Financial accounting is an information system. This was true already many years (maybe centuries) before we came up with the term information system and started using it in connection with computer technology. Information because it processes data and gives its users useful information—for example, about whether their “business” sufficiently assesses invested funds or whether their company is unduly over-indebted despite …
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Profinit & COVID-19
We get often asked if we are open for business and how we deal with COVID-19 pandemic. This blogpost says ‘we are open for business’ and provides more details about the local situation, our projects and international business. The situation in the Czech Republic Similar to other countries facing COVID-19 epidemic, the Czech government put in place number of measures …
Microsoft Ignite The Tour Prague: An Azure World
This was the first year that Prague made the list of cities to host Microsoft Ignite The Tour. So, we couldn’t miss the opportunity to hear the latest news that Microsoft has for us. From the number and variety of attendees at the Prague Congress Centre, it was possible to conclude that the tour has a great international reputation. The overarching …
Personal Data Processing: What Data Scientists Don’t Want to Hear
Up until just a few years ago, personal data protection was grossly undervalued. If a person was a bit protective of his data and wanted to do something like see the general terms and conditions with rules for personal data processing before signing a contract, it was strange. If he was paying attention to mobile app permissions or using a special app for encrypted communication, …
Profinit and the Airport
Have you flown anywhere in the last 15 years? If so, did you use the services of Prague’s largest airport? If you answered yes to both questions, that means you: Survived the flight Most probably used data from systems supplied and operated by Profinit Profinit has been supplying Prague Airport with solutions for the integration of key operational data for …
Autonomous Robot Rescuer Is the Best IT Master’s Thesis of the Year According to Czech and Slovak Academics
It can move autonomously in an unfamiliar confined environment and create a detailed map. This is the role of a six-legged rescue robot whose “brain” was designed and tested by Master’s student Jan Bayer from the Faculty of Electrical Engineering at the Czech Technical University (CTU) in Prague. His precisely executed Master’s project with great potential for society at large won him …
Why Business Intelligence Projects Fail (And How to Avoid It)
by Petr Hájek, Information Management Professional This picture was randomly taken at a small local Asian marketplace. It literally (and I think unintentionally) offers a single item for the price of 3 items. This is funny when you are buying a T-shirt. It is not funny if you are spending millions. It reminds me of a colleague of mine who always says that when a company decides …
Book Review: ‘Fundamentals of Data Visualization‘ by Claus O. Wilke
by Dominik Matula, Data Science Consultant Book details: 390 pages ISBN-13: 978-1492031086 ISBN-10: 1492031089 About the Author: Claus O. Wilke is a computational and evolutionary biologist and chair of the Department of Integrative Biology at University of Texas at Austin, where Wilke studies the evolution of molecules and viruses using theoretical and computational methods. He is also the author of the Cowplot and ggridges plotting packages. A whole book about …
Book Review: ‘How not to be wrong’ by Jordan Ellenberg
by Sergii Stamenov, Data Science Consultant About the Author: Jordan Ellenberg is the John D. MacArthur Professor of Mathematics at the University of Wisconsin-Madison and a 2015 Guggenheim fellow. Author of a few books on number theory. He has written articles on mathematical topics in the New York Times, Washington Post, Wall Street Journal, and many others. Why I liked this book: It’s fun …
AI in Banking – 4 major pain points in the DACH region
by Barbora Janulíková, Business Development Manager Despite the common thrashing German, Austrian, and Swiss banks often get at conferences relevant to the topic; they do put a significant amount of effort into adopting AI for meaningful use cases. However, as with all innovations, the financial industry is still dealing with some pain points concerning AI. 1. Digital Washing – Chatbots are no …