DATA ANALYTICS
Use Market Basket Analysis for More Than Market Baskets
We’ve become familiar to seeing the phrase “because you shopped for similar items” when we shop online, or “because you watched The Crown…” when we browse for what to watch on a streaming service. These sorts of recommendations – sometimes called market basket...
Easy Guide to Bulk Replace Values in Power BI or Power Query
Introduction If you are a Power BI user, you probably know that one of the greatest features of the tool is the Power Query Editor. The Power Query Editor lets you wrangle, alter, shape, transform, adjust, and modify your data prior to loading it into Power BI. The...
The Soft Skills Matter in Predictive Analytics
Earlier this month, Gartner published their annual Top 10 Data and Analytics Trends. Of course, non-technology trends are excluded by definition from the tech list. Yet the use of soft skills—data literacy, storytelling, and data ethics—came up throughout the blog...
As the healthcare industry evolves, the need for data analytics and fraud analytics grows
Data analytics for healthcare is growing in importance rapidly as we near the end of 2019. Shifting payment models are creating pressure for providers to deliver better care at a lower cost while meeting stringent standards for patient privacy and combatting fraud and...
Pricing Analytics Applications Take Advantage of Big Data
80% of the respondents in a 2019 study think that top-line growth through pricing is the biggest driver of future profit growth. After all, pricing has an immediate and significant effect on profit compared with other tools that require more coordination and time for...
Make Data Centricity Part of Your Data Analytics Services
“The continued survival of any business will depend upon an agile, data-centric architecture that responds to the constant rate of change.” According to Donald Feinberg, vice president and distinguished analyst at Gartner, the very challenge created by digital...
Analytics for the Insurance Industry in 2019 – New Data Provides Opportunities for Personalization
Historically, no industry has embraced data as much as the insurance industry. Ever since two ministers of the Church of Scotland used modern actuarial science concepts to set premiums and annuities for the Church’s ministers and beneficiaries, data, in the form of...
When Should You Hire a Data Science Consulting Firm Versus Building an Internal Team?
As the trend in data science and big data analytics accelerates, organizations are trying to determine whether they should hire a data science team or hire a data science consulting firm. The good news: the options aren’t mutually exclusive. In fact, you should use a...
Part 1 of 3: A Beginner’s Guide to Container Orchestration
Introduction This article is Part 1 of a multi-part series on Container Orchestration. Part 1 is a conceptual introduction for beginners (if you have little or no conceptual experience with these topics.) Part 1 gives a conceptual foundation on core topics including...
The open source trend in advanced analytics: 3 reasons to use technology like Python and R
2010 was a big year: The website KDnuggets, a leading site on AI, data science, and other advanced analytics topics, has been attracting hard-core data scientists for decades. Every year, KDnuggets conducts an annual survey on the “Data Mining / Analytic Tools Used.”...
3 Techniques for Preparing Data for Predictive Modeling
"A customer with a billing balance of $0 is certain to cancel service.” So begins the tale of bad data preparation and its effects on Predictive Analytics. The story goes something like this: a data scientist uses predictive modeling to determine which customers will...
11 Trillion Reasons to Love Data Governance
In July 2018, McKinsey shared a few big examples of the value created by companies with well-defined data strategies. A bank is on track for $2B in benefits from a multi-year strategy, an oil and gas company is enjoying a 12-15% lift in profit margins, and over the...
Choosing a Partner for Data Analytics Consulting – Three Essential Considerations
According to Gartner analyst Nick Heudecker, 60% to 85% of big data projects fail. While big data captures the headlines, data projects in general share similar difficulties. Now, more than ever, choosing the right partner for business intelligence, data analytics,...
Segmentation with Predictive Analytics – What Marketers Need to Know
As marketers, we are bombarded with new concepts, like predictive modeling and predictive data analytics, that we need to quickly understand and integrate into our daily work. The good news: marketing segmentation is not new. The earliest use of the word “market”...
Understanding Social Media Sentiment Analysis
Let’s imagine a new product is being released in the market and everybody is talking about it on social media. There is a plethora of Facebook posts, Twitter tweets and Instagram posts tagging the product and the business. The product can be great, average, or bad;...
Why your marketing analytics program needs to include social media
Marketing analytics offers far more than improved insight into how your marketing programs are performing. While these more simplistic analyses shouldn’t be discounted, since your organization can gain incredible value through maximized effectiveness and return on...
Should you go open-source when it comes to Big Data, and should you go it alone?
Big data doesn’t simply mean large quantities of data, and it doesn’t have a single agreed-upon definition. Regardless of what defines “big,” though, datasets will only continue to grow as more and more analog information is digitized, the internet of things continues...
How Companies Are Getting the Most Out of Predictive Analytics
Predictive data analytics is just like it sounds – advanced analytics techniques that are capable of making predictions about future unknown events. Mainly, these analytics techniques rely on statistical algorithms and machine learning to provide the best assessment...
How Data Science is Changing the Healthcare Industry
Today’s healthcare industry generates a tremendous amount of data. Leveraging that information, along with advancements in data science tools, can lead to improvements in patient care and experience, reduced insurance fraud, and provide efficiency and monetary gains...
Increasing Customer Satisfaction & Retention with Contact Center Analytics
Happy customers are a foundation for any business and business leaders understand that customer feedback provides the ability for the business to provide an exceptional customer experience. However, for years, business leaders have struggled to gain meaningful...