley History
Big Data Insights - 1
Big Data Insights - 2
Artificial Intelligence Introduction
Homo Sapiens And Artificial Intelligence
Age Of Artificial Intelligence Series
World Wide Web Basics
4 V Of Big Data
Disk Storage Information
First Radio Transmission Sent Across Atlantic Ocean
Mobile History
Accenture On Cloud Computing
Accenture On Artificial Intelligence
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