My favorite quote on Big Data is by Dan Ariely who says "Big Data is like teenage sex, everyone talks about it, no one really knows how to do it, everyone thinks everyone else is doing it, so everyone claims that they are doing it..."
Dan Ariely's views aside, Gartner defines Big Data as " high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.”
In an earlier blog post on Making the Business Case for Text Analytics , I had spoken of the importance of Social Media Analytics and specifically Text Analytics within the context of Social Media.for big and small business. Social Media plays a critical role in today's world in understanding, measuring and influencing the real time perception of your company and/or…Continue
Added by Mark Sharma on June 15, 2015 at 7:05pm — No Comments
The key to making a business case for any Analytics initiative, not just text analytics, is to identify specific business problems and pain points and use analytics to address them, instead of merely seeking insights.
The top business case for Text Analytics…Continue
Today, an increasing number of institutional clients are looking for solutions, strategies and roadmaps to implement Big Data and Predictive Analytics initiatives within their own organizations. While the exact nature of the solutions and recommendations may differ from client to client, based on a number of factors, like the industry they operate in, the size of their operations and business model, there are common threads that can be applied to their needs.
While looking for these…Continue
Interactive Data Visualization or Visual Analytics
"A picture is worth a thousand words" or in the case of Data Science, we could say "A picture is worth a thousand statistics". Interactive Data Visualization or Visual Analytics has become one of the top trends in transforming business intelligence (BI) as technologies based on Visual Analytics have moved into widespread use.
Conventional Charts and Dashboards show conclusions but not the thinking behind it.…Continue
Added by Mark Sharma on December 30, 2014 at 8:49am — No Comments
In my consulting work in the Enterprise IT space, I am seeing a definite trend of growing interest in Data Product/Advanced Analytics Design and Development which is becoming increasingly mainstream. Even as I view this a positive, it comes with its own set of perils and pitfalls that will need to be avoided.
Enterprise IT Application Development is often bureaucratic and involves multiple and redundant levels of management through the design, development and testing phases.…Continue
Added by Mark Sharma on December 16, 2014 at 8:30am — No Comments
In a recent engagement with a Fortune 50 client which I had blogged about here earlier, I find there to be considerable debate within the IT department on the nature of the role that Domain Subject Matter Experts will need to play in the design of Advanced Analytics Solutions. Some argue that the role of the Domain Expert needs to be extensive in all…Continue
A couple of weeks ago, my team was asked to come up with a solution for an Enterprise Complaints Platform with Advanced Analytics capability for a Fortune 50 Bank. The initial scope statements were high level requirements like for example, Identification of high risk complaints that were likely to be escalated to regulatory agencies, Complaint Root Cause Analysis, etc.
It quickly became apparent that while the solution did include Advanced Analytics components what was really needed…Continue