Corinium

JUNE 6, 2019

For instance, for a variety of reasons, in the short term, CDAOS are challenged with quantifying the benefits of analytics’ investments. Also, design thinking should play a large role in analytics in terms of how it will benefit the organization and exactly how people will react to and adopt the resulting insights.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

IBM Big Data Hub

APRIL 18, 2024

While these large language model (LLM) technologies might seem like it sometimes, it’s important to understand that they are not the thinking machines promised by science fiction. Most experts categorize it as a powerful, but narrow AI model. A key trend is the adoption of multiple models in production.

Cost-Benefit 96

Cost-Benefit Modeling Manufacturing Interactive 96

Occam's Razor

SEPTEMBER 19, 2011

How do you get over the frustration of having done attribution modeling and realizing that it is not even remotely the solution to your challenge of using multiple media channels? We'll measure Revenue, Profit (the money we make less cost of goods sold), Expense (cost of campaign), Net (bottom-line impact).

Measurement 119

Measurement Advertising Testing Marketing 119

Ontotext

NOVEMBER 2, 2023

It can be accomplished at a fraction of the cost of what organizations spend each year supporting the vast industry of data integration workarounds. However, it will take effort to formalize a shared semantic model that can be mapped to data assets, and turn unstructured data into a format that can be mined for insight.

IT 69

IT Cost-Benefit Data-driven Technology 69

Jedox

SEPTEMBER 11, 2019

Experimental” Technology. Is AI truly experimental technology? Just a few years ago, you had to purchase expensive hardware and software and hire a data scientist to build a model that today is most likely available “out of the box.” The earlier you start, the more benefit your organization will be able to obtain.

Forecasting 59

Forecasting Experimentation Sales Unstructured Data 59

CIO Business Intelligence

AUGUST 17, 2023

“Since the middle of last year, we’ve been analyzing the potential impact, opportunities, and risks of the speed of innovation in this area, as well as introduced policies and implemented measures to minimize risks,” he says. That said, I believe once these barriers are overcome, benefits-led implementation will be swift.”

Risk 98

Risk Cost-Benefit Strategy Experimentation 98

Occam's Razor

MAY 22, 2006

This post is a primer on the delightful world of testing and experimentation (A/B, Multivariate, and a new term from me: Experience Testing). Experimentation and testing help us figure out we are wrong, quickly and repeatedly and if you think about it that is a great thing for our customers, and for our employers. Counter claims?

Experimentation 103

Experimentation Testing Optimization Measurement 103

CIO Business Intelligence

MAY 1, 2024

Gen AI takes us from single-use models of machine learning (ML) to AI tools that promise to be a platform with uses in many areas, but you still need to validate they’re appropriate for the problems you want solved, and that your users know how to use gen AI effectively. Pilots can offer value beyond just experimentation, of course.

Cost-Benefit 140

Cost-Benefit Metrics Insurance Measurement 140

O'Reilly on Data

SEPTEMBER 15, 2020

AI Benefits and Stakeholders. AI is a field where value, in the form of outcomes and their resulting benefits, is created by machines exhibiting the ability to learn and “understand,” and to use the knowledge learned to carry out tasks or achieve goals. AI-generated benefits can be realized by defining and achieving appropriate goals.

Cost-Benefit 293

Cost-Benefit Advertising ROI Machine Learning 293

Occam's Razor

AUGUST 12, 2013

than multi-channel attribution modeling. By the time you are done with this post you'll have complete knowledge of what's ugly and bad when it comes to attribution modeling. You'll know how to use the good model, even if it is far from perfect. Multi-Channel Attribution Models. Linear Attribution Model.

Modeling 161

Modeling Optimization Marketing Interactive 161

IBM Big Data Hub

OCTOBER 20, 2023

Artificial intelligence platforms enable individuals to create, evaluate, implement and update machine learning (ML) and deep learning models in a more scalable way. AI platforms assist with a multitude of tasks ranging from enforcing data governance to better workload distribution to the accelerated construction of machine learning models.

Machine Learning 79

Machine Learning Manufacturing Cost-Benefit Deep Learning 79

Cloudera

APRIL 26, 2023

With cloud operating models, decision making can be accelerated, leading to competitive advantages and increased revenue. It offers features such as data ingestion, storage, ETL, BI and analytics, observability, and AI model development and deployment. What business benefits do cloud native architectures deliver?

Cost-Benefit 63

Cost-Benefit Optimization Experimentation Software 63

CIO Business Intelligence

JUNE 6, 2023

And the market for doing so remains robust for corporations looking to make the most of the model. The implication is that while some businesses are cutting costs and many tech companies are announcing layoffs, forward-looking enterprises are investing and collaborating with startups. But CIOs should remain strategic.

Key Performance Indicator 105

Key Performance Indicator Cost-Benefit Enterprise Experimentation 105

The Unofficial Google Data Science Blog

DECEMBER 14, 2021

or "does this product change benefit users?" In this post, we discuss three types of uncertainty: Statistical uncertainty : the gap between the estimand , the unobserved property of the population we wish to measure, and an estimate of it from observed data. We start proxying this measurement via a rating task.

Uncertainty 56

Uncertainty Statistics Measurement Cost-Benefit 56

CIO Business Intelligence

JULY 8, 2022

After transforming their organization’s operating model, realigning teams to products rather than to projects , CIOs we consult arrive at an inevitable question: “What next?” Splitting these responsibilities without a clear vision and careful plan, however, can spell disaster, reversing the progress begotten by a new operating model.

Cost-Benefit 122

Cost-Benefit Measurement Modeling Metrics 122

The Unofficial Google Data Science Blog

JUNE 30, 2016

In an ideal world, experimentation through randomization of the treatment assignment allows the identification and consistent estimation of causal effects. Other estimators, such as those based on matching and subclassification, may benefit from the balancing property, but the discussion of those estimators is postponed to a later post.

Statistics 44

Statistics Optimization Modeling Experimentation 44

datapine

FEBRUARY 4, 2020

Management thinker Peter Drucker once stated, “if you can’t measure it, you can’t improve it” – and he couldn’t be more right. On the right side of this marketing report format, you can dig deeper into relevant costs: per lead, per MQL, SQL and customer as well as total costs and net income of each metric. click to enlarge**.

Reporting 280

Reporting Marketing Advertising Metrics 280

Cloudera

MARCH 2, 2022

Large user communities of analysts and developers benefit from Impala’s fast query execution, helping them get their work done more effectively. Experimental evaluation: We did extensive evaluation of the technique to see how it affects performance and memory utilization. Analytical SQL workloads use aggregates and joins heavily.

Data Warehouse 85

Data Warehouse Optimization Analytics Sales 85

Domino Data Lab

JUNE 23, 2019

Skomoroch proposes that managing ML projects are challenging for organizations because shipping ML projects requires an experimental culture that fundamentally changes how many companies approach building and shipping software. These measurement-obsessed companies have an advantage when it comes to AI.

Management 110

Management Machine Learning Experimentation Metrics 110

Occam's Razor

AUGUST 13, 2012

Yehoshua Coren: Best ways to measure user behavior in a multi-touch, multi-device digital world. Yehoshua I've covered this topic in detail in this blog post: Multi-Channel Attribution: Definitions, Models and a Reality Check. What's possible to measure. What's not possible to measure. Let's do this!

Modeling 124

Modeling Metrics Data Quality Data-driven 124

Corinium

APRIL 25, 2019

For example, P&C insurance strives to understand its customers and households better through data, to provide better customer service and anticipate insurance needs, as well as accurately measure risks. This is a much more proactive and scalable model. The 2nd biggest mistake, I’ll call it “silo mentality”. That’s the reward.

Insurance 150

Insurance Risk IoT Cost-Benefit 150

AWS Big Data

NOVEMBER 14, 2023

With data streaming, you can power data lakes running on Amazon Simple Storage Service (Amazon S3), enrich customer experiences via personalization, improve operational efficiency with predictive maintenance of machinery in your factories, and achieve better insights with more accurate machine learning (ML) models.

IoT 55

IoT Data-driven Data Lake Data Strategy 55

AWS Big Data

JULY 26, 2023

Exploring the vector engine’s capabilities Built on OpenSearch Serverless, the vector engine inherits and benefits from its robust architecture. The vector engine’s compute capacity used for data ingestion, and search and query are measured in OpenSearch Compute Units (OCUs). The second is to initially provision a 0.5

Metadata 52

Metadata Cost-Benefit Testing Metrics 52

Occam's Razor

JULY 18, 2011

The only requirement is that your mental model (and indeed, company culture) should be solidly rooted in permission marketing. You just have to have the right mental model (see Seth Godin above) and you have to… wait for it… wait for it… measure everything you do! Just to ensure you are executing against your right mental model.

Metrics 137

Metrics Marketing Measurement Cost-Benefit 137

Occam's Razor

SEPTEMBER 15, 2014

But why blame others, in this post let's focus on one important reason whose responsibility can be squarely put on your shoulders and mine: Measurement. Create a distinct mobile website and mobile app measurement strategies. Media-Mix Modeling/Experimentation. Remember my stress earlier on measuring micro-outcomes?).

Metrics 141

Metrics Reporting Analytics Marketing 141

The Unofficial Google Data Science Blog

OCTOBER 21, 2015

It is important to make clear distinctions among each of these, and to advance the state of knowledge through concerted observation, modeling and experimentation. Worse, the community may act on these ambiguous explanations, incurring real costs. We sliced and diced the experimental data in many many ways.

Slice and Dice 45

Slice and Dice Experimentation Data-driven Data Science 45

Domino Data Lab

AUGUST 26, 2019

Data scientists, machine learning (ML) researchers, and business stakeholders have a high-stakes investment in the predictive accuracy of models. Data scientists and researchers ascertain predictive accuracy of models using different techniques, methodologies, and settings, including model parameters and hyperparameters.

Testing 79

Testing Modeling Machine Learning Metrics 79

datapine

JANUARY 31, 2022

Because things are changing and becoming more competitive in every sector of business, the benefits of business intelligence and proper use of data analytics are key to outperforming the competition. It will ultimately help them spot new business opportunities, cut costs, or identify inefficient processes that need reengineering.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

The Unofficial Google Data Science Blog

OCTOBER 12, 2017

We data scientists now have access to tools that allow us to run a large numbers of experiments, and then to slice experimental populations by any combination of dimensions collected. Make experimentation cheap and understand the cost of bad decisions. This leads to the proliferation of post hoc hypotheses. What is to be done?

Experimentation 61

Experimentation Testing Statistics Metrics 61

O'Reilly on Data

MAY 11, 2020

Not all models are created equal, however: they operate on different principles, and impact us as individuals and communities in different ways. To understand the menagerie of models that are fundamentally altering our individual and shared realities, we need to build a typology, a classification of their effects and impacts.

Modeling 190

Modeling Advertising Recreation/Entertainment Metrics 190