Smart Data Collective

JANUARY 14, 2021

In 2019, Forbes published an article showing that machine learning can increase productivity of the financial services industry by $140 billion. A lot of experts have talked about the benefits of using predictive analytics technology to forecast the future prices of various financial assets , especially stocks.

Predictive Analytics 81

Predictive Analytics Forecasting Analytics Machine Learning 81

Decision Management Solutions

APRIL 23, 2019

In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , in which he states there are only three levers of value in insurance: Sell More, Manage Risk Better (aka underwriting and adjusting), and Cost Less to Operate.

Insurance 69

Insurance Risk Technology Management 69

Smart Data Collective

MARCH 2, 2023

As a result, they will need to invest in data analytics tools to sustain a competitive edge in the face of growing economic uncertainty. Kaneshwari Patil wrote an article for Nasscom Insights about the reasons companies should invest in big data during the recession. This helps companies adapt to meet their changing expectations.

Big Data 81

Big Data Uncertainty Risk Data mining 81

Smart Data Collective

JUNE 19, 2019

As such, you should concentrate your efforts in positioning your organization to mine the data and use it for predictive analytics and proper planning. The Relationship between Big Data and Risk Management. Tips for Improving Risk Management When Handling Big Data. Risk Management Applications for Analyzing Big Data.

Risk Management 70

Risk Management Risk Management Big Data 70

Smart Data Collective

SEPTEMBER 30, 2022

While “the dark side” of anything certainly has a sinister ring to it, the many risks and dangers linked with big data are often overlooked and treated as minor issues. Big data analytics makes it hard for any firm to keep any data files completely anonymous. Breaches That Result in Obstruction of Privacy. Wrapping Up.

Big Data 135

Big Data Data-driven Risk Measurement 135

Smart Data Collective

SEPTEMBER 6, 2023

Many financial institutions are already using these types of predictive analytics models to fight fraud. This proactive approach to fraud detection can significantly reduce the risk of e-commerce fraud, protecting businesses and their customers. AI is going to be more important than ever, as this article from IBM highlights.

Software 104

Software Digital Transformation Measurement Predictive Analytics 104

Decision Management Solutions

MAY 1, 2019

That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , Manage Risk Better , and 3. Finally, operating at a lower cost means better managing risks and fraud. Predictive analytics can make a significant impact on lowering risk. Sell More , 2.

Insurance 75

Insurance Technology Predictive Analytics Risk 75

Smart Data Collective

JULY 31, 2022

Predictive analytics technology has become essential for traders looking to find the best investing opportunities. Predictive analytics tools can be particularly valuable during periods of economic uncertainty. Predictive Analytics Helps Traders Deal with Market Uncertainty. Analytics Vidhya, Neptune.AI

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Predictive Analytics Analytics Uncertainty Forecasting 134

Smart Data Collective

JULY 11, 2023

In one of our articles, we mentioned that many nurses have used AI to provide better services to their patients. Zara Abrams wrote a great article for the American Psychological Association about the benefits of AI in the mental health profession. The healthcare industry is among them.

Management 72

Management Predictive Analytics Cost-Benefit Interactive 72

Smarten

JUNE 8, 2022

In this article, we provide some examples of what a Citizen Data Scientist can do to advance the goals and interests of the organization and optimize their productivity and performance. What follows is a short list of sample use cases that leverage predictive analytics.

Predictive Analytics 52

Predictive Analytics Predictive Modeling Forecasting Optimization 52

Smart Data Collective

AUGUST 21, 2022

AI Can Help with Risk Scoring During the Testing Process. The primary objective of the risk-based testing technique is to identify the problems that pose the greatest risk during the testing process. Therefore, using a risk-based approach improves the overall user experience and doesn’t require that much maintenance.

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Testing Risk Software Technology 85

Smart Data Collective

JUNE 8, 2023

many of our articles have centered around the role that data analytics and artificial intelligence has played in the financial sector. The Sports Analytics Market is expected to be worth over $22 billion by 2030. Liam Fox, a contributor for Forbes detailed some of the ways that data analytics is changing the NFL.

Data Analytics 82

Data Analytics Analytics Data Collection Statistics 82

Smart Data Collective

JULY 9, 2021

They can use data analytics to assess the performance of employees in different situations, including traditional workers in-house, remote workers and independent contractors. It has been shown that big data can minimize employment risks during the hiring process. It also helps with creating a solid hiring model.

Data Analytics 127

Data Analytics Management Analytics Big Data 127

Smart Data Collective

SEPTEMBER 28, 2022

This reduces the risk that inaccurate information will be used in your organization’s decision-making, which could result in poor business outcomes. Information management mitigates the risk of errors. Errors can be costly and time-consuming, so the more you reduce the risk of errors, the better. Conclusion.

Big Data 104

Big Data Management Data Quality Cost-Benefit 104

Smart Data Collective

AUGUST 24, 2021

Data analytics technology can make it easier to choose the best cryptocurrency for long-term gains. Continue reading this article, and we will tell you how to decide which cryptocurrency to invest in by using data analytics. This is possibly the most important application of data analytics tools.

Analytics 129

Analytics Data mining Analytics Technologies Predictive Analytics 129

Domino Data Lab

JULY 28, 2021

In this article, we will provide an overview of the three overlapping components of data science, the importance of communication and collaboration, and how the Domino Data Lab MLOps platform can help improve the speed and efficiency of your team. This almost always results in lack of adoption, and can also expose an organization to risk.

Data Science 110

Data Science Statistics Recreation/Entertainment Predictive Analytics 110

Smart Data Collective

JULY 9, 2023

This article is going to provide some great insights on developing strategies for unlocking additional value from an online business, which can do a lot to boost revenue and catapult the enterprise to new heights. Take no risks when it comes to protecting data privacy!

Optimization 73

Optimization Data Analytics Analytics Data-driven 73

Smart Data Collective

MARCH 16, 2022

Last year, in an article that talked about the impact big data has on finance, we said that location data sets can make investing easier. Companies spent nearly $11 billion on financial analytics in 2020. In the article that we wrote last year, we talked about how data especially location data can be used in market management.

Big Data 103

Big Data Deep Learning Finance Data-driven 103

datapine

MAY 2, 2023

In this article, we’re going to examine examples and benefits of big data in logistics industry to fuel your imagination and get you thinking outside of the box. In other words, UPS found that turning into oncoming traffic was causing a lot of delays, wasted fuel, and increased safety risk.

Big Data 275

Big Data Cost-Benefit Internet of Things Optimization 275

IBM Big Data Hub

MAY 17, 2024

But as businesses around the globe rapidly adopt the technology to augment processes from merchandising to order management, there is some risk. These tools enable companies to proactively identify potential disruptions and mitigate risks. Generative AI’s impact on the social media landscape garners occasional bad press.

B2B 65

B2B Interactive Optimization Forecasting 65

Decision Management Solutions

APRIL 15, 2019

In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question? , Manage Risk Better (aka underwriting and adjusting). In February, we published a blog post on “Using Technology to Add Value in Insurance.” Sell More. Cost Less to Operate.

Insurance 63

Insurance Technology Predictive Analytics Sales 63

Smart Data Collective

DECEMBER 21, 2022

In this article, we take a look at IT and cyber security jobs that data scientists can do from home. You can use big data to improve risk scoring models and use real-time analytics to stop threats. This demand will only grow as the world of business continues to drift into a decidedly digital direction.

IT 110

IT Big Data Data Science Data-driven 110

Sisense

OCTOBER 29, 2021

Countries and municipalities of all kinds are seeking to use predictive analytics to counter the continued spread of COVID-19. Media companies are doubling down on the use of analytics to optimize the release of new content and help creators and influencers understand their reach.

Analytics 52

Analytics Testing Predictive Analytics Data-driven 52

Smart Data Collective

JULY 1, 2019

What are the risks of depending too much on big data in the criminal justice system? The Guardian highlighted some of these issues in this article. The biggest problem is when big data is used for profiling and developing crime forecasting tools with predictive analytics.

Big Data 79

Big Data Cost-Benefit Predictive Analytics Machine Learning 79

Smart Data Collective

SEPTEMBER 13, 2021

In this article, we will show you the use of the tools and the top reasons to hire Django developers to help you with big data integration. It is essential for value investors, who want to predict their future income or deploy high-frequency strategies, to capture broad, real-time data. Main Types of Big Data.

Big Data 107

Big Data Forecasting Cost-Benefit Machine Learning 107

Smart Data Collective

SEPTEMBER 15, 2019

Darren Heitner wrote a great article on Inc. Choosing a niche with big data and predictive analytics. You can use big data and predictive analytics to gauge trends in the music industry and see what will be popular in the future. However, big data is also transforming other industries. 4) Get industry knowledge.

Big Data 78

Big Data Optimization Insurance Predictive Analytics 78

datapine

OCTOBER 21, 2020

In this article, we’re going to address the need for big data in healthcare and hospital big data: why and how can it help? If you put on too many workers, you run the risk of having unnecessary labor costs add up. All this vital information can be coupled with other trackable data to identify potential health risks lurking.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

Decision Management Solutions

FEBRUARY 19, 2020

Much better to ensure that your initial decision effectively considers the risk of fraud before allowing the transaction. This makes approving transactions where there is a risk of fraud one of the key use cases for digital decisioning. As many articles point out, just relying on AI can get you in trouble.

Data mining 64

Data mining Machine Learning Risk Modeling 64

Smart Data Collective

OCTOBER 1, 2019

Colleges Mine Data on Their Applicants”, says the Wall Street Journal in an article on the way some universities are using AI and machine learning to determine prospective students’ level of interest in their institution. Real-time monitoring of the student’s risk allows for timely and effective action to be taken.

Big Data 87

Big Data Machine Learning Risk Interactive 87

Cloudera

MARCH 2, 2018

If you do an internet search for ‘data-driven disruption’ you can find articles about almost every industry being disrupted by digitalisation and new applications of data. Identify those most at risk or most affected by a problem more accurately by using predictive analytics.

Data-driven 43

Data-driven Prescriptive Analytics Descriptive Analytics Machine Learning 43

FineReport

MARCH 24, 2024

This article explores the data analyst job description, covering essential skills, tools, education, certifications, and experience. Diagnostic analytics: Uncovering the reasons behind specific occurrences through pattern analysis. Descriptive analytics: Assessing historical trends, such as sales and revenue.

Statistics 52

Statistics Data mining Visualization Reporting 52

Smarten

JUNE 28, 2018

This article discusses the analytical method of Hierarchical Clustering and how it can be used within an organization for analytical purposes. Business Benefit: Once the segments are identified, the bank will have a loan applicants’ dataset with each applicant labeled as high/medium/low risk. Use Case – 1.

IT 40

IT Business Intelligence Predictive Modeling Risk 40

IBM Big Data Hub

APRIL 25, 2024

The methodology gained prominence with the publication of a 1990 article in the Harvard Business Review, “Reengineering Work: Don’t Automate, Obliterate,” by Michael Hammer, and the 1993 book by Hammer and James Champy, Reengineering the Corporation. The result?

Cost-Benefit 57

Cost-Benefit Finance Optimization Key Performance Indicator 57

datapine

MARCH 31, 2022

If you want to take a deeper look into a more researched approach to the top software companies in the market, then take a look at our BI tools article including a rundown of the top 14 tools based on pricing, features, and user reviews! BI Data Scientist. Here we will name 3 of the top ones.

Business Intelligence 239

Business Intelligence Statistics Visualization Data-driven 239

IBM Big Data Hub

AUGUST 7, 2023

This article, part of the IBM and Pfizer’s series on the application of AI techniques to improve clinical trial performance, focuses on enrollment and real-time forecasting. AI can also empower trial managers and executives with the data to make strategic decisions.

Optimization 55

Optimization Forecasting Data-driven Strategy 55

Smarten

JUNE 27, 2018

This article presents a brief explanation of Outliers, and how this type of analysis is used. For example, if an outlier indicates a risk or a mistake, that outlier should be identified and the risk or mistake should be addressed. What is Outlier Analysis? The easiest way to detect outliers is to create a graph.

IT 40

IT Business Intelligence Predictive Modeling Testing 40

Smart Data Collective

DECEMBER 5, 2019

In June, Aviation Today published a great article on the state of machine learning and AI in the airline industry. The article showed that machine learning and AI are helping the industry become more lucrative in the 21 st Century. Predictive analytics will be used much more in airline marketing in the months to come.

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Machine Learning Cost-Benefit Strategy Marketing 65