Smart Data Collective

JUNE 26, 2019

Or, dark data could open your company to regulatory risks if you cannot retrieve requested information during an audit. Instead of being overly concerned about the business investment required for that software, think of the risks to your company if you continue to ignore your unclassified data and the blind spots it causes.

ROI 102

ROI Statistics Machine Learning Measurement 102

Smarten

JUNE 25, 2018

This article provides a brief explanation of the definition and uses of the Descriptive Statistics algorithms. What is a Descriptive Statistics? Descriptive statistics helps users to describe and understand the features of a specific dataset, by providing short summaries and a graphic depiction of the measured data.

Statistics 40

Statistics Enterprise Measurement Business Intelligence 40

datapine

SEPTEMBER 29, 2022

More generally, low-quality data can impact productivity, bottom line, and overall ROI. No, its ultimate goal is to increase return on investment (ROI) for those business segments that depend upon data. Industry-wide, the positive ROI on quality data is well understood. 2 – Data profiling.

Data Quality 241

Data Quality Metrics Data-driven Management 241

datapine

JANUARY 24, 2021

Or even better: “Which marketing campaign that I did this quarter got the best ROI, and how can I replicate its success?”. Giving the most ROI? You’ll want to be mindful of the level of measurement for your different variables, as this will affect the statistical techniques you will be able to apply in your analysis.

IT 317

IT Statistics KPI Data-driven 317

The Unofficial Google Data Science Blog

DECEMBER 4, 2019

The ROI of human involvement When it comes to human involvement, the key difference is in the magnitude of costs associated with any one forecast cycle. This defines the ROI on the investment of human time. With those stakes and the long forecast horizon, we do not rely on a single statistical model based on historical trends.

Forecasting 113

Forecasting Data Science Statistics Uncertainty 113

datapine

JANUARY 6, 2022

Before any serious data analysis can begin, the scale of measurement must be decided for the data as this will have a long-term impact on data interpretation ROI. More often than not, it involves the use of statistical modeling such as standard deviation, mean and median. Variables are exclusive and exhaustive.

Visualization 246

Visualization Dashboards Cost-Benefit Measurement 246

Smart Data Collective

NOVEMBER 25, 2021

College students are often believed to be least at risk, because they are more tech-savvy and presumably know how to stop data breaches. Since they use the Internet a lot more than their older peers, they might actually be at an even higher risk. First of all, let’s look into some statistics. What Research Shows.

Big Data 95

Big Data Risk Data-driven ROI 95

O'Reilly on Data

MARCH 31, 2020

All you need to know for now is that machine learning uses statistical techniques to give computer systems the ability to “learn” by being trained on existing data. Those cutting-edge ideas are also attractive, both to managers who don’t understand the risks and to developers who want to try something that’s really challenging.

Management 327

Management Machine Learning Experimentation Metrics 327

Corinium

APRIL 25, 2019

For example, P&C insurance strives to understand its customers and households better through data, to provide better customer service and anticipate insurance needs, as well as accurately measure risks. Life insurance needs accurate data on consumer health, age and other metrics of risk. Now, there is a data risk here.

Insurance 150

Insurance Risk IoT Cost-Benefit 150

Sisense

SEPTEMBER 3, 2020

Besides strong technical skills (for instance, use of Hadoop, programming in R and Python , math, statistics), data scientists should also be able to tackle open-ended questions and undirected research in ways that bring measurable business benefits to their organization. See an example: Explore Dashboard.

Statistics 97

Statistics Metrics Visualization Finance 97

Smart Data Collective

JUNE 15, 2022

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. Analyzing your marketing and website data allows you to avoid wasting money on strategies that don’t provide a favorable ROI.

Advertising 97

Advertising Cost-Benefit ROI Sales 97

FineReport

DECEMBER 11, 2019

. – Head First Data Analysis: A learner’s guide to big numbers, statistics, and good decisions. Effective use of big data helps companies analyze critical information more accurately, ultimately improving operational efficiency, reducing costs, reducing risk, accelerating innovation, and increasing revenue.

Big Data 98

Big Data Statistics Experimentation Data Strategy 98

Smarten

AUGUST 21, 2019

Assisted Predictive Modeling – These tools enable the average business user to leverage sophisticated predictive algorithms without requiring statistical or data science skills. Users can highlight trends and patterns, test hypotheses and theories to reduce business risk, and easily predict and forecast results.

Analytics 51

Analytics Predictive Modeling Visualization Statistics 51

CIO Business Intelligence

JUNE 28, 2023

Finally, our goal is to diminish consumer risk evaluation periods by 80% without compromising the safety of our products.” Gopalan says that effectively communicating the potential benefits, demonstrating a clear ROI, and addressing any potential challenges were key to winning buy-in and support from the leadership team for the project.

Digital Transformation 78

Digital Transformation Cost-Benefit Informatics Data mining 78

IBM Big Data Hub

APRIL 18, 2024

LLMs like ChatGPT are trained on massive amounts of text data, allowing them to recognize patterns and statistical relationships within language. Here are some areas where organizations are seeing a ROI: Text (83%) : Gen AI assists with automating tasks like report writing, document summarization and marketing copy generation.

Cost-Benefit 90

Cost-Benefit Modeling Manufacturing Interactive 90

AWS Big Data

NOVEMBER 29, 2023

With Redshift, we are able to view risk counterparts and data in near real time— instead of on an hourly basis. Redshift significantly improved our business ROI efficiency.” – PengBo Yang, CTO, JOYME Data pipelines can be challenging and costly to build and manage and can create hours-long delays to obtain transactional data for analytics.

Data Warehouse 101

Data Warehouse Data Lake Analytics Machine Learning 101

Smart Data Collective

JANUARY 13, 2021

This helps in a number of ways, including bolstering email security and improving the ROI of email-related business funnels. This also means that data security risks will be lower as well. This is one of the biggest benefits of big data technology.

Data-driven 93

Data-driven Big Data Cost-Benefit ROI 93

datapine

NOVEMBER 13, 2019

Fortunately, we live in a digital age rife with statistics, data, and insights that give us the power to spot potential issues and inefficiencies within the business. Procurement reports provide a wealth of opportunity to improve your ROI based on your various procurement actions and activities.

Reporting 158

Reporting KPI Cost-Benefit Metrics 158

Ontotext

APRIL 3, 2024

Nimit Mehta : You are talking about the three big ones: cost, revenue, and risk. And, when you get to the top, it’s about risks and existential threats to the business. How do I make sure I can manage risk?” We are currently doing non-financial risk identification for a big Financial Services organization.

Technology 59

Technology Risk Digital Transformation Measurement 59

erwin

NOVEMBER 6, 2020

The clear benefit is that data stewards spend less time building and populating the data governance framework and more time realizing value and ROI from it. . Find hidden inconsistencies and highlight other potential problems using intelligent statistical algorithms and provides robust validation scores to help correct errors.

Data Governance 97

Data Governance Metadata Data-driven Visualization 97

DataRobot Blog

NOVEMBER 8, 2022

An example of this in action is one of our global clients, where we manage sales risk across their product portfolio. In terms of impact, we have helped this client with driving incremental revenue and media driven ROI, despite considerable headwinds in their market environment.

Predictive Analytics 59

Predictive Analytics Marketing Analytics Data-driven 59

Alation

NOVEMBER 28, 2022

Spreadsheet power users will get the most value from Alation Connected Sheets; examples of these core user groups include: Financial analysts rely on spreadsheets to make business-critical decisions around budget allocation, regulatory reporting for risk and compliance audits.

Descriptive Analytics 52

Descriptive Analytics Risk Sales Data-driven 52

Alation

JANUARY 27, 2022

Analytics can identify patterns that depict risks, opportunities, and trends. Uncovers Valuable Business Insights to Maximize ROI. This way, users can be connected quickly to the most valuable data with the highest ROI. ” Dark data does not add value to an organization and may even pose compliance risks.

Data Governance 52

Data Governance Analytics Cost-Benefit Data-driven 52

Domino Data Lab

AUGUST 8, 2019

provides ways to kill 2-3 birds with one stone: better recommendations for people leveraging that data, along with better data governance, along with better ROI on research funding. The probabilistic nature changes the risks and process required. The gist is, leveraging metadata about research datasets, projects, publications, etc.,

Data Science 71

Data Science Machine Learning Data Governance Statistics 71

datapine

DECEMBER 17, 2019

The purpose is not to track every statistic possible, as you risk being drowned in data and losing focus. It is split into four different KPIs: the return on investment (ROI) over a year, expressing the efficiency of IT investments. a comparison of the IT spending versus its budget.

Reporting 173

Reporting IT Key Performance Indicator Dashboards 173

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

datapine

NOVEMBER 5, 2019

If you fail to do so, you risk damages in your productivity and costs. Often times, statistical analysis is done manually and takes a lot of business hours to complete and provide recommendations for the future. Moreover, 57% of enterprise organizations currently employ a chief data officer, another study conducted by MicroStrategy.

Dashboards 220

Dashboards Cost-Benefit Sales Metrics 220

Domino Data Lab

MAY 8, 2019

That’s a risk in case, say, legislators – who don’t understand the nuances of machine learning – attempt to define a single meaning of the word interpret. Given how so much of IT gets driven by concerns about risks and costs, in practice auditability tops the list for many business stakeholders. How fast can the model be trained?

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

FineReport

MAY 9, 2023

It can also reduce the risk of human error in the reporting process by eliminating the need for manual work. PPC endeavors Having a section covering the cost per conversion, click-through rate, ad spend, ROI, etc., However, data from multiple sources can be consolidated using professional business dashboards.

Reporting 52

Reporting Marketing Advertising Metrics 52

datapine

MAY 17, 2021

They positively impact ROI ( Return on Investment ) and TCO (Total Cost of Ownership). The final aim of the data cleaning stage is to avoid the risks of working with misleading data that can damage your business. They free up more time for strategic decision-making. They improve data accessibility. 5) Develop a data discovery model.

Visualization 161

Visualization Data-driven Business Intelligence Metrics 161

Andrew White

JANUARY 11, 2021

Some data is more a risk than valuable. Risk Management (most likely within context of governance). But we are seeing increasing data suggesting that broad and bland data literacy programs, for example statistics certifying all employees of a firm, do not actually lead to the desired change. GI-GO of course we all know.

Data Analytics 52

Data Analytics Analytics Data-driven Finance 52

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.

Metrics 98

Metrics Finance Reporting KPI 98

Domino Data Lab

MARCH 3, 2019

The leaders have learned how to create ROI from ML—now they’re competitive and doubling down on their AI bets. In the third survey, we tried to quantify the risks encountered by enterprise organizations as they progress through the steps of that journey. Translated, there’s a breakaway accelerating between the leaders and the laggards.

Data Science 49

Data Science Deep Learning Machine Learning Modeling 49

Occam's Razor

MARCH 23, 2010

Part of it is fueled by a vocal minority genuinely upset that 10 years on we are still not a statistically powered bunch doing complicated analysis that is shifting paradigms. Yet case studies in some sense reduced risk, even if they were simply over blown marketing fluff written by the vendor. Part of it fueled by some Consultants.

Analytics 118

Analytics Consulting Metrics Experimentation 118

Domino Data Lab

JANUARY 6, 2019

What are the projected risks for companies that fall behind for internal training in data science? more depth in the case studies), plus different styles of instruction (“ROI” gets discussed, a lot) are needed. How do options such as mentoring programs fit into this picture, both for organizations and for the individuals involved?

Data Science 56

Data Science Machine Learning Reporting Visualization 56

Domino Data Lab

JUNE 23, 2019

All you need to know, for now, is that machine learning is a field of artificial intelligence that uses statistical techniques to give computer systems the ability to learn based on data by being trained on past examples. And then you’ll do a lot of work to get it out and then there’ll be no ROI at the end.

Management 110

Management Machine Learning Experimentation Metrics 110

Andrew White

JANUARY 9, 2022

This was not statistic and we have not really explored this in any greater detail since. We have various tools, best practices and techniques to help explore the ROI for a range of D&A investments. There is a use case that does warrant starting with a catalog – that is closely related to data privacy risk.

Analytics 64

Analytics Measurement Modeling Data-driven 64