Smart Data Collective

JANUARY 29, 2021

For example, they could maximize their employees’ skills or cut production costs. Another way in which businesses can reduce their expenses is by using smart data. Companies around the world are projected to spend $274 billion on big data by 2022. Businesses can use smart data for a range of other purposes too.

Cost-Benefit 87

Cost-Benefit Data-driven Big Data Forecasting 87

IBM Big Data Hub

JANUARY 25, 2024

A recent report shows a significant increase in the cost of manufacturing downtime from 2021 to 2022, with Fortune Global 500 companies now losing 11% of their yearly turnover which amounts to nearly USD 1.5 regulations, undergoing digital transformation and the need for cost-cutting. A 40% reduction in inventory costs.

Optimization 74

Optimization Cost-Benefit Prescriptive Analytics Manufacturing 74

CIO Business Intelligence

SEPTEMBER 8, 2022

In Foundry’s 2022 Data & Analytics Study , 88% of IT decision-makers agree that data collection and analysis have the potential to fundamentally change their business models over the next three years. The ability to pivot quickly to address rapidly changing customer or market demands is driving the need for real-time data.

Cost-Benefit 122

Cost-Benefit Internet of Things Data-driven Data Lake 122

O'Reilly on Data

NOVEMBER 28, 2023

54% of AI users expect AI’s biggest benefit will be greater productivity. ChatGPT was opened to the public on November 30, 2022, roughly a year ago; the art generators, such as Stable Diffusion and DALL-E, are somewhat older. How will AI adopters react when the cost of renting infrastructure from AWS, Microsoft, or Google rises?

Enterprise 279

Enterprise Modeling Testing Reporting 279

Jedox

NOVEMBER 17, 2022

Skill #6: Unifying data stuck in accounting silos. According to Gartner’s Predicts 2022 report , a majority of organizations will choose integrated financial management tools as their preferred solution towards process automation within the next two years. The Case of IFCO. Skill #2: Embracing increased collaboration.

Finance 77

Finance Cost-Benefit Forecasting Reporting 77

IBM Big Data Hub

OCTOBER 12, 2023

The tasks behind efficient, responsible AI lifecycle management The continuous application of AI and the ability to benefit from its ongoing use require the persistent management of a dynamic and intricate AI lifecycle—and doing so efficiently and responsibly. But the implementation of AI is only one piece of the puzzle.

Cost-Benefit 77

Cost-Benefit Metadata Data Governance Modeling 77

AWS Big Data

MARCH 26, 2024

This view is used to identify patterns and trends in customer behavior, which can inform data-driven decisions to improve business outcomes. In 2022, AWS commissioned a study conducted by the American Productivity and Quality Center (APQC) to quantify the Business Value of Customer 360.

Data Strategy 69

Data Strategy Strategy Data Warehouse Prescriptive Analytics 69