Digitization of budget reform to be prioritized in the Philippines – OpenGov Asia
It’s hard to do business in today’s world without a reliable website, and that’s where professional website building services come in. Developing an online presence for a business or corporation does not end with creating a basic website for a business or organization.
Developers can use web development tools to handle a range of technologies and should be able to deliver faster and cheaper mobile development. A responsive site design will improve the online browsing experience while allowing for better SEO, lower bounce rates, and less maintenance.
The tools that an organization has selected must be able to give a good return on investment. Therefore, cost effectiveness, ease of use, scalability, portability, and customization are the factors to consider when choosing a web development tool.
Neo4j’s VP of Global Cloud and Strategic Sales, Kesavan Nair or simply Kay, discusses in depth how large enterprises are setting up their growth engines with Mohit Sagar, CEO and Editor-in-Chief of OpenGov Asia .
With a proven track record of entrepreneurial leadership in open source, cloud, SaaS, big data, and analytics with technology start-ups and large public companies, Kay is an authority on the subject.
On-premises vs cloud
Data location is the primary distinction between cloud-based and on-premises (prem) versions. Cloud software is hosted on the provider’s server and accessed using a web browser, unlike on-premise software, which is installed locally on company PCs and servers.
When making a choice, various factors must be considered in addition to accessibility: software ownership, cost of ownership, software upgrades and additional services such as support and implementation.
Kay explains that the cloud database as a service (DBaaS) market is one of the fastest growing markets in enterprise software. “We need to make sure we can be where our customers want us to be, which is in the public cloud.”
As an example, he cited the use case of Levis – one of their long-time customers. Levis had been operating on-premises for a long time and wanted to change as part of their digital transformation strategy. They had eight different applications in various business units that ran on-premises and wanted to move all services into a cloud service, running on Amazon. Neo4j helped them with the migration in about 3 months.
“It was a great example of how Neo4j AuraDB Enterprise helped execute Levis’ digital transformation,” Kay enthused. “For Levis, Neo4j has become one of the main motivations for the company to experiment and try new ideas, which has accelerated their transformation quite quickly.”
Neo4j has both start-ups and established companies in its fold. Their biggest customers include Siemens and Dun and Bradstreet. They also have clients like PwC Australia, PwC US, BMW, Walmart and a neo bank in the US, Current Bank runs their backend database system on Neo4j. The largest health insurance provider in Brazil, Qualicrop manages its critical database systems in Neo4j.
Talking about their background, Kay shared that they started out as a database company where most of their customers used the Neo4j database for transactional workloads. Today, interestingly, around 90% of their customers use either a public cloud or a cloud managed by Neo4j.
“We will soon cover all major cloud service providers, so customers can choose where to deploy their applications and where to use the service. It will bring us closer to where our customers are growing,” says Kay confidently.
Graph Data Platforms: The First Choice for Application Development
According to Kay, their graph database promises data consistency, performance, and scalability. It can look for patterns and connections in the interconnected relationships of data. “Neo4j now includes a graphical data science platform. Data scientists and developers can use this platform to meet their demands. And I believe that gives us an extremely attractive product for the market as a whole. »
When governments needed to locate community infections due to the pandemic, the benefits of the graphical data platform were most evident. The graph data platform with AI has proven to be a great tool for real-time data management, from tracking logins through complex social networks to understanding links.
On the other hand, graph data science helps organizations solve some of their toughest and most complex problems. “Neo4j Graph Data Science is a connected data analytics and machine learning platform that empowers you to better anticipate the future by understanding relationships in big data.”
He shared that these two key strategic products in the Neo4j Aura cloud product portfolio are AuraDS (designed for data scientists) and AuraDB (designed for developers).
Graph database technology is specifically designed and optimized to identify patterns and hidden connections in highly interconnected data sets. Graph data stores are easy to use because they mimic the way the human brain thinks and maps associations using neurons (nodes) and synapses (relationships).
A graph database efficiently stores and queries connected data in a format of nodes and relationships. As a result, graph technology excels in problems where there is no prior knowledge of the length or shape of the path by efficiently finding neighboring data using graph storage and infrastructure.
Kay has listed some of the most typical use cases for graphs:
- Fraud detection and analysis
- Artificial intelligence and machine learning
- Real-time recommendation engines
- Knowledge graphs
- Network and database infrastructure monitoring
- Master Data Management (MDM)
All of these have one thing in common: to be successful, a business must use data sets that dynamically change over time and are connected to each other.
Neo4j offers four advantages to using graph databases:
- Natural and easy data modeling
- Ability to adapt to changing data structures
- Support for real-time updates and concurrently executed queries
- Storage and natively indexed data structure
Connected data in property graphs allows the business to illustrate and navigate many interactions and find context for the next game-changing application or analysis.
Kay encourages businesses to choose a cloud strategy that fits their needs and look for a vendor that allows them to move their assets whenever they want, as many businesses themselves have scalable cloud strategies. This is because flexibility is very important.
“With us, Neo4j, you find value. It has been predicted that by 2025 all smart applications will use graphics technology in one way or another. Thus, graph databases are a natural fit for any new application being built today. It’s because it’s much easier to get information from them,” Kay believes.
The Neo4j graph database platform has become a mainstream form of information technology and has benefited businesses in various ways. Many groundbreaking enterprise use cases in fraud detection, financial services, life sciences, data science, knowledge graphs, and other fields have been made possible by the advantages speed and efficiency of the Neo4j graph database.
In today’s VUCA environment, data security is critical, challenging and fluid, especially when it comes to sensitive data and the laws that govern it. Neo4j offers both security and compliance, and frequently updates, improves and expands its platforms. They can secure data through various methods including access control, user roles, protected environments, and system design, among others.
Neo4j graph databases have become essential technology for hundreds of businesses, government agencies and non-governmental organizations and will continue to be there. Kay is optimistic about the future and confident that Neo4j will always be able to offer the best services for the public and private sectors.