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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

01/23
2014

Using Big Data Analytics To Unlock the Mysteries of the Universe

Scientists learned that the universe continues to expand in 1929 when astronomer Edwin Hubble discovered that distant galaxies are moving away from us. Today, scientists continue to make remarkable galactic discoveries.

shutterstock 63555622 300x247 Using Big Data Analytics To Unlock the Mysteries of the UniverseFor instance, a team of researchers working with the Baryon Oscillation Spectroscopic Survey (BOSS) have been able to determine the distances to galaxies more than 6 billion light years away to within an accuracy of 1%.

As astronomers and other scientists continue to push the boundaries of space exploration, big data analytics can help researchers gain deeper insights about the origins, makeup, and future of the universe.

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01/22
2014

Data Visualization: A Super Time Saver

Whether you’re a data analyst, a product manager, or a member of the C-suite, when it comes to making sense of your company’s data, Excel-based bar charts aren’t terribly compelling.

shutterstock 133973507 300x225 Data Visualization: A Super Time SaverIf you rely on Excel reports to evaluate current customer trends, operating conditions, or business performance, they simply don’t provide much insight into why something happened (e.g., customer satisfaction dropped five points in the Pacific Northwest last month).

One-Dimensional Reports Are So Last Year

While boring Excel spreadsheets do little to stoke the imagination, there are other shortcomings to using stale BI reports. Namely, they’re a drain on productivity.

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01/21
2014

Big Data: Making the Customer Contact Center a Competitive Weapon

Contact centers have long been at the core of data collection about customers. But the added influx of information from big data now means the contact center is poised to be a strategic differentiator for firms that can successfully corral and analyze new data sources.

shutterstock 128810074 300x298 Big Data: Making the Customer Contact Center a Competitive WeaponThat’s the assertion of a new research report from Aberdeen Group that notes that new channels like social media platforms, online user groups and mobile devices have vastly accelerated the growth of customer data.

“This rapid growth in customer data, captured though myriad touch-points, presents unique challenges and opportunities,” the report notes. “It results in struggles within customer data management efforts, as contact centers will need to learn to seamlessly capture and utilize large sets of structured and unstructured data.”

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01/20
2014

Data Analytics To Evaluate the Environmental Impact of ‘Fracking’

The US is poised to surpass Saudi Arabia and Russia to become the world’s largest oil producer by 2016, according to the International Energy Agency.

images4 150x150 Data Analytics To Evaluate the Environmental Impact of FrackingMeanwhile, natural gas production in the US has risen tenfold since 2006, according to the U.S. Energy Information Administration.

One of the chief reasons the US has been able to achieve such dramatic gains in the exploration and recovery of both shale oil and natural gas deposits is due to the technique known as hydraulic fracturing (“fracking”).

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01/16
2014

How Manufacturers Can Use Analytics to ID Transformative Technologies

Manufacturers continue to invest in technology that can accelerate output while driving heightened productivity. Take D’Addario, a Farmingdale, N.Y.-based maker of musical strings for instruments such as cellos and guitars, for example.

images2 300x164 How Manufacturers Can Use Analytics to ID Transformative TechnologiesD’Addario operates a 110,000-square-foot lean manufacturing facility that relies on robotics, software, and other advanced technologies to help it increase productivity, operate more efficiently, and compete more effectively in the global marketplace.

Increasingly, manufacturers are turning to emerging technologies such as 3D printing, which can take a digital file and turn it into a physical object. But the technology, which has been around for 30 years is still nonetheless very much in its infancy.

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01/15
2014

Firms Step Up Big Data Initiatives, Spending

Under siege from growing amounts of data streaming in from multiple different sources across the enterprise, companies are stepping up their efforts to gain insight and value from big data projects.

shutterstock 167198123 300x300 Firms Step Up Big Data Initiatives, SpendingThat’s according to a new research report from IDG that finds that 70% of enterprises have either deployed or are planning to deploy big data projects and programs. Furthermore, companies on average plan to spend $8 million on big data projects this year, according to the report.

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01/14
2014

Using Predictive Analytics To Become a Real-Time Social Retailer

Consumers rely heavily on their social media connections to drive their purchasing decisions, from the brand and product reviews they glean from complete strangers to feedback that’s shared by their friends and families.

shutterstock 110754098 300x225 Using Predictive Analytics To Become a Real Time Social Retailer Indeed, 72% of consumers trust online reviews as much as personal recommendations, according to Search Engine Land.

Meanwhile, the messaging that companies generate in social media channels about their products also carries a high degree of influence.

Some 78% of consumers say that posts made by companies in social channels influence their buying decisions, according to a study conducted by the CMO Council and Lithium.

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01/13
2014

The Merits of a Chief (Big) Data Officer

Do enterprise companies need someone to fill the role of a chief data officer (CDO)? Given the complexity of gathering, storing, managing, and securing data, an argument could be made that some type of data overseer is needed for larger companies.

Unknown 150x150 The Merits of a Chief (Big) Data OfficerIn addition to the various data streams for companies to consider using, it’s also important for someone within the IT organization to ensure the integrity of the data being used. So from a data integrity standpoint and in the absence of a chief data officer, who is ultimately responsible if customer and other data are inaccurate? The CIO? The CTO?

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01/09
2014

Marketers: Check Your Big Data Blind Spots

Marketers today are feeling the heat to show results while cutting costs, but they have a new weapon to drive results and demonstrate value to senior management – big data.

Marketingsign 280x280 Marketers: Check Your Big Data Blind SpotsThere is more information generated by and about consumers today than ever before, but with that comes an increasing risk of marketers making incorrect measurements or misinterpreting data analysis.

That’s the assertion of a trio of analysts from McKinsey & Co., in a recent Harvard Business Review blog post.

Marketers can increase ROI by 15% to 20% now that analytics techniques are available to corral big data and make marketing a more precise science, according to the post.

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01/08
2014

Big Data Analytics to Get Smarter with Smart Energy Initiatives

Energy providers, real estate management companies, and other organizations looking to minimize their energy consumption and spending continue to invest in smart energy technologies at a brisk pace.

smartcity 300x292 Big Data Analytics to Get Smarter with Smart Energy InitiativesSpending in the global smart thermostat market alone is expected to jump from about $100 million today to $1.4 billion by 2020, according to a recent study by Navigant Research.

Smart energy technologies can generate a number of useful benefits for companies, including impressive cost savings that can be achieved through more efficient energy utilization as well as obtaining more accurate bills based on actual energy usage and not estimates.

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