000-M90 Related Links

000-M90 Dropmark  |   000-M90 Wordpress  |   000-M90 Issu  |   000-M90 Dropmark-Text  |   000-M90 Blogspot  |   000-M90 RSS Feed  |   000-M90 Box.net  |   000-M90 publitas.com  |   000-M90 zoho.com  |  
Ask Killexams Experts about 000-M90 test prep. - Killexams

Complete reference and brain dump information about IBM 000-M90 exam


Killexams Updated 000-M90 IBM Content Analytics Theory Technical Mastery Test v1

000-M90 free practice tests | 000-M90 exam preparation | 000-M90 exam tips | 000-M90 cheat sheet pdf | 000-M90 questions and answers - Killexams.com



000-M90 - IBM Content Analytics Theory Technical Mastery Test v1 - Dump Information

Vendor Name : IBM
Exam Code : 000-M90
Exam Name : IBM Content Analytics Theory Technical Mastery Test v1
Questions and Answers : 49 Q & A
Updated On : December 13, 2018
PDF Download Mirror : 000-M90 Brain Dump
Get Full Version : Killexams 000-M90 Full Version


No hassle! 24 hrs practise of 000-M90 exam is required.

As a assured authority, I knew I need to take help from Dumps at the off hazard that I want to clear the extremeexam like 000-M90. Moreover i used to be correct. The Killexams Dumps have an interesting technique to make the difficultsubjects easy. They manage them in quick, clean and particular way. Straight forward and recollect them. I did so and could answer all of the questions in half of time. Incredible, Killexams dumpss a proper companion in need.

Study experts question bank and dumps to have great success.

I knew that I had to cleared my 000-M90 exam to keep my activity in current agency and it changed into no longer smoothactivity without some assist. It became just amazing for me to research a lot from Killexams preparation % in form of 000-M90 questions answers and examination simulator. Now I proud to announce that i am 000-M90 certified. exceptional workKillexams.

i discovered a first rate source for 000-M90 dumps

As a guaranteed authority, I knew I want to take assistance from Dumps on the off hazard that I want to clear the acute exam like 000-M90. Furthermore I was accurate. The Killexams Dumps have an thrilling method to make the difficult topics simple. They manage them in quick, easy and genuine way. Straight forward and take into account them. I did so and could answer all of the questions in 1/2 time. Incredible, Killexams dumpss a true partner in want.

So smooth training of 000-M90 exam with this question bank.

The Killexams dumps provide the study cloth with the proper abilties. Their Dumps are making learning smooth and brief to prepare. The furnished cloth is particularly custom designed with out turning intooverwhelming or burdensome. The ILT ebook is used in conjunction with their material and discovered its effectiveness. I recommendthis to my pals on the place of work and to all of us looking for the high-quality answer for the 000-M90 examination. Thank you.

Did you tried this great source of 000-M90 latest dumps.

I passed this exam 000-M90 today with a 92% score. Killexams was my main preparation resource, so if you plan to take this exam, you can totally count on this 000-M90 questions source. All information is relevant, the 000-M90 questions are correct. I am very happy with Killexams. This is the first time I used it, but now Im confident Ill come back to this website for all my 000-M90 certification exams

Nice to hear that actual test questions of 000-M90 exam are available.

I additionally had an excellent revel in with this coaching set, which led me to passing the 000-M90 examination with over ninety eight%. The questions are real and valid, and the trying out engine is a super/education tool, even if youre no longer making plans on taking the examination and simply want to increase your horizons and enlarge your know-how. Ive given mine to a friend, who additionally works in this place however just obtained her CCNA. What I imply is its a notable mastering tool for every person. And in case you plan to take the 000-M90 exam, this is a stairway to fulfillment :)

blessings of 000-M90 certification.

word of mouth is a totally robust way of advertising for a product. I say, whilst something is so desirable, why no longerdo some high quality publicity for it I would really like to unfold the phrase about this one of a type and truly high-quality Killexams which helped me in acting outstandingly properly in my 000-M90 examination and exceeding all expectancies. i would say that this Killexams is one of the maximum admirable on line coaching ventures ive ever stumble upon and it merits quite a few recognition.

Believe it or not, Just try once!

It was the time whilst i used to be scanning for the net exam simulator, to take my 000-M90 exam. I solved all questions in only 90 minutes. It was terrific to recognise that Killexams Questions & solutions had all vital fabric that become wished for the exam. The material of Killexams changed into powerful to the point that I passed my examination. while i used to be told about Killexams Questions & answers via one in all my partners, i was hesitant to utilize it so I chose to down load the demos first of all, and check whether or not i can get right help for the 000-M90 examination.

Found an accurate source for real 000-M90 actual test questions.

It ended up being a frail department of information to devise. I required a e-book that can state question and answer and I honestly allude it. Killexams Questions & Answers are singularly in charge of each closing considered one of credit. Much obliged Killexams for giving tremendous conclusion. I had endeavored the exam 000-M90 examination for 3 years continuously however couldnt make it to passing rating. I understood my hole in know-how the subject of making a consultation room.

what is easiest manner to bypass 000-M90 examination?

It emerge as a completely quick selection to have Killexams QA as my have a look at accomplice for 000-M90. I couldnt manage my happiness as I began out seeing the questions about display display; they had been like copied questions from Killexams dumps, so correct. This helped me to bypass with ninety seven% inside 65 mins into the exam.

Latest Exams added on Killexams

1Z0-628 | 1Z0-934 | 1Z0-974 | 1Z0-986 | 202-450 | 500-325 | 70-537 | 70-703 | 98-383 | 9A0-411 | AZ-100 | C2010-530 | C2210-422 | C5050-380 | C9550-413 | C9560-517 | CV0-002 | DES-1721 | MB2-719 | PT0-001 | CPA-REG | CPA-AUD | AACN-CMC | AAMA-CMA | ABEM-EMC | ACF-CCP | ACNP | ACSM-GEI | AEMT | AHIMA-CCS | ANCC-CVNC | ANCC-MSN | ANP-BC | APMLE | AXELOS-MSP | BCNS-CNS | BMAT | CCI | CCN | CCP | CDCA-ADEX | CDM | CFSW | CGRN | CNSC | COMLEX-USA | CPCE | CPM | CRNE | CVPM | DAT | DHORT | CBCP | DSST-HRM | DTR | ESPA-EST | FNS | FSMC | GPTS | IBCLC | IFSEA-CFM | LCAC | LCDC | MHAP | MSNCB | NAPLEX | NBCC-NCC | NBDE-I | NBDE-II | NCCT-ICS | NCCT-TSC | NCEES-FE | NCEES-PE | NCIDQ-CID | NCMA-CMA | NCPT | NE-BC | NNAAP-NA | NRA-FPM | NREMT-NRP | NREMT-PTE | NSCA-CPT | OCS | PACE | PANRE | PCCE | PCCN | PET | RDN | TEAS-N | VACC | WHNP | WPT-R | 156-215-80 | 1D0-621 | 1Y0-402 | 1Z0-545 | 1Z0-581 | 1Z0-853 | 250-430 | 2V0-761 | 700-551 | 700-901 | 7765X | A2040-910 | A2040-921 | C2010-825 | C2070-582 | C5050-384 | CDCS-001 | CFR-210 | NBSTSA-CST | E20-575 | HCE-5420 | HP2-H62 | HPE6-A42 | HQT-4210 | IAHCSMM-CRCST | LEED-GA | MB2-877 | MBLEX | NCIDQ | VCS-316 | 156-915-80 | 1Z0-414 | 1Z0-439 | 1Z0-447 | 1Z0-968 | 300-100 | 3V0-624 | 500-301 | 500-551 | 70-745 | 70-779 | 700-020 | 700-265 | 810-440 | 98-381 | 98-382 | 9A0-410 | CAS-003 | E20-585 | HCE-5710 | HPE2-K42 | HPE2-K43 | HPE2-K44 | HPE2-T34 | MB6-896 | VCS-256 | 1V0-701 | 1Z0-932 | 201-450 | 2VB-602 | 500-651 | 500-701 | 70-705 | 7391X | 7491X | BCB-Analyst | C2090-320 | C2150-609 | IIAP-CAP | CAT-340 | CCC | CPAT | CPFA | APA-CPP | CPT | CSWIP | Firefighter | FTCE | HPE0-J78 | HPE0-S52 | HPE2-E55 | HPE2-E69 | ITEC-Massage | JN0-210 | MB6-897 | N10-007 | PCNSE | VCS-274 | VCS-275 | VCS-413 |

See more dumps on Killexams

HP2-H26 | 2B0-015 | 640-878 | 1Y0-A01 | C2020-701 | 920-262 | 000-N33 | CNA | LX0-103 | 70-466 | C2150-620 | COG-605 | HAT-680 | HP2-E63 | 70-551-CSharp | 156-315-75 | 000-N03 | IFSEA-CFM | 000-382 | HP2-N28 | 132-S-800-1 | 920-431 | A2010-023 | WHNP | HP2-E44 | E20-891 | 000-139 | 1Z0-580 | HP3-X02 | 090-160 | 1T6-521 | 700-501 | 132-S-911 | C2170-008 | 000-744 | HP0-J44 | 1Z0-478 | VCS-274 | HP2-B113 | CLEP | HPE2-K43 | HP0-P15 | HP0-698 | 70-504-CSharp | 117-303 | 250-722 | OG0-093 | MB2-710 | L50-503 | C2140-130 |

Top of the list Certification Vendors on Killexams

Killexams PMI | Killexams Avaya | Killexams LPI | Killexams Esri | Killexams Military | Killexams ADOBE | Killexams HP | Killexams Microsoft | Killexams CIPS | Killexams Certiport | Killexams IFPUG | Killexams Zend | Killexams Real Estate | Killexams Isilon | Killexams APICS | Killexams IBM | Killexams Lotus | Killexams McData | Killexams CPP-Institute | Killexams GIAC |


IBM 000-M90 Exam (IBM Content Analytics Theory Technical Mastery Test v1) Detailed Information

IBM Professional Certification Program
How can we help you
The IBM Certification Program will assist in laying the groundwork for your personal journey to become a world-class resource to your customers, colleagues, and company, by providing you with the appropriate skills and accreditation needed to succeed.
Spotlight
Getting Started
Explore all available IBM Professional Certifications and their added value today.
Member Site
Access your certification history, request certificates, and more Sign In Now
Test Registration
Register for an IBM Certification test at Pearson VUE and take a step into your future.
Transcripts
Share your IBM Certification Transcripts with others.
Sign Up Today
IBM Badges
A new way showcase your accomplishments. Learn about the IBM Open Badge Program
Latest News
premium cert
Get Your Premium Certificate, Now! Impress your Clients and Colleagues!
IBM Professional Certification is pleased to announce our Premium Certificates are available, once again. These prestigious certificates have always been a popular item with IBM Certified Professionals. And now, the Premium Certificates are available exclusively from the IBM Professional Certification Marketplace.
Each Premium Certificate is printed on an ultra-fine parchment paper and officially embossed with the platinum seal of the Professional Certification Program from IBM.
Also included, is the attractive Premium Wallet Card. The wallet card is personalized with the name of the IBM certified professional and the certification title earned. The card design has a sleek & stylish look that can be proudly presented to clients and peers to authenticate the certification achievement.
Visit the IBM Certification Marketplace to purchase the Premium Certificate, as well as test vouchers discount offerings, and other items of interest.
IBM Certification Programs
IBM Business Analytics Certification provides an industry standard benchmark for technical competence, and offers validation for professionals who work with IBM Business Analytics technologies.
Our Value
We provide a way for professionals to demonstrate their competence in a competitive marketplace.
We offer you a range of certifications across BA products.
IBM Certification is highly recognized in the industry.
Your Benefits
Demonstrated professional credibility as a certified IBM Business Analytics practitioner
Professional advantage derived from validation
Enhanced career advancement and opportunities
Increased self-sufficiency with IBM Business Analytics technologies
What We Offer
IBM Business Analytics Certification offers the only authorized accreditation in the industry for benchmarking and validating your expertise with Cognos or SPSS products.
Certification by product area, developed in alignment with prescriptive IBM BA training paths.
Proctored and non-proctored tests and examinations administered by Pearson VUE.

000-M90 Questions and Answers

Pass4sure 000-M90 dumps | Killexams.com 000-M90 real questions | [HOSTED-SITE]

000-M90 IBM Content Analytics Theory Technical Mastery Test v1

Study Guide Prepared by Killexams.com IBM Dumps Experts


Killexams.com 000-M90 Dumps and Real Questions

100% Real Questions - Exam Pass Guarantee with High Marks - Just Memorize the Answers



000-M90 exam Dumps Source : IBM Content Analytics Theory Technical Mastery Test v1

Test Code : 000-M90
Test Name : IBM Content Analytics Theory Technical Mastery Test v1
Vendor Name : IBM
Q&A : 49 Real Questions

Do now not spend big amount on 000-M90 courses, get this query financial institution.
My brother saden me telling me that I wasnt going to undergo the 000-M90 exam. I word once I look outside the window, such a lot of special human beings need to be seen and heard from and they simply need the attention folks however i can tell you that we students can get this interest whilst we skip our 000-M90 test and i will let you know how I cleared my 000-M90 checkit turned into best when I were given my observe questions from killexams.com which gave me the wish in my eyes collectively all the time.


Take these 000-M90 questions and answers before you go to vacations for test prep.
i have never used one of these first-rate Dumps for my mastering. It assisted properly for the 000-M90 exam. I already used the killexams.com killexams.com and passed my 000-M90 exam. its miles the flexible material to use. however, i used to be a under common candidate, it made me pass within the examination too. I used most effective killexams.com for the getting to know and by no means used any other fabric. i can hold on using your product for my future exams too. got 98%.


it's far unbelieveable, however 000-M90 real take a look at questions are availabe here.
Thumb up for the 000-M90 contents and engine. Certainly worth looking for. No doubt, refering to my friends


Great idea to prepare 000-M90 actual test questions.
I was very disappointed when I failed my 000-M90 exam. Searching the internet told me that there is a website killexams.com which is the resources that I need to pass the 000-M90 exam within no time. I buy the 000-M90 preparation pack containing questions answers and exam simulator, prepared and sit in the exam and got 98% marks. Thanks to the killexams.com team.


Found an accurate source for real 000-M90 dumps.
I surpassed the 000-M90 certification these days with the assist of your furnished Questions solutions. This combined with the path that you need to take a good way to become a certified is the manner to move. In case you do but suppose that actually remembering the questions and answers is all you need to pass properly youre wrong. There had been pretty a few questions about the exam that are not inside the provided QA but in case you prepare these forms of Questions solutions; you may strive those very with out problem. Jack from England


amazing concept to put together 000-M90 real exam questions.
Killexams.Com Dumps web page helped me get get right of entry to to diverse examination schooling fabric for 000-M90 exam. I was careworn that which one I want to select out, but your specimens helped me choose the super one. I purchased killexams.Com Dumps direction, which notably helped me see all of the crucial ideas. I solved all questions in due time. I am absolutely happy to have killexams.Com as my tutor. An awful lot desired


right Place to discover 000-M90 brand new dumps paper.
I am running into an IT company and therefore I hardly ever find any time to put together for 000-M90 Exam. Therefore, I arise to an clean end of killexams.Com Q&A dumps. To my surprise it labored like wonders for me. I should resolve all of the questions in least viable time than supplied. The questions appear to be pretty clean with excellent reference manual. I secured 939 marks which became without a doubt a high-quality surprise for me. Great thanks to killexams!


these 000-M90 actual test questions works within the actual take a look at.
i have cleared the 000-M90 exam inside the first attempt. I ought to acquire this achievement due to killexams.Com query economic organization. It helped me to apply my paintings ebook knowledge in the question & solution layout. I solved these query papers with examination simulator and were given complete idea of the examination paper. So I would like to thank killexams.


first rate possibility to get certified 000-M90 examination.
This coaching kit has helped me bypass the examination and emerge as 000-M90 certified. I could not be greater excited and grateful to killexams.com for such an clean and dependable preparation device. I can confirm that the questions within the package are actual, this is not a faux. I selected it for being a dependable (advocated by using a pal) manner to streamline the exam training. Like many others, I could not afford reading full time for weeks or even months, and killexams.com has allowed me to squeeze down my education time and still get a terrific result. Great solution for busy IT experts.


Shortest questions that works in real test environment.
I effectively comprehended the troublesome subject matters like Delivery Competence and Content Expertise effects from killexams. I successfully rating 90% marks. All credit to killexams.Com. I became looking for a reference guide which helped me in making plans for the 000-M90 exam. My occupied calendar just approved me to more time of hours with the aid of one manner or any other. By booking and procuring the killexams.Com Questions/Answers and exam simulaotr, I were given it at my entryway project interior one week and started planning.


IBM IBM Content Analytics Theory

overlook IBM, Enbridge - a quick growing, 6.5% Yielding Blue Chip - Is a much sophisticated investment | killexams.com Real Questions and Pass4sure dumps

(source: imgflip)

long-time readers know that i am an incredible fan of purchasing deeply undervalued excessive-yield blue-chip dividend increase stocks. that is for 2 explanations. First, background has proven that dividend growth shares, besides generating incessantly rising profits, are likely to greatly outperform the market over time and with less volatility besides.

actually, considering the fact that 1972, dividend increase shares have outperformed the S&P 500 through 31% yearly and 36% on a risk-adjusted (total return/volatility) basis.

in the meantime, a analyze from Yale found that between 1881 and 2016, one of the most greatest elements in complete returns changed into the valuation at which you purchased a company. Valuation had an impressive impact not just on the short-term returns, but out to 30 years.

by way of combining the vigor of safe, high-yield dividend growth shares, purchased when the market hates them most, many revenue investors hope to enjoy now not simply beneficiant and regularly rising salary, however market-beating returns as well.

these days, IBM (IBM) and Enbridge (ENB) are among the many most hated, and thus undervalued high-yield blue-chips you could find. it really is thanks to each businesses struggling multi-12 months undergo markets which have left investors with total returns of about -29%, even after accounting for his or her mouth-watering dividends.

Chart IBM facts by way of YCharts

but there's a further important thought long-time period salary increase traders need to consider. this is that investing is never carried out in a vacuum. until you might be Warren Buffett, you've got restricted capital to place to work in undervalued, high-yield stocks. for that reason it's critical to no longer simply purchase any undervalued blue-chips but these with potent fundamentals including:

  • robust business fashions (transforming into money circulate)
  • incredible lengthy-term boom runways
  • fine management (with proven capital allocation expertise and a tune checklist of consistent dividend growth and good complete returns)
  • a strong stability sheet (preferably one it's stable or getting greater over time)
  • I've spent the ultimate few years observing IBM's turnaround strategy and sometimes been tempted to purchase the shares, basically due to its high-yield and mouthwateringly low valuation. however I've turn into more and more skeptical that present administration should be in a position to bring on its guarantees, which is why, for my excessive-yield income boom retirement portfolio, I chose to trust my hard earned funds to Enbridge (soon to be my third greatest keeping).

    Let's take a look at the the reason why Enbridge is a much sophisticated excessive-yield dividend growth blue chip. one that occurs to be:

  • greater-yielding
  • greater run
  • sooner growing to be
  • greater undervalued
  • more likely to convey advanced long-time period complete returns
  • IBM's eternal Turnaround Fizzles Yet again...

    IBM is one among oldest tech agencies on the earth, being established in 1911. it's undergone a lot of structural turnarounds over the past 107 years, and these days is the realm's largest IT provider issuer, serving corporate consumers in over a hundred and seventy countries all over. That includes 95% of the Fortune 500.

    (source: easily safe Dividends)

    youngsters, as that you may see, IBM has been struggling to increase its earnings and adjusted EPS over time. definitely, revenue fell for 22 consecutive quarters, just recently producing three-quarters of modest nice growth. That became as a result of management, led through Virginia Rometty (a 37 yr IBM veteran and CEO considering 2012), turnaround plan. That plan called for a gradual shift faraway from legacy hardware (together with massive asset revenue) and towards "strategic imperatives" or SI. here's cloud-based mostly future expertise, including IBM's tons-hyped Watson artificial intelligence platform.

    IBM's basic plan turned into to use its decades-long relationships with gigantic and conservative company IT departments to transition shoppers to its cloud and records analysis routine subscription earnings corporations.

    (source: IBM investor presentation)

    Then superior economies of scale, together with ongoing cost-cutting, would support enhance working margins (which have been regularly declining considering the fact that 2014), and effect in low single-digit revenue growth, that translates into mid-single digit EPS and free cash movement or FCF/share growth. here is what earnings investors have been counting on stem the tide of frequently slowing dividend boom.

    (supply: comfortably protected Dividends)

  • 2018 dividend hike: 4.7%
  • 2017 dividend hike: 7.1%
  • 2016 dividend hike: 7.7%
  • however now looks as if IBM's an awful lot-vaunted turnaround may also were a false morning time. income boom has yet again grew to become bad.

    (source: quite simply secure Dividends)Now to be reasonable to management, that -2% revenue increase became as a result of negative foreign money results from a much better dollar. In consistent forex, the company's earnings had been flat YOY in Q3. despite the fact, IBM's large guess on SI is starting to exhibit stressful cracks, which is why shares plummetted after income (sending the yield to a 24 yr high). (supply: IBM income presentation)

    In Cognitive options, home of Watson, revenue have been down 5%, and even SI based enterprise contraptions said bad boom. meanwhile, all the organizations SI organizations, including facts analytics and cybersecurity, pronounced consequences that appear, firstly, to be pretty respectable. as an example, complete trailing 12 month SI revenue, in constant currency, rose 11% YOY, whereas cloud computing profits changed into up 24%. however the purpose Wall street nonetheless punished the stock is because the SI growth fee is slowing.

  • Q3 SI income boom: 7% (and down eight% from Q2 2018)
  • Q3 Cloud salary boom: 10% (Q2 boom turned into 20%)
  • take into account that cloud computing as an entire, in line with analyst company Synergy research neighborhood, is starting to be 45% per yr. as a result IBM's decelerating SI and cloud revenue increase is a troubling sign that management's guess that its loyal clients would choose it over main opponents like Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOG), looks to no longer be paying off.

    This caused administration to reiterate its outdated information of "at the least $13.eighty" in adjusted EPS for 2018, and $12 billion in free money flow or FCF. If management hits those figures it is going to represent flat adjusted EPS increase over 2017, and an eight% decline in FCF (what will pay the dividend) from last 12 months's level.

    So with SI in normal, and Watson in selected, in drawback, IBM decided to do what many struggling mega enterprises do, make a splashy, expensive, and debt-fueled acquisition.

    ...Triggering A vastly Overpriced, Debt Funded Acquisition

    In late October IBM announced it was paying $34 billion (including debt assumption) to buy Linux primarily based cloud computing company pink Hat (RHT). IBM management is hailing this mega-deal (the greatest application acquisition in US background) as a tremendous coup for the company. in line with Virginia Rometty:

    “The acquisition of red Hat is a game-changer. It adjustments every thing concerning the cloud market...IBM will develop into the area’s #1 hybrid cloud provider... Most companies nowadays are best 20 % alongside their cloud experience, renting compute energy to cut prices...The subsequent 80 percent is ready unlocking true business cost and riding increase. here's the next chapter of the cloud. It requires shifting enterprise functions to hybrid cloud, extracting extra information and optimizing every a part of the business. ” - Virginia Rometty (emphasis introduced)

    Now, even if or no longer you believe Mrs. Rometty's hype about how hybrid cloud is the way forward for the trade, or not it's definitely genuine that IBM vital a "video game-changing" flow.

    it really is as a result of, in keeping with Gartner, when it comes to infrastructure as a carrier or IAAS, IBM's market share was abysmal, simply 2% on the conclusion of 2017. And 2018 hasn't been any more advantageous, with IBM dropping market share whereas its 4 greatest competitors have all been gaining it. buying purple Hat is considered by way of most analysts as a necessary strategic stream a good way to make stronger IBM's place in the cloud computing market. (source: IBM crimson Hat Acquisition presentation)this is because crimson Hat, like IBM, has deep connections with most Fortune 500 corporations. pink Hat has been in operation for over 25 years. Its Linux based mostly application solutions permit companies to manipulate their applications across their in-condo facts facilities and with cloud providers, including most of IBM's opponents (who're crushing it in cloud). In effect IBM hopes that hybrid cloud will enable it to accelerate SI boom because it may be working with, now not competing in opposition t groups it be proven it can not beat. purple Hat also growing its revenues at a fast tempo (17% commonplace over the last 5 years and 19% TTM). The company is additionally particularly ecocnomic and generating close to $1 billion in FCF per yr. as a way to no longer simply raise IBM's FCF via 8.three% (deal expected to shut within the second half of 2019). Analysts expect red Hat's EPS and FCF to grow about 15% yearly over the next decade. as a result in buying purple Hat, at the very least IBM is purchasing a high margin and quick becoming revenue and cash stream flow. (supply: IBM pink Hat Acquisition presentation)here is why administration expects this deal to boost its precise-line growth via at least 2% in the first full yr, and through the conclusion of year two develop into accretive to both operating EPS as well as free money move per share.

    however as the Yale valuation look at indicates, even a great asset could make a bad funding if you overpay for it. IBM is paying a sixty three% premium for pink Hat's shares in an all-cash deal that values RHT at $a hundred ninety per share. IBM is paying greater than 10 times trailing revenue and 30 times free cash circulation for red Hat, which is are some prosperous multiples.

    IBM has $14.5 billion in money at this time and says the deal will be funded with a mix of money and debt. Assuming that management wants to expend half its money place for the deal that means IBM will need to borrow about $26 billion to fund this deal.

    agencyPro-Forma Debt/EBITDA pro-Forma pastime coverage Ratio S&P credit rating

    commonplace activity can charge

    IBM 4.3 9.0 A 1.5% trade standard 1.three 138 NA NA

    (Sources: Morningstar, speedy Graphs, Gurufocus)

    it really is going so as to add to the company's $47 billion in total debt and result in its leverage ratio (Debt/EBITDA) hovering to four.three. The good information is that IBM nevertheless has sufficient working money circulation to provider the larger interest cost IF it may well proceed to entry super low priced mounted-expense distant places bond markets (why or not it's common interest charge is so low). besides the fact that children, it's no longer possible given our current rising pastime cost environment and the indisputable fact that the enterprise is potentially facing now not just one, however two credit score downgrades over this acquisition.

    Moody's has put IBM's credit rating on watch for a downgrade citing:

    "a considerable boost in leverage... and a departure from IBM's old acquisition philosophy of making small, tuck-in acquisitions that limit integration possibility." - Moody's (emphasis brought)

    S&P has already cut IBM's credit standing from A+ to A, additionally citing the giant volume of debt the company should be taking on. This probably means that IBM's interest costs on the pink Hat bonds will be much higher.

    Chart Moody's professional Baa corporate Bond Yield facts via YCharts Chart Moody's pro Aaa company Bond Yield records by YCharts

    How plenty better? well, right now company bond yields for AAA equal bonds are at four.2%, while BBB+ bonds change at 5.2%. Assuming that IBM's red Hat bonds sell for an A ranking equivalent that doubtless capacity it should be paying 4.7% activity on the bonds. That possible capability IBM's hobby expenses will rise through $1.2 billion and lower its interest insurance ratio to about 9.0. it really is nevertheless a safe degree (eight.0 or above is safe), nevertheless it would reduce this essential credit metric in half. management has pointed out that deleveraging submit-acquisition will be a excellent priority, which is why it plans to droop dividend buybacks in 2020 and 2021. via the conclusion of that point administration says it should be lower back to a traditional leverage ratio, which for IBM has traditionally been about 1.7 times Debt/EBITDA.

    but whereas crimson Hat's buy is never more likely to threaten the company's dividend, there's one more reason for buyers to be skeptical of this "online game-altering" deal. that might be as a result of current administration has a extremely poor song record of overpromising and underdelivering. as an example, here's what IBM claimed about Watson in its most contemporary tremendous Bowl business:

    "(Watson)is without doubt one of the strongest equipment our species has created. It helps medical doctors combat disease. it will possibly predict international climate patterns. It improves education for infants everywhere." - IBM Watson commercial

    Watson, in line with Rometty, turned into presupposed to now be "touching a thousand million people... and be able to handle, diagnose, and deal with eighty percent of cancer in the world." What's worse, Watson became supposed to be IBM's trump card in information analytics and cloud applications and assist the business obtain $20 per share in adjusted EPS in 2015. in reality, IBM delivered simply $14.90 in adjusted EPS that year, lacking its assistance by way of 26.5%.

    really, beneath Rometty IBM's capital allocation selections (together with tens of billions on buybacks) have confirmed to be disastrous. For typical organisations, a key proxy for best administration is the return on invested capital or ROIC.

    (supply: comfortably secure Dividends)

    neatly led companies have strong or rising ROIC. IBM's has been fallen via fifty six% under Rometty's watch, due to taking over loads of debt and making bolt-on acquisitions that it overpaid for and that has yet to generate wonderful right or final analysis growth.

    ultimately, I believe IBM a poorly managed business, with nothing but potential growth it is all the time a couple of years in the future. What about if IBM gets new administration because the board of director ultimately fires Rometty? neatly, that would not necessarily bode smartly for dividend traders either. this is because the ultimate time IBM had an incredible management shakeup (1993) new management restructured the enterprise and reduce the dividend...twice, over a 9 month length (seventy nine% in complete). So while IBM's 23-year streak of annual dividend hikes (aristocrat in 2020) could make the dividend appear secure, buyers deserve to realize that the payout is not as safe because it initially looks.

    In distinction to IBM, a high-yield but flailing company big, Enbridge presents excessive-yield blue-chip traders every little thing that IBM lacks. eventually that makes it an objectively far sophisticated lengthy-term revenue increase alternative to IBM, which is why I cannot advocate purchasing huge Blue these days, even at its rock-bottom valuation.

    Enbridge: The Berkshire Of Midstream Continues To hearth On All Cylinders

    Like IBM, Enbridge is one in every of its business's (midstream oil & fuel infrastructure) oldest and largest names. It turned into based in 1949 and owns North america's biggest assortment of money-wealthy and broad moat energy transportation systems.

    (supply: Enbridge Investor Presentation)

    these days Enbridge owns:

  • 52,000 miles of oil & gas pipelines
  • regulated utilities with three.5 million valued clientele
  • 11.4 billion cubic ft/day of gasoline processing skill
  • 307,000 barrels per day of natural fuel drinks or NGL creation means
  • 437 billion cubic toes of gas storage capacity
  • Enbridge's midstream network is one of the most built-in on the continent, serving practically each important oil & gas producing location within the US and Canada. thanks to possessing 70% of Canada's oil takeaway ability (65% potential for US imports from Canada), 28% of North the us's oil (and 20% of its fuel) runs via Enbridge's pipelines.

    the key to what makes Enbridge such a fine excessive-yield dividend boom inventory is the toll-sales space nature of its company. completely 96% of its money circulate is below long-term (4 to 30 yr) extent committed contracts. those contracts are all with colossal investment grade valued clientele (oil & gasoline producers and regulated utilities) meaning that the chance of contract default is very low, even in a deep recession or business downturn (like the oil crash of 2014 to 2016 when crude plunged seventy six%).

    (supply: Enbridge Investor Presentation)

    In complete below 1% of Enbridge's money circulation is affected by volatile commodity fees.

    (source: Enbridge investor presentation)

    here's why Enbridge has been in a position to convey 23 consecutive years (it raised the dividend 10% in 2018) of dividend raises, matching IBM's payout growth music record.

    (supply: Enbridge investor presentation)

    despite the fact, in contrast to IBM, which has delivered terrible total returns over the past few many years years, Enbridge has delivered market-crushing total returns.

    Chart IBM complete Return fee statistics by way of YCharts

    in fact, IBM has in reality underperformed the market considering 1990 (28 years), while Enbridge has managed to raise shareholder wealth 36 fold (13.4% CAGR). and that's the reason even factoring in the 4-12 months midstream undergo market.

    That undergo market has been caused by a perfect storm of components that contains:

  • the second worst oil crash in over 50 years
  • interest costs rising off their lowest tiers in history
  • two market corrections
  • FERC rule change
  • in contrast to IBM, Enbridge is led by one of the crucial trade's most fulfilling and most proven administration teams. The CEO, Al Monaco, has been with the enterprise for 23 years, and been CEO on the grounds that 2012, like Virginia Rometty. however in contrast to IBM's bad administration, Enbridge has managed to carry very powerful precise-line increase, virtually doubling earnings considering that Monaco took over the top job.

    (supply: easily secure Dividends)

    That strong boom has additionally translated into the final analysis, which for Enbridge potential its distributable cash movement or DCF/share. DCF is the midstream equal of free money stream and what funds the dividend.

    (source: Enbridge earnings presentation) - figures in CAD

    because of placing $5.3 billion in initiatives into carrier within the first nine months of the yr, Enbridge's DCF/share is up 30% YTD, and within the last quarter changed into up 13%. distinction that with IBM's flat boom and falling free money stream and you'll see why I believe Enbridge this type of advanced funding.

    (source: Enbridge profits presentation) - figures in CAD

    That strong increase goes to proceed because of $sixteen.6 billion in growth projects Enbridge is working on, which might be scheduled to be achieved and producing recurring, contracted, and recession resistant cash stream with the aid of the conclusion of 2020.

    good administration is not basically supplying strong precise and final analysis increase, as well as quick-turning out to be dividends (11% CAGR when you consider that 1995) in all manner of economic, business, or pastime price environments. It additionally potential adapting to unexpected regulatory/business disruptions (which IBM has did not do well).

    (source: Enbridge earnings presentation)

    one of those essential disruptions turned into a rule change with the aid of the Federal energy Regulatory fee or FERC, which regulates a great deal of the us's interstate pipeline network. This change (announced March 2018) disallowed MLPs from taking an income tax allowance on interstate charge of service contracts on pipelines regulated by using FERC beginning in 2020.

    This intended that many of Enbridge's MLPs, together with Spectra energy companions (SEP), Enbridge energy companions (EEP), Enbridge energy management (EEQ), and mutual fund Enbridge income Fund Holdings (OTC:EBGUF) might face significant money movement disruption. subsequently, the unit/share fees on those shares crashed, raising their costs of fairness enormously and making ecocnomic boom difficult and even unattainable. So Enbridge is purchasing out its MLPs/mutual fund in an $8.9 billion inventory deal, it is expected to thoroughly close by mid-December.

    (supply: Enbridge income presentation)

    whereas the merger is controversial among buyers in SEP, EEP, EEQ, and EBGUF, as a result of some terrible tax consequences for some traders and a pretty good payout reduce for essentially all of them, sooner or later this merger is an immense win for all lengthy-time period stakeholders. this is because it creates one of the vital gold standard future dividend aristocrats that you would be able to own. here is for a large number of motives together with:

  • neutralizing negative FERC consequences (only applies to MLPs, not corporations like Enbridge)
  • simplified corporate structure (and a promised credit improve from Moody's)
  • protecting a hundred% of money flow from its midstream infrastructure (and thus deleveraging its stability sheet)
  • allows for a self-funding enterprise model (one hundred% independence on future boom plans despite share fee)
  • moreover, in early 2018 management completed its revised funding plan, meaning that a hundred% of its increase projects via 2020 are now funded.

    (source: Enbridge earnings presentation) - figures in CAD

    thanks to the merger, as smartly nearly as good execution on its increase plans, administration is now guiding for a DCF/share to are available at $3.30 this 12 months, the higher conclusion of its 2018 suggestions. That represents 19% DCF/share increase, which for a company of Enbridge's dimension is easily impressive. it be additionally a growth price that IBM investors can't even imagine occurring in their wildest fantasies. Enbridge is planning on supplying 10% dividend boom in 2019 and 2020, meaning it will have accomplished 25 consecutive years of double-digit dividend boom the yr it turns into the midstream trade's first dividend aristocrat.

    (source: Enbridge earnings presentation)

    And take into account that Enbridge has completed all this whereas frequently deleveraging its steadiness sheet. The leverage ratio peaked at about 7.0 in 2015 (normal for midstream become 6.5 on the time), and that leverage ratio has been continuously falling, regardless of steady aggressive boom in new initiatives and 10+% dividend boom.

    management has now overwhelmed its own deleveraging pursuits, which called for a 5.0 leverage ratio by the conclusion of the 12 months. today ENB's leverage is four.7 and a stone's throw from the 4.5 2020 goal. For context, the average MLP has a leverage ratio of four.4, but Enbridge's advanced contract/customer profile still supplies it a BBB+ credit standing.

    companyDebt/Adjusted EBITDA activity coverage Ratio S&P credit rating

    standard pastime can charge

    Enbridge four.7 4.5BBB+ four.4% business average four.4 4.5NA NA

    (Sources: salary unencumber, management suggestions, Gurufocus, Morningstar)

    that's tied for the highest in the industry and is why the business remains capable of borrow at low-fastened fees that make certain the profitability of its future tasks.

    The final analysis is that Enbridge is every thing IBM isn't. A excessive-yield dividend blue-chip it truly is becoming like a weed, run by an excellent management team (that meets or beats on counsel), and best of all, has a transparent lengthy-time period runway to bring effective payout boom for the foreseeable future.

    long-term growth Outlook continues to be miraculous because of massive Secular Tailwinds, World classification management, And A Self-Funding company model

    There are three key components why i like to recommend Enbridge so tremendously presently (and why it be my third greatest position put up-SEP merger). the primary is the quality management crew, which in contrast to with IBM, has proven it could actually bring robust boom in cash circulate, dividends, and market-beating lengthy-term returns. That management crew is blessed with a enormous growth runway, courtesy of North the us's epic oil & fuel growth.

    (supply: Enbridge investor presentation)

    not just does Enbridge serve every primary fuel shale formation in North america, but it surely's additionally a dominant participant in oil.

    (source: EIA)

    in response to the U.S. energy counsel Administration, US oil production is anticipated to grow through 2030 before stabilizing via 2043. What does that really mean?

    (source: Mackenzie)

    in response to analyst firm Mackenzie, by 2025 US shale creation will increase by means of about 5 million barrels per day. and that's simply from at present announced plans by means of the greatest oil producers. according to OPEC's newest forecast, by using the conclusion of the 2020s US shale construction could hit 16 million bpd. that would be greater than double 2017's tiers, and about thrice US oil construction in 2008. and that's the reason just from shale oil. complete US production may top at 18 million to twenty million bpd if OPEC's forecasts are suitable.

    (source: enterprise products partners investor presentation)

    Most of that multiplied creation is determined for the global export market, which is seeing American quickly turn into one of the most world's most dominant gamers. aspect in the insatiable demand for cheap US herbal gasoline from export markets in emerging markets (including via LNG), and you'll be aware why the EIA expects US fuel production to preserve becoming directly via as a minimum 2050.

    (source: INGAA)

    in line with the Interstate herbal gasoline affiliation of the united states that interprets to essentially $800 billion in new midstream infrastructure being essential with the aid of 2035, half for gasoline, half for oil and oil exports. Add in Canada's a whole lot of billions of new infrastructure wants, and the proven fact that North the united states's gasoline production is probably going to rise longer than oil, and you get a $1.2+ trillion growth market for midstream in the coming decades.

    (supply: Enbridge investor presentation) - figures in CAD

    here's why Enbridge says it has a potential "shadow backlog" of initiatives worth as much as $27 billion that it expects to construct between 2021 and 2025. Shadow projects are people who have yet to obtain enterprise contracts, devoid of which administration refuses to begin the allowing or development method.

    but great administration and an important increase runway for future growth tasks is nugatory without the vital reasonably priced capital to fund them. fortunately, Enbridge's roll-up of its MLPs and mutual fund capability that it should be in a position to self-fund its growth.

    (source: Enbridge investor presentation) - figures in CAD

    That potential paying out just 50% to 60% of DCF each and every yr in dividends and conserving over $three billion annually to fund the company's boom efforts. The company has now ended its DRIP program and plans to situation no extra fairness to fund its organic boom efforts. quite it plans to leverage that retained DCF with low-priced debt (while conserving a gentle and low leverage ratio of 4.5) which capability that Enbridge publish-2020 could doubtlessly make investments up to $5 to $6 billion per 12 months to grow its money circulation (and for that reason its dividend). bear in mind that the shadow backlog is up to $27 billion right now and that is the reason for five years price of projects. That capacity Enbridge is looking at $30+ billion in cozy funding which is more than ample to cover that.

    That translates into roughly 6% to 10% lengthy-term (past 2020) DCF and dividend boom, per administration's tips all over its final convention call. That growth rate is one which is far above what IBM or most US agencies should be capable of convey. And combined with Enbridge's 6.5% yield that translates into one of the crucial attractive lengthy-term high-yield investments you can make.

    Dividend Profiles: IBM offers A Theoretically fascinating equipment but Enbridge's Is Even superior

    probably the most important part of any revenue funding is the dividend profile which incorporates three elements: yield, defense, and long-term growth potential. mixed with valuation, this is what drives complete returns over time.

    agencyYield money circulate Payout Ratio 10 12 months Projected cash stream increase (Analyst Consensus) complete Return (No multiple expansion)

    Valuation Adjusted total Return competencies

    IBM 5.3% 44% 7% to 7.6% 12.three% to 12.9% 16.5% to 17.1% Enbridge 6.5% sixty two% 6% to 10% 12.5% to 16.5% 18.7% to 22.7% S&P 500 2.0% 38% 6.forty% eight.40% 0% to 5%

    (Sources: management information, Gurufocus, fast Graphs, readily secure Dividends, Morningstar, BlackRock, forefront, Yardeni analysis, Multpl.com, Moneychimp, Gordon Dividend boom model, Dividend Yield conception)

    IBM is primarily owned for its mouth-watering dividend, which is more than 2.5 times bigger than what the S&P 500 offers. but when high-yield is what you're after than Enbridge presents a a lot greater one.

    in terms of dividend security, IBM's low payout ratio ability the dividend is probably going protected, barring an enormous administration shakeup and strategic capital allocation shift as we saw in 1993. however Enbridge truly has a safer dividend, courtesy of its modest payout ratio (trade ordinary is 77%) on unexpectedly growing and recession resistant cashflow and plans to take that payout ratio down to 55% via 2020. The other half of the secure dividend components is the stability sheet. As we saw past, IBM's leverage ratio is determined to explode while Enbridge's has been falling frequently for years. IBM is dealing with credit score downgrades while Enbridge is anticipating upgrades (due to the MLP merger).

    As for dividend boom, Enbridge continues to carry its historic 10% dividend increase yr, after yr, dwelling up to its suggestions. IBM is offering slowing dividend boom of beneath 5%. as a result of its ballooning debt, that vogue is likely to continue through as a minimum 2021. IBM's dividend growth is rarely prone to healthy analyst lengthy-time period EPS/FCF growth forecasts of seven% to 7.6% (assuming that purple Hat achieves its anticipated increase rate) unless at least 2022.

    that is as a result of IBM's song listing on execution on its turnaround has been horrible for six straight years, and for that reason I remain skeptical that administration will all of sudden beginning delivering on its guarantees. meanwhile, Enbridge almost always hits its guidance and sometimes exceeds it. The newest lengthy-term dividend boom forecast is for 6% to 10%, and given the enterprise's track checklist on execution and large growth runway, I predict dividend growth over the next decade to be on the better conclusion of that latitude.

    Giving IBM the improvement of the doubt, and assuming it fully lives as much as analyst expectations, that capacity that the stock is likely able to 12.5% total returns, assuming no varied expansion. Enbridge, courtesy of faster dividend growth and a better-yield is probably going to deliver 14.5% complete returns, and with some distance much less uncertainty. For context, the S&P 500 has delivered historic complete returns of 9.1% since 1871, but from present valuations, I are expecting 8.4% CAGR returns over the next decade. Morningstar, BlackRock, and vanguard most effective expect 0% to five% CAGR complete returns from the market over the next five to 10-years. as a result both IBM and ENB are in a position to supplying market-crushing returns however Enbridge buyers have the advantage of possessing a thriving and quick-turning out to be enterprise.

    however what about IBM's rock-backside valuation? would not that make it a coiled spring that might doubtlessly generate stunning returns if it will possibly basically convey on some of its promised growth? neatly, even accounting for both inventory's low valuations Enbridge is probably going to bring a long way improved complete returns (20% vs 17%). it's because, in addition to a more robust-yield and faster dividend boom, Enbridge additionally has a sophisticated valuation in comparison to IBM.

    Valuation: IBM Is Undervalued but Enbridge even more So Chart IBM complete Return fee information by way of YCharts

    while each Enbridge and IBM have underperformed the market during the last year, Enbridge has crushed massive Blue yet still is still the greater undervalued inventory.

    forward PE Ratio 5 year general ahead PE boom rate Baked Into cost

    Analyst Consensus EPS increase

    eight.6 10.50.1% 7% to 7.6%

    (Sources: readily secure Dividends, quick Graphs, Benjamin Graham)

    yes, IBM's ahead PE is close the lowest stage it be viewed in over a decade. And that valuation implies zero lengthy-time period increase. The pink Hat acquisition on my own may still allow IBM to exceed that very low hurdle price.

    ahead P/DCF 5 yr usual P/DCF growth rate Baked In

    anticipated long-time period increase fee

    9.eight 10.0 0.7% 6% to 10%

    (Sources: administration tips, quick Graphs, Benjamin Graham)

    however Enbridge, due to a 4-12 months endure market (that defies its magnificent and enhancing fundamentals), is also trading at an absurdly low valuation. today which you can buy Enbridge for just 9.eight times 2018's suggestions of DCF. For midstream stocks, the P/DCF is the comparable to the PE ratio. That single digit cash assorted implies almost no long-time period growth, from an organization it really is on target to carry just about 20% DCF/share increase this yr, and 6% to 10% CAGR boom over the subsequent decade. So Enbridge, like IBM, is probably going to see huge diverse enlargement in the coming years, boosting complete returns immensely. however, Enbridge's growth is far much less speculative, given management's effective song list and clear growth opportunities.

    How a great deal of a valuation boost are we speaking about? For that, I turn to dividend yield thought or DYT, essentially the most effective valuation formula for blue-chip dividend shares. due to the fact that 1966 asset supervisor/e-newsletter writer investment satisfactory tendencies has been completely using DYT to obtain a long time of market-beating returns with 10% lessen volatility besides.

    (supply: funding excellent tendencies)

    DYT simply compares the present yield to its historical norms, because for corporations with particularly sturdy increase charges, yields tend to be suggest reverting or cycle round a comparatively fixed point that approximates reasonable cost.

    agencyYield ancient Yield cut price To reasonable price 10-12 months Valuation increase

    capabilities Valuation Adjusted complete Return

    IBM 5.3% 3.5% 34% four.2% sixteen.5% to 17.1% Enbridge 6.5% 3.6% forty five% 6.2% 18.7% to 22.7%

    (Sources: comfortably secure Dividends, Dividend Yield idea, Gurufocus, Moneychimp)

    IBM's old yield is three.5% whereas Enbridge's is 3.6%. that implies each stocks could be particularly undervalued, but Enbridge way over IBM. Assuming their yields return to their old norms over the next decade (the market can't ignore powerful and improving fundamentals continually), that skill that IBM and Enbridge traders could see their shares appreciate about 4% and 6% sooner than EPS/money move boom, respectively, over the arrival 10 years. but remember that IBM's yield is just more likely to revert to its historic norm IF administration finally gives you on its long-term guarantees. Enbridge's mean reversion is far much less unclear given the advanced nature of its management and extra evident increase runway.

    mix yield + long-time period cash flow/dividend increase with long-term valuation boost (the valuation-adjusted Gordon Dividend growth model) and you may get an affordable lengthy-time period return estimate for many shares. IBM has the skills to deliver sensational returns, however handiest if management can buck its horrific tune list. Enbridge is way more prone to deliver even stronger returns, and its return capabilities is way more definite.

    Of path, there are dozens of how you can cost a stock, and DYT and historical PE comparisons are only two. an additional is a discounted money circulate or DCF analysis. Morningstar has a pretty good three-stage model, that elements in extremely conservative increase assumptions that can also be particularly effective.

    agencyMorningstar fair price Estimate latest rate

    discount To fair price

    IBM $158 $119.56 24% Enbridge $47 $32.29 31%

    (source: Morningstar)

    be aware that Morningstar is anticipating IBM to carry lengthy-term 2.6% sales growth, 6% adjusted EPS increase, and has cut its reasonable cost estimate with the aid of 6% (from $168) in the closing quarter. Morningstar has lower reasonable value estimates for both stocks than DYT, but sooner or later agrees that Enbridge is the more undervalued (and better-first-class) inventory.

    The base line is that if you're searching for beneficiant, protected, and starting to be dividends, with fantastic capital beneficial properties potential (from low valuations) then Enbridge is fingers down the more sensible choice than IBM. but whereas Enbridge is a screaming purchase, for my part, handiest buyers comfy with its risk profile should personal it.

    dangers To agree with

    whereas Enbridge is a low-possibility excessive-yield blue chip (and future dividend aristocrat), there are nevertheless definite dangers/things traders should recognize earlier than investing.

    First, as a Canadian business, Enbridge can pay its dividend in CAD. This potential that your USD payouts will be a bit of variable in accordance with the change rate between the Loony and the dollar. next, in taxable accounts (however now not retirement money owed) there is a 15% withholding tax imposed by using the Canadian govt. happily, US buyers have a greenback for dollar tax credit that allows for most of us to absolutely offset this withholding (accordingly negating its effect on helpful yield). however simply $300/$600 per particular person/couple of all international dividend tax withholdings can also be claimed the usage of the typical 1040 tax form. For figures above this amount, the extra advanced form 1116 is required.

    As for dangers to Enbridge's enterprise mannequin, there are several to bear in mind. within the short-medium-term, the biggest risk to any midstream inventory is execution on its increase backlog. Environmentalists frequently sue in courtroom to problem regulatory approvals on pipelines and attempt to block and kill projects. while Enbridge's largest growth project, the $7 billion Line 3 alternative pipeline, has obtained ultimate approval (which turned into these days reaffirmed over environmentalist objections), Enbridge, like every midstream giants, has suffered some losses during the past. as an instance, in 2016, the enterprise's Northern Gateway oil pipeline approval became overturned through a Canadian court. management in the end needed to abandon the undertaking after 12 years of attempting to get it constructed. The base line on midstream execution risk is that even world-type administration does not always bat 1.0000, and some mission failures are to be expected.

    The other risk to believe is the realm's lengthy-term transition to renewable energy. The respectable news is that, despite what the media might have you trust, global oil & gas demand isn't going to fall off a cliff each time quickly. long-term industry/govt company forecasts already aspect in giant-scale adoption of EVs. as an instance, Mackenzie fashions 50% EV adoption in the US, China, and the eu through 2030 (30% of world auto earnings). Even with that huge volume of electric powered cars on the roads, the analyst enterprise estimates that global oil demand might not top except 2036.

    and then there may be the undeniable fact that herbal gas is likely to proceed gaining market share from coal in terms of electrical energy generation for a couple of greater many years. All these EVs will deserve to be charged, and for the foreseeable future, that capacity better fuel demand if you want to hold Enbridge's pipelines full. (source: Exxon Mobil investor presentation)

    Of path, all lengthy-time period forecasts are in simple terms guesstimates, and revolutionary new technology, chiefly in battery storage, might cause renewables to doubtlessly displace herbal gasoline a whole lot quickly. A united states of americaanalyst lately estimated that by using 2030 solar and wind energy "will conveniently be free." but that's unlikely on account that wind and photo voltaic are variable in nature and storage expertise remains cost prohibitive for now.

    in response to a look at posted in energy and Environmental Science, the can charge of storing ample renewable power to satisfy 12 hours of US demand at present battery costs can be $2.5 trillion. thus, current technology effectively makes dreams of a hundred% renewable power impossible. however sooner or later new battery tech (like liquid salts) might cut back the charge of battery storage from $200 per kilowatt-hour to simply $1 to $20 per KwHr, a 10 to 200 fold lower.

    while it be crucial for long-term ENB buyers to hold such risks in intellect, do not forget that revolution battery expertise is often being hyped through the media, however continually takes a extremely long term (if it comes in any respect) to hit the market and achieve huge market share. in the meantime, Enbridge is already working on diversifying into offshore wind (often in Europe), in addition to utilities. Or to put a different means, Enbridge is among the most diverse midstream stocks that you could personal, and the without doubt to be capable of at last transition to a renewable future (decades from now).

    bottom line: IBM continues to be A Floundering And Mismanaged tremendous while Enbridge Is A sooner starting to be And much more Undervalued superior excessive-Yield choice

    do not get me wrong, i'm not always announcing that buying IBM at latest tiers is a nasty excessive-yield funding. The generous dividend is likely to continue to be safe, at the least for now, barring a massive management shakeup and company restructuring. At ultra-modern valuation, which is pricing in a complete failure of the turnaround strategy, the enterprise need merely generate modest suitable and base line growth with the intention to possible generate amazing complete returns.

    however, sooner or later the success of any investment comes down to the pleasant of the management team. Virginia Rometty has had six years to bring on her promised cloud-primarily based future tech turnaround approach. Her music record has been an abysmal failure thus far, as seen by way of declines in each revenues and profits, in addition to returns on invested capital plummeting over 50%. investors may still be skeptical that the pink Hat acquisition, for which IBM grossly overpaid and goes to greatly leverage its stability sheet, will be the strategic determination that ultimately restores IBM to amazing long-time period increase.

    In contrast, Enbridge is an objectively advanced high-yield blue-chip, with a proven administration group that has delivered mind-blowing dividend boom and complete returns over the many years. nowadays Enbridge's growth engine is firing on all cylinders and the business is making the most of a many years-lengthy, big industry growth runway. mix that with an even improved valuation, bigger (and safer) yield, faster dividend boom, and a low-possibility self-funding business mannequin, and you get a much better area for buyers to invest their difficult earned cash nowadays.

    Disclosure: i am/we are long SEP, ENB, AMZN.

    I wrote this text myself, and it expresses my own opinions. i'm not receiving compensation for it (apart from from in search of Alpha). I haven't any enterprise relationship with any company whose inventory is outlined in this article.


    Q&A: IBM Flash Storage methods CTO Andy partitions | killexams.com Real Questions and Pass4sure dumps

    First identify: closing identify: e-mail address: Password: ascertain Password: Username:

    Title: C-level/President supervisor VP team of workers (affiliate/Analyst/and many others.) Director

    feature:

    function in IT resolution-making procedure: Align enterprise & IT goals Create IT approach assess IT wants manage vendor Relationships consider/Specify manufacturers or providers other function Authorize Purchases no longer concerned

    Work cellphone: company: enterprise dimension: industry: road handle metropolis: Zip/postal code State/Province: country:

    sometimes, we send subscribers special offers from opt for partners. Would you want to acquire these particular partner presents by means of electronic mail? sure No

    Your registration with Eweek will encompass right here free e mail e-newsletter(s): news & Views

    by means of submitting your wireless number, you agree that eWEEK, its connected properties, and dealer partners providing content material you view may contact you using contact middle technology. Your consent is not required to view content material or use website elements.

    through clicking on the "Register" button under, I agree that I have carefully examine the phrases of provider and the privacy coverage and i conform to be legally sure via all such terms.

    Register

    continue with out consent      

    IBM goals the future of Social Media Analytics | killexams.com Real Questions and Pass4sure dumps

  • Tweet
  • Share
  • submit
  • IBM (s ibm) announced a new product dedicated to assisting purchasers operate sentiment analysis of social media information on Thursday, as well as a brand new program with the Yale faculty of management’s center for customer perception to educate college students in advanced records evaluation capabilities. With groups more and more getting hip to social media as a method of connecting with consumers, and with an business-huge need for analytics competencies, each the product and challenge are smartly-timed.

    the new product, known as Cognos client perception, is developed upon IBM’s Cognos company intelligence expertise together with Hadoop to method the piles of unstructured social media facts. based on Deepak Advani, IBM’s VP of predictive analytics, there’s lots of price in performing textual content analytics on data derived from Twitter, fb and other social forums to verify how corporations or their products are faring amongst buyers. Cognos lets consumers view sentiment degrees over time to check how efforts are working, he introduced, and skilled analysts can increase their Cognos consumer insight utilization with IBM’s SPSS product to convey predictive analytics into the combine.

    advertisement

    The partnership with Yale is designed to tackle the latest dearth of analytic advantage among company leaders, Advani stated. although the software will involve training on analytics applied sciences, Advani explained that business people still want some grounding in analytic theory and thinking instead of just understanding how to use a particular piece of utility. “I feel the primary intention is for students to gain knowledge of analytically,” he noted, as a way to help know which know-how to place to work on what records, and the way.

    within many groups, he introduced, the main problem is that they’re no longer the usage of analytics on the element of resolution or across all their enterprise methods. Advani says partnerships like those with Yale will help instill the thought manner of using mathematical algorithms in its place of intestine feelings.

    To enhance these goals, Advani stated IBM will deliver each application and technical consultants to assist teach students. It also will connect students with IBM shoppers who wish to increase their analytics efforts so both agencies can work in the course of the highest quality methods for doing so. Working handiest with IBM software should be would becould very well be a bit limiting on the expertise facet, but the practice in solving true-world complications with facts analytics may still be worthwhile regardless the equipment purchasable.

    We’ve been speakme concerning the want for advanced analytics capabilities for a long time now — highlighted by the excessive demand for facts scientists — however the need spans all degrees of company clients. As Advani cited, even the U.S. Bureau of Labor has mentioned analytics jobs will boost 24 % over the subsequent eight years.

    image courtesy of Flickr person James Sarmiento.


    000-M90 IBM Content Analytics Theory Technical Mastery Test v1

    Study Guide Prepared by Killexams.com IBM Dumps Experts


    Killexams.com 000-M90 Dumps and Real Questions

    100% Real Questions - Exam Pass Guarantee with High Marks - Just Memorize the Answers



    000-M90 exam Dumps Source : IBM Content Analytics Theory Technical Mastery Test v1

    Test Code : 000-M90
    Test Name : IBM Content Analytics Theory Technical Mastery Test v1
    Vendor Name : IBM
    Q&A : 49 Real Questions

    Do now not spend big amount on 000-M90 courses, get this query financial institution.
    My brother saden me telling me that I wasnt going to undergo the 000-M90 exam. I word once I look outside the window, such a lot of special human beings need to be seen and heard from and they simply need the attention folks however i can tell you that we students can get this interest whilst we skip our 000-M90 test and i will let you know how I cleared my 000-M90 checkit turned into best when I were given my observe questions from killexams.com which gave me the wish in my eyes collectively all the time.


    Take these 000-M90 questions and answers before you go to vacations for test prep.
    i have never used one of these first-rate Dumps for my mastering. It assisted properly for the 000-M90 exam. I already used the killexams.com killexams.com and passed my 000-M90 exam. its miles the flexible material to use. however, i used to be a under common candidate, it made me pass within the examination too. I used most effective killexams.com for the getting to know and by no means used any other fabric. i can hold on using your product for my future exams too. got 98%.


    it's far unbelieveable, however 000-M90 real take a look at questions are availabe here.
    Thumb up for the 000-M90 contents and engine. Certainly worth looking for. No doubt, refering to my friends


    Great idea to prepare 000-M90 actual test questions.
    I was very disappointed when I failed my 000-M90 exam. Searching the internet told me that there is a website killexams.com which is the resources that I need to pass the 000-M90 exam within no time. I buy the 000-M90 preparation pack containing questions answers and exam simulator, prepared and sit in the exam and got 98% marks. Thanks to the killexams.com team.


    Found an accurate source for real 000-M90 dumps.
    I surpassed the 000-M90 certification these days with the assist of your furnished Questions solutions. This combined with the path that you need to take a good way to become a certified is the manner to move. In case you do but suppose that actually remembering the questions and answers is all you need to pass properly youre wrong. There had been pretty a few questions about the exam that are not inside the provided QA but in case you prepare these forms of Questions solutions; you may strive those very with out problem. Jack from England


    amazing concept to put together 000-M90 real exam questions.
    Killexams.Com Dumps web page helped me get get right of entry to to diverse examination schooling fabric for 000-M90 exam. I was careworn that which one I want to select out, but your specimens helped me choose the super one. I purchased killexams.Com Dumps direction, which notably helped me see all of the crucial ideas. I solved all questions in due time. I am absolutely happy to have killexams.Com as my tutor. An awful lot desired


    right Place to discover 000-M90 brand new dumps paper.
    I am running into an IT company and therefore I hardly ever find any time to put together for 000-M90 Exam. Therefore, I arise to an clean end of killexams.Com Q&A dumps. To my surprise it labored like wonders for me. I should resolve all of the questions in least viable time than supplied. The questions appear to be pretty clean with excellent reference manual. I secured 939 marks which became without a doubt a high-quality surprise for me. Great thanks to killexams!


    these 000-M90 actual test questions works within the actual take a look at.
    i have cleared the 000-M90 exam inside the first attempt. I ought to acquire this achievement due to killexams.Com query economic organization. It helped me to apply my paintings ebook knowledge in the question & solution layout. I solved these query papers with examination simulator and were given complete idea of the examination paper. So I would like to thank killexams.


    first rate possibility to get certified 000-M90 examination.
    This coaching kit has helped me bypass the examination and emerge as 000-M90 certified. I could not be greater excited and grateful to killexams.com for such an clean and dependable preparation device. I can confirm that the questions within the package are actual, this is not a faux. I selected it for being a dependable (advocated by using a pal) manner to streamline the exam training. Like many others, I could not afford reading full time for weeks or even months, and killexams.com has allowed me to squeeze down my education time and still get a terrific result. Great solution for busy IT experts.


    Shortest questions that works in real test environment.
    I effectively comprehended the troublesome subject matters like Delivery Competence and Content Expertise effects from killexams. I successfully rating 90% marks. All credit to killexams.Com. I became looking for a reference guide which helped me in making plans for the 000-M90 exam. My occupied calendar just approved me to more time of hours with the aid of one manner or any other. By booking and procuring the killexams.Com Questions/Answers and exam simulaotr, I were given it at my entryway project interior one week and started planning.


    Obviously it is hard assignment to pick solid certification questions/answers assets concerning review, reputation and validity since individuals get sham because of picking incorrectly benefit. Killexams.com ensure to serve its customers best to its assets concerning exam dumps update and validity. The vast majority of other's sham report objection customers come to us for the brain dumps and pass their exams cheerfully and effectively. We never trade off on our review, reputation and quality because killexams review, killexams reputation and killexams customer certainty is vital to us. Uniquely we deal with killexams.com review, killexams.com reputation, killexams.com sham report grievance, killexams.com trust, killexams.com validity, killexams.com report and killexams.com scam. In the event that you see any false report posted by our rivals with the name killexams sham report grievance web, killexams.com sham report, killexams.com scam, killexams.com dissension or something like this, simply remember there are constantly terrible individuals harming reputation of good administrations because of their advantages. There are a great many fulfilled clients that pass their exams utilizing killexams.com brain dumps, killexams PDF questions, killexams hone questions, killexams exam simulator. Visit Killexams.com, our specimen questions and test brain dumps, our exam simulator and you will realize that killexams.com is the best brain dumps site.


    Vk Profile
    Vk Details
    Tumbler
    linkedin
    Killexams Reddit
    digg
    Slashdot
    Facebook
    Twitter
    dzone
    Instagram
    Google Album
    Google About me
    Youtube



    NS0-530 study guide | M5050-716 braindumps | AND-402 free pdf | 400-201 practice exam | 000-M38 free pdf | OCS real questions | HP3-C11 dump | ST0-093 practice questions | Adwords-fundamentals real questions | HP2-K21 real questions | 920-246 exam questions | 920-130 practice test | NCLEX bootcamp | 199-01 study guide | HP0-M28 braindumps | 648-375 Practice test | 000-555 study guide | A2010-651 Practice Test | PW0-205 test prep | P2060-017 cram |


    [OPTIONAL-CONTENTS-3]

    People used these IBM dumps to get 100% marks
    At killexams.com, we deliver absolutely tested IBM 000-M90 actually same real exam Questions and Answers that are lately required for Passing 000-M90 exam. We without a doubt enable individuals to get ready to prep our brain dump questions and assure. It is an excellent selection to speed up your position as an expert inside the Industry.

    If you are interested in successfully completing the IBM 000-M90 exam to start earning? killexams.com has leading edge developed IBM Content Analytics Theory Technical Mastery Test v1 exam questions that will ensure you pass this 000-M90 exam! killexams.com delivers you the most accurate, current and latest updated 000-M90 exam questions and available with a 100% money back guarantee. There are many companies that provide 000-M90 brain dumps but those are not accurate and latest ones. Preparation with killexams.com 000-M90 new questions is a best way to pass this certification exam in easy way.

    We are all well aware that a major problem in the IT industry is that there is a lack of quality study materials. Our exam preparation material provides you everything you will need to take a certification exam. Our IBM 000-M90 Exam will provide you with exam questions with verified answers that reflect the actual exam. These questions and answers provide you with the experience of taking the actual test. High quality and value for the 000-M90 Exam. 100% guarantee to pass your IBM 000-M90 exam and get your IBM certification. We at killexams.com are committed to help you pass your 000-M90 exam with high scores. The chances of you failing your 000-M90 test, after going through our comprehensive exam dumps are very little.

    IBM 000-M90 is rare all around the globe, and the business and programming arrangements gave by them are being grasped by every one of the organizations. They have helped in driving a large number of organizations on the beyond any doubt shot way of achievement. Far reaching learning of IBM items are viewed as a critical capability, and the experts certified by them are exceptionally esteemed in all associations.

    We give genuine 000-M90 pdf exam questions and answers braindumps in two arrangements. Download PDF and Practice Tests. Pass IBM 000-M90 real Exam rapidly and effectively. The 000-M90 braindumps PDF sort is accessible for perusing and printing. You can print increasingly and practice ordinarily. Our pass rate is high to 98.9% and the comparability rate between our 000-M90 study guide and genuine exam is 90% in light of our seven-year teaching background. Do you need successs in the 000-M90 exam in only one attempt? I am right now examining for the IBM 000-M90 real exam.

    As the only thing that is in any way important here is passing the 000-M90 - IBM Content Analytics Theory Technical Mastery Test v1 exam. As all that you require is a high score of IBM 000-M90 exam. The just a single thing you have to do is downloading braindumps of 000-M90 exam prep directs now. We will not let you down with our unconditional guarantee. The experts likewise keep pace with the most up and coming exam so as to give the greater part of updated materials. Three Months free access to have the capacity to them through the date of purchase. Each applicant may bear the cost of the 000-M90 exam dumps through killexams.com at a low cost. Frequently there is a markdown for anybody all.

    killexams.com Huge Discount Coupons and Promo Codes are as under;
    WC2017 : 60% Discount Coupon for all exams on website
    PROF17 : 10% Discount Coupon for Orders greater than $69
    DEAL17 : 15% Discount Coupon for Orders greater than $99
    OCTSPECIAL : 10% Special Discount Coupon for All Orders


    We have our experts working reliably for the social occasion of actual exam questions of 000-M90. All the pass4sure questions and answers of 000-M90 collected by methods for our association are reviewed and updated by methods for our 000-M90 braindumps. We remain identified with the opposition appeared in the 000-M90 test to get their audits about the 000-M90 exam, we secure 000-M90 exam tips and tricks, their delight in roughly the systems used as a piece of the actual 000-M90 exam, As they performed inside the real test and after that improve our material properly. When you make the most of our pass4sure questions and answers, you'll feel positive roughly every one of the points of test and feel that your knowledge has been tremendously advanced. These pass4sure questions and answers are not most likely practice questions, those are actual exam questions and answers which will be adequate to pass the 000-M90 exam.

    IBM certifications are extremely required transversely finished IT establishments. HR managers lean toward candidates who've a perception of the topic, notwithstanding having completed certification exams in the circumstance. All the IBM certification help provided on killexams.com are described round the field.

    It is actual to specify that you are attempting to discover real exams questions and answers for the IBM Content Analytics Theory Technical Mastery Test v1 exam? We are appropriate here to offer you one most forward and first-class resources is killexams.com, We have amassed a database of questions from actual test with a reason to give you a hazard free arrangement and pass 000-M90 exam on the significant endeavor. All preparation materials at the killexams.com site are imaginative and verified through guaranteed experts.

    Why killexams.com is the Ultimate decision for insistence arranging?

    1. An attractive protest that Help You Prepare for Your Exam:

    killexams.com is a conclusive making arrangements hotspot for passing the IBM 000-M90 exam. We have intentionally assented and collected real exam questions and answers, in the know regarding a vague repeat from actual exam is exceptional, and examined through big business authorities. Our IBM authorized specialists from several organizations are competent and guaranteed/certified people who have researched each request and answer and clarification portion keeping up as a primary concern the stop plan to enable you to fathom the thought and pass the IBM exam. The most extreme ideal way to deal with plan 000-M90 exam is to memorize everything in our 000-M90 cheatsheet, anyway taking activity actual questions and answers. Practice questions enable you for the considerations, and also the approach in questions and answer picks are presented during the real exam.

    2. Simple to perceive Mobile Device Access:

    killexams.com give to an awe inspiring certificate smooth to apply get right of section to killexams.com things. The centralization of the site is to introduce certifiable, updated, and to the immediate material toward empower you to examine and pass the 000-M90 exam. You can quickly locate the actual questions and answer database. The site is adaptable genial to permit prepare anyplace, inasmuch as you have web connection. You can really stack the PDF in compact and think wherever.

    three. Access the Most Recent IBM Content Analytics Theory Technical Mastery Test v1 Real Questions and Answers:

    Our Exam databases are regularly updated for the length of an opportunity to incorporate the greatest current real questions and answers from the IBM 000-M90 exam. Having Accurate, actual and current actual exam questions, you may pass your exam on the primary attempt!

    4. Our Materials is Verified through killexams.com Industry Experts:

    We are doing battle to giving you actual IBM Content Analytics Theory Technical Mastery Test v1 exam questions and answers, nearby clarifications. Each Q&A on killexams.com has been appeared by IBM certified professionals. They are somewhat qualified and certified people, who've several times of expert delight in related to the IBM exams.

    5. We Provide all killexams.com Exam Questions and Include Detailed Answers with Explanations:

    Not in any way like various other exam prep sites, killexams.com gives updated actual IBM 000-M90 exam questions, notwithstanding quick and dirty answers, clarifications and diagrams. This is essential to enable the cheerful to comprehend the correct answer, notwithstanding proficiency roughly the choices that were wrong.

    killexams.com Huge Discount Coupons and Promo Codes are as under;
    WC2017: 60% Discount Coupon for all exams on website
    PROF17: 10% Discount Coupon for Orders greater than $69
    DEAL17: 15% Discount Coupon for Orders greater than $99
    OCTSPECIAL: 10% Special Discount Coupon for All Orders


    [OPTIONAL-CONTENTS-4]


    Killexams 310-056 test prep | Killexams HP0-S21 exam questions | Killexams ACMP-6.4 cram | Killexams 644-344 free pdf | Killexams CLSSGB study guide | Killexams HP0-D04 real questions | Killexams 000-749 practice questions | Killexams VCPD610 practice exam | Killexams C9020-971 bootcamp | Killexams 9A0-095 Practice test | Killexams 3203-1 test prep | Killexams 000-N26 sample test | Killexams HP0-J48 exam prep | Killexams 190-620 VCE | Killexams HP0-920 dump | Killexams NS0-156 braindumps | Killexams 000-317 braindumps | Killexams 1Z1-403 cheat sheets | Killexams P2065-016 braindumps | Killexams 920-338 practice questions |


    [OPTIONAL-CONTENTS-5]

    View Complete list of Killexams.com Brain dumps


    Killexams M2035-725 free pdf | Killexams 000-052 dumps questions | Killexams SBAC dumps | Killexams 642-731 VCE | Killexams 000-537 pdf download | Killexams MB3-216 free pdf | Killexams 000-082 practice questions | Killexams ST0-199 exam prep | Killexams 050-665 cram | Killexams 1Z0-863 questions and answers | Killexams 1Z0-506 test prep | Killexams 000-207 braindumps | Killexams HP2-K09 free pdf | Killexams CUR-051 test prep | Killexams 920-504 brain dumps | Killexams M2150-756 real questions | Killexams P2080-088 questions answers | Killexams 000-677 dump | Killexams HP2-N52 brain dumps | Killexams 9A0-381 study guide |


    IBM Content Analytics Theory Technical Mastery Test v1

    Pass 4 sure 000-M90 dumps | Killexams.com 000-M90 real questions | [HOSTED-SITE]

    What Is Refactoring? | killexams.com real questions and Pass4sure dumps

    Refactoring is one of the most used terms in software development and has played a major role in the maintenance of software for decades. While most developers have an intuitive understanding of the refactoring process, many of us lack a true mastery of this important skill. In this article, we will explore the textbook definition of refactoring, how this definition holds up to the reality of software development, and how we can ensure our codebase is prepared for refactoring. Along the way, we will walk-through an entire set of refactorings, from start to finish, to illustrate the simplicity and importance of this ubiquitous process.

    A Simple Definition

    Refactoring is one of the most self-evident processes in software development, but it is surprisingly difficult to perform properly. In most cases, we deviate from strict refactoring and execute an approximation of the process; sometimes, things work out and we are left with cleaner code, but other times, we get snared, wondering where we went wrong. In either case, it is important to fully understand the importance and simplicity of barebones refactoring. Martin Fowler, the author of the seminal work on the topic, defines refactoring as follows:

    Refactoring is a controlled technique for improving the design of an existing code base. Its essence is applying a series of small behavior-preserving transformations, each of which "too small to be worth doing". However the cumulative effect of each of these transformations is quite significant. By doing them in small steps you reduce the risk of introducing errors. You also avoid having the system broken while you are carrying out the restructuring — which allows you to gradually refactor a system over an extended period of time.

    In short, the process of refactoring involves taking small, manageable steps that incrementally increase the cleanliness of code while still maintaining the functionality of the code. As we perform more and more of these small changes, we start to transform messy code into simpler, easier to read, and more maintainable code. It is not a single refactoring that makes the change: It's the cumulative effect of many small refactorings performed toward a single goal that makes the difference.

    For example, if we want to simplify a method, renaming a single variable may make little difference for a large method body, but if by renaming this variable we find that another variable represents the same value, we can remove the duplicate variable. That removes one line from the method, which may seem insignificant, but as we continue the process, more and more lines are removed and the method body starts to shrink. In some cases, the method may shrink to such a trivial level that we replace calls to the method with the method body itself (termed inlining).

    As we remove the method, we may realize that the class that contained the method may be so small, it is no longer worth it to have its logic in a separate class. We then move the remaining methods to a more appropriate class and remove the original class. By simply changing variable names and reducing duplication, the refactoring process snowballed into the removal of a method and eventually a class. It is important to note that throughout this process, we never changed the externally visible behavior of the application: We simply shifted around logic and removed duplication, but the application continued to function as it did before we started the refactoring process. This process is visually contrasted in the figure below with that of obtrusive changes that make major alterations to code in a single, sweeping motion.

    Image title

    Standard Refactoring Techniques

    In this sense, refactoring is analogous to rock climbing. We start on the ground and find a solid place to grab hold of. Next, we step up and check our footing. Then we find a new place to grab, moving our hands and our feet to position ourselves higher up the rock face. At each step, we test our footing before moving to the next position. While every few feet we progress may seem insignificant in comparison to the hundreds of feet of the rock face, each step puts us a few feet higher than the previous step. After some time, we look down and see that we have traveled quite a distance up the rock face.

    Just as with rock climbing, there are a standard set of techniques that can be used to safely and effectively accomplish the task at hand. In refactoring, these procedures are called refactoring techniques and there is a standard catalog of these techniques currently published. Each of these techniques is known to perform a safe transformation of code, where the behavior of the system is unchanged but the readability or the simplicity of the code is improved. A comprehensive listing of these techniques, including some very useful information, can be found in Martin Fowler's Refactoring. These refactoring techniques have also been collected into an interactive website called Refactoring Guru. It is highly suggested that the reader familiarize him or herself with these techniques, as they constitute the vocabulary of refactoring. For example, it is common to hear a developer state that he or she will "inline" a method or "pull up" a method or field in a hierarchy.

    Making Progress

    It is important to understand that refactoring is not a Sisyphean effort: There is a light at the end of the tunnel. Although removing one line in a code base of thousands, hundreds of thousands or even millions of lines of code may seem futile, it is not. Just as the system was built one line at a time, it can be cleaned up one line, one variable, one method, and one class at a time. It may seem futile since it appears that refactoring is truly never finished, but unlike Sisyphus, we are not doomed from the start and we are not cursed to never make progress. It requires a decent degree of patience, as well as a few important prerequisites.

    Prerequisites

    Not every code base can be refactored. Although any code can be cleaned up, only a specific code base can be truly refactored. In order to perform this process, we must have two prerequisites in place: (1) a goal and (2) quick, automated tests.

    A Goal

    When refactoring, we need to have a goal in mind. This goal does not need to be complex or even large, but we need to have criteria to know when we have sufficiently refactored our code. For example, we may have a very complex class hierarchy, with unneeded levels of interfaces, abstract classes, and concrete implementations. Our goal for this hierarchy can be to reduce the number of classes to some manageable number. We can accomplish this by moving methods up and down the hierarchy, composing classes rather than inheriting them, and a host of other generalization techniques.

    Some tips to keep in mind when establishing a goal include:

  • Keep it simple: Start small and maintain focus on a reasonably-sized goal
  • Break down large goals: If a goal involves refactoring hundreds of classes at once, break down this goal into small pieces; pick a smaller subset of classes to refactor; once the refactor is completed on this subset, move onto another subset
  • Be specific: Do not fall into the trap of stating that a goal is to "tidy up a method" or "clean up a class" (vague and abstract goals); instead, set a more measurable goal, such as to remove nested loops, remove complicated conditionals, reduce the number of lines of a method by moving common code into a private method, etc.
  • Focus on the end: Do not get distracted by the intermediate steps that are required to reach a goal; if reducing an inheritance hierarchy requires the creation of a few classes and the removal of others, do not get bogged down and forget that the end goal is to refactor the hierarchy, not simply add and remove classes
  • Although there is always more to refactor in a code base, start small and make progress. Completing a small refactoring earns us a level of confidence and satisfaction. With a goal in mind, we can now provide the technical requirement for refactoring: Quick and automated tests.

    Automated Tests

    Two of the most important questions we can ask ourselves when we work through the refactoring process are:

  • What is the desired behavior of the system?
  • How do we know that it will remain consistent when we make a change?
  • Both of these questions can be answered with tests. In theory, each time we make a small change to the system, the only way we can know what the intended behavior of the system is and know that we did not change it is to run a suite of tests for the code. In pragmatic terms, we need this test suite execute quickly and provide us with a simple yes or no answer to the question: Does everything still behave as intended? In real-world applications, this means swift, automated tests that fully exercise the behavior of the system. In summary, our tests must have the following characteristics in order for us to refactor code:

  • Execute quickly
  • Provide full coverage
  • Pass if the correct behavior of the system is exhibited and fail otherwise
  • Full coverage is difficult to strictly define, but it includes all of the unit, integration, acceptance, performance, and stress tests that accompany an application or the section of the application we are concerned with refactoring. It is important that these tests be quick to run since we must get feedback relatively quickly in order for our refactoring to be fruitful. If tests take a long time to run, it is unlikely that we will run them each time we make a change. For example, if we are performing small refactorings that each takes about 15 seconds to complete and the test suite takes 10 minutes to run, it is very unlikely that we will run the entire test suite after each refactoring. Note that not every test in the application needs to be run (e.g. long-running acceptance tests for an unrelated part of the system), but a sufficient degree of them should be run to ensure that we have not changed the behavior of the system when we refactored.

    These tests allow us to know that any change we make does not alter the behavior of the system. By using these tests, we can systematically perform a cycle of refactoring without worrying that we will break the system. This cycle starts with us making a change, running the tests, and seeing if the tests pass. If they do, we can rest assured that our refactor did not adversely affect the system, and continue with another refactoring. If the tests fail, we know that we have altered the system in some externally noticeable way and should undo our changes (which in actuality, was not a refactoring since it changed the external behavior of the system). This process is illustrated in the figure below.

    Image title

    This is very similar to the Test Driven Design (TDD) cycle, which actually includes a refactoring step. In TDD, we create a new test case, watch it fail, create a new feature, and ensure that the new feature passes our test case. Once the feature passes the test case, we can perform refactoring on the new feature. Each time we refactor the feature, we rerun all of the tests to ensure that we have not inadvertently altered the behavior of the feature. Once we are finished with our feature, we repeat the cycle, adding new tests and other features to the system. This process is illustrated in the figure below.

    Image title

    While it takes good judgment to know when and where to refactor, the process of refactoring is systematic: Make a change and test. This cycle should not be broken, as making an untested change can cause serious problems down the road. For example, suppose we perform five refactorings and then test. If the tests fail, we do not know which of the refactorings altered the behavior of the code and it may be difficult to undo each of these refactorings individually. Therefore, it is important to be deliberate in our refactoring process and not to outrun our headlights. In short, we should follow the old military adage:

    Slow is smooth, smooth is fast

    Before we move onto an example, it is important that we take a minute to understand what elicits the need to refactor in the first place, where to look for code that needs refactoring, and what we should recognize as code in need of refactoring.

    Accumulating Mess

    In a perfect world, our first pass at creating code would result in flawless, readable code that requires no changes. Each time we add to existing code, we would likewise take the time to clean it up so that the new code melds with the existing code as if the two were originally designed for one another. In reality, we do not live in a perfect world: We have project budgets, time constraints, personal lives, cars that break down, sick days that get taken, and corners that get cut.

    So how do we end up in a place where we are in need of refactoring? Each time we write code or make changes to existing code, we accrue technical debt (for more information, see the Refactoring Guru article on the topic). We (understandably) take reward now for pain later. Instead of taking the time to write clean code, we get the job done and move onto the next task. We do not have the time to stop and make sure that our methods are clean or take time to reflect and see if we could have simplified our inheritance hierarchy. When a deadline is bearing down on us, families at home that require our attention, and a host of other tasks to complete, something has to give. This is the time when we say, "I know it's not the way I want it to look, but it works. I'll come back to this later when I have some free time." But we know, just as Benjamin Franklin said:

    Tomorrow, every Fault is to be amended; but that Tomorrow never comes.

    Instead, we take out a loan: Writing messy code that works now for the promise of cleaning it up later. Just like with monetary debt, though, this postponement accrues interest: Cleaning up the code later will be much more difficult than it is right now. While it may be more difficult, we are not out of luck. There is a way to make repayments and reduce the principal on this loan: Refactoring. Even if we stumble across messy code (whether written by ourselves or others), it does not mean that it has to remain messy. In fact, a few simple changes can go a long way in improving the readability and simplicity of code and even reduce the hassle of future tasks (it is much easier to add a feature to clean code than it is to messy code).

    As we will see in the following section, we can take messy code and improve it without breaking it. This is not some pie-in-the-sky goal that is intended for impractical settings, but rather, can be accomplished in a relatively short period of time (relative to the gain we obtain), so long as we are diligent in following the refactoring process.

    Refactoring in Action

    Arguably, the most effective way to understand refactoring is to see it in action. To do this, we will create an application that is responsible for calculating the statistics for a goalie over a single ice hockey season. The two statistics we are interested in are

  • Goals Against Average (GAA): The number of goals scored against a goalie (called Goals Against, GA) divided by the number of minutes the goalie played for a season multiplied by 60 (the number of minutes per hockey game)
  • Save Percentage (SV%): The total number of saves (Shots on Goal, SOG, minus the number of goals scored on a goalie) divided by the total SOG.
  • Stated formally:

    Image title

    To calculate these values, we create the following classes (note that the test cases for these classes can be found in this GitHub repository):

    public class Game { private final double minutesPlayed; private final int goalsAgainst; private final int shotsOnGoalAgainst; public Game(int goalsAgainst, int shotsOnGoalAgainst, double minutesPlayed) { this.goalsAgainst = goalsAgainst; this.shotsOnGoalAgainst = shotsOnGoalAgainst; this.minutesPlayed = minutesPlayed; } public int getGoalsAgainst() { return goalsAgainst; } public int getShotsOnGoalAgainst() { return shotsOnGoalAgainst; } public double getMinutesPlayed() { return minutesPlayed; } } public class Season { private final List<Game> games; public Season(List<Game> games) { this.games = new ArrayList<>(games); } public Season() { this.games = new ArrayList<>(); } public void addGame(Game game) { games.add(game); } public void removeGame(Game game) { games.remove(game); } public List<Game> getGames() { return games; } public GoalieStatistics getGoalieStatistics() { return new GoalieStatistics(this); } } public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int tga = 0; double mins = 0; for (Game game: games) { tga += game.getGoalsAgainst(); mins += game.getMinutesPlayed(); } return (tga / mins) * 60; } } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int g = 0; int tsoga = 0; for (Game game: games) { g += game.getGoalsAgainst(); tsoga += game.getShotsOnGoalAgainst(); } return ((double) tsoga - g) / tsoga; } } }

    While this code seems simple enough, there are a number of improvements that we can make. In particular, the methods in GoalieStatistics class can be simplified by removing the loops and improving the naming of the variables (our goal). At the moment, we can surmise what these methods are trying to accomplished, but we cannot read the methods clearly. First, we will split up the loops in both methods:

    public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int tga = 0; for (Game game: games) { tga += game.getGoalsAgainst(); } double mins = 0; for (Game game: games) { mins += game.getMinutesPlayed(); } return (tga / mins) * 60; } } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int g = 0; for (Game game: games) { g += game.getGoalsAgainst(); } int tsoga = 0; for (Game game: games) { tsoga += game.getShotsOnGoalAgainst(); } return ((double) tsoga - g) / tsoga; } }

    After this change, we rerun our tests and all of the tests still pass. This may seem counterintuitive: Why would we create more lines of code to accomplish our goal? If we look closely, we now see that both methods have the same logic for calculating the total SOG. To remove this duplication, we can use the extract method refactoring to pull this common logic out into a single method:

    public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int tga = getTotalGoalsAgainst(games); double mins = 0; for (Game game: games) { mins += game.getMinutesPlayed(); } return (tga / mins) * 60; } } private int getTotalGoalsAgainst(List<Game> games) { int g = 0; for (Game game: games) { g += game.getGoalsAgainst(); } return g; } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int g = getTotalGoalsAgainst(games); int tsoga = 0; for (Game game: games) { tsoga += game.getShotsOnGoalAgainst(); } return ((double) tsoga - g) / tsoga; } }

    We again run our tests and all our tests pass. With this loop extracted into its own method, we can now see we can simplify it into a single line using the Streams API:

    private int getTotalGoalsAgainst(List<Game> games) { return games.stream().mapToInt(game -> game.getGoalsAgainst()).sum(); }

    Again, we run all our tests and they all pass (for the remainder of this article, we will skip mentioning that we rerun tests after each step, but be sure to rerun them after each step, regardless of how small). If we look at this method, it has only one parameter: A list of Game objects obtained from the Season object. This should hint that this method probably belongs in the the Season class. In order to simplify our code, we will perform a move method refactoring, adding a public version of this method to the Season class, removing the single parameter, and removing the original private method in the GoalieStatistics class. Note that we also must change the calls to the original method to calls to the Season class version of the method. This results in the following definitions for the Season and GoalieStatistics classes:

    public class Season { private final List<Game> games; // ... public int getTotalGoalsAgainst() { return games.stream().mapToInt(game -> game.getGoalsAgainst()).sum(); } } public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int tga = season.getTotalGoalsAgainst(games); double mins = 0; for (Game game: games) { mins += game.getMinutesPlayed(); } return (tga / mins) * 60; } } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int g = season.getTotalGoalsAgainst(games); int tsoga = 0; for (Game game: games) { tsoga += game.getShotsOnGoalAgainst(); } return ((double) tsoga - g) / tsoga; } } }

    We can repeat this process for the remaining loops in each of the GoalieStatistics methods. Note that we perform the extract method refactoring, followed by the method simplification (using the Streams API), followed by the move method refactoring, ensuring that all our tests pass after each step, not just at the beginning and the end of the three changes:

    public class Season { private final List<Game> games; // ... public int getTotalGoalsAgainst() { return games.stream().mapToInt(game -> game.getGoalsAgainst()).sum(); } public int getTotalShotsOnGoalAgainst() { return games.stream().mapToInt(game -> game.getShotsOnGoalAgainst()).sum(); } public double getTotalMinutesPlayed() { return games.stream().mapToDouble(game -> game.getMinutesPlayed()).sum(); } } public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int tga = season.getTotalGoalsAgainst(); double mins = season.getTotalMinutesPlayed(); return (tga / mins) * 60; } } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { List<Game> games = season.getGames(); int g = season.getTotalGoalsAgainst(); int tsoga = season.getTotalShotsOnGoalAgainst(); return ((double) tsoga - g) / tsoga; } } }

    If we look at our GoalieStatistics methods, we see that the games variable is now unused, so we can remove it. We can also rename the remaining variables in each of the methods to better describe the values they hold:

    public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (season.getGames().isEmpty()) { return 0.0; } else { int totalGoalsAgainst = season.getTotalGoalsAgainst(); double totalMinutesPlayed = season.getTotalMinutesPlayed(); return (totalGoalsAgainst / totalMinutesPlayed) * 60; } } public double getSavePercentage() { if (season.getGames().isEmpty()) { return 0.0; } else { int totalGoalsAgainst = season.getTotalGoalsAgainst(); int totalSogAgainst = season.getTotalShotsOnGoalAgainst(); return ((double) totalSogAgainst - totalGoalsAgainst) / totalSogAgainst; } } }

    There is one more refactoring that we can address: The call season.getGames().isEmpty() is simply checking if there are games played for a season. In other words, "has the season started yet?" In order to better convey the intent of this conditional check, we will extract this check into a method and move the method to the Season class:

    public class Season { private final List<Game> games; // ... public boolean hasStarted() { return !games.isEmpty(); } } public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (!season.hasStarted()) { return 0.0; } else { int totalGoalsAgainst = season.getTotalGoalsAgainst(); double totalMinutesPlayed = season.getTotalMinutesPlayed(); return (totalGoalsAgainst / totalMinutesPlayed) * 60; } } public double getSavePercentage() { if (!season.hasStarted()) { return 0.0; } else { int totalGoalsAgainst = season.getTotalGoalsAgainst(); int totalSogAgainst = season.getTotalShotsOnGoalAgainst(); return ((double) totalSogAgainst - totalGoalsAgainst) / totalSogAgainst; } } }

    Note that we have used the negative of the original call. We can accomplish this refactoring by extracting the original season.getGames().isEmpty() call into a method named hasNotStarted. We then run our tests and ensure our tests pass. We then negate the return value and negate the locations that the hasNotStarted method is called. We rerun our tests and then rename the hasNotStarted method to hasStarted (to match the functionality of the newly negated return value). We then retest, move the method to the Season class, and retest again. In order to remove the confusion of the negated if-statement, we can swap the conditionals in the if-statement:

    public class GoalieStatistics { private final Season season; public GoalieStatistics(Season season) { this.season = season; } public double getGoalsAgainstAverage() { if (season.hasStarted()) { int totalGoalsAgainst = season.getTotalGoalsAgainst(); double totalMinutesPlayed = season.getTotalMinutesPlayed(); return (totalGoalsAgainst / totalMinutesPlayed) * 60; } else { return 0.0; } } public double getSavePercentage() { if (season.hasStarted()) { int totalGoalsAgainst = season.getTotalGoalsAgainst(); int totalSogAgainst = season.getTotalShotsOnGoalAgainst(); return ((double) totalSogAgainst - totalGoalsAgainst) / totalSogAgainst; } else { return 0.0; } } }

    While we have reached a point where our GoalieStatistics class is sufficiently simplified, if we look closely, the getGames() method of the Season class is no longer called. If we wished, we could make this method private or completely remove it. If the determination was made that this method was no longer needed (and not used in other locations in the system), removing it would greatly increase the encapsulation and cohesion of the Season class. This is just one example of how refactoring one class may result in simplifications in improvements in others.

    Note that the final code (after all refactorings above have been completed) can be found in this GitHub repository. Remember: This is only one way to refactor the GoalieStatistics class. Performing other refactorings may have led to another final set of classes. If we have done so, regardless of the specific sequence of refactorings we used, we have accomplished our mission.

    Conclusion

    Refactoring is one of the most fundamental skills that any developer can possess. Although it is often referred to in an informal manner, refactoring is a well-disciplined process requiring a goal, effective tests, and knowledge of the popular refactoring techniques. As we have seen in this article, no matter the state in which we find our code or the condition in which we left it, refactoring is an essential tool in paying down the principal on technical debt.


    Understanding SCAP NIST guidance and using SCAP tools to automate security | killexams.com real questions and Pass4sure dumps

    Many questions arise at the mention of the Security Content Automation Protocol (SCAP): What is it, how does it...

    work, and how can it be useful for an enterprise?

    This tip is intended to offer some background on what SCAP is and when and how an organization would benefit by relying on this protocol to enhance enterprise security.

    What is SCAP?According to SCAP NIST guidance (.pdf), SCAP -- pronounced as either "S-CAP" (ESS'-cap) or as each letter individually: S-C-A-P -- is:

    "…a suite of specifications that standardize the format and nomenclature by which security software products communicate software flaw and security configuration information."

    SCAP was developed to 1) organize, 2) express and 3) measure security information in standardized ways, thus providing an automated approach to maintaining the security of enterprise systems.

    More specifically, the NIST guidance lists three ways in which SCAP can be used to maintain the security of enterprise systems, including:

  • Automatically verifying the installation of patches;
  • Checking system security configuration settings, and;
  • Examining systems for signs of compromise.
  • The primary driver for SCAP's development is to help organizations that need to comply with the U.S. Federal Desktop Core Configuration (FDCC) and the United States Government Configuration Baseline (USGCB)1 initiative, which has evolved from the Federal Desktop Core Configuration mandate requirements. SCAP-validated scanning tools can be used to scan affected systems and provide reports regarding whether those systems are compliant with FDCC. This is a time-saver and will help organizations be more readily prepared for audits that require FDCC compliance.

    SCAP has two major elements:

  • First, it is a protocol. SCAP is a suite of four open specifications that standardize the format and nomenclature by which software communicates information about publically known software flaws and security configurations annotated with common identifiers and embedded in XML. Essentially this is a means of establishing some automated "on/off" switches when checking to see if a server or desktop is compliant with the standard in question. This is practical because the output is a standardized, non-proprietary format that can be used across different organizations. Each specification is known as an SCAP component. (NIST also gives more information on SCAP v1.0 components.)

  • Second, SCAP includes software flaw and security configuration standard reference data, also known as SCAP content. This reference data is provided by the National Vulnerability Database (NVD), which is managed by NIST and sponsored by the Department of Homeland Security (DHS). SCAP content is available on the NVD.
  • So, there's SCAP content (i.e., reference data) and SCAP components (i.e., security specifications). In order to make these work effectively, the SCAP authors have integrated the SCAP content and the SCAP components into SCAP-expressed checklists that use a standardized language to express what platform is being discussed (think Common Platform Enumeration (CPE)) and what security settings should be addressed (think Common Configuration Enumeration (CCE)). It would also be possible to use the checklists in a manual manner to set up the system in question. However, the number of settings is substantial, and, as such, an automated system like SCAP is preferred.

    The National Checklist Program (NCP) website is the repository for SCAP-expressed checklists.

    An example of a checklist page from this website for FDCC Windows XP is shown in Figure 1 below:

    Click to enlargeFigure 1: Checklist for FDCC Windows XP

    As a note, if you look at the Supporting Resources section of this page, there is a "Human Readable" or "prose" version of the settings that, when downloaded, provides a spreadsheet of the policy setting and name, the CCE reference, the registry setting, as well as the description and what the Federal Desktop Configuration should be for each policy (e.g., Disabled, Enabled, etc.). An example of the spreadsheet is shown in Figure 2.

    Click to enlargeFigure 2: Human Readable Version of FDCC Settings

    Each checklist is assigned a tier relative to its automation operability as pertains to the SCAP protocol. The tiers are designated as I - IV.

  • Tier I checklists are prose-based, i.e., narrative descriptions of how a person can manually alter a product's configuration.

  • Tier II checklists tend to list the recommended security settings in a proprietary, machine-readable format.

  • Tier III checklists use the SCAP protocol to document their recommended security settings in machine-readable, standardized SCAP formats.

  • Tier IV checklists include all the properties of the Tier III checklists. Additionally, they are considered production-ready and have been validated by NIST to ensure interoperability with SCAP-validated products. Tier IV checklists also demonstrate the ability to map low-level security settings to high-level security requirements as represented in such frameworks as SP 800-53 controls for FISMA. (Note: all the FDCC Checklists are tier IV in the National Vulnerability Database.)
  • Of note, organizations obligated to comply with federal mandate for SCAP are required to use the highest tier for their computer security automation. Also, there are plans for a Content Validation Program to allow vendors or anyone else to have their content posted to the NVD as Tier III or Tier IV content. However, a date for when this will be implemented is not currently available.

    How can an enterprise take advantage of SCAP?According to NIST, organizations interested in taking advantage of SCAP tools (.pdf) should adhere to the following recommendations as noted in the publication:

  • Use SCAP-expressed security configuration checklists to automatically improve and monitor a system's security. The SCAP-expressed checklists help automatically generate assessment and compliance evidence and can be downloaded from the National Checklist Program website referred to above. It is important to note, however, that the current version of SCAP does not fix or correct any discrepancies noted between actual configuration and the checklist –- that is anticipated for future SCAP tools and is already in some proprietary applications.

  • Take advantage of SCAP to demonstrate compliance with high-level security requirements that originate from mandates, standards and guidelines, such as FDCC. This also can help an agency be better prepared for a FISMA audit.

  • Use standardized SCAP enumerations, identifiers and product names such as Common Vulnerabilities and Exposures (CVE), Common Configuration Enumeration (CCE) and Common Platform Enumeration (CPE) nomenclature. In other words, use a common language so descriptions of vulnerabilities or exposures operate with the same terminology and reference the same MITRE CVE/CCE/CPE database. This allows organizations to better understand the system vulnerabilities and affected configurations when cross-talking between organizations and referring to security-related software flaws, security configuration issues and platforms.

  • Use SCAP for quantitative and repeatable vulnerability measurement and scoring through the combination of Common Vulnerability Scoring System (CVSS), CVE and CPE. Because SCAP does provide for some scoring during the analyses, you can use the scores to plot and establish trends, comparisons, etc.

  • Acquire and use SCAP-validated products. U.S. Federal agencies and those companies supporting U.S. government agencies must use SCAP-validated FDCC scanners for testing and assessing FDCC compliance.

    Of note, NIST has established both an SCAP product-validation program and a National Voluntary Laboratory Accreditation Program (NVLAP). These programs are coordinated to ensure the SCAP products are effectively tested and validated to conform to SCAP requirements. NIST maintains a list of accredited laboratories and currently validated products. A graphic showing some of the currently validated products is shown in Figure 3.

    Click to enlargeFigure 3: SCAP Validated Products (Examples)

  • Adopt SCAP and use its capabilities when developing software and/or security checklists, thus verifying the software provides the ability to assess underlying software configuration settings rather than relying on more costly manual checks or proprietary checking mechanisms.
  • In addition to the NIST SP 800-117 suggestions above, Karen Scarfone, a computer scientist and project manager with NIST, gave an excellent SCAP Overview Presentation (.pdf) that noted these common uses of SCAP:

  • Perform security configuration verification: Here you can use an SCAP-expressed checklist and compare it to a system's actual configuration. You can verify and audit a system before deployment using these checklists. Also, you can map individual system settings to high-level requirements such as FDCC, etc. using the checklist capability.

  • Check system for signs of security compromise: If you know the characteristics of the attacks, then you can check for altered files or the presence of a malicious service. For example, if you know the attack alters a specific .dll file, then you can check for any particular changes to the associated file.
  • BenefitsSCAP is moving along and is being implemented primarily due to federal mandate by the U.S. Office of Management and Budget. SCAP v1.0 is being adopted and products are being developed and tested for accreditation by NIST-approved laboratories. Version 1.1 was expected in late 2010 and candidate specifications for version 1.2 are already under review, per Karen Scarfone.

    What are the potential organizational benefits of using SCAP? Here are a few:

  • By using SCAP, you can increase automation and reduce manual effort to obtain assessment results, determine those corrective actions needed and thus provide substantial cost savings.

  • Because you are using the common language mandated by SCAP, the resulting XML-coded results will allow for easier communication of results across the other SCAP system users. Also, this will allow for easier comparison of issue sets between security organizations because the vulnerabilities are described using the same codex of CVSS, CVE and CPE.

  • By using SCAP-validated products, organizations are more likely to be better prepared for FDCC audits.

  • A primary benefit of SCAP content is the ability to make and modify your own checklists. You are not obligated to use only the FDCC /USGCB content unless you are under the government mandate.
  • I suspect we will all hear more about SCAP implementation in the future, and, with the newer versions of the protocol, there will be even more potential benefits for automated security.

    1The United States Government Configuration Baseline (USGCB) will be the successor to FDCC and will contain Win 7 as well as other operating system coverage like Red Hat, Solaris, etc… when their content is finalized. USGCB is expected to be incorporated into SCAP 1.1.

    About the author:Ernest N. Hayden (Ernie), CISSP, CEH,  is an experienced information security professional and technology executive , providing thought leadership for more than 10 years in the areas of information security, cybercrime/cyberwarfare, business continuity/disaster recovery planning, leadership, management and research.  Based in Seattle, Hayden holds the title of “managing principal – energy security” at Verizon’s Global Energy & Utilitiespractice, devoting much of his time to energy, utility and smart grid security on a global basis.  Prior to his current position at Verizon, Hayden held roles as an information security officer/manager at the Port of Seattle, Group Health Cooperative (Seattle), and Seattle City Light.    Hayden’s independent advice does not necessarily reflect all positions held by Verizon. Read more of Hayden’s expert adviceon his contributions to the Verizon Think Forward blog. Submit questions or comments for Ernie Hayden via email at editor@searchsecurity.com. 


    BI and CPM markets to get cozy in 2007 | killexams.com real questions and Pass4sure dumps

    Analysis For years analysts have asked suppliers "so which market are you in - BI or CPM?" Suppliers were somewhat coy about the answer. BI and CPM were perceived as distinct and separate markets.

    BI was the high margin cash cow and CPM was the question mark in the portfolio. Suppliers did not want to risk cash flow from the large $7bn BI market by gambling on the smaller $1bn CPM market. Hence, supplier commitment to a CPM marketing message or a BI marketing message vacillated depending on whether cash flow or new market penetration was the current key directive. But all has now changed.

    2006 was a great year for the CPM vendors and most registered more than 30 per cent revenue growth. Sniffing opportunity, supplier indecisiveness vapourised overnight. The answer to the "which market are you in?" question has been categorically answered: "BOTH".

    All the BI vendors are now firmly positioning themselves in the PM market. Business Objects will shortly unveil ambitious PM plans based on its acquisitions of ALG and SRC. Cognos boasts an innovation centre that delivers industry sector CPM solutions in Cognos Performance Blueprints. It now talks openly of "Cognos BI/PM solutions". SAP (with SEM) and Oracle (touting both its own CPM suite and the ex-PeopleSoft EPM suite) are pushing new BI and CPM solutions as part of their "enterprise solution stacks". SAS is leveraging its analytics market leadership position into enterprise PM products. Microsoft will launch its PerformancePoint PM suite in 2007.

    Paradoxically, Hyperion is moving in the opposite direction. Having led the CPM market from its inception it is now reverting to its BI roots and will present "Why buy BI from a performance management vendor?" at the upcoming Gartner BI Summit.

    So what's next for the BI/PM vendors? BI as a category will gradually disappear, as OLAP did before BI. "Content intelligence" will become the new category and the next holy grail. Already SAS, IBM and Cognos are offering enterprise search for unstructured data - emails, Word, PDF documents and the like.

    If the BI/PM vendors can combine their mastery of data intelligence (as in BI) with text intelligence (as in document management) to slice and dice, drill down, and aggregate data and text for any question a user might care to ask, then customers will really have something to rave about - a way of emulating the way we currently work with paper. The answers to "where did I put that file?", "what does this information and data mean for the business?" and "what is the context for these conclusions?" will become only a mouse click away. The adoption of SOA will make this easier. Structured and unstructured data management software tools will converge facilitated by SOA.

    Expect more acquisitions and new competitors in the Content Intelligence space. HP's recent acquisition of BI/PM provider Knightsbridge is ominous, as is Google's emerging presence in the corporates with its Google (enterprise) Search Appliance - British Airways is a reference customer.

    But what of the pure-play BI and PM vendors? In PM the likes of CorVu and Pilot will provide specialist niche market solutions to government, healthcare, and other markets where specialist non-standard PM solutions are required. BI 2.0 will emerge, but in a slightly different form than most commentators are predicting. High growth vendors such as QlikTech, Spotfire, and Tableau offer fast, flexible, highly interactive and visual solutions for knowledge workers. BI 2.0 will be for the scientific, technical, and professional knowledge workers - the rest of us will access more basic BI functionality and reporting as part of enterprise-wide performance management systems.

    Copyright © 2007, IT-Analysis.com

    Sponsored: Putting the Sec into DevSecOps



    Direct Download of over 5500 Certification Exams

    3COM [8 Certification Exam(s) ]
    AccessData [1 Certification Exam(s) ]
    ACFE [1 Certification Exam(s) ]
    ACI [3 Certification Exam(s) ]
    Acme-Packet [1 Certification Exam(s) ]
    ACSM [4 Certification Exam(s) ]
    ACT [1 Certification Exam(s) ]
    Admission-Tests [13 Certification Exam(s) ]
    ADOBE [93 Certification Exam(s) ]
    AFP [1 Certification Exam(s) ]
    AICPA [2 Certification Exam(s) ]
    AIIM [1 Certification Exam(s) ]
    Alcatel-Lucent [13 Certification Exam(s) ]
    Alfresco [1 Certification Exam(s) ]
    Altiris [3 Certification Exam(s) ]
    Amazon [2 Certification Exam(s) ]
    American-College [2 Certification Exam(s) ]
    Android [4 Certification Exam(s) ]
    APA [1 Certification Exam(s) ]
    APC [2 Certification Exam(s) ]
    APICS [2 Certification Exam(s) ]
    Apple [69 Certification Exam(s) ]
    AppSense [1 Certification Exam(s) ]
    APTUSC [1 Certification Exam(s) ]
    Arizona-Education [1 Certification Exam(s) ]
    ARM [1 Certification Exam(s) ]
    Aruba [6 Certification Exam(s) ]
    ASIS [2 Certification Exam(s) ]
    ASQ [3 Certification Exam(s) ]
    ASTQB [8 Certification Exam(s) ]
    Autodesk [2 Certification Exam(s) ]
    Avaya [96 Certification Exam(s) ]
    AXELOS [1 Certification Exam(s) ]
    Axis [1 Certification Exam(s) ]
    Banking [1 Certification Exam(s) ]
    BEA [5 Certification Exam(s) ]
    BICSI [2 Certification Exam(s) ]
    BlackBerry [17 Certification Exam(s) ]
    BlueCoat [2 Certification Exam(s) ]
    Brocade [4 Certification Exam(s) ]
    Business-Objects [11 Certification Exam(s) ]
    Business-Tests [4 Certification Exam(s) ]
    CA-Technologies [21 Certification Exam(s) ]
    Certification-Board [10 Certification Exam(s) ]
    Certiport [3 Certification Exam(s) ]
    CheckPoint [41 Certification Exam(s) ]
    CIDQ [1 Certification Exam(s) ]
    CIPS [4 Certification Exam(s) ]
    Cisco [318 Certification Exam(s) ]
    Citrix [47 Certification Exam(s) ]
    CIW [18 Certification Exam(s) ]
    Cloudera [10 Certification Exam(s) ]
    Cognos [19 Certification Exam(s) ]
    College-Board [2 Certification Exam(s) ]
    CompTIA [76 Certification Exam(s) ]
    ComputerAssociates [6 Certification Exam(s) ]
    Consultant [2 Certification Exam(s) ]
    Counselor [4 Certification Exam(s) ]
    CPP-Institue [2 Certification Exam(s) ]
    CPP-Institute [1 Certification Exam(s) ]
    CSP [1 Certification Exam(s) ]
    CWNA [1 Certification Exam(s) ]
    CWNP [13 Certification Exam(s) ]
    Dassault [2 Certification Exam(s) ]
    DELL [9 Certification Exam(s) ]
    DMI [1 Certification Exam(s) ]
    DRI [1 Certification Exam(s) ]
    ECCouncil [21 Certification Exam(s) ]
    ECDL [1 Certification Exam(s) ]
    EMC [129 Certification Exam(s) ]
    Enterasys [13 Certification Exam(s) ]
    Ericsson [5 Certification Exam(s) ]
    ESPA [1 Certification Exam(s) ]
    Esri [2 Certification Exam(s) ]
    ExamExpress [15 Certification Exam(s) ]
    Exin [40 Certification Exam(s) ]
    ExtremeNetworks [3 Certification Exam(s) ]
    F5-Networks [20 Certification Exam(s) ]
    FCTC [2 Certification Exam(s) ]
    Filemaker [9 Certification Exam(s) ]
    Financial [36 Certification Exam(s) ]
    Food [4 Certification Exam(s) ]
    Fortinet [12 Certification Exam(s) ]
    Foundry [6 Certification Exam(s) ]
    FSMTB [1 Certification Exam(s) ]
    Fujitsu [2 Certification Exam(s) ]
    GAQM [9 Certification Exam(s) ]
    Genesys [4 Certification Exam(s) ]
    GIAC [15 Certification Exam(s) ]
    Google [4 Certification Exam(s) ]
    GuidanceSoftware [2 Certification Exam(s) ]
    H3C [1 Certification Exam(s) ]
    HDI [9 Certification Exam(s) ]
    Healthcare [3 Certification Exam(s) ]
    HIPAA [2 Certification Exam(s) ]
    Hitachi [30 Certification Exam(s) ]
    Hortonworks [4 Certification Exam(s) ]
    Hospitality [2 Certification Exam(s) ]
    HP [746 Certification Exam(s) ]
    HR [4 Certification Exam(s) ]
    HRCI [1 Certification Exam(s) ]
    Huawei [21 Certification Exam(s) ]
    Hyperion [10 Certification Exam(s) ]
    IAAP [1 Certification Exam(s) ]
    IAHCSMM [1 Certification Exam(s) ]
    IBM [1530 Certification Exam(s) ]
    IBQH [1 Certification Exam(s) ]
    ICAI [1 Certification Exam(s) ]
    ICDL [6 Certification Exam(s) ]
    IEEE [1 Certification Exam(s) ]
    IELTS [1 Certification Exam(s) ]
    IFPUG [1 Certification Exam(s) ]
    IIA [3 Certification Exam(s) ]
    IIBA [2 Certification Exam(s) ]
    IISFA [1 Certification Exam(s) ]
    Intel [2 Certification Exam(s) ]
    IQN [1 Certification Exam(s) ]
    IRS [1 Certification Exam(s) ]
    ISA [1 Certification Exam(s) ]
    ISACA [4 Certification Exam(s) ]
    ISC2 [6 Certification Exam(s) ]
    ISEB [24 Certification Exam(s) ]
    Isilon [4 Certification Exam(s) ]
    ISM [6 Certification Exam(s) ]
    iSQI [7 Certification Exam(s) ]
    ITEC [1 Certification Exam(s) ]
    Juniper [63 Certification Exam(s) ]
    LEED [1 Certification Exam(s) ]
    Legato [5 Certification Exam(s) ]
    Liferay [1 Certification Exam(s) ]
    Logical-Operations [1 Certification Exam(s) ]
    Lotus [66 Certification Exam(s) ]
    LPI [24 Certification Exam(s) ]
    LSI [3 Certification Exam(s) ]
    Magento [3 Certification Exam(s) ]
    Maintenance [2 Certification Exam(s) ]
    McAfee [8 Certification Exam(s) ]
    McData [3 Certification Exam(s) ]
    Medical [69 Certification Exam(s) ]
    Microsoft [368 Certification Exam(s) ]
    Mile2 [2 Certification Exam(s) ]
    Military [1 Certification Exam(s) ]
    Misc [1 Certification Exam(s) ]
    Motorola [7 Certification Exam(s) ]
    mySQL [4 Certification Exam(s) ]
    NBSTSA [1 Certification Exam(s) ]
    NCEES [2 Certification Exam(s) ]
    NCIDQ [1 Certification Exam(s) ]
    NCLEX [2 Certification Exam(s) ]
    Network-General [12 Certification Exam(s) ]
    NetworkAppliance [36 Certification Exam(s) ]
    NI [1 Certification Exam(s) ]
    NIELIT [1 Certification Exam(s) ]
    Nokia [6 Certification Exam(s) ]
    Nortel [130 Certification Exam(s) ]
    Novell [37 Certification Exam(s) ]
    OMG [10 Certification Exam(s) ]
    Oracle [269 Certification Exam(s) ]
    P&C [2 Certification Exam(s) ]
    Palo-Alto [4 Certification Exam(s) ]
    PARCC [1 Certification Exam(s) ]
    PayPal [1 Certification Exam(s) ]
    Pegasystems [11 Certification Exam(s) ]
    PEOPLECERT [4 Certification Exam(s) ]
    PMI [15 Certification Exam(s) ]
    Polycom [2 Certification Exam(s) ]
    PostgreSQL-CE [1 Certification Exam(s) ]
    Prince2 [6 Certification Exam(s) ]
    PRMIA [1 Certification Exam(s) ]
    PsychCorp [1 Certification Exam(s) ]
    PTCB [2 Certification Exam(s) ]
    QAI [1 Certification Exam(s) ]
    QlikView [1 Certification Exam(s) ]
    Quality-Assurance [7 Certification Exam(s) ]
    RACC [1 Certification Exam(s) ]
    Real-Estate [1 Certification Exam(s) ]
    RedHat [8 Certification Exam(s) ]
    RES [5 Certification Exam(s) ]
    Riverbed [8 Certification Exam(s) ]
    RSA [15 Certification Exam(s) ]
    Sair [8 Certification Exam(s) ]
    Salesforce [5 Certification Exam(s) ]
    SANS [1 Certification Exam(s) ]
    SAP [98 Certification Exam(s) ]
    SASInstitute [15 Certification Exam(s) ]
    SAT [1 Certification Exam(s) ]
    SCO [10 Certification Exam(s) ]
    SCP [6 Certification Exam(s) ]
    SDI [3 Certification Exam(s) ]
    See-Beyond [1 Certification Exam(s) ]
    Siemens [1 Certification Exam(s) ]
    Snia [7 Certification Exam(s) ]
    SOA [15 Certification Exam(s) ]
    Social-Work-Board [4 Certification Exam(s) ]
    SpringSource [1 Certification Exam(s) ]
    SUN [63 Certification Exam(s) ]
    SUSE [1 Certification Exam(s) ]
    Sybase [17 Certification Exam(s) ]
    Symantec [134 Certification Exam(s) ]
    Teacher-Certification [4 Certification Exam(s) ]
    The-Open-Group [8 Certification Exam(s) ]
    TIA [3 Certification Exam(s) ]
    Tibco [18 Certification Exam(s) ]
    Trainers [3 Certification Exam(s) ]
    Trend [1 Certification Exam(s) ]
    TruSecure [1 Certification Exam(s) ]
    USMLE [1 Certification Exam(s) ]
    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
    Veritas [33 Certification Exam(s) ]
    Vmware [58 Certification Exam(s) ]
    Wonderlic [2 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]





    References :


    Dropmark : http://killexams.dropmark.com/367904/11734959
    Wordpress : http://wp.me/p7SJ6L-1lK
    Issu : https://issuu.com/trutrainers/docs/000-m90
    Dropmark-Text : http://killexams.dropmark.com/367904/12296315
    Blogspot : http://killexamsbraindump.blogspot.com/2017/11/dont-miss-these-ibm-000-m90-dumps.html
    RSS Feed : http://feeds.feedburner.com/LookAtThese000-m90RealQuestionAndAnswers
    Box.net : https://app.box.com/s/ldw8toc7zmblkpfq9tsgiyq7g39bsevt
    publitas.com : https://view.publitas.com/trutrainers-inc/review-000-m90-real-question-and-answers-before-you-take-test
    zoho.com : https://docs.zoho.com/file/60eu671f668dc85eb43588dcaf3aff31fdc24






    Back to Main Page


    References:


    Pass4sure Certification Exam Questions and Answers - Founco.com
    Killexams Exam Study Notes, study guides - Founco.com
    Pass4sure Certification Exam Questions and Answers - st.edu
    Killexams Exam Study Notes, study guides - st.edu
    Pass4sure Certification Exam Questions and Answers - www.fuducuk.com
    Killexams Exam Study Notes, study guides - www.fuducuk.com
    Pass4sure Certification Exam Questions and Answers
    Killexams Exam Study Notes, study guides
    Pass4sure Certification Exam Questions and Answers and Study Notes
    Killexams Exam Study Notes, study guides, QA
    Pass4sure Exam Study Notes
    Pass4sure Certification Exam Study Notes
    Pass4sure Certification Exam Study Notes
    Pass4sure Certification Exam Study Notes
    Download Hottest Pass4sure Certification Exams - CSCPK
    Here you will find Real Exam Questions and Answers of every exam - dinhvihaiphong.net
    Study notes to cover complete exam syllabus - Killexams.com
    Killexams Exams Download Links - nrnireland.org
    Killexams Study Guides and Exam Simulator - simepe.com.br
    Killexams Study Guides and Exam Simulator - skinlove.nl
    Pass4Sure Study Guides and Exam Simulator - marinedubai.com/
    www.pass4surez.com, (c) 2017-2018