Big Data is playing a huge role in medical research—some even believe it will be instrumental in finding a cure for cancer. Though in its early stages, harnessing the power of Big Data obviously has the potential to change medical research in a major way.
The National Institutes of Health apparently agrees. This week, the NIH announced funding for the establishment of six to eight investigator-initiated Big Data to Knowledge Centers of Excellence. The funding will be for up to $24 million per year for four years.
“The centers will improve the ability of the research community to use increasingly large and complex data sets through the development and distribution of innovative approaches, methods, software, and tools for data sharing, integration, analysis and management,” Scientific Computing reports.
As we approach the peak of hurricane season, catastrophe modeler RMS has warned that storm surge poses a greater risk than hurricane wind.
RMS says its updated North American hurricane model shows there is a 20 percent chance that storm surge loss will be greater than wind loss for any U.S. hurricane that makes landfall. And for the northeast coast of the U.S. the risk is even higher.
Dr. Claire Souch, vice president, model solutions at RMS says:
Our model shows there is a 20 percent chance that storm surge loss will be greater than wind loss for any U.S. hurricane that makes landfall, which rises to almost 40 percent along the northeast coast of the United States – this is a risk the market can no longer afford to ignore.”
RMS’ updated North Atlantic hurricane model suite includes the ability to fully quantify the risk from catastrophic hurricane-driven storm surge.
There is no doubt that companies understand the importance of business intelligence (BI) to supporting the efficient and effective running of the organisation.
Continued economic uncertainty and major industry-changing dynamics like mobility and the shift to digital business put a premium on data and information. Whether it's optimising processes, improving customer service, increasing the accuracy of marketing initiatives, breaking into new markets, or seeking ways to get ahead of the competition, firms recognise that getting the right data to the right person at the right time is a key prerequisite to business success.
However, recognising the importance of data and analytics is one thing. Actually putting in place the processes and tools required to deliver data and analytics in the most efficient and appropriate way to meet the needs of business decision-makers is a different matter:
Cloud data storage and disparate privacy laws could be hampering companies fighting cyber attacks, according to Seth Berman, UK executive managing director of digital risk management and investigations firm, Stroz Friedberg.
He urged organisations to review cloud services contracts to prevent valuable time being lost when responding to a data breach incident.
“Companies are forced to fight attackers on multiple geographic fronts, but the complexities of the internet cloud and a patchwork quilt of data privacy laws means a prompt response is often difficult,” said Berman.
Cyber incident response plans must take into account any potential restrictions to access, but providers are rarely set up to support a victim's needs to obtain forensic images of their own servers.
Heightened regulatory scrutiny and greater concerns over risk governance have led financial institutions to elevate their focus and attention on risk management, a new global survey from Deloitte Touche Tohmatsu Limited (DTTL) finds. In response, banks and other financial services firms are increasing their risk management budgets and enhancing their governance programs.
According to Deloitte’s eighth biennial survey on risk management practices, entitled ‘Setting a Higher Bar,’ about two-thirds of financial institutions (65 percent) reported an increase in spending on risk management and compliance, up from 55 percent in 2010.
A closer look at the numbers finds, though, that there is a divergence when it comes to the spending patterns of different-sized firms. The largest and the most systemically important firms have had several years of regulatory scrutiny and have continued their focus on distinct areas like risk governance, risk reporting, capital adequacy, and liquidity. In contrast, firms with assets of less than $10 billion are now concentrating on building capabilities to address a number of new regulatory requirements, which were applied first to the largest institutions and are now cascading further down the ladder.
Online threats and cyber crimes increase with intensity and complexity almost daily. Couple this with the fact that nearly all business functions rely on the Internet and IT in some way, and you have big reasons to fear a failure in your company’s online defenses.
The Department of Homeland Security has identified five main questions that c-level executives should consider when addressing cyber risks. These points are presented in the IT Download, Cybersecurity Questions for CEOs. The informative document covers these key questions and others that company leaders must evaluate in their organization to ensure company data and systems are safe from attack—questions that many executives never think to ask of their IT security team, such as:
- How many cyber incidents do we detect in an average week?
- How and when is executive staff notified of a breach or attack?
- What are our current risks to attack?
According to the document, company leaders should take an active role in risk management discussions:
LINCROFT, N.J. -- Just as every home should have a smoke alarm, every home should have an emergency supply kit packed and ready. Being prepared doesn’t have to cost a lot of money.
“Although federal, state and local governments are ready to assist the public during times of emergencies and disasters, you should be prepared to take care of yourself and members of your family for the first 72 hours – that’s three days – following a disaster such as a hurricane, severe winter storm or an ice storm,” said Gracia Szczech, FEMA’s Federal Coordinating Officer for New Jersey. “A big part of disaster preparation is knowledge and FEMA has developed a comprehensive guide to help folks prepare.”
FEMA’s disaster preparedness website, www.ready.gov is a destination site for information about getting your family prepared for a disaster.
Commercially available disaster kits can range from $75 to $300 and up, but most of the pieces of a disaster kit are already in the home and just need to be gathered together and stored in one place.
An emergency preparedness kit needs to include food and a minimum of one gallon of water for each member of the family, including pets, per day for three days, a battery-powered or hand-crank radio, flashlight, spare batteries, first aid kit, non-electric can opener, local maps and personal sanitation items such as hand sanitizer, moist towelettes, toilet paper, garbage bags and plastic ties.
Your kit should include important family papers such as wills or property deeds and personal identification and any prescription medicines a family member may be taking.
Other items to consider include sleeping bags or blankets, paper towels, books, puzzles and games for children, food and medications for family pets.
It’s helpful to have cash in case banks are closed and there is no power for ATMs.
Remember, many shelters will not accept pets, so make sure you have a plan that protects all your family members.
The emergency supplies can be stored in an easy-to-carry plastic storage container or sports bag, making them easy to grab and go when an emergency forces people to leave their homes.
Experts agree being displaced during and after a disaster is especially difficult for children and the elderly.
The loss of familiar surroundings, schools, favorite toys and pets all contribute to the sense of loss. Including a few favorite toys or stuffed animals in the kit can help with this, but parents should be alert for behavior changes which can be an indication of stress.
FEMA's mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.
CIO — Who loves their IT department? Only one out of 10 have a positive sentiment toward IT support or service, according to a survey by BMC Software. A whopping 63 percent have a negative sentiment, while the rest take a neutral stance.
The vast majority of end-users shake their heads when it comes to IT's ability to respond and resolve to tech problems in a timely manner. The perceived impact this has on worker productivity is pretty bad, too.
"I hate calling the help desk at work," a survey respondent writes. "Not only are they useless, but the guys also do some excessive breathing into the phone."
BMC offers a few things both end-users and IT professionals can do to reduce this friction. End-users can have a "take your techie to lunch day," while IT can deploy a digital ticketing system that drives accountability.
Another potential fix that has been gaining steam lately is the enterprise Genius Bar. Companies such as SAP are taking a page from Apple's hands-on, consumer-friendly approach to solving tech problems. This trend is in the early stages, yet an enterprise Genius Bar has the potential to change the odd-couple relationship dramatically.
I swear I could write about BYOD and the potential security problems every day until the foreseeable future. But I have to wonder if we are approaching the risks in the wrong way.
A new study by managed cloud services provider NaviSite found that while 80 percent of 700 IT decision makers agree that BYOD is the “new normal,” only 45 percent have a formal BYOD policy in their workplace.
That number is awfully low when you consider that even though BYOD is being thought of as the “new normal,” it isn’t exactly a new concept. After all, employees having been using personal computers and laptops for business purposes long before there were mobile devices. And mobile devices have now been around in the workspace for several years.
Supply Chain Resiliency Management Elearning Course
Supply Chain Resiliency Management course (SCRM 2000) is designed to ensure that all students have a complete understanding of the supply chain risk and resiliency practices and techniques used by leading companies today. Offered as a "live" eLearning course over a two-week timeframe, SCRM 2000 combines the benefits of "learning from home" and interaction with a "live" classroom environment using ICOR's interactive eLearning education system.
Supply chain resiliency is the ability of a company to protect the continuity of supply and achieve sustained operational performance in the event of global multi-tier disruptions of any type at any frequency from ongoing to catastrophic. SCRM 2000 aligns to the guidance and requirements of ISO 28000, PD 25222, & ISO 31000. After completing this course, students will be able to apply supply chain resiliency techniques and best practices to their organization or to their consulting practice.
The course is intended for individuals who are currently engaged in supply chain or procurement functions, business continuity and risk management, or who are in other functional areas but have an interest in gaining additional insights regarding proactively addressing future supply chain disruptions.
Based on University Elearning Programs, Supply Chain Risk Mitigation is an interactive "live" elearning opportunity. SCRM 2000 is the only ANSI Accredited Certificate Program in supply chain risk management.
How does it work?
- Virtual Instruction: View and listen to Resilinc expert teach for approximately 1 hour each week.
- "Live" Discussions with Students World-Wide: Participate in a virtual classroom discussion and answer 2-3 discussion questions each week.
- Learn from Experts: There is 60-100 pages of reading material assigned each week to supplement the instruction. Learn from industry experts and the latest research.
- Provide Supply Chain Resiliency and Risk Mitigation Strategies to the Leadership of your Organization: As part of the course you will be required to write an essay exam to respond to an issue in supply chain risk mitigation by senior management. The work completed in this course can be applied to the mitigation of supply chain risk and ensure supply chain resiliency for your organization.
- A holistic review of supply chain management risk and resiliency chain management: Introduction, standards, and definition
- Creating a supply chain resiliency program - organizing for success
- Measuring supply chain risk - measures, metrics, and hot spots
- Proactively planning for supply chain resiliency - plan before the crisis
- How to react quickly to supply chain disruptions and organized crisis response - handling disruptions after the fact
- Supply chain risk mitigation approaches - techniques for reducing potential risk and future impacts
- Case studies in supply chain risk and resiliency - apply the course concepts
functions, business continuity, risk management or who are in other functional areas
but have an interest in gaining additional insights regarding proactively addressing
future supply chain disruptions.
Credentialing and Accreditation
Successful completion of the Supply Chain Resiliency Management Course requirements and passing the exam with an 80% or higher earns students an ANSI Accredited Certificate and the designation of Supply Chain Risk Associate (SCRA).
Resilinc is the leading provider of supply chain resiliency solutions and delivers scalable enterprise solutions that enable supply chain professionals to gain visibility across multiple tiers of their complex, global supply chains. With a comprehensive offering that encompasses multi-tier supply chain mapping, single points of failure analytics, global disruption event monitoring and management, mitigation workflow, and part-level supply chain compliance programs such as conflict minerals.
Resilinc has become the leader in comprehensive supply chain resiliency solutions. Resilinc helps customers achieve supply chain resiliency through innovative and patent-pending technology, an extensive resiliency-driven supply network, and a proven comprehensive enterprise scale solution that delivers strong value to both clients and supplier partners. For more information, visit www.resilinc.com .
About the Instructor: Bindiya Vakil
Bindiya Vakil is CEO and founder of Resilinc and is a recognized thought leader in the area of supply chain risk management. She has been a practitioner in high-tech supply chain management with companies including Flextronics, Cisco and Broadcom.
Ms. Vakil has a master's degree in supply chain management from MIT and her research focus has been on risk quantification and product resiliency.