Definitions - Technonguide Informative Technology Guide Wed, 19 Jul 2023 09:22:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.1 https://technonguide.com/wp-content/uploads/2020/09/cropped-document-32x32.png Definitions - Technonguide 32 32 The Basics of AutoCAD Substation Design: A Comprehensive Guide https://technonguide.com/the-basics-of-autocad-substation-design-a-comprehensive-guide/ Wed, 19 Jul 2023 09:22:51 +0000 https://technonguide.com/?p=29220 When it comes to designing substations, precision and accuracy are paramount. AutoCAD, the industry-standard computer-aided

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When it comes to designing substations, precision and accuracy are paramount. AutoCAD, the industry-standard computer-aided design software, provides engineers and designers with powerful tools to create efficient and reliable substation designs. In this comprehensive guide, we will explore the basics of AutoCAD substation design, covering essential concepts, key steps, and best practices to help you get started on the right foot.

Understanding Substation Design:

  • To begin, let’s establish a solid foundation by understanding the purpose and components of a substation. We’ll delve into the role of substations in the power grid, explore different substation configurations, and familiarize ourselves with the essential equipment involved, such as transformers, circuit breakers, and busbars.

Introduction to AutoCAD:

  • Before we dive into substation design with AutoCAD, let’s familiarize ourselves with the software. We’ll cover the user interface, navigation tools, and essential commands that will enable you to efficiently create, modify, and annotate your substation designs. This section aims to provide a solid understanding of the AutoCAD workspace and its various functionalities.

Setting Up the Substation Design:

  • Properly setting up your AutoCAD workspace for substation design is crucial. We’ll discuss how to create accurate and appropriately scaled drawings, set up layers for different substation components, and utilize blocks and symbols for efficient design workflows. This section will ensure that your drawings are organized, visually clear, and easy to understand.

Creating Substation Layouts:

  • In this section, we’ll explore the process of creating substation layouts using AutoCAD. We’ll cover techniques for placing equipment, drawing lines and connections, and creating precise geometry. We’ll also discuss strategies for optimizing space utilization and ensuring proper clearances between components. By the end, you’ll have the knowledge to create functional and visually appealing substation layouts.

Electrical Schematics and Wiring Diagrams:

  • Accurate electrical schematics and wiring diagrams are critical for effective substation design. We’ll delve into the tools and techniques in AutoCAD for creating electrical diagrams, such as using symbols, adding annotations, and ensuring proper circuit connectivity. This section will guide you through the process of translating your substation layout into detailed electrical schematics.

Annotating and Documenting Substation Designs:

  • Proper documentation is essential for communication and future reference. We’ll explore how to add text, dimensions, labels, and annotations to your substation designs using AutoCAD. Additionally, we’ll discuss strategies for creating a comprehensive and well-structured set of drawings that convey all necessary information to stakeholders.

Best Practices for AutoCAD Substation Design:

  • To wrap up our guide, we’ll share some best practices that will help you optimize your substation design process. We’ll cover topics such as file management, design standards and compliance, collaboration techniques, and leveraging AutoCAD’s advanced features. By adopting these best practices, you can enhance your efficiency, accuracy, and overall design quality.

Designing substations using AutoCAD requires a solid understanding of both substation engineering principles and the capabilities of the software. In this comprehensive guide, we have provided you with the fundamentals of AutoCAD substation design, covering essential concepts, key steps, and best practices. By applying this knowledge, you’ll be well-equipped to create efficient, reliable, and visually appealing substation designs that meet industry standards and project requirements. So, roll up your sleeves, dive into AutoCAD, and start designing the substations of tomorrow.

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How can ERP System Empower Your EPC Business: A Comprehensive Guide https://technonguide.com/how-can-erp-system-empower-your-epc-business-a-comprehensive-guide/ Tue, 11 Jul 2023 02:37:01 +0000 https://technonguide.com/?p=29044 Usually, many companies fail to perform to their capabilities in the EPC industry. The primary

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Usually, many companies fail to perform to their capabilities in the EPC industry. The primary reason for this is the company’s inability to scale up. On seeing the business model, an expert can figure out that the profit margins for each project are not very high. It becomes vital for such enterprises to scale up to take bigger engineering, production, and construction projects with more profit margins for better growth.

EPC ERP enables organizations to scale up quickly with increased decision-making capability of the management due to increased visibility through desired reports and graphs. These advanced, high-performance systems help companies to schedule processes properly and generate automatic reports based on accurate data.

Read further to learn the benefits of an ERP system that empowers EPC businesses.

  • Project wise budgeting

In EPC businesses, the execution often differs from estimating the project expenses, making budget control a huge task and achieving accurate results more complicated.

With ERP implementation, you can manage and control procurement, sub-contracting, and other overhead expense budgets. Managers can control, modify, and monitor these budgets when needed.

  • Stock re-conciliation

Re-conciliation of stock in the warehouse and on the job site is the primary cause of profit leakage and, thus, a huge concern for the top management. Reconciling the value and stock is a time, resource-consuming, and expensive affair. You can easily automate the stock re-conciliation task with a robust EPC industry-specific ERP system.

  • Inventory tracking

Tracking inventory is important as it decides upon a huge chunk of profit-making and loss-saving. With many fast-tracked projects to be completed in a limited timeframe, EPC companies usually risk placing duplicate orders to the suppliers for the same materials at different job sites and, thus, require efficient inventory management. However, managing and tracking inventory is a complex, time-consuming task you can complete quickly through ERP systems.

  • Consolidating meaningful reports accurately

Getting the exact reports from existing processes and consolidating them often lack accuracy despite the huge effort of employees. And a generation of inaccurate reports usually results in wrong decision-making, affecting the business in the long term. ERP systems can automate the report generation process, saving the cost of man hours and time. You can also regularly update the ERP application’s day-to-day functions regularly to access exact and meaningful reports.

  • Tracking labor attendance

Aligning with labor-related compliance is one major aspect that EPC companies need to focus on. However, complying with these labor laws is complex and eats up a lot of time. The manager’s ability to capture the regular attendance of workers at the site and office can make the task easier.

With stringent labor laws and regulations in the EPC industry, ERP applications can help smoothen the labor attendance capturing and tracking process, making your company compliant with laws. Moreover, powerful ERP solutions are capable of tracking changing regulations and compliance within the industry.

  • Effective project closures

Every EPC company’s version of project closure is distinct. For the procurement team, the project closes after procuring all desired items for production or construction as per the order. At the same time, the sub-contracting team considers the project to be completed when the installation part is over. ERP systems close the projects as per the original checklist to ensure that the project is being closed according to pre-determined terms and conditions.

  • Faster decision-making with increased visibility

Making business decisions for the companies operating in the dynamic EPC industry is not easy and requires analytical reports and visibility throughout the organization. These decisions can turn out to be disastrous because of inaccurate or missing data. Only a company with a high-performance ERP system providing the right reports and accurate data can make extremely important business decisions.

Concluding Thoughts

In the project-based industry, delays are bound to happen if companies fail to plan in three crucial verticals, i.e., procurement, execution, and erection. You can streamline the project according to the plan and ensure proper execution only after knowing the possible roadblocks.

ERP Software for Construction can give an exact reason for project delay beforehand, allowing managers to resolve identified issues on time and ensuring project closure on schedule. Furthermore, remember that successful ERP implementation projects are more about people and processes than technology.

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SQL Server Change Data Capture (CDC) – A Comprehensive Guide https://technonguide.com/sql-server-change-data-capture-cdc-a-comprehensive-guide/ Fri, 30 Jun 2023 02:33:40 +0000 https://technonguide.com/?p=28916 Introduction SQL Server CDC is a powerful feature in Microsoft SQL Server that enables organizations

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  • Introduction
  • SQL Server CDC is a powerful feature in Microsoft SQL Server that enables organizations to efficiently capture and track changes made to their database tables. By providing a comprehensive audit trail of data modifications, CDC offers valuable insights into historical data changes and supports various data management tasks. This article aims to provide a comprehensive guide to understanding, implementing, managing, and troubleshooting CDC in SQL Server.

    1. Understanding Change Data Capture

    Change Data Capture, often abbreviated as CDC, is a feature designed to capture and store changes made to user tables in a SQL Server database. The primary purpose of CDC is to facilitate auditing, data integration, and data synchronization scenarios. By tracking changes at the row level, CDC enables users to identify and analyze modifications such as inserts, updates, and deletes.

    The benefits of using CDC in SQL Server are manifold. Firstly, CDC provides an efficient and low-impact mechanism for capturing changes, minimizing the performance overhead on the database server. Secondly, it offers a reliable and comprehensive audit trail that can be utilized for compliance, data analysis, and debugging purposes. Additionally, CDC simplifies the process of integrating data across multiple systems and enables near real-time synchronization between databases.

    III. Implementing Change Data Capture in SQL Server

    1. Enabling Change Data Capture

    To enable CDC at the database level, a few essential steps need to be followed. These include enabling CDC on the database, creating CDC capture and cleanup jobs, and configuring retention policies. Additionally, CDC can be selectively enabled on specific tables and columns by employing appropriate configuration settings.

    1. Working with CDC Tables

    CDC utilizes dedicated system tables to store the captured change data. These tables include the capture instance table, which tracks changes made to each table, and the associated change tables that hold the actual changed data. Understanding the schema and structure of these CDC tables is crucial for retrieving and utilizing the captured change data effectively.

    1. Managing Change Data Capture
    2. Handling Data Capture Processes

    Proper monitoring and management of CDC processes are essential for ensuring smooth operations. Administrators can use system views and functions provided by SQL Server to monitor CDC activity, track the progress of capture jobs, and troubleshoot any potential issues. Additionally, modifying and optimizing CDC capture settings, such as adjusting the capture instance interval or the retention period, can enhance the performance and efficiency of CDC processes.

    1. Dealing with Data Cleanup and Retention

    As CDC captures and stores change data over time, managing the cleanup and retention of this data becomes crucial. Administrators can define retention policies to control how long change data should be retained in the CDC tables. Regularly purging old change data not only ensures optimal storage utilization but also helps maintain the performance of the CDC feature.

    1. Consuming Change Data in SQL Server
    2. Reading Change Data

    Once change data is captured and stored in CDC tables, various techniques can be employed to read and analyze the changes. SQL queries can be used to retrieve specific change data based on filtering criteria, such as time ranges or specific columns. Understanding the schema and structure of CDC tables is essential for constructing accurate queries to extract the desired change data.

    1. Synchronizing Data with External Systems

    CDC offers integration options for consuming change data and synchronizing it with external systems. By utilizing CDC functions and APIs, organizations can efficiently propagate changes to other databases or data integration platforms, ensuring consistent data across different systems. CDC can play a vital role in scenarios such as data warehousing, data replication, and data synchronization between on-premises and cloud environments.

    1. Troubleshooting Change Data Capture
    2. Common Issues and Error Handling

    While implementing CDC, users may encounter common challenges or errors. These can range from configuration issues to performance bottlenecks or data inconsistencies. Understanding the common issues and their resolutions is crucial for maintaining the stability and reliability of CDC. SQL Server provides various system views and functions that can aid in troubleshooting CDC-related problems.

    1. Performance Considerations

    To optimize CDC performance in SQL Server, administrators can employ several techniques. This includes carefully selecting appropriate capture instance intervals, leveraging parallelism, optimizing storage configurations, and fine-tuning retention policies. Regular performance monitoring and addressing potential bottlenecks can ensure smooth CDC operations and minimize any adverse impact on the overall database performance.

    VII. Frequently Asked Questions (FAQs)

    What is the difference between CDC and triggers in SQL Server?

    Can CDC be enabled on all database objects?

    How does CDC handle schema changes?

    Is CDC available in all editions of SQL Server?

    Can CDC be used with non-SQL Server databases?

    VIII. Conclusion

    This comprehensive guide has provided an in-depth understanding of SQL Server Change Data Capture (CDC) and its importance in database management. CDC offers numerous benefits, including efficient tracking and capturing of data changes, comprehensive audit trails, and simplified data integration and synchronization. By following the guidelines for enabling, managing, and troubleshooting CDC, organizations can leverage this powerful feature to enhance their data management capabilities and ensure accurate and reliable data tracking in SQL Server.

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    FAQs About BMW Tuning https://technonguide.com/faqs-about-bmw-tuning/ Fri, 16 Jun 2023 04:35:32 +0000 https://technonguide.com/?p=29160 BMW tuning may be just what you need to take your vehicle’s performance to the

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    BMW tuning may be just what you need to take your vehicle’s performance to the next level. You can maximize driving power, speed, and comfort by customizing various aspects like your car’s engine settings, exhaust system, and suspension setup. A professional BMW tuner can evaluate your vehicle and recommend suitable upgrades. Here are seven frequently asked questions about BMW tuning:

    1. What Is BMW Tuning?

    This process involves optimizing the performance of a BMW by making various modifications. Car manufacturers calibrate certain parts and settings to suit the average driver’s needs. These may not reflect the preferences of a particular car owner. When you customize the settings and upgrade various parts, you can tailor your vehicle to meet your specific needs for power, speed, handling, comfort, or fuel efficiency. Your car may perform better, resulting in increased driver satisfaction and a better overall driving experience.

    2. What Benefits Can I Get By Tuning My BMW?

    Your BMW tuning benefits will depend on the modifications you’ll get. Remapping the ECU can unlock the engine’s power and torque, allowing you to take advantage of your car’s full potential. Upgrading the exhaust system can reduce back pressure and improve overall engine performance. Enhancing your suspension setup and changing your tires can also make the car more stable and comfortable during bumpy rides. New, better-quality brakes can promote more safety and control when driving. A BMW tuner may help make your car more powerful, responsive, and safer.

    3. What Are Popular BMW Tuning Modifications?

    ECU remapping is a common modification BMW owners make to optimize performance. It involves adjusting the engine’s parameters like fuel delivery, timing, and air-to-fuel ratio. The existing manufacturer’s settings are overwritten to unlock the engine’s hidden power and torque. A cold air intake system is another popular modification, and it supplies more oxygen to the engine, resulting in improved combustion and better acceleration. Other common modifications are exhaust upgrades, suspension improvements, forced induction systems, high-performance tires, higher-quality air filters, and advanced brake components.

    4. Where Do I Take My BMW for Tuning?

    A BMW performance shop is the wisest option for car tuning. These shops specialize mainly in BMWs, meaning they have gained adequate knowledge about this car brand. They know the ins and outs of BMWs and can advise you on modifications to meet your performance needs. They also have access to superior-quality parts and the latest tuning technology. You can expect professional advice and reliable services from an experienced BMW tuner. While a mechanic may be less expensive, they’re usually jacks of all trades, so they may not have in-depth knowledge about BMWs.

    5. Is BMW Tuning Safe?

    As long as you take your car to a reputable and experienced BMW tuner, tuning should be completely safe. These professionals know what modifications to make and how to adjust various settings while prioritizing safety. They use fine-tuning techniques and high-end tools for precise upgrades. An experienced tuner also knows how to avoid certain risks like overheating and over-stressing your engine. Ask for the tuner’s qualifications and experience before entrusting them with your BMW. Don’t ask for more than your car can handle. It may be tempting to push for the highest possible performance but set realistic goals.

    6. How Much Does BMW Tuning Cost?

    The cost of BMW tuning will depend on the modifications you want and the shop you use. Simpler tasks like ECU remapping may only cost a few hundred dollars, while more extensive modifications like suspension upgrades or forced induction systems can cost quite a bit more. If you need several modifications, the cost goes up. Consulting a BMW tuner is the best way to get an accurate estimate. They can advise you on the necessary parts and provide a cost breakdown.

    7. Will BMW Tuning Void My Insurance?

    The effects of tuning on your insurance can depend on the modifications and your insurer. Some insurers allow performance modifications but increase your premiums to reflect the higher risk. Others may not offer coverage at all. Contact your insurer before tuning and determine if they’re willing to insure you after the modifications are complete. If they allow some modifications and not others, you can decide which improvements you can make without voiding your insurance.

    Find a Reliable BMW Tuner Today

    Tuning your BMW has many benefits, but you need a reliable professional to do the job. An experienced BMW tuner can provide superior services and high-quality parts, allowing you to maximize your vehicle’s performance. Contact a BMW performance shop to start the tuning process.

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    What is cloud data warehousing? https://technonguide.com/what-is-cloud-data-warehousing/ Sat, 20 May 2023 01:48:47 +0000 https://technonguide.com/?p=28080 Data warehousing is a tool that takes in a large amount of data and processes

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    Data warehousing is a tool that takes in a large amount of data and processes and stores them in a way that makes it easier to analyze and retrieve. Today, there’s no doubt that data warehousing has evolved from the traditional methods of storing data into a more complex and innovative structure- cloud data warehousing.

    As the name suggests, cloud data warehousing refers to running a data warehouse system on the cloud. The flexibility, scalability, and affordability allow businesses to be more agile in their decision-making process.

    This blog post will delve into cloud data warehousing benefits, how it works, and insights you need to know before diving in.

    The Benefits Of Cloud Data Warehousing

    The growing adoption rate of cloud-based data warehousing is mainly due to its exceptional benefits. One of the most significant benefits is accessibility, as data can be accessed from any device with internet capabilities. Moreover, businesses don’t have to worry about in-house storage and processing of hardware, as cloud computing provides data warehousing in a subscription model that is charged by usage.

    Cloud data warehousing also provides scalability and flexibility to expand or decrease resource consumption based on business needs, which in turn helps businesses to scale up and down effectively. Unlike traditional on-premises data warehousing, cloud-based solutions can be up and running within hours, which results in faster time-to-market.

    Why Businesses Choose Data Warehousing

    As your business expands, making well-informed decisions that move your business forward can be challenging when data is scattered across various platforms. Data warehousing companies often receive inquiries from businesses with data reporting in different disconnected systems.

    A solution is to centralize all your data in one place and obtain precise business metrics that align with your business’s KPIs. This is precisely why Data Warehousing is so valuable. It’s a technology that extracts data from multiple sources, enabling comprehensive analysis for better insights into corporate performance.

    Five Pillars Of Cloud Data Warehousing

    The effectiveness of data warehousing can be attributed to its five essential pillars that contribute to the accuracy, accessibility, and efficiency of data management.

    Dimensional Modeling

    Dimensional modeling is the first pillar, which allows for optimized data storage in data warehousing by combining facts and dimensions to fulfill report needs and expedite data retrieval.

    Data Integration

    The second pillar is data integration, where online pipeline services like Fivetran and Stitch Data stream data into the warehouse and connect to all data sources.

    Transformation

    The third pillar is transformation, where code is written using DBT to enable faster report generation.

    Data Governance

    The fourth pillar is data governance, which enforces principles and practices to guarantee data quality and consistency throughout its lifecycle.

    Analytics

    Finally, closely related to dimensional modeling, the fifth pillar is analytics, which generates aggregated tables to summarize data as required while ensuring fast response times for visualization tools such as Tableau, Mode, Qlik, or Looker.

    Combining these pillars provides a complete data warehousing solution that satisfies all business intelligence requirements. Dimensional modeling and analytics work together to run reports efficiently and provide precise insights into business operations. Data integration and transformation provide a streamlined process for data warehousing that facilitates analytics.

    Data governance ensures that data is always clean, compliant, and consistent. A company with expertise in data warehousing and a commitment to staying updated with the latest trends in data management can help you establish a robust data infrastructure that enables your organization to make data-driven decisions confidently.

    Advantages Of Using Cloud Data Warehousing

    Cloud data warehousing is taking over traditional data warehousing due to the following advantages:

    • Ease of access and sharing of information.
    • Improved flexibility and scalability.
    • Affordability in terms of subscription-based charges.
    • Security and compliance since the cloud data is encrypted and stored in remote servers.
    • Improved load times and overall performance since the systems run on the cloud.

    A Breakdown Of Cloud Data Warehousing: In Closing

    As technology advances, businesses must adopt innovative data warehousing tools to remain competitive. Cloud data warehousing provides an innovative and efficient platform for handling data to generate better insights, improve decision-making and optimize business performance.

    Cloud-based data warehousing is a strong contender for businesses worldwide with scalability, affordability, and improved security. It’s essential to harness the capabilities that cloud data warehousing offers by establishing quality data governance, proper integration, and data transformation processes. We hope you found this information to be helpful. Thanks so much for reading.

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    NFTs and Phygital Collectibles: Exploring the Future of Digital Ownership https://technonguide.com/nfts-and-phygital-collectibles-exploring-the-future-of-digital-ownership/ Sat, 22 Apr 2023 14:46:26 +0000 https://technonguide.com/?p=28148 Are you interested in knowing phygital collectibles and NFTs as well as their roles in

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    Are you interested in knowing phygital collectibles and NFTs as well as their roles in digital ownership? If yes, then look no further. Here, we’ll discuss NFTs and phygital collectibles – exactly what are they as well as how they perform for digital ownership. So, in case you are ready to know more about phygital collectibles and NFTs, let’s get started!

    What Are Phygital Collectibles?

    Even though there are some similarities between phygital collectibles and NFTs, these two are not the same thing. Phygital collectibles mainly refer to things that have both physical and digital components.

    Thus, in case purchasing an NFT means purchasing the series of codes linked with a material product, purchasing phygital collectibles means purchasing the physical product through a special digital code.

    What Are NFTs?

    Well, to know how to vend your phygital collectibles, it’s firstly necessary to know the essence of what you’re trying to market. Even though there are some similarities between phygital collectibles and NFTs – including the truth that they depend on basic blockchain infrastructures – these 2 collectibles are not the same. Here is what you should know.

    NFTs (aka Non-Fungible Tokens) are a kind of single-edition online collectible that comes with a special value. Also, NFTs may take several forms, such as digital real-estate assets, digital clothing, virtual furniture, and virtual art, as well as can be traded within consistent Metaverse spaces.

    What Are Phygital NFTs?

    Well, the concept behind this phygital NFT is to make an adventure that incorporates physical components with digital components. These tokens may represent standard physical products, like collectibles or art pieces, but there is a twist.

    The NFTs won’t only exist in the physical form but also exist on the blockchains as an unchangeable record of authenticity and ownership. It means that the collectors can possess and store the tokens both digitally and physically, relishing the advantages of both worlds at the same time.

    This new type of NFT can change how we purchase and market physical products. These are way more secure as compared to traditional ways of purchasing and selling products because no one can counterfeit or steal them because of their inflexible character on the blockchain.

    NFTs can even provide improved authentication, meaning collectors can entrust that the token they’re purchasing is legitimate.

    Besides being further secure, the phygital NFTs even deliver a better sense of connection and ownership with physical products. Collectors and holders can store the tokens both physically & digitally, which can make a unique sense of ownership.

    Types of NFTs And Phygital Collectibles

    Here are a few types of NFTs and phygital collectibles that can provide you with a greater sense of digital ownership. 

    Metaverse Fashion & Merchandise

    The Metaverse fashion & merchandise tokens are increasingly becoming a widespread sensation in the digital world. NFTs and Phygital collectibles represent material assets, like apparel and also other fashion products on the blockchain as digital tokens. They let the brands offer their products within the metaverse.

    Besides fashion, NFTs can be utilized to represent nearly any kind of physical product, including multimedia files, real estate, artwork, and even stocks. Brands like Nike have already enforced virtual sneakers as NFTs. They are even becoming widespread among individuals and gamers who wish to have the digital existence of their favorite products.

    Physical Art & Collectibles

    NFTs and Phygital collectibles can define physical art as well as other collectibles in creative ways. They present artists with new possibilities to produce as well as sell their artworks that one can experience both in physical form and online. This NFT can portray a wide variety of artworks, varying from sculptures and paintings to apparel and jewelry. 

    Luxury Products

    Phygital NFTs and phygital collectibles can even be utilized to represent luxury products. For example, TrueFacet has made digital tokens to represent various physical jewelry items. These tokens furnish proof of genuineness and help stop scams when purchasing high-end jewelry pieces.

    This lets customers have confirmation that their investment is in genuine things. They can also represent memorabilia, photographs, and also other collectibles as well as blur the fine line between the digital and physical worlds.

    Food & Beverage

    NFTs and phygital collectibles can even represent food & beverage products in the real world. For instance, Blockbar delivers NFTs with physical whisky bottles. The NFT assures that it’s an original whisky bottle and certainly not a counterfeit copy.

    As soon as collectors purchase these tokens, these collectors get a QR code that is associated with their token. It proves that the collectors own the whisky bottle as well as they can save the token for the physical counterparts.

    How Can Businesses Benefit From NFTs And Phygital Collectibles? 

    Using NFTs in phygital activations presents unique benefits to businesses over standard tokens. So, here we have listed some of the methods brands can take benefit of NFTs and phygital collectibles.

    Generate Income: 

    NFTs and phygital collectibles offer the possibility to monetize consumer engagement with one-of-a-kind, unique digital properties that have genuine worth as collectibles. Also, they can create digital goods that consumers can purchase and market in marketplaces.

    Boost Consumer Loyalty: 

    NFTs and phygital collectibles offer a chance for businesses to construct a sense of society and reward consumers for their endless loyalty. Businesses can also utilize them to offer exclusive access as well as discounts on services or physical goods.

    Increase Visibility: 

    NFTs and phygital collectibles present a special way for businesses to raise understanding of their discounts. Thus, they can produce buzz around the latest product launches as well as attract more consumers. They even offer an engaging forum on which businesses can engagingly describe their stories.

    FINAL WORDS

    Overall, NFTs and phygital collectibles offer an engaging and creative method to bring consumers closer to businesses. They can even create unforgettable experiences that promote customer loyalty as well as generate income. As technology evolves, more businesses will likely board to maximize these possibilities.

    So, while you may be searching for methods to sell your existing NFT collection, do not overlook getting started on the following project and creating better collectibles to market.

     

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    What are Fintech and Regtech in Financial Services https://technonguide.com/are-fintech-and-regtech-in-financial-services/ Thu, 08 Dec 2022 10:56:42 +0000 https://technonguide.com/?p=25263 Fintech and Regtech are evolving technologies taking the financial industry and services to new heights

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    Fintech and Regtech are evolving technologies taking the financial industry and services to new heights while challenging the traditional banking system. Though both technologies are closely related in the financial services domain, one should not confuse them as the same thing.

    Fintech is a sophisticated financial technology that small, adaptable start-up enterprises use to provide financial services to a larger spectrum of clients. While Regtech refers to the application of modern technology to fulfill regulatory compliance requirements.

    What is Fintech?

    Fintech is made of two words, “financial” and “technology,” which refer to the application of technologies (hardware & software) to financial processes and services to make them more secure, simpler, and faster (through automation).

    Fintech uses specialized software and algorithms that are employed on computers and, increasingly, smartphones to assist businesses, company owners, and individuals in better managing their financial operations and procedures.

    What is the need for Fintech?

    Fintech has increased financial inclusion by making services easier to obtain and utilize globally. It also provides more affordable alternatives to conventional banks with greater interest rates and cheaper service expenses.

    Fintech is revolutionizing technology that is rapidly changing the financial industry. With fintech, financial services and processes emphasis to a customer-focused strategy that focuses on usability, accessibility, and convenience. Due to competition, consumers can access superior banking solutions tailored to their unique requirements and financial habits.

    What is Regtech?

    Regtech is the use of technology to manage regulatory procedures within the financial sector. Regtech’s primary tasks include supervision, reporting, and compliance with regulatory requirements.

    Additionally, Regtech refers to tech companies’ cooperation that addresses the challenges in technology-led financial services or processes (Fintech) with the help of automation, ML technologies, and big data cloud-based infrastructure like PSF cloud.

    What is the need for Regtech?

    It isn’t easy to comply in the finance sector, where laws constantly change. Regtech solutions reduce the time it takes for enterprises to become completely compliant after implementing or revising a new rule. Depending on the tool, it can entail keeping them informed of applicable legislation and streamlining the technical teams’ operations so that the system can be updated to be compatible.

    By assisting businesses in managing and navigating a complex regulatory environment, these technologies enable them to avoid costly fines and penalties.

    Difference between Fintech and Regtech

    Fintech Regtech
    Also known as financial technology, it is an innovative technology that helps provide, manage, and optimize financial services. Also known as regulatory technology, it is an emerging technology that helps control compliance operations in financial firms.
    Businesses, enterprises, and consumers use it for various applications. Only enterprises or businesses use it to regulate their financial processes.

    Conclusion

    The rise of Fintech and Regtech has made it possible for the finance sector to adapt to changing market conditions and prosper in the digital era. This opens up a wide range of opportunities for new businesses and customers, but it also introduces new risks like those outlined above. For financial institutions to manage digitalization and stay up with the advancement of technology in the future, it will be essential to understand these risks and adopt the appropriate solutions to minimize them.

    https://www.ideagen.com/thought-leadership/blog/what-is-fintech-and-regtech

    https://mena.thomsonreuters.com/content/dam/openweb/documents/pdf/mena/white-paper/fintech-and-regtech-disruption-or-more-of-the-same.pdf

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    Waterfalling the Agile: 10 Reasons you should know https://technonguide.com/waterfalling-the-agile-10-reasons-you-should-know/ Thu, 08 Dec 2022 02:55:33 +0000 https://technonguide.com/?p=25255 In a world where change is the only constant, organizations are looking for ways to

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    In a world where change is the only constant, organizations are looking for ways to be more agile and responsive to customer needs. While there are many approaches to being more agile, the waterfall model is often seen as outdated.

    Waterfall is a sequential process where each step must be completed before the next one can begin. Agile is an iterative process that allows for steps to be completed in parallel. While both methods have benefits, waterfalling is often seen as outdated and inflexible, while agile is seen as efficient and adaptable.

    What is Agile?

    Agile is a business methodology that values customer satisfaction, business value, and timely delivery over following a rigid plan. Its methods are iterative, meaning they deliver small functionality regularly so that customers can provide feedback early and often.

    It helps to ensure that the final product is exactly what the customer wants and that business value is delivered as quickly as possible. Agile methods are also collaborative, involving close cooperation between business stakeholders and delivery teams.

    This ensures that everyone is on the same page and that there are no surprises when it comes time to deliver the final product. Agile is about being flexible and responsive and delivering business value as quickly and efficiently as possible.

    Agile aims to tackle priority priorities first. Keeping the to-do list short will allow for quicker progress on those little pieces of work—a determination to finish what you’re doing swiftly.

    What is Waterfall?

    One of the first methods of software development is a waterfall. The entire idea behind Waterfall is to cascade through a process until it is finished, step by step. A staged approach to construction is used for software development assembly lines. You can proceed to the next when you fully accomplish a specific phase.

    The work advances incrementally and consistently in that direction. Changes to the work or modifications to the procedure are not permitted. Waterfall travels very deliberately and systematically in a single order.

    10 Reasons you should know for moving from Waterfall to Agile

    With the best of intentions, many organizations move from waterfall to agile. To reduce time-to-market and produce high-quality apps, you might be looking to replace your typical waterfall procedures with agile, just like many other businesses.

    But becoming agile can be a difficult journey! We have compiled a few lessons and advice you to transition effectively from waterfall to agile!

    1.  Adopt an agile mindset initially

    Agile is less of a method and more of a mentality. Before teams can completely embrace agile, they must adopt the agile culture. Everyone engaged must be patient, aware of what to anticipate, and, most importantly, open to change if the effort is to be successful.

    Agile leads you to a better working style based on teamwork to give your users the most value possible. But it’s up to you to put those rules into practice. Most teams from a traditional software development approach find this component the most difficult because there are no strict guidelines to follow.

    2.  Adapt roles and responsibilities

    Within a company, roles and duties are impacted by the move to agile. Yes, agile encourages developers and testers to collaborate closely with business professionals. However, it also wants other changes. The product team, business analysts, engineering, and IT are just a few of the firm’s areas where roles, responsibilities, and working methods need to alter. Horizontal discussions should be used to replace a top-down, command-and-control culture.

    Management supports teams, encourages them to work together, and ensures that projects are aligned with corporate goals. It takes on the role of a facilitator and fosters an environment where teams can develop.

    3. Employ a team approach.

    The whole-team strategy necessitates ongoing communication. When defining requirements, project scope, and what is required to ensure the program’s quality, the team must work together from the start. Software quality is an ongoing effort that calls for dedication from all parties.

    Testers on agile teams participate in all conversations, communication, design decisions, and document sharing. They become more familiar with a feature’s complexities during its design and development. Regardless of their positions, every team member is equally accountable for the timely completion of the tasks they have committed to within an iteration.

    4.  Test frequently and early

    Many teams will claim that adopting agile is the biggest shift brought on by the testing process. Now, testing must be done continually, all the time! You must consider and include tests of some form at every step and level of the software development process. The code used to create software is continually modified. Before checking in, you must ensure that the new code complies with specifications and does not interfere with already-functioning code.

    5. Recall that agile is iterative

    Teams are accustomed to taking a sequential approach to their work in waterfall projects. The typical team workflow is requirements, design, implementation, testing, and maintenance. Everything is meticulously scheduled and planned. Agile, however, is an incremental and iterative process rather than a linear one. Agile development and delivery of software take place in manageable pieces. An application is consistently evaluated to ensure it fulfills the market’s needs.

    6.  Promote open communication

    Agile values each individual’s viewpoint and offers everyone a voice. By promoting open communication, businesses can encourage employees to share ideas and raise concerns in a safe and effective manner. It can help to build trust and improve teamwork. Agile provides training on effective communication methods and makes it easy for employees to give feedback. They are now expected to express their ideas, some team members can feel anxious! To meet the ambitious goals that the teams have set for themselves, agile teams need regular and effective communication.

    7. Test automation should be your friend.

    With test automation, agile software development will be successful. Agile projects cannot be like most waterfall projects, which may have considered test automation an extra or a luxury. Your functional tests must be run and restarted during each iteration of the agile project. Manual regression testing is labor-intensive, sluggish, uneven, and prone to mistakes.

    8. Engage in early planning and feedback

    Agile’s fundamental tenet is that failure should be swiftly followed by learning. Therefore, whatever you do in your earliest iterations will be evaluated with the end in mind. The early input from demos and evaluations improves the project’s design.

    The quality of the software being developed can also be significantly estimated by early test automation input. The more accessible and less expensive it is to resolve issues in your software, the earlier you uncover them.

    9. Participate the entire company in the agile transformation.

    People are more likely to endorse, support, and adopt a method when involved. You must apply it to the team and management to benefit from agile.

    Problems will inevitably arise if only some involved are committed and contribute effectively. For this reason, you must ensure that switching to agile is collaborative. To get the support of all interest groups and prevent conflict between how the teams function and how management operates the business, communication, effective participation from all parties, and ongoing planning are essential.

    10. Adopt instruments that promote teamwork.

    New and better technologies will require agile teams to collaborate as effectively as possible. Instead of placing additional strain on them to continuously write letters and paperwork or attend meetings to discuss changes, your goal should be to make it simpler for them to embrace new procedures. Select the finest solutions for your needs and your team to make collaboration easier. These tools can be for development, source control, knowledge sharing, documentation, code reviews, or testing.

    Waterfalling the agile

    Regarding software development, there are two major approaches: Waterfall and Agile. Both have benefits and drawbacks, and the best approach for a project depends on various factors. A waterfall is a traditional approach that involves breaking down the development process into distinct phases.

    Each phase is completed before moving on to the next. It can be beneficial in cases where requirements are well-understood upfront, and there is little need for change during the project. However, it can also lead to delays if unforeseen problems arise during development.

    Agile, on the other hand, is a more flexible approach that involves iterative cycles of growth. Multiple phases can run in parallel, allowing for faster delivery of working software. It can be beneficial in cases where business needs are likely to change during the project. This feedback enables teams to learn more quickly than almost any other method, do, profit from it, and improve even more!

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    What is IOC in share market and why does it matter? https://technonguide.com/is-ioc-in-share-market-and-why-does-it-matter/ Mon, 05 Dec 2022 12:19:23 +0000 https://technonguide.com/?p=25228 What is IOC? Immediate / Cancel order is abbreviated as IOC. It is only one of

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    What is IOC?

    Immediate / Cancel order is abbreviated as IOC. It is only one of the several kinds of orders that a trader may submit on the stock market. With IOC, the trader instructs a broker that when it is published to the market, stocks should be bought or sold right away, and if they aren’t, the order will be cancelled even without the investor’s involvement.

    The length of time the order will be present in the market is determined by the investors as it is the duration order. IOC is indeed a zero-duration order since there is virtually no delay between when the order is placed and when it is executed.

    For instance, Mr. A places a Market IOC order for 1000 stocks of XYZ Ltd. for Rs. 100 apiece. Only 200 stocks are readily available for Rs. 100/-/ throughout this scenario as when it is submitted, hence 200 shares would be purchased as well as the market IOC request for the other 800 shares would be instantly cancelled.

    Why is an IOC required?

    For the aforementioned purposes, an IOC ought to be used:

    • To make a significant purchase without affecting pricing.
    • To put a sizable purchase that could be fulfilled in many installments
    • When making several orders and unable to keep track of each deal

    Using IOC, flexibility

    The IOC orders may be made by any investor like an order book or even a limit order:

    Whenever an investor makes a stop order, they may specify a precise price during which they wish to purchase or sell certain scrip rather than having their shares sold or bought at the current market price.

    The IOC order goes into effect when.

    When you wish to make a large order but avoid influencing the markets, the IOC order works best. Long-term open orders, particularly big ones with low-output goods, may affect the price. Because of the partial completion facility as well as the short duration of the IOC order, it is a flexible choice.

    Why IOC Orders Are Beneficial to Investors

    You should be familiar with the stock market’s fundamentals to properly comprehend the IOC order. Once you’ve decided to invest in stocks, you must first create free trading. When you begin investing, however, the true adventure will begin.

    Therefore, you may place a purchase or sale order as soon as you register an online trading & Demat account. There is no assurance that your purchase will be fulfilled, however.

    There could be discrepancies in the number of people wanting to purchase or sell the stock overall. Therefore, you might wait for such an IOC order to just be fulfilled when you place a purchase order & there aren’t that many sellers available. There will be a tonne of open opportunities after this waiting period. It could be complicated and challenging for you to keep track of this. So, after placing the IOC orders, you won’t have to bother about constantly monitoring market changes.

    Conclusion

    IOC order may be quite effective if applied properly. It is not necessary to maintain track of the progress of several IOC guidelines over a long period. You may establish a Trading & Demat Account to begin trading using IOC orders. What is PE Ratio? Return on Investment Pricing or Ratio to Earnings, The multiple is the relationship between a stock’s stock price and its profits per share (EPS). Among the most used methods for valuing companies is the PE ratio. It shows if a stock is costly or affordable at the present market price.

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    If You Can’t Beat ‘Em: The Invisible Data Tussle Engulfing Your Networks https://technonguide.com/the-invisible-data-tussle-engulfing-your-networks/ Wed, 02 Nov 2022 01:38:50 +0000 https://technonguide.com/?p=24838 The Internet revolutionized the way in which we approach information. Data surrounding your organization, its

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    The Internet revolutionized the way in which we approach information. Data surrounding your organization, its structure, history, and the personal lives of every single employee and customer is all swelling around on various social media networks. The rapidly-changing nature of online spaces leads many users into a false sense of security. After all, when was the last time you spared a thought for what you posted 6 months ago?

    It’s within this environment that attackers and security teams are actively gathering open source intelligence (OSINT). Everything that’s ever been posted can be found, read, and fed into a larger image of a person, organization, or governmental figure.

    What is Open Source Intelligence?

    Public information leaks from every facet of daily life. The first wave of OSINT attempts originated from military and intelligence operations throughout the 70s and 80s. The focus was placed upon gathering strategically important information, pertinent to national security. Human sources (HUMINT) were of primary importance, while the second source of digitally-gained information (DIGINT) rose in popularity following the widespread adoption of the internet.

    Though still a vital part of military intelligence, OSINT has spread out from its initial military aims. In fact, some of the first to realize its importance outside of combat zones were individuals wanting to extort companies. With the introduction of the internet to modern households from the 90s and onward, OSINT suddenly granted access to far more than military intelligence. Almost every aspect of an organization’s employees and IT infrastructure is visible through your online presence, and social media. Recognizing the danger that this poses, CISO teams have begun employing the same tactics back at potential attackers.

    The Silent OSINT Battle

    The OSINT process starts small; it may only begin with the name of a target organization. From there, a rapid Google search allows the search engine to return every relevant piece of information, in uber-digestible format. After a few hours spent perusing LinkedIn pages, site domains, and company-hosted data, an attacker will have a fairly accurate image of your organization. The specific data they’re after depends highly on the upcoming attack campaign they’re working on: if the goal is to steal user credentials, then they may be looking to conduct a successful spear phishing attack. For this, they’re likely hoping to produce in-depth profiles on a handful of high-level executives.

    Though LinkedIn offers a wealth of information regarding an organization’s structure and hierarchy, other social networks offer even further – highly valuable – information. These disclose information that can include dates of birth; names of pets; and family members. All of this info allows a dedicated attacker to guess passwords, alongside strengthening phishing attack methods. Even completely innocuous information can be warped by OSINT-gatherers looking to cause serious damage. An employee that’s really into surfing will probably express their love for the sport on their private social media accounts. An attacker can abuse this by finding an email address of theirs, then emailing a discount URL for a supposedly new wetsuit store. This may look like a harmless marketing email, but could direct the target’s device to load malware from an attacker-controlled server. When clicked, the consequences for the person – and their devices – can be critical

    While attackers desperately skim through mountains of online content to form profiles of their victims, the saving grace is that open source intelligence is publicly available. This means that CISOs are able to use similar methods to assess – and repair – an organization’s attack surface. A people-first focus allows for education on the risks of sharing personal information, while regular assessments of site error codes and server-hosted data can help maintain a hygienic online profile. Furthermore, defensive OSINT allows for security teams to actively monitor an evolving attack field, with tools that scan and report on dark web marketplaces and forums. This can give an idea of the most successful recent breaches, and lends further insight into the attack patterns currently rippling across your industry.

    How Much Data Are You Spilling?

    The first step to reducing an attack surface is by capturing a clear image of the situation. Thankfully, there are a number of publicly available tools that streamline the data collection process. The ways in which these collate data can be split into two main groups. Passive is by far the most common form of collection; this involves scraping and collating data from various publicly accessible sites, such as the Twitter API. One tool that shows immense promise for researchers is Intelligence X. This archival platform preserves internet pages, in their original state. This preserves any form of online content, regardless of legality or ethicacy. This includes not only data that’s been censored from the wider, public internet, but also pages from WikiLeaks and high-censorship government sites.

    More active OSINT tools gain data by interacting directly with networks. In acts increasingly leaning toward penetration testing, tools such as Shodan offer monitoring capabilities across networks. By searching deep web and IoT networks, it’s possible to see any type of device connected to a network. This includes anything from servers, smart devices, and webcams; to traffic lights and water control systems. Finally, the most active forms of OSINT are tools such as Maltego. This open-source platform allows for users to run a scripting mechanism that collates data from multiple sources at once, in order to analyze the real-world relationship between servers, organizations, and individuals. These relevant pieces of the puzzle are then visualized via a thorough network chart, handing an accessible roadmap to any would-be attacker.

    By utilizing similar methods as your potential attackers, OSINT provides critical tools through which to protect your colleagues and networks alike. Furthermore, social media has a way of picking up on crisis news hours before mainstream news sources do. With a suite of proactive OSINT methods in place, your organization can keep one step ahead of threats both within and external to your critical networks.

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