CIO Business Intelligence

JUNE 28, 2023

As Belcorp considered the difficulties it faced, the R&D division noted it could significantly expedite time-to-market and increase productivity in its product development process if it could shorten the timeframes of the experimental and testing phases in the R&D labs.

Digital Transformation 98

Digital Transformation Cost-Benefit Informatics Data mining 98

Smarten

APRIL 28, 2023

In fact, today’s productivity statistics have decreased in nearly all segments of the economy and improved productivity can provide a competitive edge and allow your business to function with fewer resources.

Slice and Dice 52

Slice and Dice Business Intelligence ROI Statistics 52

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

Smart Data Collective

FEBRUARY 21, 2021

Else, it is just a set of numbers that will end up as statistics. However, it is also important to use data analytics to monitor conversion rates and determine the ROI of various lead generation strategies. You can use various data-driven split-testing techniques to see which styles work best. Create Webinars.

Strategy 99

Strategy Data Analytics Analytics Data-driven 99

FineReport

DECEMBER 11, 2019

. – Head First Data Analysis: A learner’s guide to big numbers, statistics, and good decisions. You’ll learn about the concept of big data and how to use big data—from computing ROI and big data strategies that drive business cases to the overall development and specific projects. By Michael Milton.

Big Data 98

Big Data Statistics Experimentation Data Strategy 98

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 97

Cost-Benefit Modeling Manufacturing Interactive 97

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. This has serious implications for software testing, versioning, deployment, and other core development processes. What delivers the greatest ROI?

Management 332

Management Machine Learning Experimentation Metrics 332

datapine

MARCH 19, 2019

According to the statistics portal Statista , there are currently around 4.78 You should hold internal focus groups to test how ‘scannable’ your dashboard designs are and find out which areas need improvement. We live in a mobile world. billion mobile device users worldwide. Sales mobile dashboard example.

Dashboards 112

Dashboards Visualization Metrics KPI 112

Occam's Razor

AUGUST 22, 2011

Customer Lifetime Value ROI, Buzz Monitoring, Click Fraud. PPC / SEM Analytics: 5 Actionable Tips To Improve ROI. Google Analytics Maximized: Deeper Analysis, Higher ROI & You. Five Reasons And Awesome Testing Ideas. Lab Usability Testing: What, Why, How Much. Experimentation and Testing: A Primer.

KPI 124

KPI Metrics Measurement ROI 124

Sisense

SEPTEMBER 25, 2020

A data scientist must be skilled in many arts: math and statistics, computer science, and domain knowledge. Statistics and programming go hand in hand. Mastering statistical techniques and knowing how to implement them via a programming language are essential building blocks for advanced analytics. Linear regression.

Statistics 98

Statistics Predictive Modeling Modeling Machine Learning 98

BizAcuity

MAY 16, 2022

His name was William Gosset and he is credited to have developed the student t-test. He went on to be the head brewer of Guinness and we thank him for not just great hand-crafted beers but subsequent research breakthroughs in statistical research as well. Data allowed Guinness to hold their market dominance for long.

Business Intelligence 52

Business Intelligence Data mining Visualization Data Lake 52

Occam's Razor

JANUARY 6, 2010

2 Learn basic statistics. For all of the above reasons it is becoming ever more important that you are know atleast Statistics 101. If you have not been exposed to statistics perhaps you can take a class at a local community college or university. Knowledge of statistics is a key arrow to add to your analytical skills quiver.

Analytics 99

Analytics IT Statistics Metrics 99

Ontotext

APRIL 3, 2024

Show me the ROI.” ” So, maybe they are open to some testing and exploration, but when it’s prime time, larger organizations won’t run the risk of putting something untested. These are not statistical inferences. The traditional technology approach to talking to the world is, “Our features are so cool.

Technology 59

Technology Risk Digital Transformation Measurement 59

datapine

SEPTEMBER 6, 2022

Modern content performance reports in the shape of an interactive online dashboard present an intuitive and accessible way to assess your content’s success and its ROI in real-time and in one centralized location. Flesch reading ease: The Flesch reading ease is a readability test developed in the U.S Enter modern content reports.

Dashboards 179

Dashboards Reporting ROI Metrics 179

DataRobot Blog

APRIL 4, 2022

MMM stands for Marketing Mix Model and it is one of the oldest and most well-established techniques to measure the sales impact of marketing activity statistically. When this contribution is put against the marketing spend in the particular channel, it produces a reading on the highly coveted return on investment (ROI).

Machine Learning 52

Machine Learning Sales Measurement ROI 52

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

Insight

FEBRUARY 19, 2020

I held out 20% of this as a test set and used the remainder for training and validation. Building Models to Predict Movie Profitability Here I use profitability as the metric of success for a film and define profitability as the return on investment (ROI). ROI = Profit/Budget). 158% (median ROI of 82%)! A New Hope ).

Risk 67

Risk ROI Modeling Metrics 67

AWS Big Data

NOVEMBER 29, 2023

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. With Redshift, we are able to view risk counterparts and data in near real time— instead of on an hourly basis.

Data Warehouse 105

Data Warehouse Data Lake Analytics Machine Learning 105

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. They tend to use less machine learning, but more advanced statistical practices, since the outcomes (government policies, etc.) machine learning?

Data Science 71

Data Science Machine Learning Data Governance Statistics 71

datapine

SEPTEMBER 16, 2022

But often that’s how we present statistics: we just show the notes, we don’t play the music.” – Hans Rosling, Swedish statistician. A BI strategy that leverages data visualization will provide an ROI of $13.01 Your Chance: Want to test a powerful data visualization software? back on every dollar spent.

Visualization 304

Visualization Dashboards Data-driven Statistics 304

Smarten

SEPTEMBER 6, 2019

With true self-serve business intelligence and analytics solutions, the average business user can perform data preparation, test theories and hypotheses by prototyping on their own and share clear, objective data with others.

Analytics 51

Analytics IT Business Intelligence Testing 51

Smarten

AUGUST 9, 2017

Users can perform advanced analytics in an easy-to-use, drag and drop interface without knowledge of statistical analysis or algorithms. Augmented Data Preparation empowers business users with access to meaningful data to test theories and hypotheses without the assistance of data scientists or IT staff.

Analytics 40

Analytics IT Statistics ROI 40

Domino Data Lab

MAY 8, 2019

So much work in machine learning – either on the academic side which is focused on publishing papers or the industry side which is focused on ROI – tends to emphasize: How much predictive power (precision, recall) does the model have? Use of influence functions goes back to the 1970s in robust statistics.

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

Domino Data Lab

JUNE 23, 2019

As a result, Skomoroch advocates getting “designers and data scientists, machine learning folks together and using real data and prototyping and testing” as quickly as possible. And then you’ll do a lot of work to get it out and then there’ll be no ROI at the end. Testing is critical. It is similar to R&D.

Management 110

Management Machine Learning Experimentation Metrics 110

Sisense

JUNE 26, 2019

The aged statistic still stands that 80% of your time will be spent preparing and optimizing data. You need to find the right data sets, clean them up, and test out interoperability. You can also test and monitor usage inside the BI tool as you scale so that you can know and plan the costs up front. Lock It Down.

Enterprise 75

Enterprise Data Warehouse Dashboards Modeling 75

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. Usually at least a test. Meanwhile see if you can convince your HiPPO to run a small test while you look for a case study (and a job). ].

Analytics 118

Analytics Consulting Metrics Experimentation 118

Domino Data Lab

MARCH 3, 2019

I’m here mostly to provide McLuhan quotes and test the patience of our copy editors with hella Californian colloquialisms. The leaders have learned how to create ROI from ML—now they’re competitive and doubling down on their AI bets. This contrast provides a good basis for drawing distinctions between the leaders and the laggards.

Data Science 49

Data Science Deep Learning Machine Learning Modeling 49

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

DataKitchen

JUNE 24, 2021

And once we cracked the code on that alternative reality and they saw that we weren’t just talking about running a test but continuous testing every step or instantiating a transit environment to recreate a test environment in seconds rather than days. DataOps Maximizes Your ROI. Design for measurability.

ROI 211

ROI Metrics Measurement Cost-Benefit 211

Jet Global

MAY 15, 2020

Quick Ratio – This financial metric is commonly referred to as the “Acid Test Ratio” (acid was historically used to determine if gold was genuine or not). Return on Investment (ROI) – This financial performance indicator measures the amount of money an investment has made relative to the cost of the investment.

Metrics 98

Metrics Finance Reporting KPI 98

Smart Data Collective

JULY 2, 2019

Their business focuses on software testing, which is a process that their less advanced competitors often outsource to virtual assistants. They have debated whether this will influence the software testing companies that rely on them. People that hire virtual assistants are constantly looking to get a better ROI.

Big Data 78

Big Data ROI Testing Statistics 78

Smarten

JULY 3, 2017

It can also improve its time to market and competitive advantage, its ROI and its TCO. Advanced Data Discovery allows business users to perform early prototyping and to test hypothesis without the skills of a data scientist.

Predictive Modeling 40

Predictive Modeling Visualization Business Intelligence Experimentation 40

datapine

MAY 17, 2021

Your Chance: Want to test a professional data discovery tool for free? Your Chance: Want to test a professional data discovery tool for free? They positively impact ROI ( Return on Investment ) and TCO (Total Cost of Ownership). Your Chance: Want to test a professional data discovery tool for free? What Is Data Discovery?

Visualization 161

Visualization Data-driven Business Intelligence Metrics 161

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

Andrew White

JANUARY 11, 2021

Storytelling is a nice one to use early on to test the approach. 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. How do we verify ROI on data and analytics efforts? Yes, and no.

Data Analytics 52

Data Analytics Analytics Data-driven Finance 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