Smart Data Collective

OCTOBER 6, 2023

Data analytics technology has helped retail companies optimize their business models in a number of ways. One of the biggest benefits of data analytics is that it helps companies improve stability during times of uncertainty. There are a number of huge benefits of using data analytics to identify seasonal trends.

Management 116

Management Analytics Predictive Analytics Cost-Benefit 116

CIO Business Intelligence

MARCH 14, 2022

Hubbard defines measurement as: “A quantitatively expressed reduction of uncertainty based on one or more observations.”. This acknowledges that the purpose of measurement is to reduce uncertainty. And the purpose of reducing uncertainty is to make better decisions. I call this point data saturation.

Uncertainty 86

Uncertainty Measurement Cost-Benefit Optimization 86

CIO Business Intelligence

OCTOBER 4, 2022

As they put it, “Such co-inventions include machine learning applications and predictive analytics embedded across the organization in various business processes, which increase the value of work conducted by data users and decision-makers.”. We agree and can bring some additional perspective on the upside of that kind of approach.

Machine Learning 100

Machine Learning Data Architecture Uncertainty Data-driven 100

Smart Data Collective

SEPTEMBER 7, 2021

Data-based insights can help make the right decisions, keep up with market trends and navigate the uncertainty. Such predictive analytics can help to define what products will spike the biggest interest of the audience. Setting the optimal prices. Big data is a not new concept, and it has been around for a while.

Big Data 126

Big Data Technology Cost-Benefit Predictive Analytics 126

CIO Business Intelligence

NOVEMBER 14, 2022

A DSS supports the management, operations, and planning levels of an organization in making better decisions by assessing the significance of uncertainties and the tradeoffs involved in making one decision over another. These DSS include systems that use accounting and financial models, representational models, and optimization models.

Data mining 129

Data mining Data-driven Statistics OLAP 129

Jet Global

APRIL 9, 2023

When you consider it from that perspective, it makes sense to invest in optimizing the processes and tools that build data literacy across the organization. Predictive Finally, predictive data analysis and forecasting is the capstone to true data fluency, representing true synergy of people, data, and tools.

Finance 52

Finance Forecasting Predictive Analytics Data-driven 52

Sisense

OCTOBER 6, 2020

Smart use of your data can be the key to optimizing processes, identifying new opportunities, and gaining or keeping a competitive edge. With qualitative data, you can understand intention as well as behavior, thereby making predictive analytics more accurate and giving you fuller insights.

Statistics 98

Statistics Unstructured Data Data-driven Visualization 98