Much of the focus on the potential for big data has centered around using analytics to boost sales and marketing. While those areas are indeed ripe for innovation, companies can tap analytics for a slew of other novel improvements to outperform competitors, including identifying new profit models, designing new products… Read More →
Many IT and business leaders recognize the operational and business value that the use of big data and analytics can deliver to their organizations. Still, executives often wonder how effectively their organizations are utilizing big data compared to other companies and whether other businesses are encountering similar challenges gathering and… Read More →
As manufacturers endeavor to create products for the global market, manufacturing processes are becoming increasingly complex and factory equipment more costly. Computer-integrated manufacturing systems are rapidly being equipped with sensors, controllers, and other embedded devices that are able to manage production, equipment maintenance, product quality, inventory and supply chain operations.
While companies may be accustomed to formulating analytics questions revolving around past performance, to get the most of out of big data, queries should link tactical and strategic-level objectives. That’s the advice that John Lucker, principal and global advanced analytics modeling leader at Deloitte, points out in a recent TechRepublic… Read More →
The flood of information about consumer behavior online can be a gold mine for marketing. Instead of launching mass media campaigns aimed at a broad demographic of people, it’s now possible to tailor an offer to a single consumer based upon his immediate needs.
Given that most companies are doubling the amount of data stored every two years, the expense and risk of tapping that data to uncover actionable business insights can be daunting to some firms. But, those companies that successfully adopt data-smart cultures can reap returns to the bottom line that trump… Read More →
The effective use of data has emerged from its traditional home in IT to become the basis of competition. Moreover, evolving data analysis means that every part of an organization can now rely on data-driven decision-making to drive operations, according to an article by Ernst & Young.
One of the greatest fears for manufacturing executives is the threat of a product glitch. Depending on the size and scope of a problem and the number of products or consumers affected, product recalls can mean billions of dollars in recall costs for manufacturers, not to mention legal and medical… Read More →
A common mantra for many analysts is that they don’t get to spend enough time analyzing data to extract vital insights because they simply spend too much time preparing data for analysis.
By Ian Cook (@ianmcook), Data Scientist, TIBCO Spotfire The world is swimming in data. A vast, open sea of information is everywhere, saturating our everyday lives and shaping the way we make educated business decisions. Now that this year’s Shark Week has just wrapped up, we chomped at the opportunity to take a… Read More →