Remove Data-driven Remove IT Remove Modeling Remove Predictive Modeling
article thumbnail

What is Model Risk and Why Does it Matter?

DataRobot Blog

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. When business decisions are made based on bad models, the consequences can be severe. When business decisions are made based on bad models, the consequences can be severe.

Risk 111
article thumbnail

IT leaders get creative to fill data science gaps

CIO Business Intelligence

For the past few years, IT leaders at a US financial services company have been struggling to hire data scientists to harness the increasing flood of incoming data that, if used properly, could improve customer experience and drive new products. It’s exponentially harder when it comes to data scientists.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is predictive analytics? Transforming data into future insights

CIO Business Intelligence

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. from 2022 to 2028.

article thumbnail

Assisted Predictive Analytics Benefits All Team Members!

Smarten

Investment in predictive analytics benefits everyone in the organization, including business users and team members, data scientists and the organization in general. Predictive analytics provides support for data-driven, fact-based decisions and enables insight, perspective and clarity for improved business agility and efficiency.

article thumbnail

Sensors, signals and synergy: Enhancing Downer’s data exploration with IBM

IBM Big Data Hub

With over 200 trains and a multitude of sensors, Downer has accumulated a vast amount of data. Fine-tuning data insights with enhanced collaboration and expertise Downer continuously works to enhance operational efficiency, minimizing maintenance costs and impacts to transportation schedules.

article thumbnail

Essential skills and traits of chief AI officers

CIO Business Intelligence

They should lead the efforts to tie AI capabilities to data analytics and business process strategies and champion an AI-first mindset throughout the organization. They also need to understand the vitality of quality data for AI success, as well as governance frameworks to ensure responsible and ethical use of AI.

article thumbnail

The top 15 big data and data analytics certifications

CIO Business Intelligence

Data and big data analytics are the lifeblood of any successful business. Getting the technology right can be challenging but building the right team with the right skills to undertake data initiatives can be even harder — a challenge reflected in the rising demand for big data and analytics skills and certifications.

Big Data 126