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Perfect Information Doesn't Equal Perfect Predictions
Many organizations attempt to achieve “data nirvana” by having 100% complete information for any given business decision. In the customer analytics space, this is sometimes referred to as a “360 degree view of the customer.” However, we really never know everything about our customers. What we call a 360 degree
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Big Data And The Analytics Arms Race
You think big data is big today? Just wait until next year…or the year after that…or the year after that. It is growing exponentially. Whatever seems big now will likely seem relatively small just a short time from now. My inner analytics geek is thrilled when several times per week
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Analytic Teams Are Rapidly Reaching Critical Mass
Over the past year, I have seen a very positive and encouraging shift in my discussions with organizations about the analytic talent that they employ. More and more discussions are about how to best structure an analytics organization as many companies have now found themselves with enough analytic professionals to
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What Does Taming Big Data Really Cost?
I’ve written in the past about the hype that surrounds big data. Perhaps one of the most ridiculous urban legends out there today is that working with big data is cheap. This myth is largely driven by the fact that some big data tools, such as Hadoop, don’t come with
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Is Big Data Changing The Business You Are In Without You Realizing It?
Throughout my career, one of the primary ways to classify a company has been its industry. Knowing a company’s industry gave you a solid start on understanding the company. From an analytics perspective, you could make highly accurate assumptions about what data an organization would have, what problems it was
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AI’s March Toward Industrialization Continues: Highlights from the O’Reilly AI Conference
Last week, IIA attended the O’Reilly AI Conference (#TheAIConf) in New York City. The O’Reilly AI Conference continues to provide an informative and comprehensive overview of artificial intelligence and its accelerating transition from research to industrialization. Sessions covered a broad spectrum of AI topics, including cutting-edge research, open source tools,
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The All-Inclusive Analytics Organization
There have always been multiple ways of making sense of data and solving business problems with analytics. Perhaps one of the earliest classifications was the descriptive/predictive/prescriptive one, which I can’t remember whether I invented or borrowed (I feel like I invented “prescriptive,” but I could be wrong, and I certainly
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Big Data Analytics Doesn't Have To Be The Wild West
To many, big data feels like the wild west; little or no structure or standards and an unclear picture of how to use the data for analysis. Will there ever be a day when big data will become easier to work with?Yes!!! In fact, you can begin to standardize and
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Assumptions Can Be Risky In A Big Data World
Any new analytic process will include assumptions about a wide range of areas including what actions will realistically be considered based upon the results, what metrics or methodologies will be best to utilize, and also what initial values to set for any inputs such as inflation rates. When working with
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Helpful Or Creepy? Avoid Crossing The Line With Big Data
One of the most discussed concerns surrounding big data today is privacy. While many powerful analytics are possible with the detailed data that is now collected on each of us, the sensitive nature of much of that data requires rethinking data practices and applications. This can include everything from how