Do the BI vendors’ claims really stack up? “A little prediction goes a long way” wrote Eric Siegel in his popular Predictive Analytics book. True, predictive analytics is now part and parcel of most Business Intelligence...
Before companies can profit from big data, they often must deal with bad data. There may indeed be gold in the mountains of information that firms collect today, but there also are stores of contaminated or “noisy”...
The majority of consumer packaged goods (CPG) companies are failing to place analytics at the heart of their decision-making process, limiting their ability to improve the customer experience and gain business advantage, a study by Accenture has...
Three recent books offer managers expert perspectives on the increasing power and importance of analytics. U.S. President Barack Obama’s 2012 campaign owed much of its success to quantitative analysis, with staffers able to identify, for example, which...
Department store conglomerate Target Brands Inc. knows when its female customers are pregnant long before they start buying cribs. Google Inc. was able to track the H1N1 flu in real-time using Internet search queries when the government...
Both IDC and The International Institute of Analytics (IIA) discussed their big data and analytics predictions for 2014 in separate webcasts last week. Here is my summary of their predictions plus a few nuggets from other sources. IDC predicts...
Top 5 most used tools were R (used by 70% of data miners), IBM SPSS Statistics, Rapid Miner, SAS, and Weka, while STATISTICA, KNIME, SAS JMP, IBM SPSS Modeler, and RapidMiner had the the highest satisfaction. Big...
The financial services industry will begin making significant strides in 2014 toward using data analytics to fight fraud, experts predict. The value of using big data to help prevent or detect fraud is becoming clearer, helping institutions...
