UPI vs Digital Wallet: What’s the Difference?

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In today's digital age, people don't like to carry cash. Now everything has become online - whether it is shopping, paying bills or transferring money. The two most popular digital payment options in India are UPI (Unified Payments Interface) and Digital Wallet. Many people consider these two to be the same, but in reality their working method, features and benefits are different. In this blog, we will learn in detail what UPI and digital wallet are, how they work, and what are the main differences between them. What is UPI? The full form of UPI is Unified Payments Interface. It was launched by NPCI (National Payments Corporation of India) in 2016. UPI is a system through which you can transfer money directly from your bank account to another person's bank account - that too without entering IFSC code, account number, just by mobile number or UPI ID. Main advantages of UPI: Send or receive money directly from your bank Real-time transactions Available 24x7 ...
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How to Build a Scalable Data Architecture?

 

Creating an Adaptable Data Architecture: A Manual

Businesses that need to manage massive quantities of data and support growth must have a scalable data infrastructure. Here's a how-to to get you started:

1. Establish Your Needs for Data

  • Decide Which Data Types to Store: Choose from semi-structured, unstructured, and structured data.
  • Analyze Volume: Calculate how much data you'll produce and how rapidly it will expand.
  • Know Use Cases: Specify the purposes for which the data will be utilized (such as reporting, analytics, machine learn


2. Select the Appropriate Data Model

  • Think about the trade-offs between NoSQL and relational databases (SQL and RDBs).
  • Hybrid Approaches: In complicated use cases, a hybrid strategy that incorporates both may be required.

3. Opt for the Right Technologies

  • Data Storage: Select cloud storage, data lakes, data warehouses, and other storage options that can accommodate the amount and expansion of your data.
  • Data processing: Choose technologies (such as Hadoop, Spark, and Flink) for data processing, transformation, and analysis.
  • Data Integration: Use technologies (such as ETL and ELT) to integrate data from different sources.


4. Scalability in Design

  • To meet an increase in traffic, a distributed system may be horizontally scaled by adding extra nodes.
  • Vertical scaling: Add more potent hardware to the current nodes.
  • Partition data over several databases using sharding to increase scalability and speed.
  • Replication: For redundancy and disaster recovery, make copies of your data at several different places.

5. Examine Cloud-Based Options

  • Leverage Cloud Services: For scalable infrastructure and data management, make use of cloud platforms like as AWS, Azure, or GCP.
  • Serverless Computing: For event-driven processing, look at serverless solutions like AWS Lambda or Azure Functions.

6. Put Data Governance in Place

  • Data Quality: Guarantee the completeness, correctness, and consistency of the data.
  • Data security: Guard private information from breaches and illegal access.
  • Data Compliance: Comply with all applicable laws, rules, and guidelines (e.g., GDPR, HIPAA).

7. Keep an eye on and improve

  • Performance Metrics: Monitor key performance indicators (KPIs) to pinpoint areas in need of improvement and bottlenecks.
  • Capacity planning: involves projecting future data expansion and making necessary infrastructure adjustments.
  • Continuous Optimization: To preserve performance and scalability, evaluate and improve your data architecture on a regular basis.


You may create a scalable data architecture that meets your business requirements and lets you get insightful information from your data by adhering to these principles.    

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