O'Reilly on Data

MARCH 31, 2020

Because it’s so different from traditional software development, where the risks are more or less well-known and predictable, AI rewards people and companies that are willing to take intelligent risks, and that have (or can develop) an experimental culture. What delivers the greatest ROI? How do you select what to work on?

Management 332

Management Machine Learning Experimentation Metrics 332

Smart Data Collective

JUNE 15, 2022

Accurate client data collection and analysis are critical to maximizing all of these activities. This tailored method outperforms allocating advertising expenditures over a variety of channels without analyzing each channel’s performance in terms of ROI and client acquisition cost. Better Understand Customer Demographics.

Advertising 99

Advertising Cost-Benefit ROI Sales 99

Smart Data Collective

SEPTEMBER 4, 2020

Google has shown how to use big data effectively for decision-making , but many other companies don’t understand the principles to follow. Far too many businesses fail to develop a sensible data strategy, so their ROI from their data collection methodologies is often subpar. Guide to Creating a Big Data Strategy.

Data-driven 88

Data-driven Big Data Metrics Strategy 88

BA Learnings

AUGUST 7, 2021

In addition to that, the risk assessment will not be carried out properly, and you won’t know what pitfalls lie ahead until you’re already knee-deep in the problem. However, after putting in place infrastructure for this database, you realize you need to improve your data collection methods.

Digital Transformation 130

Digital Transformation Key Performance Indicator Cost-Benefit KPI 130

Domino Data Lab

MAY 15, 2019

PMs can leverage that intuition to calibrate the tradeoffs of various approaches given their company’s data “and how it can be used to solve customer problems.” The last step for a PM is to “use derived data from the system to build new products” as this provides another way to ensure ROI across the business.

Machine Learning 111

Machine Learning Management Experimentation Uncertainty 111

erwin

DECEMBER 20, 2018

The driving factors behind data governance adoption vary. Whether implemented as preventative measures (risk management and regulation) or proactive endeavors (value creation and ROI), the benefits of a data governance initiative is becoming more apparent. Data governance’s importance has become more widely understood.

Data Governance 40

Data Governance ROI Risk Management Metadata 40

BizAcuity

FEBRUARY 22, 2019

Financial Analytics solutions are benefiting organizations across sectors through a combination of cost savings, organizational alignment and the enablement of high value business risk analysis that was not previously attainable by the finance functions of an organization. Financial Analytics in Event Management Industry – A summary.

Analytics 75

Analytics Cost-Benefit Finance Sales 75

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 57

Data mining Machine Learning Deep Learning Marketing 57

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 87

Cost-Benefit Insurance Unstructured Data Machine Learning 87

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

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

FineReport

MAY 31, 2023

Dupont Analysis Dashboard FineReport simplifies the implementation of the Dupont analysis model, enabling an in-depth examination of an enterprise’s financial condition through Return on Investment (ROI). Protecting data integrity, confidentiality, and compliance with regulatory requirements pose significant challenges.

Dashboards 52

Dashboards Key Performance Indicator Metrics Visualization 52

Alation

FEBRUARY 20, 2020

For example, a risk insurance company that has sensitive customer information and transactional data, can store that information in an on-premise system. The cloud could then be leveraged for burst out scenarios, such as processing and adjusting risk policies around a real-time event (e.g. Conclusion.

Data Lake 52

Data Lake ROI Metadata Cost-Benefit 52

CIO Business Intelligence

JANUARY 3, 2024

According to Rapos, early incorporation allows for better data collection, more accurate modeling, and immediate feedback during the construction or development phase. Ask the hard questions of the digital twin In addition to all of the above, it’s important to consider the ROI of the digital twin.

Cost-Benefit 128

Cost-Benefit ROI Manufacturing Optimization 128

IBM Big Data Hub

MARCH 26, 2024

Businesses cannot prove there is no forced labor in their supply chain without working with procurement—to understand their supplier base, where they are located, and what might be high risk—let alone solution to embed proactive risk management in vendor onboarding.

Measurement 66

Measurement Metrics Strategy Reporting 66

IBM Big Data Hub

AUGUST 11, 2023

Consider the potential return on investment (ROI) based on improved productivity, reduced downtime and enhanced efficiency. Taking MES software to the next level A manufacturing execution system (MES) is an important means of data collection and an important part of digital transformation for manufacturers.

Software 73

Software Manufacturing Cost-Benefit ROI 73

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

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. He talked about the risks of reductionism and Descartes’ questionable legacy. Ergo, less interpretable.

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

Domino Data Lab

FEBRUARY 4, 2019

Eric’s article describes an approach to process for data science teams in a stark contrast to the risk management practices of Agile process, such as timeboxing. As the article explains, data science is set apart from other business functions by two fundamental aspects: Relatively low costs for exploration. Why does this matter?

Data Science 66

Data Science Experimentation Data-driven Machine Learning 66

datapine

OCTOBER 14, 2020

The point of such dashboards is not to simplify the working environment and analysis processes since there are massive volumes of data collected on a daily level, and companies need solutions that will bring them to the right answer at the right time. They provide ROI by quickly highlighting trends and dig out irregularities.

Dashboards 235

Dashboards Interactive Reporting KPI 235

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

Jet Global

MAY 15, 2020

Return on Investment (ROI) – This financial performance indicator measures the amount of money an investment has made relative to the cost of the investment. As such, it can be concluded that the higher the ratio, the higher the risk to shareholders. Return on Equity = Net Income / Average Shareholders’ Equity. Instant updates.

Metrics 98

Metrics Finance Reporting KPI 98

Andrew White

JANUARY 9, 2022

We have various tools, best practices and techniques to help explore the ROI for a range of D&A investments. We also have same for how to possibly value data assets themselves, what some might call monetization. Are their best practices on how to pin point the data points and most effective data collecting practices?

Analytics 64

Analytics Measurement Modeling Data-driven 64

Domino Data Lab

JUNE 23, 2019

And then you’ll do a lot of work to get it out and then there’ll be no ROI at the end. If you have a user facing product, the data that you had when you prototype the model may be very different from what you actually have in production. The biggest time sink is often around data collection, labeling and cleaning.

Management 110

Management Machine Learning Experimentation Metrics 110

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. Improved risk management: Another great benefit from implementing a strategy for BI is risk management. Indeed, every year low-quality data is estimated to cost over $9.7

Business Intelligence 218

Business Intelligence Strategy Cost-Benefit Key Performance Indicator 218

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. Leaders are 7.9x

Machine Learning 189

Machine Learning Metrics Reporting Internet of Things 189

Occam's Razor

MARCH 23, 2010

Having two tools guarantees you are going to be data collection, data processing and data reconciliation organization. Yet case studies in some sense reduced risk, even if they were simply over blown marketing fluff written by the vendor. There is such little risk to actually trying. Neither do you.

Analytics 118

Analytics Consulting Metrics Experimentation 118

Alation

FEBRUARY 1, 2022

A new research report by Ventana Research, Embracing Modern Data Governance , shows that modern data governance programs can drive a significantly higher ROI in a much shorter time span. Historically, data governance has been a manual and restrictive process, making it almost impossible for these programs to succeed.

Data Lake 52

Data Lake Data Governance ROI Cost-Benefit 52

IBM Big Data Hub

AUGUST 4, 2023

Key considerations for data democratization As more organizations seek to evolve toward a culture of data democratization and build the architecture to support a data literate culture, they’ll realize several benefits—and encounter a few challenges along the way.

Data Architecture 64

Data Architecture Data Lake Machine Learning Data Governance 64

Jet Global

APRIL 14, 2022

Deep, proactive analysis is crucial for making key business decisions that benefit profitability, increase ROI, and reduce costly errors. Having accurate data is crucial to this process, but finance teams struggle to easily access and connect with data. Reduce the risk of human error. Improve data quality.

Data Collection 52

Data Collection Management Finance Reporting 52

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