Once you have identified decisions that could usefully be improved by predictive analytics you must develop predictive analytic models for each decision. Each decision is going to require a different predictive analytic model, perhaps several. Some predictive analytic models, such as predicting the future value of a customer for instance, may be useful in multiple
The rising prevalence and increasingly varied applications of business intelligence software and analytics solutions continue to be a hot topic in the business world. Companies in a wide variety of sectors are approaching these tools and finding different...
It seems Big Data is currently persona non grata. In the last week, a headline in The New York Times asked “Is Big Data an Economic Big Dud?” and, based on some (perhaps mis-interpreted) sentiments in the most...
The research firm MarketsandMarkets predicts that the global big data market will show a 26 percent compound annual growth rate from 2013 to 2018. The global big data market is forecast to show a compound annual growth...
In the last few weeks a vigorous discussion on the legality of the NSA’s data mining efforts in the war on terror has raged. The revelations by former NSA contractor turned whistleblower Edward Snowden have concerned American...
The agricultural industry has seen many changes in the past 100 years. Since the birth of the industrial agriculture in 1900, we have moved forward to the era of digital enhanced agriculture where everything that is done...
As buzzwords go, big data is currently one of the most powerful—and one of the most perplexing. It sounds like something only multinational conglomerates can afford. But the concept of analyzing very large amounts of data and...
Every business has a treasure trove of data, from customer and transaction information to manufacturing and shipping statistics. The key is figuring out how to use past data to better the business’ future. One strategy is for...
With vast amount of data that currently available, who should be able to predict the future the most? Should it be Google? Facebook? Twitter? Google claim to be able to predict the flu epidemic in the future, and other...
Consumers are creatures of habit, and the behaviors they demonstrate today will oftentimes indicate the actions they’ll take tomorrow. A number of hyperlocal vendors are helping businesses create customer profiles based on in-store activities, purchase histories, and...
