Variable reduction is a crucial step for accelerating model building without losing the potential predictive power of the data. With the advent of Big Data and sophisticated data mining techniques, the number of variables encountered is often tremendous making variable selection or dimension reduction techniques imperative to produce models with acceptable accuracy and generalization. The temptation to build an ecological model using all available information (i.e., all variables) is hard to… Continue
Added by Valiance Solutions on April 21, 2017 at 9:20pm —
In today’s digital age where customers are as likely to buy a product from an eCommerce website as from a brick and mortar store, delivering a seamless and value-adding shopping experience has become more important than ever before. The multiple shopping channels available to customers and the competition posed by other retailers have made…
Added by Ronald van Loon on April 12, 2017 at 11:30am —
According to the prediction of IDC Futurescapes, Two-thirds of Global 2000 Enterprises CEOs will center their corporate strategy on digital transformation. A major part of the strategy should include machine-learning (ML) solutions. The implementation of these solutions could change how these enterprises view customer value and internal… Continue
Added by Ronald van Loon on April 11, 2017 at 2:00am —
Business Intelligence (BI) software is a valuable investment. May be you are thinking: “Why we have requirement of Business Intelligence?”
To prove this expenditure, Data scientist & decision makers necessity to look at big picture benefit.…
Added by Priyanka Jain on April 11, 2017 at 1:30am —
Remember when you were teenager and wanted to go on vacation with parents-you were asked to go to travel agent and get all the printed brochures of exotic locations?
Then came the dot.com wave and online booking sites like Expedia, Travelocity, Makemytrip… Continue
Added by Sandeep Raut on April 8, 2017 at 6:30am —
Recently a colleague asked me to help her with a data problem, that seemed very straightforward at a glance. Continue
She had purchased a small set of data from the chamber of commerce (Kamer van Koophandel: KvK) that contained roughly 50k small sized companies (5–20FTE), which can be hard to find online.
She noticed that many of those companies share the same address,…
Added by Tom Lous on April 4, 2017 at 11:00pm —
2018 is likely to be a game-changing year for the banking and finance sector. As the General Data Protection Regulation (GDPR) and Revised Payment Service Directive (PSD2) are implemented across the European Union, the exclusive control of banks and other financial institutions on financial data of their customers is about to end. These new… Continue
Added by Ronald van Loon on March 30, 2017 at 2:00am —
“A company that ceases to grow will die;” a useful albeit slightly morbid mantra for any business trying to make it out there in the big wide world. How can business avoid such an outcome? One answer is by staying relevant, no mean feat in our rapidly changing environment.
Staying relevant is a question of recognising what your customers want and having the ability to deliver that requirement as quickly as possible. Easier said than done, however, with the enormous… Continue
Added by Amy Flippant on March 14, 2017 at 8:03am —
What is data virtualization? Here’s an analogy using a concept that we can all relate to: a supermarket.
Picture the scene: Shopping list in one hand, shopping basket in the other, you’re ready to tackle your weekly shopping in your local supermarket. Your items range from fruit and vegetables to washing detergent, perhaps with some free-range eggs thrown in for good measure. Quite the eclectic mix, but you know that you’ll be able to find all you need under one… Continue
Added by Amy Flippant on March 9, 2017 at 12:30am —
One of the best parts of my job is talking to a wide variety of customers across a wide variety of industries at a wide variety of different points on their big data journey. I’ve recently had several customer engagements where the client’s top business initiative is creating a Customer 360 View. Danger, Will Robinson!! I think the Customer 360 View business initiative is both dangerous and distracting; it is dangerous because it gives organizations a false goal to pursue, and it… Continue
Added by Bill Schmarzo on March 8, 2017 at 2:00pm —
Business Analytics and Business Intelligence are the most-heard terms in the global corporate environment lately. It refers to utilizing advanced technological tools to gain business insights and enhance performance. The predictive analytic methods with Big Data are becoming so prevalent in every industry.
Big Data rules
Big Data is believed to be here to stay. The hype we see about it is not temporary. The fundamental technological change it applies to the universal business… Continue
Added by Barrack.diego on March 1, 2017 at 9:00pm —
Managing your relationships with customers, suppliers, and partners and constantly improving their experience is a proven way to build a sustainable and profitable business, and contrary to popular assumption, this doesn’t apply to B2C businesses only. With… Continue
Added by Ronald van Loon on February 27, 2017 at 8:00am —
I love the simplicity of the data science concepts as taught by the book “Moneyball.” Everyone wants to jump right into the real meaty, highly technical data science books. But I recommend to my students to start with the book “Moneyball.” The book does a great job of making the power of data science come to life (and the movie doesn’t count, as my wife saw it and “Brad Pitt is so cute!” was her only takeaway…ugh). One of my favorite lessons out of the book is the…
Added by Bill Schmarzo on February 9, 2017 at 5:30am —
I recently read an MIT Sloan Management Review article by Clayton Christensen’s recent book titled “The Hard Truth About Business Model Innovations.” While the article is full of great observations about business model transformation, the most important motivation for business model transformation is found at the end:
“..our understanding of the business model journey allows us to see that, over the long term, the greatest innovation risk a company can take is to decide not… Continue
Added by Bill Schmarzo on February 7, 2017 at 4:30am —
In very simple terms, Business model is how you plan to make money from your business. Continue
A refined version is how you create and deliver value to customers. Your strategy tells you where you want to go and the business model tells you how you are going to do it.
In this time of industry 4.0 with Digital Transformation, businesses are getting disrupted faster than they get established. We all know what Apple did for music, Uber did for taxis and Airbnb did for…
Added by Sandeep Raut on February 4, 2017 at 7:00am —
Businesses today need to do more than merely acknowledge big data. They need to embrace data and analytics and make them an integral part of their company. Of course, this will require building a quality team of data scientists to handle the data and analytics for the company. Choosing the right members for the team can be difficult,…
Added by Ronald van Loon on February 3, 2017 at 6:00am —
Journey Science, being derived from connected data from different customer activities, has become pivotal for the telecommunications industry, providing the means to drastically improve the customer experience and retention. It has the ability to link together scattered pieces of data, and enhance a telco business’s objectives. Siloed…
Added by Ronald van Loon on February 1, 2017 at 7:30am —
When I first heard the term Big Data few years ago, I didn’t think much of it. Soon after, Big Data started appearing in many of my conversations with many of my tech friends. So I started asking a very simple question 'What is Big Data?'. I kept asking that question to various folks and I did not get the same answer twice from any number of people. ‘Oh, it’s lot of data’. ‘It’s variety of data’. ‘It’s how fast the data is piling up’. Really? I thought to myself but was… Continue
Added by Ramesh Dontha on January 9, 2017 at 1:00pm —
In five short years the world of analytics has changed immeasurably. Five years ago Hadoop was reaching the peak of the hype cycle and it acted as a wake-up call to businesses that perhaps there is value in their data.
This evolved more recently into big data analytics. Although Hadoop opened a door to big data, it wasn’t actually the right tool for what most businesses needed – fast analytics, interactive experimentation with data and exploratory analysis of… Continue
Added by Aaron Auld on December 7, 2016 at 8:00am —
As the reach of social data expands by every passing day, more and more people are posting their views, thoughts and ideas over a broad array of interconnected social networks. In the era of the booming social media it is critical for businesses to sieve through social data - data generated through the multiple social media channels to gather the actionable insights.
Garnering Social Data Intelligence
Simply mapping social data to figure out data… Continue
Added by Sherna Jay on November 17, 2016 at 9:53pm —