DataRobot

APRIL 26, 2021

Demand forecasting is a common Time Series use case in DataRobot. Using historical sales data, together with data related to product features, calendar of events, and economic indicators, we can produce forecasts of future demand. To improve the performance of such demand forecasting models, we can use several modeling techniques.

Forecasting 59

Forecasting Sales Data-driven Modeling 59

Smart Data Collective

JUNE 18, 2021

National Institute of Justice’s (NIJ) “ Recidivism Forecasting Challenge ” (the Challenge) aims to increase public safety and improve the fair administration of justice across the United States. NIJ will evaluate all entries on how accurately they forecast the outcome of recidivism. In accordance with priorities set by the U.S.

Predictive Analytics 67

Predictive Analytics Forecasting Analytics Big Data 67

Smart Data Collective

JANUARY 14, 2021

Investors are looking towards new machine learning capabilities to get more value out of their strategies by choosing better performing securities. A lot of experts have talked about the benefits of using predictive analytics technology to forecast the future prices of various financial assets , especially stocks.

Predictive Analytics 81

Predictive Analytics Forecasting Analytics Machine Learning 81

CIO Business Intelligence

APRIL 4, 2024

Some prospective projects require custom development using large language models (LLMs), but others simply require flipping a switch to turn on new AI capabilities in enterprise software. “AI A human reviews it to make sure it makes sense, and if it does, the AI incorporates that into the learning model,” she says.

Enterprise 134

Enterprise Cost-Benefit Forecasting Strategy 134

CIO Business Intelligence

MAY 21, 2024

With the generative AI gold rush in full swing, some IT leaders are finding generative AI’s first-wave darlings — large language models (LLMs) — may not be up to snuff for their more promising use cases. With this model, patients get results almost 80% faster than before. It’s fabulous.”

IT 119

IT Cost-Benefit Experimentation Forecasting 119

IBM Big Data Hub

MARCH 25, 2024

Developing a risk management strategy for insurance and other financial services In recent years, financial services firms have realized that they need a decision-making strategy that accounts for the implications of climate change. As a result, pension funds and other stock market investments might suffer adverse effects.

Insurance 94

Insurance Forecasting Risk Risk Management 94

Rocket-Powered Data Science

SEPTEMBER 25, 2022

This is all fueled and facilitated by data flows across processes, products, and people’s activities, used in synergy with computational models and simulations of the system being digitally twinned. All phases of the MVT process are discussed: strategy, designs, pilot, implementation, test, validation, operations, and monitoring.

Diagnostic Analytics 216

Diagnostic Analytics Prescriptive Analytics Internet of Things IoT 216

CIO Business Intelligence

OCTOBER 16, 2023

According to Accenture , nearly 75% of companies have already integrated AI into their business strategies, and 42% said that the return on their AI initiatives exceeded their expectations (only 1% said the return didn’t meet expectations). GenAI models can generate realistic images, compose music, write text, and even design virtual worlds.

Forecasting 137

Forecasting Machine Learning Software Data-driven 137

DataRobot Blog

JUNE 27, 2022

In our previous two posts, we discussed extensively how modelers are able to both develop and validate machine learning models while following the guidelines outlined by the Federal Reserve Board (FRB) in SR 11-7. Monitoring Model Metrics.

Risk 59

Risk Modeling Metrics Measurement 59

Smart Data Collective

OCTOBER 6, 2023

Data analytics technology has helped retail companies optimize their business models in a number of ways. In this article, we will explore the significance of managing seasonal fluctuations and the strategies businesses can implement. This underscores the importance of investing in predictive analytics technology to forecast sales.

Management 115

Management Analytics Predictive Analytics Cost-Benefit 115

CIO Business Intelligence

MAY 14, 2024

That, I wish I’d had the sophistication to explain, was the consequence of our strategy. It’s just as well, because I would have been using the term “strategy” wrong, too, although less wrong than insisting that a spending forecast is a plan. Anatomy of a plan In the realm of business, strategy isn’t what most of us think.

IT 111

IT ROI Strategy Forecasting 111

bridgei2i

JUNE 23, 2021

4 Key Elements of Enterprise AI Strategy. Integrating enterprise AI into the business platform enables companies to identify trends in data sets for process automation, sales and business forecasting, and automated insights. An effective Enterprise AI strategy should include the following aspects: Understanding AI Journey.

Strategy 52

Strategy Enterprise Key Performance Indicator ROI 52

FineReport

JULY 26, 2021

When implemented effectively, a successful BI strategy will reach every corner of the organization, having a positive impact and enabling people to make the right decisions quickly. What is business intelligence strategy? At the same time, enterprises can use the BI strategy to gradually reach various business objectives.

Business Intelligence 52

Business Intelligence Strategy Cost-Benefit Data-driven 52

FineReport

JULY 26, 2021

When implemented effectively, a successful BI strategy will reach every corner of the organization, having a positive impact and enabling people to make the right decisions quickly. What is business intelligence strategy? At the same time, enterprises can use the BI strategy to gradually reach various business objectives.

Business Intelligence 52

Business Intelligence Strategy Cost-Benefit Data-driven 52

O'Reilly on Data

JANUARY 22, 2019

An exploration of three types of errors inherent in all financial models. At Hedged Capital , an AI-first financial trading and advisory firm, we use probabilistic models to trade the financial markets. All financial models are wrong. Clearly, a map will not be able to capture the richness of the terrain it models.

Modeling 134

Modeling Finance Uncertainty Data mining 134

CIO Business Intelligence

MAY 14, 2024

Enterprises need to ensure that private corporate data does not find itself inside a public AI model,” McCarthy says. You don’t want a mistake to happen and have it end up ingested or part of someone else’s model. The excitement and related fears surrounding AI only reinforces the need for private clouds.

IT 143

IT Data Processing Enterprise Modeling 143

CIO Business Intelligence

DECEMBER 11, 2023

Now, it’s time to pay for it, and that’s putting a spotlight squarely on the chief financial officer (CFO), who has increasingly become the gatekeeper deciding which projects get funded and how significantly AI will play a role in enterprise strategy. For the CFOs at the center of that transformation, the stakes are higher than ever.

Finance 105

Finance Forecasting IoT Predictive Modeling 105

The Unofficial Google Data Science Blog

APRIL 17, 2017

by ERIC TASSONE, FARZAN ROHANI We were part of a team of data scientists in Search Infrastructure at Google that took on the task of developing robust and automatic large-scale time series forecasting for our organization. So it should come as no surprise that Google has compiled and forecast time series for a long time.

Forecasting 83

Forecasting Modeling Statistics Uncertainty 83

IBM Big Data Hub

SEPTEMBER 6, 2023

Negotiations and complicated financial models add depth and time to the budgeting process. Obsolete data and financial projections A budget, at its core, is a financial forecast. This means combining the old ways of budgeting with some new strategies to make sure teams are ready for whatever comes next.

Forecasting 89

Forecasting Marketing Risk Sales 89

Smart Data Collective

SEPTEMBER 12, 2021

Using Big Data to Create a Well Executed Investing Strategy. You can use data analytics tools to forecast future expenses and assess the probability of various costly events (such as your car breaking down based on its age and model), so you can create an emergency fund that addresses these risks.

Data-driven 79

Data-driven Strategy Big Data Cost-Benefit 79

Rocket-Powered Data Science

MARCH 19, 2021

Focus on the strategies that aim these tools, talents, and technologies on reaching business mission and goals: e.g., data strategy, analytics strategy, observability strategy ( i.e., why and where are we deploying the data-streaming sensors, and what outcomes should they achieve?).

Internet of Things 259

Internet of Things Analytics IoT Prescriptive Analytics 259

DataRobot Blog

MAY 26, 2022

Last time , we discussed the steps that a modeler must pay attention to when building out ML models to be utilized within the financial institution. In summary, to ensure that they have built a robust model, modelers must make certain that they have designed the model in a way that is backed by research and industry-adopted practices.

Risk 52

Risk Modeling Metrics Business Objectives 52

CIO Business Intelligence

MARCH 18, 2024

Technology has a critical role to play in any organization’s social sustainability strategy. Sustainable supply chains and ecosystems: A growing number of firms use technology to incorporate suppliers into their sustainability strategy.

Manufacturing 119

Manufacturing Forecasting Technology Software 119

CIO Business Intelligence

NOVEMBER 17, 2023

Over a period of six months, we created an entirely new demand forecasting model, leveraging the capabilities in the cloud,” he says by way of example. They are quite sensitive particularly about not putting into some of those models confidential information, which could then be out there permanently.”

Forecasting 132

Forecasting Consulting Data-driven Digital Transformation 132

CIO Business Intelligence

JANUARY 19, 2024

The US Bureau of Labor Statistics (BLS) forecasts employment of data scientists will grow 35% from 2022 to 2032, with about 17,000 openings projected on average each year. You need experience in machine learning and predictive modeling techniques, including their use with big, distributed, and in-memory data sets.

Data Science 126

Data Science Machine Learning Predictive Modeling Experimentation 126

Smarten

JULY 23, 2019

Put simply, predictive analytics is a method used to forecast and predict the future results and needs of an organization using historical data and a comprehensive set of data from across and outside the enterprise. Predictive Modeling allows users to test theories and hypotheses and develop the best strategy.

Modeling 63

Modeling Predictive Analytics Predictive Modeling IT 63

Jet Global

NOVEMBER 3, 2020

Being profitable and delivering the most value to shareholders starts with having a robust tax planning strategy that enables you to keep more of your hard-earned money while ensuring compliance with every tax district—and keeping your reputation intact. Unfortunately, when it comes to taxes, there are many moving parts to consider.

Strategy 84

Strategy Digital Transformation Software Cost-Benefit 84

Smart Data Collective

JUNE 9, 2021

The software-as-a-service (SaaS) model has been increasingly gaining popularity with enterprises. Companies that evaluate the right metrics can create very viable SaaS business models. The forecast for the succeeding year similarly points to a considerable expansion of up to $145.4 billion market. billion market.

Strategy 69

Strategy Software Forecasting Cost-Benefit 69

CIO Business Intelligence

APRIL 29, 2024

GitHub Copilot is still using a much smaller model,” Patel said. The demand for AI is so large that there simply isn’t enough capacity to put large language models (LLMs) into every application that enterprises want to. AWS and Google both have capacity issues as well. Microsoft is not unique,” said Semianalysis’ Patel.

Enterprise 105

Enterprise Data Processing Forecasting Modeling 105

CIO Business Intelligence

JANUARY 15, 2024

Beyond boosting revenue, respondents gave plenty of other reasons to adopt AI in retail, including creating operational efficiencies (53% of respondents), improving the consumer experience (42%), improving decision making (37%), or yielding more accurate demand forecasting (21%).

Sales 105

Sales Software Forecasting Statistics 105

Domino Data Lab

MARCH 3, 2021

It’s often stated that nothing changes inside an enterprise because you’ve built a model. In some cases, data science does generate models directly to revenue, such as a contextual deal engine that targets people with offers that they can instantly redeem. But what about good decisions?

Metrics 93

Metrics Modeling Sales Data Science 93

CIO Business Intelligence

MAY 8, 2024

In about six months, Expion’s two AI developers created ExpionIQ Advisor, a tool that uses linear regression, multiple algorithms, and custom-built AI models to automate prescription RFPs. Now, if the model is drifting away, we get alerted automatically, and we fix it.” In the past, anybody could make a mistake easily.

IT 111

IT Cost-Benefit Insurance Unstructured Data 111

IBM Big Data Hub

MAY 17, 2024

Poorly run implementations of traditional or generative AI in commerce—such as models trained on inadequate or inappropriate data—lead to bad experiences that alienate consumers and businesses. AI models analyze vast amounts of data quickly and accurately.

B2B 70

B2B Interactive Optimization Forecasting 70

CIO Business Intelligence

JANUARY 11, 2024

The global end-user spending on public cloud services is forecast to grow 20.4% On Tuesday, the company also said it has completed the acquisition of management consultancy Vocatus , which uses behavioral economics modeling to develop pricing strategies and sales concepts for business-to-business and business-to-consumer models.

IT 116

IT Consulting Digital Transformation Manufacturing 116

Smart Data Collective

AUGUST 30, 2022

Analytics Can Be Essential for Helping Companies with their Pricing Strategies. In today’s business world, pricing has become one of the most important parts of a company’s strategy. Analytics can use existing data to model scenarios where customers will respond to different prices. Value-Based Pricing.

B2B 131

B2B Analytics Cost-Benefit Metrics 131

Smarten

JUNE 29, 2018

This article looks at the ARIMAX Forecasting method of analysis and how it can be used for business analysis. What is ARIMAX Forecasting? This method is suitable for forecasting when data is stationary/non stationary, and multivariate with any type of data pattern, i.e., level/trend /seasonality/cyclicity. About Smarten.

Forecasting 40

Forecasting Enterprise IT Business Intelligence 40

CIO Business Intelligence

NOVEMBER 21, 2023

That’s where an IT strategy that frames shadow IT as an opportunity for improved collaboration can have a profound impact. Set parameters and emphasize collaboration To address one root cause of shadow IT, CIOs must also establish a governance and delivery model for evaluating, procuring, and implementing department technology solutions.

IT 137

IT Risk Cost-Benefit Risk Management 137