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 companies to use predictive analytics. This involves combing through past information to derive models and analyses that help
How powerful would it be for marketers to know what their customers are going to do before they actually do it? To predict how they would react to certain messages and offers, or to intervene just before...
NBA Moneyball: The Celtics have hired a 23-year-old stats wunderkind to advise coach Brad Stevens By: Kelly Dwyer, Editor, Ball Don’t Lie Originally published at Yahoo! Boston Celtics general manager Danny Ainge made a calculated gamble in...
IBM’s Watson computer, which defeated the two all-time human champs on the TV quiz show Jeopardy! in 2011, is a glowing example of the heights achievable by predictive analytics. This is a machine that answers questions—about any...
A week after November’s United States presidential election and Nate Silver was everywhere. Already an established member of the American political commentariat via his blog FiveThirtyEight.com, Silver’s name went into the stratosphere after he correctly predicted the...
Today, data is BIG: It disrupts, defines, and determines a spate of outcomes, from elections to medical treatments. Data “embodies a priceless collection of experience from which to learn,” according to Siegel. “Every medical procedure, credit application,...
The travel company cuts costs, improves pricing accuracy and speeds page loads. Travel booking and comparison shopping web site Orbitz Worldwide is making a case for hiring staff with math skills. With a statistical analysis, its hotels...
As you might have heard before if you read McKinsey reports, the New York Times or just about any technology news site, data scientists are in high demand. Heck, the Harvard Business Review called it the sexiest...
Technological advancements are helping financial institutions and law enforcement combat bank fraud and money laundering more efficiently, according to Jennifer Shaskey Calvery, director of the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department....
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