IBM Big Data Hub

FEBRUARY 14, 2024

By infusing AI into IT operations , companies can harness the considerable power of NLP, big data, and ML models to automate and streamline operational workflows, and monitor event correlation and causality determination. AIOps is one of the fastest ways to boost ROI from digital transformation investments.

Cost-Benefit 88

Cost-Benefit Insurance Unstructured Data Machine Learning 88

O'Reilly on Data

MARCH 31, 2020

At measurement-obsessed companies, every part of their product experience is quantified and adjusted to optimize user experience. These companies eventually moved beyond using data to inform product design decisions. That foundation means that you have already shifted the culture and data infrastructure of your company.

Management 332

Management Machine Learning Experimentation Metrics 332

DataKitchen

MARCH 16, 2023

Metric Number One: Errors Reducing errors in data analytics is crucial for ensuring the accuracy and reliability of the insights generated by the team. Errors can originate from various sources, including data collection, integration, models, visualization, governance, and security. A simple way is the idea of a ‘story point.’

Metrics 130

Metrics Data Analytics Analytics Measurement 130

Smart Data Collective

OCTOBER 30, 2019

There are a number of tactics that marketers can pursue to optimize campaigns with machine learning algorithms. Big data technology has introduced a number of solutions for the marketing profession. Use artificial intelligence tools that rely on machine learning to optimize content for different visitors.

Machine Learning 73

Machine Learning Advertising Big Data Marketing 73

Smart Data Collective

MAY 6, 2021

Facebook retargeting should be a priority with how you manage your data collection. Embracing its use will optimize the most important part of your business. Once you get the hang of things, your ROI will reach a whole new level. An email list with decent accuracy can be a valuable asset for remarketing or retargeting.

Advertising 70

Advertising Sales Marketing ROI 70

IBM Big Data Hub

AUGUST 28, 2023

Information retrieval The first step in the text-mining workflow is information retrieval, which requires data scientists to gather relevant textual data from various sources (e.g., The data collection process should be tailored to the specific objectives of the analysis.

Data mining 58

Data mining Machine Learning Deep Learning Marketing 58

Sisense

SEPTEMBER 3, 2020

Overall, however, what often characterizes them is a focus on data collection, manipulation, and analysis, using standard formulas and methods, and acting as gatekeepers of an organization’s data. Data analysts might report to a CIO, a Chief Data Officer (CDO), or possibly to a data scientist or business analyst team leader.

Statistics 97

Statistics Metrics Visualization Finance 97

FineReport

MAY 31, 2023

Contemporary dashboards surpass basic visualization and reporting by utilizing financial analytics to amalgamate diverse financial and accounting data, empowering analysts to delve further into the data and uncover valuable insights that can optimize cost-efficiency and enhance profitability.

Dashboards 52

Dashboards Key Performance Indicator Metrics Visualization 52

CIO Business Intelligence

JANUARY 3, 2024

These objections often include, “But we’ve always done it this way” (resistance to change), “It works just fine as is” (accepting the status quo which may be a sub-optimal solution), “Let’s wait until post-build” (pushing things off until later), “Let’s start with the metaverse” (being distracted by shiny objects), and more.

Cost-Benefit 135

Cost-Benefit ROI Manufacturing Optimization 135

Alation

FEBRUARY 20, 2020

Not only can resources be quickly provisioned and optimized for different workloads and processing needs, but it can be done cost effectively. With an on-premise deployment, enterprises have full control over data security, data access, and data governance. Get the latest data cataloging news and trends in your inbox.

Data Lake 52

Data Lake ROI Metadata Cost-Benefit 52

IBM Big Data Hub

AUGUST 11, 2023

MES systems can assist managers with process management and process control, helping to facilitate optimal performance of manufacturing. By facilitating optimized production planning and scheduling, these systems ensure efficient resource allocation, workload balancing and on-time deliveries, leading to improved profitability.

Software 75

Software Manufacturing Cost-Benefit ROI 75

Occam's Razor

APRIL 13, 2015

And, that's not all, when you consider that it is segmented data, across multiple dimensions, it really is impressive. But, I'm a big believer in optimizing data access to be at the right time as defined by your decision-making/action-taking speeds inside your company. You can see what's happening right now.

Analytics 155

Analytics Reporting Metrics Slice and Dice 155

IBM Big Data Hub

SEPTEMBER 11, 2023

The team implemented a phased approach to the human-centered design assessment, which led to a data-driven roadmap of recommended technological enhancements. Each recommendation was grounded in the user research conducted and validated to render significant return on investment (ROI) to the business mission of AZDCS.

Data-driven 89

Data-driven IT Measurement Cost-Benefit 89

IBM Big Data Hub

MARCH 26, 2024

Generative AI can unlock productivity potential, accelerating data collection and ingestion reconciliation. As an example, instead of sustainability teams manually collecting and reviewing paper fuel receipts, technology can help translate receipt images into the necessary data elements for fuel-related metrics.

Measurement 66

Measurement Metrics Strategy Reporting 66

datapine

JULY 6, 2022

When compared to some of the other examples in this post, the satisfaction KPI can be a bit harder to measure as it requires a different approach to data collection such as performing a feedback survey to your clients. First Pass Yield (FPY). Following the same line as our previous example, we have the first pass yield (FPY).

Measurement 243

Measurement Metrics KPI Sales 243

datapine

JUNE 4, 2020

A chief technology officer (also referred to as chief technical officer or chief technologist), has an immense responsibility to drive a company forward and lead the technological advancements, research, development, and management in order to generate business value and increase the return on investment (ROI).

Dashboards 130

Dashboards Reporting Metrics Visualization 130

Domino Data Lab

MAY 8, 2019

The lens of reductionism and an overemphasis on engineering becomes an Achilles heel for data science work. Instead, consider a “full stack” tracing from the point of data collection all the way out through inference. data collection”) show the “process” steps that a team performs, while the boxes (e.g.,

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

Occam's Razor

JANUARY 30, 2012

I can analyze and then identify an specific optimization/engagement strategy to reduce bounce rates. Or open the new search engine optimization reports in Google Analytics , for your Queries look at Impression and try Comparison for CTR. With those insights, I can go and optimize my key pages for my individual business goals.

Analytics 145

Analytics Dashboards Metrics Key Performance Indicator 145

Occam's Razor

AUGUST 13, 2012

Bjoern Sjut3: My main issue at the moment: How will multi-channel funnels and ROI calculations work in a multi device world? If your wish in the second part is to track effectiveness of advertising ( how to determine ROI ) then please see this post: Measuring Incrementality: Controlled Experiments to the Rescue! That is the solution.

Modeling 124

Modeling Metrics Data Quality Data-driven 124

Domino Data Lab

FEBRUARY 4, 2019

Of course, some questions in business cannot be answered with historical data. Instead they require investment, tooling, and time for data collection. Given the two points above, that’s okay—there are good ways to direct data exploration toward ROI. Why does this matter? You’ll need to read the papers.

Data Science 66

Data Science Experimentation Data-driven Machine Learning 66

Occam's Razor

OCTOBER 19, 2010

If after rigorous analysis you have determined that you have evolved to a stage that you need a data warehouse then you are out of luck with Yahoo! If you can show ROI on a DW it would be a good use of your money to go with Omniture Discover, WebTrends Data Mart, Coremetrics Explore. Google Website Optimizer. Three tools.

Analytics 135

Analytics Testing Measurement Optimization 135

Occam's Razor

APRIL 21, 2014

Grow traffic first, with even with bad measurement I can find positive ROI areas for growth or invest time getting Analytics in order first for more objective decision making? Identify where your company is currently, what the next optimal step is in the ladder and give it all your attention in terms of data analysis or analytics code fixes.

Marketing Analytics 131

Marketing Analytics Marketing Analytics Measurement 131

Andrew White

JANUARY 9, 2022

See Align D&A With Value Streams to Optimize Decision Making and Business Value Creation and Toolkit: Use Value Stream Mapping to Optimize Your Product Information Supply Chain. We have various tools, best practices and techniques to help explore the ROI for a range of D&A investments. There are too many to list really.

Analytics 64

Analytics Measurement Modeling Data-driven 64

Domino Data Lab

MARCH 3, 2019

Then, when we received 11,400 responses, the next step became obvious to a duo of data scientists on the receiving end of that data collection. Over the past six months, Ben Lorica and I have conducted three surveys about “ABC” (AI, Big Data, Cloud) adoption in enterprise.

Data Science 49

Data Science Deep Learning Machine Learning Modeling 49

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. As mentioned above, one of the great benefits of business intelligence and analytics is the ability to make informed data-based decisions.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

Rocket-Powered Data Science

JULY 21, 2023

as likely to say that their ROI on observability tools far exceeded expectations. From these data streams, real-time actionable insights can feed decision-making and risk mitigations at the moment of need. This is a physical device, in the IoT (Internet of Things) family of sensors, that collects and streams data from the edge (i.e.,

Machine Learning 189

Machine Learning Metrics Reporting Internet of Things 189

Domino Data Lab

JUNE 23, 2019

Google, Facebook, other leaders, they really have set up a culture of extreme measurement where every part of their product experience is instrumented to optimize clicks and drive user engagement. And then you’ll do a lot of work to get it out and then there’ll be no ROI at the end. To prioritize, how do we do this?

Management 110

Management Machine Learning Experimentation Metrics 110

Occam's Razor

MARCH 23, 2010

My problem with these mistruths and FUD is that they result in a ton of practitioners and companies making profoundly sub optimal choices, which in turn results in not just much longer slogs but also spectacular career implosions and the entire web analytics industry suffering. This is sad. Even a little frustrating. Aim for this.

Analytics 118

Analytics Consulting Metrics Experimentation 118

datapine

FEBRUARY 22, 2022

But the rewards outperform by far its costs, and it is well known that business intelligence ROI is real even if it is sometimes hard to quantify. We love that data is moving permanently into the C-Suite. Businesses deal with massive amounts of data from their users that can be sensitive and needs to be protected.

Business Intelligence 218

Business Intelligence Strategy Cost-Benefit Key Performance Indicator 218

IBM Big Data Hub

AUGUST 4, 2023

With data democratization in place, your company should have greater insights into the quality and availability of data to drive this process, and the ROI for each use case. MLOps creates a process where it’s easier to cull insights from business data.

Data Architecture 65

Data Architecture Data Lake Machine Learning Data Governance 65

Alation

AUGUST 2, 2022

Using Alation’s curated data catalog , the company’s California-based data analysts efficiently collaborated with their peers in the Philippines to optimize their analysis efforts. Alation helped to streamline the process, as the data catalog connects information, articles, and conversation with helpful metadata.

Strategy 52

Strategy Cost-Benefit Metrics Data Lake 52

Occam's Razor

FEBRUARY 9, 2015

How is competitive intelligence data collected? Competitive intelligence data will never match your site's analytics tool. CI data collection. How does any tool have access to your website or mobile app data? But in the lovely environment of the web there are a number of ways to collect your data.

Metrics 155

Metrics Reporting IT Advertising 155

Occam's Razor

APRIL 29, 2013

PS: The phrase "real-time data analysis" is an oxymoron. Real-time data is super valuable if zero human beings are involved from data collection to action being taken. By lowering your bounce rate all you managed to accomplish is get your ads created and targeted properly and optimize the landing pages.

Marketing 166

Marketing Metrics Advertising Measurement 166

Jet Global

MAY 1, 2023

Return on Investment Now we bring it all together to calculate the ROI on embedded analytics. Costs: The investment in developing and maintaining the solution. “-1”: The formula assures that a positive ROI is achieved only when benefits exceed the costs. The formula looks like this: ($750k / $250k) = 3, so the ROI is 200 percent.

Analytics 52

Analytics Cost-Benefit Visualization Dashboards 52