From small business or a multinational enterprise, data is used everywhere as the backbone of businesses. However, due to its significance, the proper management of data is necessary in order to effectively utilize it. After all, improper data management may lead to detrimental problems to your business such as incorrect information, duplicate data, or wasted time and storage.
Read MoreFrom small business or a multinational enterprise, data is used everywhere as the backbone of businesses. However, due to its significance, the proper management of data is necessary in order to effectively utilize it. After all, improper data management may lead to detrimental problems to your business such as incorrect information, duplicate data, or wasted time and storage.
Read MoreAs an asset manager, the assessment of risk, needs, goals, and progress is crucial for success. Thus, many asset managers are turning to new technologies to build on the existing knowledge and systems that they have for their needs. Such types of technologies being utilized today include machine learning and artificial intelligence, tools that could help generate new insights to be at the disposal of asset managers.
Read MoreMachine learning (ML), a subset of artificial intelligence, is an increasingly important technology for big data analytics which enables organizations to detect patterns and emerging trends in their operations. In 2017, the Internal Revenue Service (IRS) adopted machine learning techniques to identify fraud and other types of noncompliance by individuals claiming tax refunds.
Read MoreIn modern-day sports, organizations are constantly seeking new informational edges over their competitors. By utilizing analytics and data science, sports organizations are able to better make decisions and efficiently execute new ideas, enabling them to surpass the competition. In fact, machine learning is able to improve almost all aspects of their operations, making it an integral part of achieving success.
Read MoreFrom your favorite streaming platform’s recommendation algorithm to self-driving cars, Machine Learning has grown its presence in our daily lives exponentially. In fact, the global Machine Learning market is projected to grow to $117.19 billion by 2027. Thus, it is without a doubt that businesses and industries should begin utilizing these technologies to their advantage.
Read MoreData mining is a combination of technological, processing, and analytical techniques that are used to highlight similarities and differences within large sets of data to illustrate key factors and decisions. It employs the use of statistical analysis, artificial intelligence, and machine learning to help process and simplify information.
Read MoreData governance is a set of policies that helps to ensure data is usable, accessible and protected. Effective data governance leads to better data analytics, which in turn leads to better decision making and improved operations support. Data governance also helps to avoid data inconsistencies or errors in data, which lead to integrity issues, poor decision making, and a variety of organizational problems. It leads to improved data quality, decreased data management costs, and increased access to data for all stakeholders. The result is better decision making and better business outcomes.
Read MoreAccording to NewVantage Partners' 2018 study of senior executives, 73 percent of respondents indicated big data projects had provided demonstrable benefits. This value has shown itself in the form of advanced analytics/better judgments, enhanced customer service, cost savings, innovation and disruption, faster time to market, and data monetization. According to an Economist research, firms that employ DDDM outperform and are more lucrative than those that do not.
Many individuals are perplexed by the terms Data and Metadata. Though both are data types, they serve different purposes and have different requirements. Data might simply be a piece of information, a series of measurements or observations, a tale, or a description of anything. Metadata specify important information about the data that aids in determining the type and characteristics of the data.
Read MoreA data breach exposes confidential, sensitive, or protected information to an unauthorized person where the files in a data breach are viewed and/or shared without permission. Most often, data breaches occur due to weaknesses in technology or user behavior due to lack of encryption, minimal security testing and poor digital habits. Without comprehensive security at both the user and enterprise levels, you are almost guaranteed to be at risk.
Read MoreNowadays, data science has grown to become a popular subject with many utilizing it across many businesses and industries. Some of the most prevalently stored data include information about consumers, sales, inventory, and even cash. With new innovative technologies, data science concepts may now also be applied towards the Stock Market. In fact, data science is used to make analyses on the market, where organizations may determine which stocks are worth the investment and when.
Read MoreAlmost every organization in business and government realizes the value of data. As a result, many groups are seeking to build strategies to more effectively use the data at hand.
If your company has begun this process or you’re thinking of starting now, then here are our suggestions on how to best-approach your transformation.
Read MoreOur job, as data scientists, means that most of the time we are looking at KPIs and trends to help companies grow and optimize their processes. But what about the times when we have the chance to tackle social inequalities, design better products, and ultimately understand the full human experience of audiences through just the same: DATA?
One of the first things they teach you in any data-related class is the four dimensions of Big Data or otherwise known as the four ”Vs”: volume, variety, velocity and veracity.
Read MoreOk, here it goes.. You have been assigned to present your company's sales data and you can’t decide whether you should use a report or develop a dashboard.
