DataRobot Blog

AUGUST 18, 2022

Challenges in inventory management, demand forecasting, price optimization, and more can result in missed opportunities and lost revenue. According to McKinsey & Company, organizations that implement AI improve logistics costs by 15%, inventory levels by 35%, and service levels by 65% 2. Benefits of AI in Supply Chain.

Manufacturing 98

Manufacturing Cost-Benefit Forecasting Data-driven 98

CIO Business Intelligence

APRIL 5, 2022

For some, leveraging data and analytics tools is proving to be an effective way to address the challenges. Here’s how three organizations are succeeding at using data analytics to improve supply chain operations. By being able to perform these types of analyses it consistently helps to reduce costs,” Korba says.

Analytics 144

Analytics Cost-Benefit Forecasting Manufacturing 144

datapine

JUNE 15, 2023

In the past, these reports were used after a month or even a year since the data being displayed was generated. Keep reading to find a definition, benefits, examples, and some key best practices to generate them successfully! Let’s dive deeper into the benefits below. What Is A Performance Report?

Reporting 207

Reporting Cost-Benefit Dashboards Sales 207

IBM Big Data Hub

MAY 14, 2024

Despite the headwinds, there are tailwinds in which we can use new technology to enable CFOs to perform in their business partnering roles and drive productivity, cost take out, accuracy, control and business value. There are benefits to being a consumer of AI but far greater benefits for being a value creator.

Finance 76

Finance Cost-Benefit Reporting Forecasting 76

IBM Big Data Hub

APRIL 25, 2024

BPR examples are not one-time projects, but rather examples of a continuous journey of innovation and change focused on optimizing end-to-end processes and eliminating redundancies. This blog outlines some BPR examples that benefit from a BPM methodology.

Cost-Benefit 63

Cost-Benefit Finance Optimization Key Performance Indicator 63

CIO Business Intelligence

FEBRUARY 10, 2023

Predictive analytics definition Predictive analytics is a category of data analytics aimed at making predictions about future outcomes based on historical data and analytics techniques such as statistical modeling and machine learning. billion in 2022, according to a research study published by The Insight Partners in August 2022.

Predictive Analytics 141

Predictive Analytics Analytics Predictive Modeling Forecasting 141

AWS Big Data

MAY 4, 2023

Encored Technologies (Encored) is an energy IT company in Korea that helps their customers generate higher revenue and reduce operational costs in renewable energy industries by providing various AI-based solutions. It allows for efficient data storage and transmission, as well as easy manipulation of the data using specialized software.

Data-driven 52

Data-driven Technology Cost-Benefit Machine Learning 52

datapine

APRIL 12, 2023

In November, while running an advertising campaign that cost $1,500, the retailer sells $20,000 worth of ethical sweaters online. As you’ve learned by now, when done correctly, incremental sales analysis can bring multiple benefits to your company. Your Chance: Want to boost your incremental sales using data?

Sales 176

Sales KPI Metrics Cost-Benefit 176

Cloudera

JANUARY 30, 2024

As we navigate the fourth and fifth industrial revolution, AI technologies are catalyzing a paradigm shift in how products are designed, produced, and optimized. But with this data — along with some context about the business and process — manufacturers can leverage AI as a key building block to develop and enhance operations.

Manufacturing 77

Manufacturing Contextual Data IoT Digital Transformation 77

DataRobot

OCTOBER 18, 2021

Will consumer behavior change when inflexible data-driven AI systems are the norm? ” Since some consumers receive noneconomic benefits from bargaining, organizations should think twice before implementing rigid processes where staff and customers have no control over the outcomes. Algorithm Aversion. Augmented Humans.

Forecasting 145

Forecasting Digital Transformation Cost-Benefit Data-driven 145

CIO Business Intelligence

OCTOBER 6, 2023

Business analysts (BAs) are responsible for bridging the gap between IT and the business using data analytics to assess processes, determine requirements, and deliver data-driven recommendations and reports to executives and stakeholders.

IT 128

IT Business Analysis Key Performance Indicator Cost-Benefit 128

IBM Big Data Hub

FEBRUARY 14, 2024

Promote cross- and up-selling Recommendation engines use consumer behavior data and AI algorithms to help discover data trends to be used in the development of more effective up-selling and cross-selling strategies, resulting in more useful add-on recommendations for customers during checkout for online retailers.

Cost-Benefit 89

Cost-Benefit Insurance Unstructured Data Machine Learning 89

IBM Big Data Hub

JUNE 29, 2023

Integrated planning incorporates supply chain planning, demand planning, and demand forecasts so the company can quickly assess the impact on inventory levels, supply chain logistics, production plans, and customer service capacity. Data integration and analytics IBP relies on the integration of data from different sources and systems.

Key Performance Indicator 85

Key Performance Indicator Forecasting Data Integration Sales 85

FineReport

APRIL 9, 2024

Evolving BI Tools in 2024 Significance of Business Intelligence In 2024, the role of business intelligence software tools is more crucial than ever, with businesses increasingly relying on data analysis for informed decision-making.

Business Intelligence 52

Business Intelligence Software Data-driven Predictive Modeling 52

Smart Data Collective

AUGUST 30, 2022

Companies spent over $240 billion on big data analytics last year. That figure is expected to grow as more businesses discover its benefits. There are many important applications of data analytics technology. Analytics technology can help companies optimize their prices more effectively. Cost-Plus Pricing.

B2B 131

B2B Analytics Cost-Benefit Metrics 131

datapine

NOVEMBER 5, 2019

Studies suggest that businesses that adopt a data-driven marketing strategy are likely to gain an edge over the competition and in turn, increase profitability. In fact, according to eMarketer, 40% of executives surveyed in a study focused on data-driven marketing, expect to “significantly increase” revenue. Still unsure?

Dashboards 220

Dashboards Cost-Benefit Sales Metrics 220

Smart Data Collective

SEPTEMBER 28, 2021

Benefits of AI and IoT in Businesses. The advantages of IoT and AI could be combined to reap the full benefits of both. Security and protection are the most important aspects for a business, given the recent growth in data thefts and loss of valuable data. The following elucidates the same: l Improved Protective Measures.

IoT 132

IoT Internet of Things Cost-Benefit Consulting 132

datapine

JUNE 5, 2019

“It is a capital mistake to theorize before one has data.”– Data is all around us. Data has changed our lives in many ways, helping to improve the processes, initiatives, and innovations of organizations across sectors through the power of insight. Let’s kick things off by asking the question: what is a data dashboard?

Dashboards 316

Dashboards KPI Sales Visualization 316

FineReport

MAY 18, 2024

Data visualization techniques are paramount in today’s data-driven world. Mastering data visualization techniques is not just a skill but a necessity for professionals across various industries. Increased Efficiency : Visualizing data streamlines processes by highlighting key points efficiently.

Visualization 52

Visualization Interactive Cost-Benefit Dashboards 52

CIO Business Intelligence

OCTOBER 23, 2023

In today’s uncertain economic landscape, it is no surprise that organizations are driven to optimize business costs. All of these present challenges for IT professionals within their day-to-day activities in data centers. Disposing of such equipment responsibly can be a complex and costly process. Full report.

Cost-Benefit 91

Cost-Benefit Uncertainty Digital Transformation Optimization 91

DataRobot

JANUARY 25, 2022

Time series projects are among the most challenging in the world of data science today. But for organizations striving to become AI-driven, understanding how to approach those projects is essential. While traditional modeling relies on classification, regression, and static data, the data for time series is far more fluid.

Forecasting 52

Forecasting Cost-Benefit Data-driven Data Science 52

CIO Business Intelligence

SEPTEMBER 7, 2023

First, there is the need to properly handle the critical data that fuels defense decisions and enables data-driven generative AI. Organizations need novel storage capabilities to handle the massive, real-time, unstructured data required to build, train and use generative AI. billion by 2032.

Unstructured Data 108

Unstructured Data Cost-Benefit Risk Data-driven 108

FineReport

APRIL 9, 2024

Understanding Healthcare BI Tools The Role of Healthcare BI Tools Healthcare BI tools are instrumental in revolutionizing decision-making processes and patient care through the utilization of advanced data analysis and technology.

Digital Transformation 52

Digital Transformation Business Intelligence Data-driven Visualization 52

Smart Data Collective

MARCH 27, 2023

billion on AI in 2021 , but small businesses may spend even more on AI-driven financial management software. Some of the benefits of AI in banking include: Banks use AI bots to onboard clients and analyze borrower risk. Many small businesses are investing in AI-driven financial management software. It sounds expensive.

Software 88

Software Finance Cost-Benefit Data-driven 88

Smart Data Collective

APRIL 10, 2020

Machine learning is helping companies in every sector optimize their business models. We want to cover the costs of both job scheduling and appointment scheduling issues in this post. Fortunately, new big data technology can address all of them. Big data has made creating custom accounting software easier than ever.

Machine Learning 112

Machine Learning Cost-Benefit Big Data Forecasting 112

IBM Big Data Hub

DECEMBER 5, 2023

With the rise of highly personalized online shopping, direct-to-consumer models, and delivery services, generative AI can help retailers further unlock a host of benefits that can improve customer care, talent transformation and the performance of their applications. The impact of these investments will become evident in the coming years.

Unstructured Data 95

Unstructured Data Cost-Benefit Experimentation Machine Learning 95

Ontotext

APRIL 6, 2023

Knowledge graphs are changing the game A knowledge graph is a data model that uses semantics to represent real-world entities and the relationships between them. It can apply automated reasoning to extract further knowledge and make new connections between different pieces of data. Manufacturing and Industry 4.0

Manufacturing 83

Manufacturing Cost-Benefit Knowledge Discovery Optimization 83

CIO Business Intelligence

AUGUST 17, 2022

In less than five minutes, you can take hold of useful and relevant information that will help you make more insights-driven decisions over the next six months. Trend #1: Critical nature of data and cyber resilience in the face of increasing cyberattacks. Cybercrime cost U.S. businesses more than $6.9

Enterprise 102

Enterprise Cost-Benefit Snapshot Data-driven 102

CIO Business Intelligence

JUNE 2, 2022

Among the hot technologies, artificial intelligence and machine learning — a subset of AI that that makes more accurate forecasts and analysis as it ingests data — continue to be of high interest as banks keep a strong focus on costs while trying to boost customer experience and revenue. AI enhances operational efficiency.

Predictive Analytics 143

Predictive Analytics Technology Analytics Machine Learning 143

IBM Big Data Hub

JULY 26, 2023

The aim is to optimize resource allocation by ensuring funds are allocated to activities that align with strategic objectives and generate the highest value. By requiring a fresh evaluation of all expenses, Pyhrr aimed to eliminate unnecessary costs, identify inefficiencies, and promote a more focused use of resources.

Cost-Benefit 62

Cost-Benefit Optimization Visualization Data-driven 62

IBM Big Data Hub

AUGUST 16, 2023

There are many reasons why organizations have embraced cloud services, including improved efficiencies, cost savings, scalability, flexibility and quicker time-to-market. In addition, companies can run up cloud costs because they provision more resources than necessary for their normal business functions.

Cost-Benefit 70

Cost-Benefit Data Processing Optimization Software 70

Sisense

JANUARY 26, 2020

In Moving Parts , we explore the unique data and analytics challenges manufacturing companies face every day. It requires a skilled data team, advanced tools, and enormous amounts of clean data from the right combination of inputs. The process of producing goods is an enormous opportunity for data optimization.

Predictive Analytics 78

Predictive Analytics Manufacturing Analytics Forecasting 78

Sisense

MARCH 7, 2021

To get truly powerful insights, you need to pull in data from multiple sources. Additional data sources increase your chances to inform actions, fueling top-line and bottom-line growth. Read on to find out how Measuremen optimizes workspace utilization, Skullcandy minimizes product returns, and Air Canada improves airline safety.

Slice and Dice 98

Slice and Dice Data-driven Cost-Benefit Forecasting 98

IBM Big Data Hub

FEBRUARY 23, 2024

DL models can improve over time through further training and exposure to more data. Predictive analytics integrates with NLP, ML and DL to enhance decision-making capabilities, extract insights, and use historical data to forecast future behavior, preferences and trends.

Enterprise 107

Enterprise Interactive Data-driven Key Performance Indicator 107

Cloudera

AUGUST 3, 2021

In summary, predicting future supply chain demands using last year’s data, just doesn’t work. Accurate demand forecasting can’t rely upon last year’s data based upon dated consumer preferences, lifestyle and demand patterns that just don’t exist today – the world has changed.

Analytics 108

Analytics Digital Transformation Risk Forecasting 108

IBM Big Data Hub

NOVEMBER 30, 2023

A talent acquisition strategy is a comprehensive plan an organization develops to optimize its talent acquisition—the identification, attraction and retention of the right talent. Highlight the unique benefits, opportunities, and culture. Describe the application process.

Strategy 70

Strategy Cost-Benefit Consulting Data-driven 70

CIO Business Intelligence

MARCH 9, 2022

Despite the worldwide chaos, UAE national airline Etihad has managed to generate productivity gains and cost savings from insights using data science. Etihad began its data science journey with the Cloudera Data Platform and moved its data to the cloud to set up a data lake. A change was needed. Talal Mufti.

Data Science 90

Data Science Data Lake Cost-Benefit Digital Transformation 90