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 →
The cacophony of hype surrounding big data is becoming deafening. As with all technology that gets caught in top billing as the next big thing, mining big data to unearth its secrets won’t be the silver bullet for every company for every problem today or even tomorrow. But when big… Read More →
The paradigm shift from businesses struggling to pinpoint what data to store to what they can do with the infusion of big data is in full swing. Transactional data is still the foundation for many businesses trying to mine data for insights, but big data has opened an entirely new… Read More →