Business Intelligence (BI) tools have long been valuable in helping deliver a view into the business to aid decision-making. The approach BI tools take is fundamentally based on a fairly static knowledge of your data. In other words, you have to know the questions you want answered before you engage… Read More →
Typically, job specifications for data scientists list a graduate or post-graduate degree as a key requirement. Yet two of the most acclaimed data scientists—Nate Silver and former Billy Beane/Moneyball assistant Paul DePodesta—each lack a Ph.D., according to a recent Forbes article on the topic. In most cases, prospective employers look… Read More →
All organizations are seeking innovation in one way or another – but, unearthing innovative new products, revenue streams, or customer sources requires insight, according to two professors from Northwestern University’s Kellogg School of Management in a recent Harvard Business Review blog post. They define insight as “an imaginative understanding of… Read More →
How long is the shelf life of your product? Analyzing the Internet of Things (IOT) can help your company find out. Your business can even figure out how long consumers will clamor for your product before you launch it.
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. Meanwhile, natural gas production in the US has risen tenfold since 2006, according to the U.S. Energy Information Administration.
When it comes to what consumers want for the holidays, big data and social analytics can help retailers uncover “human truths to help brands make their marks in the world.” That’s according to McCann Truth Central’s newest global consumer research study, “The Truth About Holiday Shopping,” which reveals a new… Read More →
One of the most daunting challenges for companies seeking to bolster business decisions by tapping the power of big data with analytics is managing the huge swell of unstructured data including comments on social networks, video files, images and critical documents like call center customer comments. This unstructured data –… Read More →
Energy utilities, including transmission and distribution providers, are beginning to generate massive volumes of data from the billions of dollars being invested in smart grid efforts. And analytics can help energy companies ensure the operational success of smart grids by enabling power companies to more effectively manage the streams of… Read More →
Tampa International Airport is playing its own version of Moneyball – and winning – as it has turned to data analytics to help it compete more effectively against larger airports in Miami and Orlando. The airport uses analytics and data mining to uncover evidence that a particular airline could make money… Read More →
One of the greatest strengths of data mining is its ability to provide companies with revealing and compelling insights into the needs and preferences of their customers. This includes information that customers share about themselves in social media channels, in contact center interactions, and through their online behaviors. Through the… Read More →