"Energy Access Innovations, Streaming Data Insights, and Emerging Credit Models: Today's Data Digest Highlights"
Published: 2024-05-24Welcome to today’s Open Data Digest! Here, we explore the latest news in open data, analytics, and technology. Our aim is to help you understand how data shapes our world and how it can create a better future for everyone.
The first Open Source in Energy Access Symposium (OSEAS) was held in Abuja, Nigeria. It brought together energy experts, developers, researchers, and donors from around the world. The event was organized by the EnAccess Foundation and World Resources Institute, with help from the World Bank. The focus was on open-source solutions to improve energy access. Keynote speakers Abba Aliyu and Michael Ivenso talked about tools like Ukama and the FAIR battery project that drive innovation. The symposium had 45% female speakers and 80% of attendees were from the global south. This showed a mix of ideas and teamwork to solve energy problems.
As more people use streaming services, knowing how much data they use is important. Spotify’s data use changes with audio quality. It ranges from 10.8MB per hour for low quality to 144MB per hour for very high quality. Compared to Apple Music, Amazon Music, and Tidal, Spotify uses less data, making it good for people with limited data plans. While high-quality services like Tidal and Qobuz offer better sound, they use more data. For most users, Spotify balances quality and data use well.
The traditional FICO score, created in 1989, now faces competition from cash flow-based underwriting. This new method gives a real-time look at creditworthiness, helping smaller firms and consumers. Open banking lets FinTechs and banks use consumer-approved data for better cash flow insights. With support from the Consumer Financial Protection Bureau, companies like Plaid, TomoCredit, Nova Credit, and VantageScore are making new models that mix traditional and alternative data. This improves credit risk checks and financial access.
The Institute of Marine Research (IMR) collects data from 10 fixed transects to monitor ocean conditions. These datasets help understand long-term environmental and climate trends. A recent report looked at models like TOPAZ, which accurately show yearly changes but struggle with extreme conditions. The Norkyst model is good with current speeds but lacks full coverage. The study suggests sampling 3-4 times a year to capture yearly changes and trends.
A major flaw called Linguistic Lumberjack was found in Fluent Bit, an open-source data collector used by big cloud providers. The vulnerability, CVE-2024-4323, was reported on April 30 and fixed on May 15 in release 3.0.4. Fluent Bit, with over three billion downloads, is key for log data processing. Tenable warns that not updating could lead to data leaks, service denial, or remote code execution. Users should update or limit access to vulnerable points to keep data safe.
As businesses grow and use new tech, they face more risks, especially in following rules. Recent data breaches, like the one affecting 10 million people in Australia, show the need for strong data security. Best practices include having good compliance and security plans, data control, and avoiding vendor lock-in. Picking the right tech partner is crucial for staying resilient and compliant. While outsourcing can help, it needs careful management. Companies must address security and compliance gaps and ensure their tech partners support their needs.
The world of open data is changing fast, bringing new chances and challenges. By staying informed and using data wisely, we can build a more inclusive, secure, and sustainable future. Thanks for joining us in today’s Open Data Digest. Stay tuned for more updates and insights.
https://www.thisdaylive.com/index.php/2024/05/24/need-for-open-source-in-energy-access/Related news on 2024-05-24
- pymnts.com: Cash Flow - Based Underwriting Broadens Credit Access
- makeuseof.com: How Much Data Does Spotify Use ?
- itwire.com: iTWire - Effective data management amid shifting compliance regulations
- itwire.com: iTWire - Tenable finds flaw in HTTP server used in cloud environments
- thisdaylive.com: NEED FOR OPEN SOURCE IN ENERGY ACCESS – THISDAYLIVE
- hi.no: Numerical models and long term monitoring