Smart Data Collective

JUNE 15, 2022

As the current business world has changed rapidly owing to technology and other advancements, the most agile merchants have thrived and even prospered, typically by employing data-driven tactics. Following is a detailed look at some of the benefits of taking a data-driven approach in a retail business.

Advertising 97

Advertising Cost-Benefit ROI Sales 97

CIO Business Intelligence

SEPTEMBER 19, 2023

Organizations all around the globe are implementing AI in a variety of ways to streamline processes, optimize costs, prevent human error, assist customers, manage IT systems, and alleviate repetitive tasks, among other uses. And with the rise of generative AI, artificial intelligence use cases in the enterprise will only expand.

Enterprise 139

Enterprise Cost-Benefit Optimization Deep Learning 139

Smart Data Collective

JULY 21, 2021

Often, this is about cutting costs, or adding automation, or making life a bit easier. Again, there is nothing wrong with this, but the problem with specific software solutions is that they rarely look at the big picture or provide any benefit outside of a very narrow function. Why Are We so Focused on Data Strategy?

Digital Transformation 143

Digital Transformation Data Strategy Strategy Cost-Benefit 143

AWS Big Data

MARCH 26, 2024

In this post, we discuss how you can use purpose-built AWS services to create an end-to-end data strategy for C360 to unify and govern customer data that address these challenges. We recommend building your data strategy around five pillars of C360, as shown in the following figure.

Data Strategy 69

Data Strategy Strategy Data Warehouse Prescriptive Analytics 69

Smart Data Collective

AUGUST 31, 2020

At Smart Data Collective, we have talked extensively about the benefits of big data in digital marketing. We have focused a lot on using data analytics for SEO. However, there are a lot of other benefits of using big data in marketing. Big data developments have heightened these benefits.

Data-driven 85

Data-driven Marketing Big Data Broadcasting 85

Jet Global

JUNE 30, 2021

This article will outline the key financial, operation, and staffing performance indicators that a CEO should be tracking in 2021, as well as the benefits of tracking these using a dashboard to streamline the reporting process. Gross Profit Margin = (Total Revenue – Cost of Goods Sold) / Total Revenue. Create a company culture.

Metrics 106

Metrics KPI Dashboards Advertising 106

IBM Big Data Hub

FEBRUARY 14, 2024

Personalize customer experiences The use of AI is effective for creating personalized experiences at scale through chatbots, digital assistants and customer interfaces , delivering tailored experiences and targeted advertisements to customers and end-users. Here are some of the industries that are benefiting now from the added power of AI.

Cost-Benefit 83

Cost-Benefit Insurance Unstructured Data Machine Learning 83

IBM Big Data Hub

OCTOBER 16, 2023

Bias can be found in the initial training data, the algorithm, or the predictions the algorithm produces. Businesses cannot benefit from systems that produce distorted results and foster mistrust among people of color, women, people with disabilities, the LGBTQ community, or other marginalized groups of people.

Advertising 70

Advertising Machine Learning Data Architecture Cost-Benefit 70

Smart Data Collective

MAY 17, 2021

The current digital economy runs on our data, and allowing these companies to collect it and process it for their benefit seems to be the cost of entry. For instance, Facebook’s decision to buy WhatsApp in 2014 was based on data collected via the Onavo VPN.

Cost-Benefit 94

Cost-Benefit Advertising Data Collection Data-driven 94

Smart Data Collective

MAY 8, 2022

When you combine big data with AI, you can help your users extract highly-valuable insights from data, foster data literacy across your company or organization, and take advantage of the many other benefits it offers. Improves decision making and reduces costs. High-performance data systems and MapReduce.

Big Data 104

Big Data Data Analytics Analytics Cost-Benefit 104

O'Reilly on Data

JULY 28, 2020

One mid-sized digital media company we interviewed reported that their Marketing, Advertising, Strategy, and Product teams once wanted to build an AI-driven user traffic forecast tool. Take any social media company that sells advertisements. AI product mangers live and die by “Experiment Fast So You Don’t Break Things Later.”

Marketing 361

Marketing Experimentation Metrics Testing 361

AWS Big Data

FEBRUARY 21, 2023

Regardless of the division or use case it is related to, dimensional data models can be used to store data obtained from tracking various processes like patient encounters, provider practice metrics, aftercare surveys, and more. They often negate many benefits of data vaults, and require more business logic, which can be avoided.

Data Warehouse 66

Data Warehouse Data Lake Cost-Benefit Modeling 66

Sisense

OCTOBER 29, 2020

These computers need to get smaller so that processing can be done in the car itself — this is important to reduce the amount of time lag and the cost of transferring data to the cloud.”. The data collected by AVs in the U.S. will likely be owned by the collector of the data, not the data subject.

Machine Learning 90

Machine Learning Data Collection Cost-Benefit Advertising 90

Jet Global

JUNE 5, 2020

The second is how much of the company’s growth is organic as opposed to being advertisement driven. Create an environment in which the KPI positively impacts the workplace and encourages/rewards people for doing things that will benefit the company. Compiling the data and reporting it. That is just the nature of the business.

Insurance 59

Insurance Metrics Reporting KPI 59

Occam's Razor

FEBRUARY 9, 2015

How is competitive intelligence data collected? Competitive intelligence data will never match your site's analytics tool. Display Advertising Opportunity Analysis. Content Consumption Competitive Analysis. + #OMG Mobile, Where's Mobile Data! CI data collection. Central America.

Metrics 155

Metrics Reporting IT Advertising 155

Occam's Razor

OCTOBER 15, 2012

Rather I've had to fall back on my trusty steed: data. :). One common scenario is this: Company PJ spends $250 million on traditional advertising. It takes little money – comparatively – to try a new advertising medium, or improve your website, or build a mobile app, or try just about anything else.

Advertising 136

Advertising Marketing Strategy Insurance 136

BizAcuity

MARCH 1, 2019

and constantly report this data to backend. At the backend, based on the data collected, data is stored in data lakes. Such data is collected from hundreds, thousands and millions of users. Then AI/ML algorithms are run on this collected data. Future of IoT is AI.

IoT 56

IoT Internet of Things Big Data Data-driven 56

Jet Global

MAY 15, 2020

A company’s free cash flow shows how much cash a company is generating after taking operating costs and investments into account. The break-even point represents when total revenue and total costs are the same. Your capital costs have been recovered in full, along with your opportunity cost. t = Number of time periods.

Metrics 98

Metrics Finance Reporting KPI 98

Occam's Razor

AUGUST 13, 2012

If your wish in the second part is to track effectiveness of advertising ( how to determine ROI ) then please see this post: Measuring Incrementality: Controlled Experiments to the Rescue! Regardless… this is a subject I'd covered in detail recently: EU Cookie / Privacy Laws: Implications On Data Collection And Analysis.

Modeling 124

Modeling Metrics Data Quality Data-driven 124

Occam's Razor

SEPTEMBER 15, 2014

A majority of YouTube consumption is on mobile, yet if there is an advertising or content strategy inside a company for YouTube it rarely accommodates for this reality. In this post we will look mobile sites first, both data collection and analysis, and then mobile applications. Many reasons. CEOs still don't get it.

Metrics 141

Metrics Reporting Analytics Marketing 141

Occam's Razor

JANUARY 31, 2017

Ten years, and the 944,357 words, are proof that I love purposeful data, collecting it, pouring smart strategies into analyzing it, and using the insights identified to transform organizations. Everything you see above is framed simply, it is pretty much the same data you saw in the green/gray bars above. simplification and 2.

Visualization 148

Visualization IT Strategy Key Performance Indicator 148

Occam's Razor

APRIL 21, 2014

Find campaigns where they are spending most money, lower the bounce rate and reduce acquisition cost. The mistake we make is that we obsess about every big, small and insignificant analytics implementation challenge and try to fix it because we want 99.95% comfort with data quality. But they don't realize the cost.

Marketing Analytics 131

Marketing Analytics Marketing Analytics Measurement 131

Occam's Razor

SEPTEMBER 4, 2012

They are slow to grasp new opportunities to rethink customer relationships, to revolutionize products and services, marketing, advertising, acquisition, and to deliver delight and make people happy. You'll notice that along with the other two benefits above you are also collecting data about your customers (with permission).

Marketing 144

Marketing Data mining Measurement Strategy 144

Occam's Razor

OCTOBER 14, 2014

Hence, over time, though the costs were reasonable, I've become shy about these resources as a source of value/quality. Just skip the we can give you data and benchmarks on performance bits. If you do use them, please consider the data collection methodology. Competitor Data Benchmarks. Exhaust those first.

Key Performance Indicator 133

Key Performance Indicator Metrics Reporting Marketing 133

Domino Data Lab

JUNE 23, 2019

This talk will describe how you can navigate all these challenges that you’re going to face and build a business where every product interaction benefits from your investment in machine learning. That’s not very useful for finding candidates for job matching, for all the other things you want to do, or for advertising.

Management 110

Management Machine Learning Experimentation Metrics 110