Bankers Need Analytics They Can Understand, Not Ph.D’s

Posted on November 14, 2014 by Bahram Yusefzadeh, Chairman

I recently read an article in American Banker titled, “Training Bankers to Be Data Scientists.”  Perhaps the title of the article is a bit misleading or maybe it was meant to rankle data scientists or get their attention.  Whatever the case, I don’t believe we are training bankers to be data scientists. Rather, we are training bankers to use the information that emanates from today’s new, advanced analytics solutions to empower anyone in the organization—from the front line teller, to the loan officer to the bank president.

As we’ve said in other blog posts, Red Lambda believes Big Data analytics should be accessible and easy to use for a wide swath of people within an organization. This democratization-of-data concept is one that we believe will help address the data scientist shortage.  It doesn’t negate the role of the data scientist, but rather, by making analytics accessible and easy to use throughout the organization, it will actually evolve and enhance the data scientist’s position to a far more strategic role, which is vitally important in driving innovation. 

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Posted in Data Scientists, Financial Institutions | Leave a comment |

Is IT Security Being Impacted by Attrition?

Posted on November 03, 2014 by Chris Pearson, Security Analyst

Home Depot. JP Morgan. Target.  While the motivations, perpetrators and infiltration methods of each of these serious breaches may have been different, there is an interesting thread of similarity we might observe between them beyond just the obvious financial fallout.

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5 Key Factors When Considering a Cybersecurity System

Posted on October 29, 2014 by Iain Kerr, CEO

It doesn’t matter whether you are a government, a retailer, a financial services organization, a healthcare provider, or other entity – cyberattacks are dominating the headlines. Organizations worldwide are diligently seeking advanced solutions to combat these attacks and protect their data assets. As such, it’s imperative that as organizations seek out the right threat detection  solution to implement, there are some major differences that they need to be aware of between offerings. Here are some key questions and criteria to consider as your organization conducts its due diligence process to evaluate what solution will best protect its data assets:

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Posted in Big Data, IT Security, Advanced Persistent Threats, Situational Awareness, Red Lambda, Advanced Analytics | Leave a comment |

Reflections on Launching Disruptive Technology

Posted on September 28, 2014 by Bahram Yusefzadeh, Chairman

We are excited that Red Lambda has received yet another award this week for its technology, the second year-to-date. The most recent was the 2014 SIIA NextGen Award in Security for Most Innovative Company.  This comes on the heels of being named a Red Herring Top 100 North America Winner. Additionally, we have been nominated by Red Herring for its Global 100 Award, which will be decided in November.

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Posted in Industry Events, Red Lambda, Awards | Leave a comment |

Are We Setting the Security Breach Detection Bar Too Low?

Posted on September 16, 2014 by Steven Sack, VP of IT

Tripwire conducted a survey recently of IT security professionals and the results were pretty interesting. One of the questions asked the respondents to indicate how fast they could detect a breach. The poll revealed a huge disconnect between how fast the IT professionals said they could detect a breach, and the cold, hard industry statistics that reveal a much different picture, specifically in the big enterprise.

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Posted in IT Security, Industry Trends | Leave a comment |

Roles May Evolve, But Data Scientists Will Continue to Be a Big Part of Big Data

Posted on September 03, 2014 by Dan Nieten, CTO

In Michael Healey’s recent Information Week article entitled, “Analytics For All, No Data Scientists Needed,” Healey takes the stance that we need to make data accessible and usable by the non-technical end user and provide tools that help that user make sense of the data. He also cites the data scientist shortage and the high price tag of hiring these high-level staffers as key reasons for the need for analytics and BI solutions to shift away from solely the domain of the PhDs and toward developing tools that we can put in the hands of the end user.

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Posted in Data Scientists, Industry Trends | Leave a comment |

Just Because We Can Use Big Data Analytics, Should We?

Posted on July 15, 2014 by Dan Nieten, CTO

As a data scientist, some of the most important and interesting aspects of my role include exploring data to identify relationships, cause and effect, performing “what if” analyses on different scenarios, and overall to answer questions.

Well, after reading a recent Bloomberg article that explains how some large US healthcare providers are using data collected from consumers such as their food and lifestyle purchases to assess whether or not someone is more or less likely to get sick, I think we need to bring some those same critical thinking skills to bear on what are some very serious privacy concerns surrounding the use of people’s personal and behavioral information.

Under the guise of trying to improve people’s health, there are so many “nanny state” red flags mentioned in this article, it’s hard to know where to begin.

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“Not Invented Here Syndrome” Creates Vulnerabilities On/Off the Battlefield

Posted on June 09, 2014 by Bahram Yusefzadeh, Chairman

I recently read an investigative article by Sara Carter, Senior Washington Correspondent for The Blaze, where the author outlined how the Army had systematically and repeatedly denied warfighters in theatre the use of highly effective private-sector intelligence and analytics technology, and instead, continued to promote and defend inferior technology they built themselves.  In one instance, a company commander whose battalion was the first on the scene in Zabul, Afghanistan in 2009 had to build their intelligence infrastructure from scratch, stating “Microsoft PowerPoint was their only real tool.” Are we really saying that this was the best we could have done for our troops?

In the private sector, we have a name for this. It’s called “NIH” or “not invented here” syndrome.  The Army program that was being protected began back in 2003, with $28 billion spent on its development and ongoing maintenance. If you can get over the astronomical price tag for a second and simply reflect on all the technological changes that we have experienced over that 10-year period, it’s staggering: GPS, texting, Wikipedia, Facebook, iPhone and smart phone technology, the semantic web, SOA, cloud….the list goes on.  This is surely one of the reasons why the newer technology cited in the article created by Palantir was superior.  It was built on much newer, advanced underlying platforms that just didn’t exist in 2003.

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Posted in Big Data, IT Security, Situational Awareness | Leave a comment |

Thoughts and Observations from the Red Herring Winner’s Circle

Posted on June 03, 2014 by Bahram Yusefzadeh, Chairman

Last week was a whirlwind for Red Lambda. I am thrilled to report that after a tedious pre-qualification process, a series of elimination phases, and an intense onsite presentation, Red Lambda was selected out of approximately 3,000 entries as a Red Herring Winner for the North America Top 100 Award.

It’s easy to understand why the prestige behind this award is palpable to the entire team here at Red Lambda. It’s well known in tech circles that Red Herring has always had a knack for identifying truly innovative startups that in many cases, burgeon into companies that become household names and permeate our culture like Facebook, Google, eBay and Skype.  We are honored and humbled to be in the “hall of fame” so to speak, and among the ranks of companies like these that started out with much potential and promise, just like Red Lambda. At the time they were selected for this award, perhaps only the founders, with their powerful and unstoppable vision for the future, could foresee the magnitude and impact their organizations would have on the global economy in just a few years. Red Herring obviously knew they would be big, but just how big probably was unclear.  At Red Lambda, we believe we are in a similar position and envision our solutions changing the paradigm of how we fight cybercrime.

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Top 7 Limitations of Today’s IT Security Systems

Posted on June 03, 2014 by Dan Nieten, CTO

From the retail sector, to banking, to government agencies and other entities, organizations worldwide continue to struggle with IT security.  While statistics show that fundamentals such as a lack of planning for a cybersecurity attack or worse, the mindset of “it won’t happen to us,” are still prevalent, there is another reason companies are overwhelmed. It’s because their legacy IT environments are, well—overwhelming.

To protect their data, CIOs and CISOs have resorted to a wide array of point solutions from multiple, disparate vendors, creating a collection of heterogeneous, disparate data sources.  This, in turn, has made their IT environments harder and harder to manage and protect.

Let’s take a look at some of the top technical reasons why organizations grapple with data security and the inherent limitations within current systems that are causing today’s CIOs and CISOs such angst:

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Posted in Big Data, IT Security, Advanced Persistent Threats, Red Lambda, Malware | Leave a comment |

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