Slightly more than a decade ago, artificial intelligence (AI) was famously used in the manufacturing industry through robots. You could use these robots in warehouses to ease product handling. However, AI and related machine learning have extended to the online space. If you’ve been monitoring your eCommerce shop using human agents, you’ll likely get overwhelmed if your shop grows exponentially. In addition, there are other aspects of your customers that you may not be able to track without using appropriate plugins powered by AI technology.
In that light, you need to assess your website, whether created through WordPress or other software, so you can install relevant plugins to aid in monitoring and managing your website. Plugins are critical because they offer you 24/7 support for your online processes.
To give you more insight, here are examples of plugins that you may find beneficial for your website:
1. Translation Plugin
Nowadays, you can use most of the world’s languages online. As a result, you need not limit your customers’ experience to just one language. Therefore, to tackle this challenge, a translation plugin is the game-changing tool you need. But, you need a plugin that’s compatible with your website. For instance, if your website is created using WordPress, you require a WordPress translation plugin. However, go for plugins that offer tens of languages and high translation accuracy.
When looking for a translation plugin for your website, there are essential features that you need to consider. You should consider critical specifications, such as content detection, outstanding customer support, a one-stop-shop translation interface, language customization, SEO optimization, auto-redirection, and in-context editor.
2. Chatbots
Having one human agent might be sufficient if your site receives few customers. However, when your business grows, you might require a robust option to handle hundreds of customers. To that effect, a chatbot comes in handy. Chatbots are powered by artificial intelligence and machine learning technology. They employ complex programming algorithms that help them function like human beings. They can respond to your customers’ questions like your human agents.
They’re usually trained through machine learning to learn patterns of human communication in specific settings for them to respond appropriately. For instance, installing a chatbot on your ecommerce website comes with many benefits. It can explain the payment process to your customers who are stranded. In addition, your bot can explain to your customers where to find specific products.
3. AI Assistant
An AI assistant is also called a virtual assistant or digital assistant. AI assistants are designed to understand voice commands of natural language. After that, the AI assistant is supposed to do the task the user commands. In a nutshell, you can install an AI assistant plugin to help your customers with purchase decisions or redirect them to specific pages on your website. Moreover, intelligent AI assistants can send discussions with customers to the admin via email.
In addition, AI assistants can perform tasks traditionally done by personal assistants, such as taking dictation, placing phone calls, scheduling meetings, reading email or text messages aloud, searching for phone numbers, and reminding you about your upcoming appointments.
Since AI assistants can work around the clock, they help improve productivity and investment returns.
4. Speaker
A speaker is another excellent tool you can use on your website. You can use this plugin to transform the content on your website into a human-like voice. However, for a better return on investment, go for speakers that support as many languages as possible. Speakers use a technology called speech synthesis markup language (SSML), which puts speech into every article on your site. A speaker can pause, read numbers, or intonate as humans do.
5. Cookies
If you’re wondering what a cookie is, worry no more. It’s a small text that can implant itself on the device of your website’s visitor. With a cookie, you can collect vital information to analyze how your website is functioning. In addition, a cookie can help you track your visitors’ activities, such as search patterns and purchasing patterns.
Information regarding your customers’ behavior on your website can help you in your personalized marketing efforts. For instance, you can watch the products your customers like to purchase together. In that case, you can recommend similar products to your customers.
Final Thoughts
Plugins are essential for increasing the functionality of your website. Therefore, to serve your online customers better, you may consider having specific plugins. In that case, installing plugins, like cookies, speakers, AI assistants, chatbots, and translation tools, might be the game-changing option you need to transform your customer experience.
Data loss is a growing problem, as companies become more dependent on data than ever. The cost of data loss can be massive for many companies.
A data center outage can cost $7,900 in losses every minute. However, the cost of losing data on a regular computer can be significant as well. Many people store valuable company data on their laptops. Some people also store cryptocurrency wallets on their personal computers.
You may not realize how much valuable data rests on your laptop until it is no longer accessible. You will need to take the right steps to protect it.
Protecting Data on Your Laptop is Essential
We all want our laptops and computers to run safely and efficiently. This ensures that our work can be completed in good time, and we won’t spend time recovering hacked files. It is worth noting that network hacks are common in businesses of all sizes. Such attacks can significantly eat into your bottom line and shouldn’t be taken lightly.
You will probably recognize the importance of protecting your laptop data even more when you stop to think of all the valuable documents that you store on it. You might have tax returns, cryptocurrency wallets, work documents and a lot of other important data.
Therefore, it is imperative that you take steps to minimize the risk of data loss on your laptop. In this guide, we will look at some tips that you can use to keep your laptop running safely and efficiently.
Use a Microsoft Exchange
Microsoft Exchange is a school or work email account that only runs on Windows operating systems. With this account, you will be able to improve your communication and productivity. It also protects your sensitive data and comes with data loss prevention capabilities.
If you run an organization, you can use a Microsoft Exchange Server to prevent members of your organization from accidentally sending sensitive data to unauthorized people.
Using a firewall is essential for businesses as it ensures that your device is not vulnerable to attacks. You may notice that firewalls affect the performance of your computer slightly, but this is worth it since attacks can paralyze your entire business. Windows and macOS devices have firewalls pre-installed, but you will have to enable them before you go online.
You might be surprised by how much a firewall can do to protect against a data breach. You would rather be safe than sorry.
Update Windows, Drivers, and Apps
Windows continually issues security and driver updates, and you should always download and install them. This helps to protect your system from malicious attacks. Hackers may discover security loopholes in outdated programs, so you should also take the time to download and install updates to your apps.
End Tasks that Are Consuming Resources
If your device is suddenly running a lot slower, it is likely that there is a new program that is consuming resources. You can consider shutting down certain apps that use a lot of data, and if this doesn’t work, you can go to the task manager and click the ‘Processes’ tab.
You can sort the apps based on the resources they are consuming. To close a program completely, you should right-click the application and click the ‘End Task’ button.
Stop Programs from Running on Startup
You may have noticed that some programs run whenever you start your laptop. Such programs can use a lot of data and slow down your laptop, which is why you need to stop them from running on startup. That said, you need to leave a few essential programs to always run, including your antivirus software.
To disable programs, you should access the task manager by right-clicking the taskbar or hitting Ctrl+Shift+Esc. You can then click the ‘Startup’ tab and disable unnecessary apps. For improved efficiency, you should especially disable high-impact programs.
Take Steps to Protect Data on Your Laptops
We have talked about changes in the designs of laptops in the past, but we haven’t talked as much about the risk of data loss or data theft with them. You have to take the right steps to protect your sensitive data.
There are many ways of ensuring that your laptop runs safely and efficiently and that the data on it is safe and secure. You should consider using Microsoft Exchange and installing a firewall. It is also important to update your operating system, drivers, and apps.
Finally, you should stop certain programs from running on startup, and you can even end programs that are taking up too many resources.
Data analytics technology has changed many aspects of the modern workplace. A growing number of companies are using data to make more informed hiring decisions, track payroll issues and resolve internal problems.
One of the most important benefits of data analytics is that it can help companies monitor employee performance and provide more accurate feedback. Keep reading to learn more about the benefits of a data-driven approach to conducting employee performance reviews.
Data Analytics Helps Companies Improve their Employee Performance Reviews
Managers state that delivering employee performance reviews is the second most dreaded and despised task they need to do. The first is firing an employee. This is understandable knowing how flawed and unfair a traditional employee performance appraisal system is.
Chris Westfall, the author of numerous books on management, thinks that poor communication between managers and employees is a serious issue affecting numerous businesses. According to statistics, an astonishing 62% of managers are reluctant to talk to their employees about anything, while one in five business leaders feel uncomfortable when it comes to recognizing employees’ achievements. This communication breakdown may be the reason why traditional feedback isn’t working.
These findings illustrate the benefits of shifting towards a data-driven approach to monitoring employee performance. An article in HR Voices titled Data Analytics in HR: Impacting the Future of Performance Management underscores some of the benefits. The authors state that data analytics saves managers time and reduces the risk of inadvertent bias.
“Using a software platform for data gathering and analytics is a huge time saver, and the application of verifiable facts and numbers to measure progress minimizes the bias that’s inherent in the old-school method of performance management,” the authors write.
Andy Przystanski of Lattice makes a similar argument. New HR analytics tools can use data to make better assessments of employee performance. They can even use data visualization to get a better understanding of individual and collective employee performance. They can make some unexpected insights based on data analytics tools.
One of the biggest flaws of traditional employee performance reports is that managers usually deliver them annually, focusing on things that are fresh in their memory. This approach to performance evaluation can’t paint a real and comprehensive picture of employees’ efforts or results. Performance and productivity fluctuate and you need real-time insights into these metrics to better understand overall employee performance.
Furthermore, when feedback isn’t data-driven it can be susceptible to managers’ opinions of an employee. And when feelings rule over accurate information, employees receive biased data that can lead to conflict within your teams.
Finally, traditional employee reviews are often vague, containing a single sentence or a phrase. They can also be time-consuming, requiring managers and employees to fill out numerous forms and handle tons of paperwork.
If you want to transform the employee performance appraisal process and make it more actionable and insightful, you can reach out for data collected via monitoring software for employees. By analyzing this information you’ll gain a better understanding of how your employees spend their time at work and create a transparent, objective, and actionable feedback.
Here are three ways that software for employee monitoring can help you to modernize the employee performance evaluation process and meet the employees’ requirements for more frequent objective feedback.
Annual Performance Evaluation is Time-Consuming
One of the reasons why managers may dread giving traditional feedback is that the entire process takes up so much of their precious time. If you want to be well prepared to deliver annual feedback, you and your employees need to fill out countless forms, wait for their approval, then you need to set and host performance appraisal meetings, and finally, deal with tons of paperwork.
And you’ll be doing this every year without any clear purpose or benefit for your employees or clients. This is because annual feedback isn’t based on relevant performance metrics and data that can show you what steps you need to take to improve employee performance or when it’s time to reward outstanding achievements.
Luckily, with the help of employee tracker data, you can create weekly, or monthly evaluations, identifying areas that need improvement and also recognizing effective practices. This monitoring software for employees can show you the time your employees spend on specific tasks, apps, and websites they use to complete these tasks and their productivity levels throughout a specific time.
You can use this information to create a real-time, objective, and most importantly timely feedback that can help your employees overcome specific issues and fulfill their potential. Or you can use it to celebrate stellar employee performance.
Traditional Feedback is Vague, Cryptic Without Clear Outcomes
Many employees state that their stress levels are skyrocketing when it’s time for annual performance reviews. They are worried that their managers will focus only on their most recent outcomes and productivity rates, forgetting to look at the big picture and recognize their overall contribution to the team or company. And their worries are justifiable.
This is especially true when managers compile annual evaluations in one sentence like “Good job” or “Your work needs improvements” without specifying what work aspects employees excel at or what steps they need to take to become more productive.
By doing this you show your employees that you aren’t invested in their professional development or, what’s worse, you fail to recognize their achievements. This attitude may frustrate your team members, motivating them to start looking for a more supportive and appreciative workplace.
If you want to prevent this worst-case scenario from happening, use real-time employee tracking system data to track your employees’ day-to-day performance, This information will help you record all the tasks and projects your employees have completed effectively over the year and also identify issues they’re struggling with, suggesting solutions on the spot.
In this way, you can set meaningful performance evaluation outcomes, provide additional support to employees in need, and promote top performers enabling them to develop personally and professionally. And you can use employee tracking data to keep an eye on their progress.
Data-Driven Approaches to Employee Performance Reviews Can Improve Fairness and Reduce Bias
There is no denying the fact that HR analytics is changing the state of the workforce. When your feedback isn’t data-driven it can often be clouded by your personal opinion about a specific employee. This is one of the main reasons why many employees think that traditional performance evaluations aren’t fair and they are a thing of the past.
Therefore, you should foster open communication, offering frequent feedback based among other significant factors on data collected via monitoring software for employees. This is especially important for managers running remote teams with employees that may feel unseen or detached from the rest of the team.
When using employee monitoring reports to complement employee feedback, you’ll eliminate bias by offering accurate and objective performance insights. This will promote much-needed equity in the workplace where every employee will be valued by their achievements and dedication to the team rather than by favoritism.
A growing number of businesses are relying on big data technology to improve productivity and address some of their most pressing challenges. Global companies are projected to spend over $297 billion on big data by 2030. Data technology has proven to be remarkably helpful for many businesses.
However, companies also encounter a number of challenges as they try to leverage the benefits of big data. One of their biggest frustrations is trying to manage their IT resources to store data effectively.
One of the biggest challenges they face is managing their SQL servers. This entails knowing how to use their cast functions properly. Keep reading to learn more.
Problem Statement
When dealing with Structured Query Language (SQL) and programming in general knowing the data types available to you in a given framework is pivotal to being efficient at your job.
Using the wrong data types for your tables can cause issues in the downstream applications which connect to the database, other databases joining to your data and Extract Transform Load (ETL) packages that extract data out.
In this post we will investigate a key function to help with the complexity that is presented with all these data types. In SQL Server this comes in the form of the CAST command. Cast allows you to change data type X to data type Y with varying restrictions. Some data types are unable to be cast to others and there are implicit data conversions and potential precision loss effects to be mindful of.
Syntax
–THE EXPRESSION FOR THE CAST OPERATOR WILL BE THE FIELD OR VALUE BEING FOLLOWED BY “AS” AND THE TARGET DATA TYPE.
SELECT CAST(EXPRESSION)
–CREATE AN EXAMPLE TABLE TO TEST CAST EXPRESSIONS
IF OBJECT_ID(N’tempdb..#CASTEXAMPLE’) IS NOT NULL DROP TABLE #CASTEXAMPLE
CREATE TABLE #CASTEXAMPLE
(
ID INT IDENTITY(1,1),
XFLOAT FLOAT,
XVARCHAR VARCHAR(10),
XBIT BIT,
XXML XML,
XDATETIME DATETIME,
XDECIMAL DECIMAL(5,2),
XNUMERIC NUMERIC
)
–INSERT 1 ROW OF DATA
INSERT INTO #CASTEXAMPLE
(XFLOAT,XVARCHAR,XBIT,XXML,XDATETIME,XDECIMAL,XNUMERIC)
SELECT 3.14,’PIE’,1,'<?xml version=”1.0″?><Root><Location LocationID=”1″><CityState>Salem, Alabama</CityState></Location></Root>’,GETDATE(), 100,50.01
–VIEW THE TABLE DATA
SELECT * FROM #CASTEXAMPLE
–CREATE ANOTHER EXAMPLE TABLE
CREATE TABLE #CASTJOIN
(
ID INT IDENTITY(1,1),
YVARCHAR VARCHAR(10),
YFLOAT FLOAT
)
INSERT INTO #CASTJOIN
(YVARCHAR,YFLOAT)
SELECT ‘3.14’,3.14
SELECT * FROM #CASTJOIN
Examples
Now that we have some data loaded, let’s take a look at some examples.
First lets look at the concept of explicit casting, explicit casting means that you will have to use CAST() to change the data type.
–EXPLICTLY CONVERT THE XFLOAT FIELD TO BINARY
SELECT CAST(XDECIMAL AS VARBINARY) as VarBinaryResult FROM #CASTEXAMPLE
In this example the decimal value 100.00 is converted to its binary value.
–EXPLICTLY CONVERT THE XFLOAT FIELD TO BINARY
SELECT CAST(XDECIMAL AS VARBINARY) as VarBinaryResult FROM #CASTEXAMPLE
This example fails, because in the #CASTEXAMPLE table, the value is a string ‘PIE’ which cannot be represented as an integer data type. However, if the VARCHAR value happens to be a valid integer value the cast will be successful.
–EXPLICTLY CAST THE XVARCHAR FIELD TO INT
SELECT CAST(XVARCHAR AS INT) as IntResult FROM #CASTEXAMPLE
But how can we be sure that this value is indeed an integer?
To verify our cast was successful we can utilize the sp_describe_first_result_set stored procedure which accepts a tsql string argument. For this procedure we will need double ticks in our string literal `1` in our query string.
–CHECK THE RESULT DATATYPE WITH sp_describe_first_result_set
sp_describe_first_result_set @tsql = N’SELECT CAST(”1” AS INT) as IntResult FROM #CASTEXAMPLE’
We can also validate the original data types of the temporary table we created.
–CHECK THE #CASTEXAMPLE TABLE
sp_describe_first_result_set @tsql = N’SELECT * FROM #CASTEXAMPLE’
The contrast to explicit casting is implicit casting which means that this conversion is taken care of for you automatically by SQL Server.
An example of when implicit joining comes into effect is if you are joining on a table with different data types. In this situation SQL server will recognize the data types need to be converted and do the conversion for you. This can add some compute cost to your query, so when dealing with one-to-many relationships it’s good to keep this in mind.
–IMPLICITY CAST ON JOIN
SELECT CE.XFLOAT,CJ.YFLOAT
FROM #CASTEXAMPLE AS CE
JOIN #CASTJOIN AS CJ
ON CE.XFLOAT = CJ.YVARCHAR
–PRECIOUS LOSS
When using the CAST() function you should also be aware of the potential of lost precision. This occurs when converting decimal to numeric or numeric to decimal data types in SQL Server.
Use the Cast Function Properly
In this post we discussed the syntax and use case for the SQL Server CAST() function. We covered the implicit and explicit cast functionality and the performance impacts that different data types can have when joining tables. Also we covered how to check a query results of a TSQL query to validate data types from the CAST() function. This is an important part of SQL database management and monitoring.
Cast is a very widely used function in SQL Server, database objects such as views and stored procedures can also use the CAST() function so understanding the functionality and how to use the function efficiency can save you time and effort! Be sure to experiment with different implementations of CAST() and make note of what works well for your specific environment.
For a better experience, try SQL autocomplete to assist with the various data casting options.
A growing number of businesses are discovering the importance of big data. Thirty-two percent of businesses have a formal data strategy and this number is rising year after year.
Unfortunately, they often have to deal with a variety of challenges when they manage their data. One of the biggest issues is with managing the tables in their SQL servers.
Renaming Tables is Important for SQL Server Management
Renaming a table in a database is one of the most common tasks a DBA will carry out. There are a lot of issues that you have to face when trying to manage an SQL database. One of them is knowing how to backup your data.
However, renaming tables is arguably even more important, since it is something that you will have to do regularly. In this article, you will see how to rename tables in SQL Server.
Depending upon the client application that you use to manage your SQL Server, there are multiple ways of renaming data tables in SQL Server. Some of the ways involve text queries while the other ways allow you to rename data tables in SQL Server via GUI.
In this article, you will see five main ways to rename tables in SQL Server to better manage your data:
Rename a table with SQLCMD UtilityRename a table with SQL Server Management Studio Query WindowRename a table with SQL Server Management Studio GUIRename a table with SQL Query Window in dbForge Studio for SQL ServerRename a Tables with GUI in dbForge Studio for SQL Server
As an example, you will be renaming a fictional “Item” table in the SALES database. The following script can be used to create such a table.
CREATE DATABASE SALES USE SALES CREATE TABLE Item ( Id INT, Name varchar(255), Price FLOAT );
Renaming Table Using SQLCMD Utility
SQLCMD is a command-line tool that can be used to perform various operations on SQL Server. The SQLCMD utility can also be used to rename tables in SQL. You can download the SQLCMD utility from the following link:
To open the utility in windows, open the “Run” shell, and enter the command:
“sqlcmd -S server_name -E”. Here E specifies that windows authentication is enabled to access the SQL Server. If Windows Authentication is not enabled, you will have to replace -E with the “-U your_user -P your_password” command.
The SQLCMD utility will open where you can execute SQL commands to perform different operations on your SQL Server instance.
Before we rename our Item table from the SALES table, let’s first print the table name. You can do so like this.
SELECT name FROM SALES.sys.tables
In the output, you will see the names of all the tables in the SALES database, as shown in the output below:
There is no direct SQL Query that can be used to rename a table in SQL Server. You need to execute the “sp_rename” stored procedure to rename a table in SQL Server.
The syntax for renaming a table in SQL Server via the “sp_rename” stored procedure is as follows:
EXEC sp_rename ‘old_table_name’, ‘new_table_name’
As an example, you will rename the “Item” table as “Product”. Here is how you can do it via SQLCMD utility:
From the output of the above command, you can see a warning which says that changing any part of an object’s name has the potential to break scripts and stored procedures.
This warning is important because if you have a script that interacts with the “Item” table using the name “Item”, that script will no longer execute since the table name is changed.
Finally, to see if the table has actually been renamed, you can again execute the following script:
SELECT name FROM SALES.sys.tables
As you can see above the table “Item” has been renamed to “Product”.
It is important to mention that if your original table name contains a dot [.] in it, you won’t be able to rename it directly.
For instance, if your SALES table has a table “Product.Items” that you want to rename as “Items” the following script will through an error
USE SALES EXEC sp_rename ‘Product.Items’, ‘Items’
The error says that no item with the name “Product.Items” could be found in the current database.
To rename a table that contains a dot in its name, you have to enclose the table name within square brackets as shown in the following script:
USE SALES EXEC sp_rename ‘[Product.Items]’, ‘Items’
From the output below, you can see no error or warning which means that the table has successfully been renamed.
Renaming Table Using SQL Server Management Studio
SQL Server Management Studio is a GUI-based tool developed by Microsoft that allows you to interact with SQL Server instances. SQL Server Management Studio can also be used to rename tables in SQL Server.
There are two main methods of renaming SQL Server tables via SQL Server Management Studio. You can either use the SQL Server query window, or you can directly rename a table via a mouse’s right click in the GUI. You will see both the methods in the following sections:
Renaming Table Using SQL Query Window
To rename a table via SQL query window in SQL Server Management Studio, click the “New Query” option from the main dashboard of your SQL Server Management Studio as shown in the following screenshot.
You can also see the “Item” table in the “SALES” database in the following screenshot. This is the table that you will be renaming.
The script for renaming a table via SQL query window is the same as the query you executed in SQLCMD. You have to execute the “sp_rename” stored procedure as shown in the following script.
USE SALES EXEC sp_rename ‘Item’, ‘Product’
In the output message window as shown in the following screenshot, you can again see the message which warns you that changing an object name can break the script.
You can use the command below to see if your table is renamed.
Alternatively, you could right click the database i.e. SALES -> Tables, click “Refresh” button from the list of options. You will see your renamed table.
SELECT name FROM SALES.sys.tables
It is worth mentioning that just as you saw with SQLCMD utility, renaming a table whose name contains a dot operator, requires enclosing the table name inside square brackets.
For instance, if you want to rename the “Product.Items” table to “Items”, the following query will through an error:
USE SALES EXEC sp_rename ‘Product.Items’, ‘Items’
On the other hand, enclosing the table name inside the square brackets will result in successful renaming of table, as shown in the output of the script below:
Renaming Table Using SSMS GUI
SQL Server Management Studio provides a lot of one-click options to perform different tasks. You can rename a table via SQL Server Management Studio GUI.
To do so, right click on the table that you want to rename. From the list of options that appear select “Rename” as shown in the following screenshot.
You will see that the text editing option will be enabled for the table that you want to rename, as shown in the below screenshot.
Here enter the new name for your table and click enter. Your table will be renamed.
Rename Table Using dBForge Studio for SQL Server
DBForge Studio for SQL Server is a flexible IDE that allows you to perform a range of database management, administration, and manipulation tasks on SQL Server using an easy-to-use GUI.
DBForge Studio for SQL Server also allows you to rename tables in SQL Server.
Just like SQL Server Management Studio, you have two options for renaming tables. You can either use the query window where you can execute SQL scripts for renaming tables, or you can directly rename a table by right-clicking a table name and then renaming it. You will see both the options in this section.
Connecting dBForge Studio with SQL Server
Before you can perform any operations on SQL Server via the dbForge Studio, you first have to connect the dbForge Studio with the SQL Server instance.
To do so, click the “New Connection” button from the main dashboard of dBForge studio.
You will see the “Database Connection Properties” window as shown below. Here enter the name of your SQL Server instance that you want to connect to, along with the authentication mode. Enter user and password if needed and click the “Test Connection” button.
If your connection is successful, you will see the following message.
Renaming Tables Using SQL Query Window in dbForge Studio
To rename tables using the SQL query window in dbForge Studio for SQL Server, click the “New SQL” option from the top menu. An empty query window will open where you can execute your SQL queries. Look at the following screenshot for reference.
The query to rename a table remains the same as you in the previous sections.
You use the “sp_rename” stored procedure.
The following script renames your “Item” table in th SALES database to “Product”.
USE SALES EXEC sp_rename ‘Item’, ‘Product’
The output below shows that the query was successful.
To see if the “Item” table has actually been renamed, run the script below:
SELECT name FROM SALES.sys.tables
In the output, the SALES database now contains the “Product” table instead of “Item” table.
As you saw with SQLCMD, and SQL Server Management Studio, if the table that has to be rename contains a dot (.) sign, you will have to enclose the table name inside square brackets in your SQL script.
Renaming Tables Using GUI in dbForge Studio
To rename tables via the GUI interface in SQL manager, simply right click the table that you want to rename. From the list of options, select “Rename”, as shown in the screenshot below:
Enter the new name for your table. In the following screenshot, we rename the “Item” table to “Product”. Click the Enter Key.
Finally, click the “Yes” button from the following message box to rename your table.
Knowing How to Rename Tables is Essential as a Data-Driven Business
There are many powerful big data tools that companies can use to improve productivity and efficiency. However, big data capabilities are not going to offer many benefits if you don’t know how to manage your SQL databases properly.
In this article we’ve looked at five different ways that you can rename a table in SQL Server using SQLCMD, SSMS, and dbForge Studio for SQL. You should follow these guidelines if you want to run a successful data-driven business that manages its data properly.
There are many benefits of leveraging analytics in healthcare. Hospitals and individual healthcare providers are using analytics tools to predict the likelihood a patient will develop a disease, minimize medical error rates, reduce costs of delivering treatment and provide a better overall patient experience.
However, there are some downsides to shifting towards a data-driven healthcare delivery model. One of the biggest issues is that the system can break down when healthcare organizations have trouble accessing data.
These problems become more pronounced when healthcare providers have Wi-Fi problems. Their data delivery models become disrupted, which hinders the entire organization.
Wi-Fi Connectivity Problems Can Cripple Data-Driven Healthcare Organizations
With the rise in telehealth services, a doctor’s visit no longer has to be an in-person affair. No more fighting traffic, taking time off from work, or finding a sitter for the kids or unruly pets. You can launch an app or a web browser and go through a medical consultation from the comfort of home.
Digital technology has not just made things more convenient for the patient. It has also made it easier for healthcare companies to store data and improve the efficiency of their business models. They can easily collect data through the company intranet or Internet services that engage with patients and third-party services.
But what happens when your Wi-Fi isn’t working properly? Is your data-driven healthcare organization going to suffer?
Although telehealth and online healthcare options offer patients more conveniences, they depend on reliable internet. Problems like slow and spotty connections can get in the way and make telehealth sessions difficult to impossible. Even if you just need to refill a prescription or schedule an appointment online, Wi-Fi issues create obstacles to healthcare. They can also create problems for companies that rely on the connection to collect data. Since data collection is vital to modern healthcare, this can be a huge problem for hospitals and other healthcare service providers.
Let’s look at some of the ways Wi-Fi difficulties could impact online medical services.
Weak Signal Strengths Equal Poor Connections
Most home Wi-Fi setups involve a single router or modem. While this solution may work OK in smaller apartments and condos, it’s more challenging in single-family homes. Even condos or townhomes with basements might struggle with poor signal strength if the modem is on the main floor. Symptoms of weak signal strength include dropped and slow connections.
This might not be a huge problem for regular consumers that don’t depend on data to be seamlessly transmitted for their lives to function. A poor connection might be annoying when it prevents you from streaming your favorite show. But it’s a real impediment when you’re discussing your medical history or trying to go over lab results. It can be a huge problem when you need to collect real-time data for your stakeholders. It can also be a problem when you need to make sure the data you are collecting is complete, so your data-driven healthcare organization can function properly. In addition, a virtual healthcare appointment is still an appointment in the eyes of providers and insurance companies. A doctor might reschedule, but you’re more likely to delay or give up on things without a stable connection.
Some people use signal boosters or mesh systems to solve Wi-Fi signal strength problems. However, a smart home Wi-Fi solution takes things a step further. The solution’s artificial intelligence learns how you use Wi-Fi in your home and adjusts the signal strength accordingly. Need more capacity in your home office at 10 a.m. and a boost in the living room during evening hours? Smart Wi-Fi’s on it. Slow and unreliable connections will become a distant memory.
Data Caps and Network Limitations Might Lead to Throttling
You may have heard about data caps and network limitations but don’t pay much attention to them. That is, until your Wi-Fi suddenly starts moving at the speed of a tortoise just as you’re showing the doctor your nasty rash. Or you look at your bill from last month and see extra charges for going over your plan’s data limits.
Data caps are something that service providers implement to discourage extensive network use. That’s because there’s only so much capacity, especially in areas with antiquated or insufficient infrastructure. During the pandemic, the FCC’s Keep America Connected Pledge encouraged ISPs to temporarily suspend data limits. The goal was to accommodate increased network activity from remote learning, work-from-home arrangements, and telehealth.
However, now that pandemic concerns have waned, data limits and ISP throttling practices are mostly back in place. Throttling is when your service provider slows down your Wi-Fi connection because of high network use. It could be because you’re over your data cap or the network is busy. Throttling can make it difficult to stream a telehealth session or use a health app.
Fortunately, some ISPs don’t impose data limits on a few plans, pandemic or no pandemic. They might also restrict their throttling practices to extreme circumstances related to infrastructure problems. Investigate your current provider’s practices and their competitors’ policies. If you can, switch your plan or carrier to one that better suits your needs.
To help expand healthcare access, the FCC gave out over $350 million in grants to medical organizations. These grants were meant to increase telehealth capabilities and services, particularly in remote areas with limited facilities. Yet these grants don’t help expand broadband access, which is what many people need to make telehealth work.
More bandwidth and higher speeds are necessary for videoconferencing and viewing or downloading graphic-intensive files. Just try to pull up a CT scan or MRI image on a slow connection, and you’ll struggle. But over 14 million homes in urban cities and another 4 million in remote areas still don’t have broadband internet.
Technically, broadband speeds begin at 25 Mbps for downloads and 3 Mbps for uploads. However, some say it’s not enough for telehealth services. That’s because homes are putting more strain on internet connections with multiple smart devices, remote work, gaming, and streaming. In areas where broadband infrastructure like fiber may be lacking, alternatives from cellular carriers can be viable options.
Wireless carriers leverage existing cell towers to provide broadband speed and capacity through fixed wireless or small cell technology. Some providers are doing this at a lower or stable cost for subscribers. People in remote towns don’t necessarily have to resort to DSL or satellite, which is prone to latency. That’s good news for those trying to keep telehealth appointments with far-off providers.
Wi-Fi Problems Create Problems for Data-Driven Healthcare Organizations
Online medical services are convenient and can reach patients who don’t live near doctors’ offices. However, telehealth isn’t possible without reliable internet and Wi-Fi connections. Issues like spotty signal strength, data caps, and a lack of broadband infrastructure create obstacles to adequate healthcare.
Getting around those obstacles requires innovative and alternative solutions, such as smart or adaptive Wi-Fi. More people can take advantage of online healthcare’s offerings and capabilities with these solutions. Healthcare providers will have more accurate data and can deliver more seamless services. After all, the promise of telehealth rests on more than its availability.
Artificial intelligence has led to some pivotal changes in the financial sector. Fintech companies are projected to spend over $12 billion on AI this year.
A growing number of traders are taking advantage of AI technology to make more informed trading decisions. AI technology has actually changed stock market investing as we know it.
Algorithmic trading refers to a method of trading based on pre-programmed instructions fed to a computer. It relies on sophisticated AI capabilities. It’s the inverse of the conventional type of trading where people make decisions based on sentiments and convictions.
Algorithmic trading aims to capitalize on the greater speed and mathematical power of computers relative to human traders to get better results. The AI algorithms that it uses can identify trading opportunities most humans would have missed. It’s a massive sector, worth $13 billion as of 2021, and yet still growing, projected to witness a compound annual growth rate (CAGR) of 10.5% from 2022 to 2027.
There are many requirements to be a successful algorithmic trader and the most critical one is knowledge of both the AI technology behind it and the strategies that help it work effectively. You must have detailed and up-to-date facts about the financial markets to make smart decisions. You also need sufficient computer programming knowledge and a background in AI to generate machine learning algorithms and implement them using codes the computer can understand directly.
You can get the required knowledge and skills to be an algorithmic trader in many venues, e.g., in college, a local library, coding boot camp, etc, which are fairly common. There are also some uncommon mediums, such as anonymous online communities, that are often overlooked.
We consider anonymous communities to be an excellent platform through which algorithmic traders can gain knowledge about their field, with clear reasons. They can create AI applications that can streamline their trading decisions.
Why anonymous online communities?
One of the best things about the internet is anonymity, although it has its downsides. An anonymous community is an equalizer, where people are judged primarily on their contributions instead of clout. This factor constitutes a motivation for users to help each other with solutions and maintain the vibrance of the community. They can help each other learn more about AI to develop valuable applications to improve their trading decisions.
Best online algorithmic trading communities
The key for algorithmic traders to learn through the web is to know which communities cater to their needs. There are many such communities to choose from, but some are better than others. Some of the better ones aren’t even popular but offer great value to their users.
The best online communities for algorithmic traders to learn more about AI include;
● QuantConnect Community
QuantConnect is one of the most popular platforms for algorithmic trading, and it includes an online community where users can converse in tandem. The trading platform has processed over $13 billion in trades since its inception, indicating a large user base. Many people can learn about the benefits of AI technology with it.
On the official QuantConnect community, you can find a vast range of discussions concerning automated trading and participate in them. The topics are categorized, making them easy to find. For example, you can find discussion threads on stock selection strategies and risk management.
One of the features that QuantConnect uses to encourage discussion is by providing cloud credits to active community members that they can use on the trading platform. This system encourages the most skillful traders to share their knowledge to earn credits.
You’re free to participate anonymously in the QuantConnect community as many people do. But, you can also use your real-world identity if you wish.
● Reddit
Reddit may need no introduction, as it’s very popular, with over 430 million monthly active users. It’s a news aggregation and discussion website containing thousands of distinct communities (called subreddits).
There are many people on Reddit with a strong background in AI development. With a massive user base, Reddit represents a hub of information for people that care to seek them. The key here is knowing which subreddits cater to algorithmic traders, and some of the best ones include r/algotrading, r/algorithmictrading, and r/python.
R/algotrading is the most popular algorithmic trading subreddit, with 1.5 million members. On it, you can find virtually unlimited discussions concerning every topic related to the sector. You can seek advice on trading strategies, recommendations for trading platforms, help with parsing data, etc. For example, check out this thread about effective strategies to get started in algorithmic trading.
R/algorithmictrading is a much smaller community compared to r/algotrading, with just nearly 8,000 members. Like the other, participants can discuss topics related to quantitative trading and exchange solutions to their respective problems. One of the advantages of participating in a smaller subreddit is the low noise-to-signal ratio that makes it easy to filter out mundane information.
R/python is primarily a subreddit for the eponymous computer programming language. But you can find a lot of discussions about algorithmic trading because Python is the primary language used in the sector.
● MQL5.community
MQL5 is a dedicated online community for algorithmic traders worldwide and one of the most popular. This community offers a great utility to users, including financial data, ready-made AI trading algorithms, articles, technical indicators, an official forum, and live chat.
Many people are often discouraged by the thought of creating trading algorithms from scratch and implementing them through AI-based computer programs. If you’re in this camp, don’t be distressed. One of the best features of this community is that you can buy trading algorithms built by other professionals and implement them on the MetaTrader 5 platform with your capital.
Likewise, if you have the skills to build functional trading algorithms, you can earn money by selling them to other members of the community. This way, you can make money trading and also by offering your expertise to a vast user base.
Having the right market data is inseparable from being a successful algorithmic trader, and the MQL5 community helps you in this aspect. It offers quotes for global asset markets, including securities, commodities, and derivatives. This data helps you decide the right way to trade.
On this platform, you can also access a loaded library of articles about algorithmic trading. For example, see this article on how to design a trading system from scratch. These writeups by industry professionals represent a practical source of knowledge to help you become a better algorithmic trader.
The community’s official forum allows users to create discussion threads and exchange ideas that other people (including non-registered users) can read. For example, here are discussion threads on signal systems and how to evaluate market conditions. These threads, often involving traders from around the globe, are also great places to gain knowledge.
AI Has Helped Traders Leverage Automation Via Algorithmic Trading
Knowledge is power rings true in every sector. You’re likely to make costly mistakes if you don’t have a good comprehension of the complexities of algorithmic trading, which requires you to have a background in AI. An algorithmic trader mustn’t just learn but must continue to stay updated on developments in the rapidly-evolving industry and the new AI capabilities that they can take advantage of.
AI and algorithmic trading is pervasive in all global asset markets. For example, it makes up 92% of forex trading activities worldwide. Though a massive one, the industry is yet still growing, with many more developments to come propelled by the increasing availability of sophisticated computing resources. If you’re up to the task, board the ship and take advantage of the increasing opportunities at hand. You will discover the great potential of using AI for algorithmic trading.
A report by Entrepreneur shows that companies that use big data have 8% higher profits. They also cut expenses by an average of 10%.
There are tons of great benefits of using big data to run your company. You can improve marketing strategies with big data, improve employee productivity, meet compliance targets and track trends more easily.
However, running a data-driven startup is not easy. You have to have the right infrastructure in place. This includes investing in the best electronic devices.
Data-Driven Startups Have to Invest in the Right Electronic Tools
When it comes to shopping online for electronic products, we need to be extra careful. These products have a higher chance of failure because they involve a combination of technologies from multiple fields. Micro components, electronic circuitry, mechanical and thermal strength, and logic are only some of the factors that must be taken into consideration.
This can be a huge issue for data-driven startups. They rely on their electronic devices even more than your average consumer. If their device is compromised, they can lose access to loads of valuable data. The entire future of their company could be at risk.
The good news is that there are also several ways for you to shop online and get your hands on some of the finest electronic products. You will also be able to find some of these retailers offer some amazing deals. Read on ahead to learn about some of these ways that are briefly listed below.
Buy Directly From Manufacturer Websites
The last on this list, which according to us, is one of the best (if not the best) ways of shopping online. Due to the communication advantages of using the internet, it is much easier to get in contact directly with the manufacturers. Buying directly from the manufacturer’s website can serve many advantages. The first and most important one is their expertise. Since they are the ones making and designing the product they have expertise that wholesalers or retailers might not be able to offer. In addition, you can easily request bespoke and custom-made designs to suit your requirements. Another benefit is that you can cut out the middleman, which means that you can even shop at lower prices.
As a data-driven startup, this could be a great idea. You want to find quality suppliers that can give you electronic devices that can reliably store your sensitive data. What better supplier can you find than the manufacturers themselves?
Shop at TME Electronics
TME Electronics is one of the biggest manufacturers and suppliers of electronic products in all of Europe. The business first started off as a family company that offered electronic components for service and small production purposes back in 1990. Over the years, TME Electronics has established itself as the primary distributor of electronic, electromechanical, industrial, automatic, and workplace equipment. Data-driven companies may find that they are one of the best electronic suppliers to work with.
As of July 2022, it serves 133 countries and ships 3,700 packages each day for local as well as overseas deliveries. Finally, it offers 190 unique products for single and bulk orders while the stock for a single product, such as the microswitches or other electronic components.
Shop at Online Stores
This category needs little to no introduction as most of us are familiar with famous online stores such as Amazon.com. You can find almost any product here and at competitive prices as well. They offer a lot of great electronic devices that can make it easier to store vast amounts of data that your company will need to run efficiently.
These websites have a huge list of sellers selling electronic products of multiple variations. For the sellers, these websites offer the platform to run their shops online without having to go into the complexities of building a brand or a website and running paid ads. The platform will do it for them. The platform acts as a sort of middleman between the buyers and sellers.
Shop at Third Party Sites
Some third-party websites such as TechBargains offer the amazing opportunity to find an electronic product, that we are specifically searching for, and also at the best prices. These websites scour the internet to bring you results from hundreds of different stores. You can then compare the prices and choose from the one that seems the most attractive. Furthermore, these will also let you cash on limited-time deals if any are going on at a website.
That’s not all, some browser extensions such as Honey will also help you save money when shopping for electronic products online. These extensions will automatically search for coupons on a website. You can then easily add the coupon code on the payment page for some additional discount (yay!).
Shop at Community Driven Websites
Community-driven websites like Slickdeals work independently of any buyer or seller but rather through the community. On the first look, you will see the website looks like an online shop, but the deals you will see are submitted by members of the community. For quality purposes, the rest of the community voted on the deal so you will see the top-rated ones first.
These websites would often hire curators as well. These people review the product by testing it out. So, if you’re looking for a specific type of microswitch, for example, whether it is a snap action or tact, you will most likely find a review or at least a deal that hasn’t been listed by any retailer or seller. Instead, by a member who has probably used the product before.
Data-Driven Startups Must Invest in Quality Electronic Devices
You can find a lot of great electronic devices that make it easier to run a startup that depends on big data. These options will make it easier to find the ones that you need.
Artificial intelligence technology is changing the future of many industries. Global companies spent over $328 billion on AI last year. This figure is expected to grow as more companies recognize the potential and decide to increase the resources they dedicate to machine learning and predictive analytics tools.
The automotive industry is among those investing in AI the most. The industry is going to increase expenditures on AI technology for the foreseeable future.
The automotive world is focused on redefining its ecosystem. Along with converting to electric vehicles and delivering self-driving cars, automotive companies master their software development expertise. They have found that AI technology is opening new doors. Companies that fail to leverage AI effectively risk falling behind in a competitive industry.
Automotive OEMs and top automotive software companies can work together to build resilient software development processes with sophisticated AI algorithms that allow them to innovate, meet growing customer needs for infotainment systems, and monetize new business models.
Emeritus author Rachel Hastings has shared some of the benefits of AI in the automotive sector. She points out that BMW is one of the industry’s pioneers in using AI. The company is using robots powered by AI technology to create custom cars. They have also used machine learning to automate the transportation of important materials.
AI aids with digital transformation and software-defined vehicles
The automotive sector is changing from an industry focused on performance and design to a market defined by the quality and usability of delivered automotive software, which is made available by remarkable advances in AI. The impact of automotive software solutions is so crucial nowadays, that experts coined the term software-defined vehicle.
SDV leverages modern AI technology and robust software engineering services to provide automotive customers with advanced software products including advanced driver assistance systems, predictive maintenance, smart routing, and many more intelligent solutions. The main difference comparing to previous years is that automotive software solutions are no longer extra gadgets but are the central part of the vehicle development process. AI helps with all of these issues.
Advanced automotive software development services
Meeting the growing demand for advanced software products is challenging and the automotive industry needs help. They are discovering that there is a shortage of qualified AI developers that can help them meet their needs. We have shared some useful tips for creating quality AI applications, but actually implementing them consistently requires sophisticated training.
Along with the need for various apps, the market observes the rise of automotive software development services. Companies like Grape Up, a technology and software development consulting expert ensure complex services helping top automotive brands in delivering production-grade software and preparing for new business opportunities.
Cloud services to enhance automotive software development
Automotive AI software development services need robust infrastructure and scalable solutions. Grape Up ensures domain expertise in building a proven cloud tech stack, hardware development, platform development, backend systems, systems integration, and determining proper tools. Such a secure cloud platform can handle the growing number of connected cars and devices. With a scalable ecosystem, automotive companies can ensure seamless connectivity and implement V2X solutions.
Working with Grape Up, the automotive industry can leverage the most popular cloud services providers: AWS, Azure, Kubernetes, Google Cloud, Alibaba, and OpenStack.
Technology consulting and software development for connected car solutions
One of the major trends of the software development revolution in the automotive ecosystem is the rapid growth of connected car technologies. This is one of the biggest benefits of AI in the automotive sector. With Grape Up highly experienced team, automotive companies build their software systems allowing for enhancing connectivity with the Cloud and leveraging vehicle-to-everything (infrastructure, other vehicles, numerous devices).
By building connected vehicle solutions, Grape Up helps the automotive industry use real-time data and sophisticated AI algorithms to improve driving experience, enhance communication, and increase productivity. Vehicle data processing allows to increase industry standards and design better solutions for maximum benefits. Data collected with these technologies provide insights for autonomous driving solutions.
Over-the-air updates enable automotive enterprises to implement continuous improvement, enhance software development life cycle management, leverage adjustment after automotive software testing which leads to increased software quality, and improve business processes.
Shared mobility and on-demand services
Customers are no longer interested in owning things. They just want the access to services. Netflix, Spotify, Airbnb, and now vehicle companies building their competitive advantages in delivering access to products and services.
In order to provide these kinds of services, the automotive industry needs telematics platforms to better fleet management, inventory management, and track data. They also need solutions allowing for mobile, contactless rental and payment. Here comes Grape Up with proven expertise in building such solutions for top rental car companies.
AI-based software development
Artificial intelligence and machine learning solutions are changing the automotive industry at every level. AI improves automotive software development, supply chain management, product development cycle, manufacturing, and automated testing. But also for ens-users artificial intelligence ensure a more personalized experience, support and assistance (autonomous vehicles), and new features. AI can enhance both embedded solutions and custom automotive technologies.
By developing AI-powered applications and building Machine Learning development platforms, Grape Up enables automotive companies to accelerate automotive software development and create more intelligent and user-friendly solutions.
Big data
Big data and AI are twin pillars in the field of software development. By using connectivity and telematics solutions, the automotive industry gained a better position than other industries in data processing. As a vehicle has become a digital device collecting and exchanging large volumes of information, big data technologies allow for increasing customer satisfaction and monetizing vehicle data by B2B data sharing.
Grape Up provides a dedicated team of data scientists and ML engineers to help automotive enterprises build data streaming platforms to aggregate information and turn them into actionable insights. Such data can be leveraged to help the organization make data-driven decisions, build a competitive advantage using real-time insights, and create new revenue streams.
The last decade in the automotive is just an introduction to what will come in the next years. Automotive development services go far from hardware-centric vehicle manufacturers to technology companies as many automotive enterprises want to be called. The central stage is taken by software and software-defined vehicles.
AI Software is Crucial for the Modern Automotive Industry
AI software has become remarkably useful in the automotive sector. A growing number of developers are using agile software processes and other tools to help create valuable AI applications for automotive companies. AI technology is going to truly change the industry in unimaginable ways.
Modern investors have a difficult time retaining a competitive edge without having the latest technology at their fingertips. Predictive analytics technology has become essential for traders looking to find the best investing opportunities.
Predictive analytics tools can be particularly valuable during periods of economic uncertainty. Traders can have even more difficulty identifying the best investing opportunities as market volatility intensifies.
Predictive Analytics Helps Traders Deal with Market Uncertainty
However, predictive analytics will probably be even more important as global uncertainty is higher than ever. Traders will have to use it to manage their risks by making more informed decisions.
As time goes by the global financial crisis intensifies more and more. Because of that, the inflation rate among the major countries continues to increase. This is the result of several factors, and one of the main ones is the war between Russia and Ukraine. As a consequence of the ongoing conflict, the price of stocks and commodities decreases, which has a dramatic effect on other financial markets, including the forex market.
Compared to the Spring Forecast, Russia’s action against Ukraine continues to harm the EU economy, causing weaker growth and greater inflation. The EU economy is expected to increase by 2.7% in 2022 and 1.5% in 2023, according to the Summer 2022 (interim) Economic Forecast. In 2022, the Eurozone’s growth is predicted to be 2.6 percent, with a subsequent slow down to 1.4 percent in 2023. By 2022, annual average inflation is expected to reach record highs, reaching 7.6% in the Eurozone and 8.3% in the EU, before falling to 4.0% and 4.6% in 2023, respectively.
Investors around the world are struggling to deal with these challenges. They have started resorting to predictive analytics tools to better anticipate market movements.
Data developers have come up with a number of different approaches to help forecast stock market prices. According to a study published in Frontiers, predictive analytics algorithms have been able to effectively predict stock market movements during the pandemic based on factors such as search engine use.
Similar predictive analytics algorithms could prove to be equally useful during the current economic crisis. Machine learning algorithms could evaluate socioeconomic trends from around the world to make better forecasts.
Analytics Vidhya, Neptune.AI and a number of other companies have predictive analytics tools specifically for gauging the direction of the stock market. Their services are becoming more poplar as economic uncertainty rises.
Can Predictive Analytics Show What Will Happen With the Euro?
It has been a rough year for the euro, which has lost close to 12 percent versus the US dollar so far this year.
It’s a reaction to both the aftermath of the Russia-Ukraine conflict and the European Central Bank’s hesitant start to raise interest rates (ECB). What will happen to the euro if the ECB decides to stop raising interest rates, which might lead to a drop in the pair? Investors feared that a regional energy crisis would trigger a recession, sending the euro to a 20-year low. On July 12, the euro bounced back. As a result of this, motivation in trading among investors who were dependent on the Euro increased. Because of the Euro decrease, many investors have seen dramatic losses while trading Forex, however, as Euro started to bounce back and rebound in terms of price value, this had a positive effect on the investors’ sentiments.
Since December 2002, the single currency has fallen to its lowest level versus the US dollar since the beginning of the coronavirus epidemic in July because of energy worries, supply constraints, and rate rises from the European Central Bank (ECB).
The Spring 2022 forecast’s many unfavorable risks have come to fruition. As a result of Russia’s incursion into Ukraine, oil, and food commodity prices have risen further. Consumer buying power is being eroded as a result of rising global inflation, prompting central banks to act more quickly than previously anticipated. The negative economic effect of China’s strong zero-COVID policy is exacerbated by the country’s ongoing slowdown in economic development in the United States of America.
Recent months have seen a steady decline in the euro, as inflation has hit a record high and economic growth has dropped to its lowest level since the financial crisis of 2008. There has been some recent evidence that the Eurozone economy is struggling.
Increasing energy and financing costs, as well as high inflation, are the primary causes of economic weakness in the Eurozone. Covid-19 supply chain interruptions and mismatched supply and demand from lockdowns contributed to increased inflation at the beginning of the year. Due to the Russian invasion of Ukraine in February and Western sanctions on Moscow, food, gasoline, and energy costs have risen.
Because the U.S. central bank has a greater capacity to raise interest rates than its international counterparts, the dollar has risen in value.
Fortunately, predictive analytics tools could help traders anticipate the future value of the euro. Annie Qureshi wrote an article for DataFloq that talked about the benefits of using predictive analytics for Forex valuations, which includes forecasting the value of the euro.
Qureshi pointed out that predictive analytics algorithms can forecast asset prices based on large sets of unstructured data from social media and input from world leaders. This has tremendous promise for traders. They can also use predictive analytics for technical analysis trading, although this can be more difficult during periods of economic uncertainty.
Predictive Analytics Technology Can Help Gauge the Future of the Global Economy and Financial Markets
Predictive analytics can anticipate changes taking place in other countries, as well as financial markets. This helps traders get more granular insights into the future of the economy.
The Nord Stream 1 pipeline, Russia’s major conduit to Germany, has begun its yearly maintenance, raising fears that Europe might plunge into a recession. Because of the conflict in Ukraine, governments, markets, and businesses are concerned that the closure may be prolonged.
Because of the EU’s heavy dependence on Russian fossil resources and the slowing global economy, the EU economy is especially sensitive to changes in energy markets. As a result of last year’s resurgence and a stronger-than-expected first quarter, the annual growth rate for 2022 is expected to be higher than originally anticipated. Summer tourism might help, but the rest of this year’s economic activity should remain modest. Quarterly economic growth is predicted to pick up steam in 2023, thanks to a strong labor market, moderate inflation, assistance from the Recovery and Resilience Facility, and the huge amount of surplus savings still available to the country.
So, what will be in the future and how will the Euro’s value develop? There are several opinions about this topic. Compared to the Spring Projection, the inflation forecast has significantly increased. Additionally, European gas prices are expected to rise even more in the third quarter, which will be passed on to consumers via higher power costs. Inflation is expected to reach an all-time high of 8.4% y-o-y in the third quarter of 2022 in the Eurozone, before declining gradually until it drops to less than 3% in the final quarter of 2023 in the EU and the Eurozone. According to analysts, the inflation rate among European countries is going to ease and decrease. In addition to that, other analysts, who are more skeptical, think that the Euro is going to reach the same level as the USD for a long time. After that when the Euro and the USD will reach the same price level for a certain period of time, the Euro is going to decrease in its price level and the USD will become dominant. However, what will be in the future it’s a matter of time. If the situation between Ukraine and Russia doesn’t stabilize, the Euro may drop even more than projected.
Financial traders will be able to use predictive analytics to project the outcome of all of these factors. This can help them make more informed trading decisions.
