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AI analytics Analytics Blogs Analytics News, Articles, & Education data and analytics Data Blogs | Information From Enterprise Leaders Data Education DATAVERSITY Smart Data Blogs Smart Data News, Articles, & Education

Nov 29 2024

A Financial Approach to Evaluating Data, Analytics, and AI Investments

Extracting tangible business benefits from data and analytics projects, including those involving AI, has proven challenging for most enterprises. In 2019, VentureBeat reported that 87% of data and analytics (D&A) projects failed to reach production. In 2022, Gartner found that only 20% of insights derived from analytics translated into business outcomes. Despite various reasons for […]

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Author: Prashanth Southekal, Varun Vemula, and Zain Raza Nayani

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Analytics Blogs Analytics News, Articles, & Education Data Analytics data asset Data Blogs | Information From Enterprise Leaders Data Education data product data resource data value DATAVERSITY Enterprise Information Management Information Management Blogs

Oct 11 2024

Harnessing Data: From Resource to Asset to Product

Companies that are data-driven demonstrate improved business performance. McKinsey says that data and analytics can provide EBITDA (earnings before interest, taxes, depreciation, and amortization) increases of up to 25% [1]. According to MIT, digitally mature firms are 26% more profitable than their peers [2]. Forrester research found that organizations using data are three times more […]

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Author: Prashanth Southekal

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analytics Analytics Blogs Analytics News, Articles, & Education business strategy business value Data Blogs | Information From Enterprise Leaders Data Education Data Strategy Blogs Data Strategy News, Articles, & Education data-driven DATAVERSITY Enterprise Information Management Information Management Blogs

Oct 3 2024

Mind the Gap: Ask for Business Actions, Not Business Value

I’m not sure I know anyone in the data and analytics field whose platform doesn’t face budget scrutiny. Analytics is expensive. And when cost-cutting is the order of the day, analytics is a big target. Up shields. Time for another business value inventory. I’ve spoken with consultants who have completed analytics business value inventories at […]

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The Hidden Language of Data: How Linguistic Analysis Is Transforming Data Interpretation

From Fortune 500 companies to local startups, everyone’s swimming in a sea of numbers, charts, and graphs. But here’s the thing: While structured data like sales figures and customer demographics have long been the backbone of analytics, there’s a growing realization that unstructured data is the real goldmine. Think about it. Every tweet, email, customer review, and social […]

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From Instincts to Data-Driven Success: The AI-Powered Path to Product-Led Growth

Have you noticed the way that businesses grow is changing? We are moving away from standard sales-driven models to more innovative product-led tactics. And what is fueling this shift? You guessed it: AI and predictive analytics. These tools are not just fancy jargon; they are transforming how we understand customer needs, customize experiences, and upgrade […]

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Data Visualization in the Era of AI/ML

How will data visualization evolve in the era of AI/ML? While AI is rapidly evolving, it is ironic that business users are still using “dumb” dashboards. The challenge is to move beyond these unintelligent dashboards to a genuinely transformative visual analytics solution that harnesses the power of AI/ML. While some vendors offer a ChatGPT-like querying […]

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Mind the Gap: Start Modernizing Analytics by Reorienting Your Enterprise Analytics Team

… and your data warehouse / data lake / data lakehouse. A few months ago, I talked about how nearly all of our analytics architectures are stuck in the 1990s. Maybe an executive at your company read that article, and now you have a mandate to “modernize analytics.” Let’s say that they even understand that just […]

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3 Examples of LLM Use in Business Intelligence

Large language models (LLMs) are advanced AI systems designed to process and generate human-like text by training on extensive datasets. They excel in tasks ranging from translation and summarization to answering questions and writing content, effectively simplifying what used to be labor-intensive, complex interactions between humans and machines. LLMs represent a transformative leap in artificial […]

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What Is PMML and Why Is It Important?

You may not be an analytics expert and you may find terms like PMML integration somewhat daunting. But, in reality, the concept is not complex, and the value is outstanding. So, what is PMML integration? PMML stands for “predictive model markup language.” It is an interchange format that provides a method by which analytical applications and […]

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Enhancing the Reliability of Predictive Analytics Models

Predictive analytics is a branch of analytics that identifies the likelihood of future outcomes based on historical data. The goal is to provide the best assessment of what will happen in the future. Basically, predictive analytics answers the question “What will happen?” The value of predictive analytics lies in enabling business enterprises to proactively anticipate […]

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Author: Prashanth Southekal

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AI analytics Analytics Blogs Analytics News, Articles, & Education Data Blogs | Information From Enterprise Leaders Data Education data-driven DATAVERSITY Enterprise Information Management Information Management Blogs Insurtech iot Machine Learning

Jun 27 2024

The Future of Insurance: A Business Analyst’s Insight into Emerging Trends and Technologies

The insurance industry is undergoing a revolution, mainly driven by the application of advanced emerging technologies. The application and installation of new technologies enable a better future for our industry, where customers will receive maximum efficiency, security, and flexibility. Here, we address the major technologies and trends that influence this transition, shedding light on their […]

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Demystifying Advanced Analytics: Which Approach Should Marketers Take?

“Advanced analytics” has been the new buzzword on every organization’s mind for the past several years. Recent advancements in machine learning have promised to optimize every arm of an organization – from marketing and sales to supply-chain operations. For some, investments in advanced analytics have been worth the hype. Those who succeed can gain a […]

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Mind the Gap: Analytics Architecture Stuck in the 1990s

Welcome to the latest edition of Mind the Gap, a monthly column exploring practical approaches for improving data understanding and data utilization (and whatever else seems interesting enough to share). Last month, we explored the data chasm. This month, we’ll look at analytics architecture. From day one, data warehouses and their offspring – data marts, operational […]

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Securing Data in Transit for Analytics Operations

Most enterprises today store and process vast amounts of data from various sources within a centralized repository known as a data warehouse or data lake, where they can analyze it with advanced analytics tools to generate critical business insights. Modern data warehouse platforms such as Snowflake, AWS Redshift, Azure Synapse Analytics, and IBM Db2 are built with […]

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Demystifying AI: What Is AI and What Is Not AI?

In recent months, particularly following the release of ChatGPT, there has been an unprecedented surge in interest surrounding artificial intelligence (AI). This heightened attention spans across a multitude of sectors, including business enterprises, technology companies, venture capital firms, universities, governments, media outlets, and more. As the interest in AI is intensifying, some companies have even […]

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Author: Prashanth Southekal

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Analytics Blogs Analytics News, Articles, & Education automation Data Analytics Data Blogs | Information From Enterprise Leaders Data Education data extraction Data Governance & Data Quality | News & Articles Data Governance Blogs data quality DATAVERSITY Enterprise Information Management Information Management Blogs web scraping

May 24 2024

Beyond the Basics: Advanced Tips for Effective Data Extraction

Data extraction is a cornerstone in data analytics, enabling organizations to extract valuable insights from raw data. While basic extraction techniques are fundamental, understanding advanced strategies is crucial for maximizing efficiency and accuracy. This article will explore advanced tips for effective data extraction, shedding light on automation tools, leveraging APIs and web scraping techniques, enhancing […]

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Data Intelligence: The Key to Empowered People and Decisions

McKinsey analysts predict that enterprise employees will rely on data for almost every decision come 2025. If true, this development would mark a significant departure from the current business modus operandi. According to our research, only 25% of enterprise data professionals believe their organization’s decision-making process is data-backed or strategic. How are these two concepts – the perception of data […]

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Granularity Is the True Data Advantage

Commerce today runs on data – guiding product development, improving operational efficiency, and personalizing the customer experience. However, many organizations fall into the trap of thinking that more data means more sales, when these two factors aren’t directly correlated. Often, executives will become overzealous in their digital transformations and cut blank checks for data collection, […]

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The Rise of Augmented Analytics: Combining AI with BI for Enhanced Data Insights

Businesses today are drowning in data. The sheer volume and complexity of information available have made it increasingly difficult for organizations to extract meaningful insights using traditional business intelligence (BI) tools and the expertise of specialized data scientists. This is where augmented analytics comes in. This game-changing technology combines the power of artificial intelligence (AI) […]

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Understanding Linear Regression Intercepts in Plain Language

I am often asked about the role of intercepts in linear regression models – especially the negative intercepts. Here is my blog post on that topic in simple words with minimal statistical terms. Regression models are used to make predictions. The coefficients in the equation define the relationship between each independent variable and the dependent variable. […]

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Author: Prashanth Southekal

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AI analytics Analytics Blogs Analytics News, Articles, & Education Data Blogs | Information From Enterprise Leaders Data Education DATAVERSITY Enterprise Information Management Information Management Blogs predictive analytics predictive maintenance

Apr 25 2024

Preparing for La Niña: Adopting Predictive Maintenance Before Hurricane Season

With a La Niña watch issued for the summer, businesses operating in hurricane-prone regions face heightened concerns about the impending storm season. La Niña heavily impacts the wind shear and atmospheric conditions over the Atlantic, where most hurricanes form thanks to its warm waters. It’s rare to go a year without a hurricane hitting some part of […]

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Overcoming Real-Time Data Integration Challenges to Optimize for Surgical Capacity

In the healthcare industry, surgical capacity management is one of the biggest issues organizations face. Hospitals and surgery centers must be efficient in handling their resources. The margins are too small for waste, and there are too many patients in need of care. Data, particularly real-time data, is an essential asset. But it is only […]

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Demystifying Data Analytics Models

In today’s global landscape, organizations worldwide are increasingly turning to data analytics to enhance their business performance. Research conducted by McKinsey Consulting revealed that data-driven companies not only experience above-market growth but also witness EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increases of up to 25% [1]. Additionally, Forrester’s findings indicate that organizations utilizing […]

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Author: Prashanth Southekal

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Analytics Blogs Analytics News, Articles, & Education data analysis Data Blogs | Information From Enterprise Leaders Data Education data science Data Science Blogs Data Science News, Articles, & Education DATAVERSITY quantum computing quantum computing data science

Mar 18 2024

The Role of Quantum Computing in Data Science

Quantum computing is on the cusp of turning the data science world upside down, offering a level of processing power we’ve only dreamed of until now. This new frontier has an incredible potential to reshape the way we approach data analysis, predictive modeling, and solving the kind of complex problems that have always been a tough […]

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10 Advantages of Real-Time Data Streaming in Commerce

While early science fiction shows like “Buck Rogers” (1939) and “The Fly” (1950) depicted teleportation technology, it was Star Trek’s transporter room that made real-time living matter transfer a classical sci-fi trope. While we haven’t built technology that enables real-time matter transfer yet, modern science is pursuing concepts like superposition and quantum teleportation to facilitate information transfer across any distance […]

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Author: Rachel Workman and Jared Stiff

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Category Archives: Analytics Blogs