Hotel cancellations can cause issues for many businesses in the industry. Not only is there the lost revenue as a result of the customer cancelling, but this can also cause difficulty in coordinating bookings and adjusting revenue management practices.
Data analytics can help to overcome this issue, in terms of identifying the customers who are most likely to cancel – allowing a hotel chain to adjust its marketing strategy accordingly.
To investigate how machine learning can…Continue
Added by Michael Grogan on July 2, 2019 at 3:00am — No Comments
Imagine you’re completing a mission in a computer game. Maybe you’re going through a military depot to find a secret weapon. You get points for the right actions (killing an enemy) and lose them for the wrong ones (falling into a pit or getting hit). If you’re playing on high difficulty, you might not conclude this task in just one attempt. Try after try, you learn which consecutive actions are needed to get out of a location safe, armed, and equipped with bonuses like extra health points or…Continue
Added by Kateryna Lytvynova on April 18, 2019 at 2:00am — No Comments
Summary: Whether you’re a data scientist building an implementation case to present to executives or a non-data scientist leader trying to figure this out there’s a need for a much broader framework of strategic thinking around how to capture the value of AI/ML.
Added by William Vorhies on March 25, 2019 at 8:30am — No Comments
BigQuery is Google’s serverless, highly scalable, enterprise data warehouse designed to make all your data analysts productive at an unmatched price-performance. Because there is no infrastructure to manage, you can focus on analyzing data to find meaningful insights using familiar SQL without the need for a database administrator.
Analyze all your data by…Continue
Added by satyajit maitra on March 22, 2019 at 3:49am — No Comments
New home construction plays a significant role in housing economy, while simultaneously impacting other sectors such as timber, furniture and home appliances. New house sales is also an important indicator of country’s overall economic health and direction. In the last 50 years there has been few significant bumps and turning points in this sector that shaped the trajectory of the overall economy. Here I review the…Continue
Added by Mab Alam on January 25, 2019 at 8:15pm — No Comments
Summary: Digital Decisioning Platforms is a new segment identified by Forrester that marries Business Process Automation, Business Rules Management, and Advanced Analytics. For platform developers it’s a new way to slice the market. For users it eases integration of predictive models into the production environment.
Added by William Vorhies on October 30, 2018 at 8:30am — No Comments
Added by Matthew Gierc on October 4, 2018 at 7:00am — No Comments
Data has become a cargo cult. Collect more data, calculate more metrics, hire more analysts, let them figure out what this is all for – and you’re considered to be data driven. I've had it up to here while consulting startups over the past three years and helping them to define business…Continue
Added by Luba Belokon on June 8, 2018 at 1:00am — No Comments
In a previous blog I wrote about 6 potential applications of time series data. To recap, they are the following:
Here I am focusing on outlier…Continue
Added by Mab Alam on June 1, 2018 at 2:00pm — No Comments
A time series is a sequence of data points recorded at specific time points - most often in regular time intervals (seconds, hours, days, months etc.). Every organization generates a high volume of data every single day – be it sales figure, revenue, traffic, or operating cost. Time series data mining can generate valuable information for long-term business decisions, yet they are underutilized in most organizations. Below is a list of few possible ways to…Continue
Added by Mab Alam on May 27, 2018 at 9:00pm — No Comments
Sometimes when dealing with performance metrics, there are contradictory signals. For instance, although both are desirable, it is common for efficiency and efficacy to be in opposition. An agent in a call centre can handle lots of calls while at the same time getting few sales; this is especially true if the agent’s main objective is to do lots of calls. This is a highly efficient person albeit unsuccessful in terms of expanding the business. Conversely, another agent by spending a…Continue
Added by Don Philip Faithful on May 6, 2018 at 3:30am — No Comments
The following simulation is based on a presentation that I attended in the 1990s. I was an investment junkie back then. I sat down, and I listening to people speak about their ideas on making money - on television and sometimes live. The presenter in this case was trying to explain that investment success is sometimes a matter of chance. He had people in the audience stand up. He asked them to guess heads or tails. Those that were correct continued to the next round - to guess again -…Continue
Many of “out-of-the-box” analytics solutions come with automatically defined user sessions. It’s good to start with, but as your company grows, you’ll want to have your own session definitions based on your event data. Analyzing user sessions with SQL gives you flexibility and full control over how metrics are defined for your unique business.
The session is usually defined as a group…
Added by Luba Belokon on March 27, 2018 at 1:00am — No Comments
The term “technical analysis” usually refers to the study of stock prices. A technical analyst might use real-time or closing prices of stocks to predict future prices. This is an interesting concept because of what is normally excluded from the analysis - namely, everything except prices. Given that the approach doesn’t necessarily consider the health or profitability of the underlying companies, a purely technical approach seems to offer guidance that is disconnected from reality. Yet…Continue
Added by Don Philip Faithful on March 17, 2018 at 3:00am — No Comments
Quite recently we’ve built event analytics for our team and thought to share this experience with you in this post .
Many of “out-of-the-box” analytics solutions come with automatically defined user sessions. It’s good to start with, but as your company grows, you’ll want to have your own session definitions based on your event data. Analyzing user…Continue
Added by Luba Belokon on February 8, 2018 at 7:30am — No Comments
The Statsbot team estimated LTV 592 times for different clients and business models.
Customer lifetime value, or LTV, is the amount of money that a customer will spend with your business in their “lifetime,” or at least, in the portion of it that they spend in a relationship with you. It’s an important indicator of how much you can spend on acquiring new customers. For example, your customer acquisition cost (CAC) is $150, and LTV is…Continue
Added by Luba Belokon on February 1, 2018 at 8:30am — No Comments
I once posted about making use of narrative objects. In this blog, I will be discussing an algorithm that supports the creation of these objects. I call it my “Infereferencing Algorithm”: this term is most easily pronounced with a slight pause between “infer” and “referencing.” I consider this a useful and widely applicable algorithm although I don’t believe it operates well in a relational database environment. Instead, I use “mass data files”: these contain unstructured lumps of…Continue
Added by Don Philip Faithful on December 31, 2017 at 8:00am — No Comments
You’ve perfected your CV, got great experience under your belt, maybe a PhD and can wrangle data amongst the finest but just how prepared are you for your next interview?
Just the thought of the face-to-face interview stage is enough to strike fear into the bravest of us. Here are a few things to keep in mind and stave off the sweaty palm syndrome. (Bonus tip – if you are prone to perspire through the palm, remember to use a…Continue
Added by Matt Reaney on December 6, 2017 at 2:00am — No Comments
Many of us trust our gut feeling implicitly.
We have all been there when something didn’t feel right but done it anyway. There was nothing obvious to suggest that it was a bad idea. Yet, when it turns out to be a disaster we wonder why we didn’t listen to that gentle little voice: “don’t do it.”
It seems that our gut feel is some magical force, but actually, it is an accumulation of thousands of tiny past moments, all informing our current situation. You could…Continue
Added by Matt Reaney on November 14, 2017 at 2:30am — No Comments