CIO Business Intelligence

AUGUST 24, 2023

You need to know where the data’s coming from, how it’s transformed, and what the outputs are,” says Nick Amabile, CEO at DAS42, a data consulting firm. Retraining, deployment, operations, testing—a lot of these features just aren’t available yet.” Protecting access to sensitive data is just one part of the data governance picture.

Uncertainty 98

Uncertainty Risk Testing Enterprise 98

Sisense

MAY 20, 2021

Identify theories, test them, rigorously seek to disprove them while rapidly implementing those that show promise. Don’t let your team search out favorable statistics. Amazon measures the effectiveness of almost everything it does, including innovation. It’s becoming increasingly important to try to measure innovation with data.

Analytics 98

Analytics Data-driven Strategy Measurement 98

BizAcuity

APRIL 1, 2023

Global consultancy firm, Deloitte, estimates that the amount of money laundered globally in one year is in the range of US$800 billion to US $2 trillion. [1] Model Training: The selected model is trained on a dataset and subsequently validated and tested before being deployed.

Machine Learning 52

Machine Learning Predictive Analytics Predictive Modeling Risk 52

Occam's Razor

AUGUST 22, 2011

Key To Your Digital Success: Web Analytics Measurement Model. " Measuring Incrementality: Controlled Experiments to the Rescue! Barriers To An Effective Web Measurement Strategy [+ Solutions!]. Measuring Online Engagement: What Role Does Web Analytics Play? "Engagement" How Do I Measure Success?

KPI 124

KPI Metrics Measurement ROI 124

BizAcuity

JANUARY 18, 2023

Global consultancy firm, Deloitte, estimates that the amount of money laundered globally in one year is in the range of US$800 billion to US $2 trillion. [1]. It is a subset of business analytics that uses statistical techniques (algorithms) to find patterns in historical data points and predict future outcomes with high accuracy.

Machine Learning 52

Machine Learning Predictive Analytics Predictive Modeling Risk 52

datapine

MARCH 22, 2019

Moreover, measuring these metrics will also avert potential customer frustrations, monitor customer satisfaction levels, and give you a more concrete, informed idea of how your customer-facing team is doing. How To Measure Customer Satisfaction? How To Measure Customer Satisfaction?

Metrics 134

Metrics Dashboards Measurement Interactive 134

Ontotext

APRIL 3, 2024

So, this is a big driver for the outcome because when you are saving money for the business, you can measure it and see its value. ” Aurelije Zovko : For me, what’s also important is business productivity and one thing is to measure the business processes that bring revenue. These are not statistical inferences.

Technology 59

Technology Risk Digital Transformation Measurement 59

Occam's Razor

APRIL 4, 2011

In the same vein not every output that is chock full of numbers in five size font, with pies and tables stuffed in for good measure, is a representation of web reporting. Also mere existence of statistics is not sufficient. I love applying the " Three Layers of the So What " test to any analysis I present or see.

Reporting 127

Reporting Metrics Dashboards Statistics 127

datapine

NOVEMBER 15, 2022

Product metrics are quantitative performance measurements used by businesses to gain insights into various areas like product development, pricing, quality, and more. They can evaluate architectural measures, quality measures, software complexity, or functional size. What Are Product Metrics?

Metrics 141

Metrics KPI Measurement Dashboards 141

Occam's Razor

DECEMBER 3, 2008

Strategic Solutions Consultant (clearly with hype like that this a role at a vendor!). Leaders and identify measurements strategies for their impossible to answer questions (often they don't know how ease these are so you totally look like a hero). Trinity type execution of measurement. Understanding ecosystem.

Analytics 115

Analytics Consulting Metrics Reporting 115

Occam's Razor

OCTOBER 4, 2010

Even for experienced Analysts / Consultants. This is a long preamble to tell you that the strategy we normally execute in measurement is wrong. They likely require you to go outside your current systems and sources to look for data and guidance in order to measure success. #3. Let' us solve this problem today.

Reporting 119

Reporting Metrics Sales Strategy 119

CIO Business Intelligence

JUNE 14, 2022

As part of this mission, there’s a commitment that at least 50 of the government’s top 75 identified services across 14 departments will move to a “great” standard by 2025, against a “consistent measure of service performance”, although precisely how that will be measured has not been released. Better data to power decision making.

Strategy 105

Strategy IT Digital Transformation Data Processing 105

CIO Business Intelligence

APRIL 7, 2022

With back-testing and cross-validation, we found that we’ve consistently been able to predict two-thirds of people about to resign, and save 10% to 20% of the ones we identified,” he says. But the AI tool can help measure employee moods. When you present it that way, that we’re looking out for your health, they opt in,” he says.

Consulting 145

Consulting Management Interactive Metadata 145

O'Reilly on Data

MARCH 23, 2023

Tokens ChatGPT’s sense of “context”—the amount of text that it considers when it’s in conversation—is measured in “tokens,” which are also used for billing. It’s by far the most convincing example of a conversation with a machine; it has certainly passed the Turing test. Tokens are significant parts of a word.

IT 262

IT Modeling Testing Risk 262

AWS Big Data

MARCH 11, 2024

However, it’s crucial to recognize that this reduction could adversely affect performance if not thoroughly assessed and tested. However, although these indicators can suggest potential overprovisioning, it’s essential to conduct performance testing and validate your scaling patterns before making any adjustments to the number of KPUs.

Management 95

Management Snapshot Metrics Cost-Benefit 95

Occam's Razor

APRIL 30, 2018

If you consider the largest pieces, there is the internal (you, the company) and the external (agencies, consultants). The teams naturally gravitate towards optimization and measurement that spans their individual mini-universes. Can we test different spending levels in that market? Was that a great ad? Let me explain.

Advertising 117

Advertising Metrics Measurement Insurance 117

CIO Business Intelligence

SEPTEMBER 13, 2023

Moreover, only 54% of companies have a clear innovation strategy, according to a 2023 report on innovation from consulting firm Protiviti , with 41% still developing one and 5% having neither a strategy nor plans to create one. It can get cost prohibitive to get the talent you need, or the timelines to hire them are too long.

IT 136

IT Digital Transformation Risk Cost-Benefit 136

Data Science and Beyond

JANUARY 7, 2019

Bootstrap sampling techniques are very appealing, as they don’t require knowing much about statistics and opaque formulas. Instead, all one needs to do is resample the given data many times, and calculate the desired statistics. However, seeming large isn’t enough. Don’t use 1,000.

Statistics 77

Statistics Uncertainty Testing Modeling 77

Depict Data Studio

MARCH 23, 2021

Measurement Scales. These are called measurement scales. If academic test scores are left-skewed—now what? You have a list of test scores (40%, 55%, 70%) but you really just want to focus on students who passed or didn’t pass the exam. And your test scores are living in another spreadsheet?

Analytics 52

Analytics Visualization Testing Measurement 52

Occam's Razor

JUNE 6, 2007

Experimentation & Testing (A/B, Multivariate, you name it). What ideas to test first on your site? Should you hire Consultants (and if so when and what to look for and expect)? The book takes a stand on issues, makes choices and cuts through the fog/FUD, in an attempt to make your life a tiny bit easier. Clicks and outcomes.

Analytics 60

Analytics Metrics Marketing Dashboards 60

Sisense

NOVEMBER 18, 2019

A lot of standard business KPIs measure the results of company efforts: revenue, lead conversion, user count, NPS, etc. These are important statistics to measure, but the people tracking them should be very clear that these numbers track how the company is moving, not why it is moving that way.

Dashboards 66

Dashboards KPI Data-driven Metrics 66

The Unofficial Google Data Science Blog

DECEMBER 4, 2019

With those stakes and the long forecast horizon, we do not rely on a single statistical model based on historical trends. For example, we may prefer one model to generate a range, but use a second scenario-based model to “stress test” the range. A single model may also not shed light on the uncertainty range we actually face.

Forecasting 113

Forecasting Data Science Statistics Uncertainty 113

Cloudera

APRIL 9, 2021

Conversely, modern data warehouses accommodate multiple versions and environments that support both innovation (fast interaction with the latest versions) and operational stability with tried and tested versions. . A better measure of value is price-performance. .

Data Warehouse 59

Data Warehouse Cost-Benefit Statistics Data-driven 59

Smarten

AUGUST 9, 2017

Users can perform advanced analytics in an easy-to-use, drag and drop interface without knowledge of statistical analysis or algorithms. Augmented Data Preparation empowers business users with access to meaningful data to test theories and hypotheses without the assistance of data scientists or IT staff.

Analytics 40

Analytics IT Statistics ROI 40

Occam's Razor

MARCH 23, 2010

Part of it fueled by some Consultants. Part of it is fueled by a vocal minority genuinely upset that 10 years on we are still not a statistically powered bunch doing complicated analysis that is shifting paradigms. Usually at least a test. Part of it fueled by Vendors. What a competitive bunch! The web is changing too fast.

Analytics 118

Analytics Consulting Metrics Experimentation 118

Occam's Razor

OCTOBER 24, 2016

The most primitive thing you can do to have a very strong people, process, structure foundation is to pick great metrics to measure. Most of you already measure the heck out of this. (If Only a handful of you measure micro-outcomes. There is just one model that passes all the smell tests, Time Decay. Tough metrics.

Metrics 146

Metrics Marketing Optimization Modeling 146

Domino Data Lab

AUGUST 8, 2019

Their approach is to bombard “organoid” mini brains living in vats with potential cancer meds, to measure the meds’ relative effects. Putting discussions about security aside, the statistics competency required to confront fairness and bias issues for machine learning models in production set quite a high bar. machine learning?

Data Science 71

Data Science Machine Learning Data Governance Statistics 71

BI-Survey

FEBRUARY 14, 2022

We asked companies around the globe about the measures they are taking to modernize and the challenges they need to address to meet elevated requirements. Planning and forecasting is currently being put to the test in many companies due to shifted priorities. In an increasingly dynamic world, the predictability of events is low.

Forecasting 52

Forecasting Uncertainty Measurement Software 52

Smart Data Collective

NOVEMBER 7, 2019

Mobile app development is a disruptive process that not only requires the realization of ideas but also requires using the right technology to build the app to ensure audience engagement and traction through adequate marketing measures. These statistics are one of the major reasons as to why you need to avoid mistakes during app development.

Machine Learning 48

Machine Learning Marketing Recreation/Entertainment Advertising 48

datapine

APRIL 11, 2019

Rather than listing facts, figures, and statistics alone, people used gripping, imaginative timelines, bestowing raw data with real context and interpretation. The top management of this facility have a holistic view to run the operations more easily and efficiently and can try to implement diverse measures if they see abnormal figures.

Dashboards 169

Dashboards Visualization Data-driven Key Performance Indicator 169

datapine

AUGUST 29, 2022

It mentions the completeness of data (as opposed to sampling), the power to quantify and digitize new formats of information that were previously inaccessible, as well as the ability to use new databases (like Hadoop and NoSQL) and statistical tools (machine learning and data mining) to describe huge quantities of data.

Big Data 263

Big Data Data Analytics Analytics Data mining 263

Darkhorse

AUGUST 5, 2016

With more thought and foresight early in the project we could have identified a way to measure or predict this, like change in ride time for instance, and then incorporate that in our model. Consulting companies love to brag about how they are solving tough problems. Look at what academics have done. Read Interfaces. Search the Google.

Measurement 40

Measurement Metrics Modeling Visualization 40

Occam's Razor

NOVEMBER 15, 2010

My biggest beef with web analysts and consultants is how quick they are to jump into Google Analytics or Omniture or WebTrends. Visitor Recency measures the gap between two visits of the same visitor. It is a measure of efficiency. I hope you'll benefit from my humble experience. Let's go! Step #1: Visit the website.

Reporting 139

Reporting Metrics Strategy Measurement 139

datapine

DECEMBER 28, 2021

1) What Is A Misleading Statistic? 2) Are Statistics Reliable? 3) Misleading Statistics Examples In Real Life. 4) How Can Statistics Be Misleading. 5) How To Avoid & Identify The Misuse Of Statistics? If all this is true, what is the problem with statistics? What Is A Misleading Statistic?

Statistics 363

Statistics Advertising Visualization Data mining 363

Depict Data Studio

APRIL 16, 2019

My transition from a university research lab to a non-university consulting job was rocky, to say the least! Long ago, I had majored in psychology so I could take as many research methods and statistics courses as possible. I left those research labs and found a consulting job with health insurance. Avoid Red-Green Color Combos.

Visualization 56

Visualization Reporting Statistics Dashboards 56

datapine

APRIL 16, 2019

By implementing the right reporting tools and understanding how to analyze as well as to measure your data accurately, you will be able to make the kind of data driven decisions that will drive your business forward. Qualitative data analysis is based on observation rather than measurement. 9) Set measurable goals for decision making.

Data-driven 287

Data-driven Dashboards Visualization Cost-Benefit 287

Andrew White

JANUARY 11, 2021

As with any good consulting response, “it depends.” Do you recommend a consulting approach strategy rather than a CDO strategy? measuring value, prioritizing (where to start), and data literacy? Storytelling is a nice one to use early on to test the approach. Any of these approaches can be used in a consultative manner.

Data Analytics 52

Data Analytics Analytics Data-driven Finance 52