Daily Tech Digest - September 25, 2017

Deloitte hit by cyber-attack revealing clients’ secret emails

The Guardian understands Deloitte clients across all of these sectors had material in the company email system that was breached. The companies include household names as well as US government departments. So far, six of Deloitte’s clients have been told their information was “impacted” by the hack. Deloitte’s internal review into the incident is ongoing. The Guardian understands Deloitte discovered the hack in March this year, but it is believed the attackers may have had access to its systems since October or November 2016. The hacker compromised the firm’s global email server through an “administrator’s account” that, in theory, gave them privileged, unrestricted “access to all areas”. The account required only a single password and did not have “two-step“ verification, sources said.

Let’s Not Get Physical: Get Logical

In the ideal future, there would be no programmers responsible for data movement. Instead, the data infrastructure would provide the illusion that all data is almost instantly available at the physical point of its need. Data consumers, including data analysts, would log on to a data catalog, shop for, and request the data they needed. That data would be described at a high level, with its business meaning clearly spelled out for both the human and the machine. (We call that computable meaning.) When a user requested data to be delivered to a certain point (perhaps a virtual point in the cloud), the data infrastructure would start copying the data from its origin, using replication techniques—meaning no potentially deforming transformations would be built into the data movement.

How to Survive Wall Street’s Robot Revolution

Consider the junior investment banker, who spends much of his or her time collecting and analyzing data and then creating reports. Consulting firm Kognetics found that investment-banking analysts spend upwards of 16 hours in the office a day, and almost half of that is spent on tasks like modeling and updating charts for pitch books. Machine learning, and natural language processing techniques, are already very good at this. Workers in compliance and regulation have a different worry: Over the last five years, their ranks have doubled, while overall headcount at banks declined 10 percent, according to research by Citigroup. Automating those activities — so-called regtech — could be good news for financial institutions looking to control the rising cost of compliance, and bad news for people looking to keep their jobs.

Data Governance: Just Because You Can, Doesn't Mean You Should

The impact of data use by businesses and government organizations on individuals, communities, and the environment is under constant scrutiny around the world. We are starting to see this formalized with security and privacy regulations such as the EU’s General Data Protection Regulation (GDPR) and the Privacy by Design approach for data systems. But even adhering to legal requirements and compliance regulations will not be enough to protect the business when it comes to ethical data use. Why? Ethical concerns precede legal and compliance requirements. And the stakes are large. Brand reputation is at risk. One wrong move could cause a significant loss, if not the whole business to fail.

Transforming processes with big data: Refining company turns to SAP Process Mining

A key component of the effort to improve process management is SAP Process Mining by Celonis 4.2.0, a process mining software that uses "digital traces of IT-supported processes" to reconstruct what happens in a company. The application shows all of the process variants, and it provides visualization of all currently running processes. The technology is expected to play a critical role in the effort to enhance processes, providing full transparency and analysis so the company can observe business processes directly from the vast data present in IT infrastructure systems such as its SAP enterprise resource planning (ERP) platform. Based on the analytical findings and process key performance indicators (KPIs), the company will be able to identify process improvement opportunities, Rajatora said.

From accounting to code: one woman’s journey to a career in tech

The pressure to find that first role can feel overwhelming, and often people take the first semi-suitable job they find, at the expense of their actual passions. Getting that first experience may well open the doors to something better, but it could also colour your experience of this new industry, for better or worse. As far as I was concerned, I’d had a lot of experience working with traditional banks in my previous role, and spent at least four or five hours each day attempting to complete straightforward tasks across seven banks in five different countries. This meant that fintech and its potential to transform the banking landscape felt like a very attractive prospect to me, and that Starling Bank’s mission was something I felt strongly about.

The Battle for the Cloud Has Not Even Started Yet

The real war will break out when solutions, offered via the cloud, can support business innovation and business differentiation: When cloud solutions drive business benefit directly and not benefits to IT. For that to happen we need to talk about what a business does (its business processes and decisions) and how a business operates, not what IT does and how IT operates. This might seem like a small point but in the overall scheme of things, in the overall war, I think this is a massive point. If I am lucky I might even be around long enough to be proven right (or wrong). So this is where my little framework starts to be useful. Yes, IaaS is a well-known battle field and the armies are out there fighting it out. Of the next battle fronts, PaaS and SaaS will form up. In fact they are forming up already though they are not seen as important yet by many.

Digital is a Strategic Vehicle for Business Disruption

According to the research findings, the top three success factors for customer experience transformation is: 1. customer centric culture, 2. management/leadership buy-in, and 3. visibility into and understanding of the end customer experience. The research also revealed that customer experience (CX) leaders are more likely to be using emerging technologies and creating personalized and omni-channel experiences. CX leaders are also more likely to use data to predict and anticipate consumer needs, understand lifetime value, and track customer advocacy. CX leaders also have a much higher sense of urgency - they believe there is no time to waste in transforming to deliver a superior customer experience. Data is at the heart of meeting the elevated expectations of today’s connected customers.

CISOs' Salaries Expected to Edge Above $240,000 in 2018

A candidate's skills, experience, and the complexity of the role will all need to be taken into consideration when assessing which salary percentile is appropriate. "The midpoint salary is a good indicator of someone who meets the requirements of an open role," Reed says. The midpoint range for CISOs and information systems security managers have improved over the past couple of years. For example, the Dark Reading 2016 Security Salary Survey found the median annual salary of IT security management was $127,000. But fast forward to 2018: the Robert Half Technology survey expects information systems security managers to earn as much as $194,250 if in the 95th percentile salary range, followed by $164,250 for the 75th percentile, $137,000 at the midpoint, and $115,250 at the 25th percentile, according to the report.

Facebook Relents to Developer Pressure, Relicenses React

"We won't be changing our default license or React's license at this time," said Wolff, who apologized "for the amount of thrash, confusion, and uncertainty this has caused the React and open source communities." Furthermore, he said, "We know this is painful, especially for teams that feel like they're going to need to rewrite large parts of their project to remove React or other dependencies." One developer in that camp is Matt Mullenweg -- the main guy behind the popular WordPress platform -- who threatened to redo project Gutenberg, a "block editor" from the WordPress community designed "to make adding rich content to WordPress simple and enjoyable." "The Gutenberg team is going to take a step back and rewrite Gutenberg using a different library," Mullenweg said in a Sept. 14 post.

Quote for the day:

"No plan survives contact with the future. No security is future proof. That's the joy and terror of cyber security." -- J Wolfgang Goerlich‏