Preparing for La Niña: Adopting Predictive Maintenance Before Hurricane Season

With a La Niña watch issued for the summer, businesses operating in hurricane-prone regions face heightened concerns about the impending storm season. La Niña heavily impacts the wind shear and atmospheric conditions over the Atlantic, where most hurricanes form thanks to its warm waters. It’s rare to go a year without a hurricane hitting some part of…

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Demystifying Data Analytics Models

In today’s global landscape, organizations worldwide are increasingly turning to data analytics to enhance their business performance. Research conducted by McKinsey Consulting revealed that data-driven companies not only experience above-market growth but also witness EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increases of up to 25% [1]. Additionally, Forrester’s findings indicate that organizations utilizing…

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The FAAR Framework for Consuming Insights from Data and Analytics 

Faced with overwhelming amounts of data, organizations across the world are looking at leveraging data and analytics (D&A) to derive insights to increase revenue, reduce costs, and mitigate risks. McKinsey found that insight-driven companies report EBITDA (earnings before interest, taxes, depreciation, and amortization) increases of up to 25% [1]. According to Forrester, organizations that use data and insights…

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How to Become a Citizen Data Scientist

The job responsibilities of a citizen data scientist include dealing with new data, using automated tools to process big data, and creating additional models to gain additional insights. Their primary job is not to make predictions directly from big data, or develop prescriptive analytics, but to build models and use tools that accomplish those goals….

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AI-Driven Predictive Analytics: Turning the Table on Fraudsters

Fraud techniques, including phishing, vishing, deepfakes, and other scams are becoming increasingly sophisticated – making it easier than ever to perpetuate fraud at scale. This is placing businesses in danger of financial losses, and trust and reputational damage. Now, there’s an alarming trend among organized crime rings that have the potential to defraud enterprises of…

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15 Essential Data Mining Techniques

Data mining techniques can be applied across various business domains such as operations, finance, sales, marketing, and supply chain management, among others. When executed effectively, data mining provides a trove of valuable information, empowering you to gain a competitive advantage through enhanced strategic decision-making. At its core, data mining is a method employed for the…

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Synchronized Video Data Collaboration for Multi-Layered Insights

In this digital age, large amounts of data are produced and consumed every second. And particularly for experienced bloggers in the data management or IT industry, synchronized video data collaboration represents an untapped wellspring of potential. By harnessing this data revolution, businesses can gain multi-layered insights into consumer behavior and enhance organizational performance. The Undeniable…

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Fundamentals of Predictive Analytics

Predictive analytics (PA) is a subfield of data analytics and business intelligence that deals with an in-depth analysis of past events and forecasts of future events. This specialized branch of data analytics combines the power of data mining, data modeling, artificial intelligence (AI), and machine learning (ML) to make probabilistic predictions of future events. Predictive analytics relies…

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Introducing the Data Analytics Fabric Concept

Organizations all over the world – both profit and nonprofit – are looking at leveraging data analytics for improved business performance. Findings from a McKinsey survey indicate that data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times more profitable [1]. Research by MIT found that digitally mature firms are 26%…

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Machine Learning Use Cases for Data Management

In 2023, machine learning (ML) is a powerful enabler for Data Management, revolutionizing the way organizations handle and analyze vast amounts of data. ML, a subset of artificial intelligence (AI), offers various approaches to tackle Data Management challenges. With the ever-increasing “volume, velocity, and variety of data” being generated today, traditional methods of Data Management have become…

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