These days many companies have embarked on Digital Transformation. Unfortunately, not many have found good success. A recent study in Forbes, says over 84% of Digital Transformation initiatives in business enterprises fail. While lot of articles talk of Digital Transformation including reasons for the poor failure rate, critical success factors, etc.., here is my take on what is NOT Digital Transformation. Here are the top 5 aspects (based on what I have seen) where the means have taken more…

Machine Learning / Deep Learning models can be used in different ways to do predictions. My preferred way is to deploy an analytic model directly into a stream processing application (like Kafka Streams or KSQL). You could e.g. use the …

Many predict, and warn, that the Artificial Intelligence (AI) Revolution will change the world – and possibly the very essence of mankind.  But society-changing revolutions are not new.  History is full of such revolutions.  What can we learn from those previous revolutions that might provide an indication as to how this AI revolution might play out?

We will examine two other revolutions – the Industrial Revolution and the Information Revolution…

C-3PO and R2-D2 are an odd couple in the Star Wars universe. C-3PO is a cowardly droid who obeys pre-defined protocols and routine tasks, while R2-D2 is a curious and adventurous robot who learns from previous problems, uses logical thinking and larger concepts to solve new problems. But together they do things they could not do alone.

Similarly, RPA…

Sales Forecasting: Science or Instinct?

Recently, we had talked about marketing automation, a digital transformation in the field that involved both artificial intelligence and machine learning. Even Natural Language Processing (NLP) has come a long way, enough to change the content marketing game. But while marketing has shifted to a digital…

During my first project in McKinsey in 2011, I served the CEO of a bank regarding his small business strategy. I wanted to run a linear regression on the bank's data but my boss told me: "Don't do it. They don't understand statistics". (We did not use Machine Learning but, 7 years down the road, I still believe we developed the right…

Technology is known to shift landscapes, even change the game. We saw that when the internet exploded in scale and popularity, as computers became smarter, and the world goes through the digital transformation. An easy example is in traditional marketing, which now borders on the irrelevant, unable to hold a candle to its more modern counterparts.

Email,…

As an Applied Data Scientist at Civis, I implemented the latest data science research to solve real-world problems. We recently worked with a global tool manufacturing company to reduce churn among their most loyal customers. A newly proposed tool, called SHAP (SHapley Additive ex…

Enterprises are learning fast about the relevance and use of AI and Cognitive Computing platforms. Before adopting AI and Cognitive Computing platforms, enterprises must focus on designing the right strategy for their business. A data-driven strategy is very important to derive the maximum benefit from the platform that will help to interpret data and provide…

Developed at MIT’s Sloan School of Management in 1950s system dynamics is a methodological approach to model the behavior of complex systems, where change in one component leads to change in others (like the dominos effect with feedback loops added). This approach is widely applied in industries such as healthcare, disease research, public transportation, business management and revenue forecasting. The most famous application of system dynamics probably is in…

New reforms under the General Data Protection Regulation (GDPR) started as an attempt to standardize data protection regulations in 2012. The European Union intends to make Europe “fit for the digital age.” It took four years to finalize the agreements and…

1 Introduction

Credit risk or credit default indicates the probability of non-repayment of bank financial services that have been given to the customers. Credit risk has always been an extensively studied area in bank lending decisions. Credit risk plays a crucial role for banks and financial institutions, especially for commercial banks and it is always difficult to interpret and manage. Due to the advancements in technology, banks have managed to reduce the costs, in order to…

What a weird question. That’s what you would have thought after reading the headline. Perhaps you thought the word “NOT” was accidental.

Hmm, for past few years many of us have come across articles like

• “Top 10 Machine Learning Algorithms every Data Scientist …

Many a blogs and articles are written on how to become a Data Scientist. The list normally goes like this

• Study descriptive statistics, hypothesis testing, probability
• Learn types of Machine learning algorithms – Supervised, Unsupervised
• Learn Python, R, SAS, SQL
• Apply machine learning techniques using Python, R, SAS
• Learn Data Visualization

While there is nothing wrong in the path illustrated above, it is not the…

Analytics has grown step by step from descriptive analytics, predictive analytics and prescriptive analytics. At every stage when the organization gets matured, new opportunities are provided to the organization to make use of the data or monetize the data within the organization. With Big data technologies making progress one side and AI technologies progressing on the other side, convergence of these two technologies presents new opportunities for the organization to improve productivity,…

In today’s world, a successful organization has to achieve data and analytics competencies to stay…

Contents

1. Introduction

2. The Four Pillars of Success        in Analytics

3. Analytics…