Elon Musk and his Tesla Model S started it all. The premium electric sedan was equipped with advanced and self-learning Autopilot system, which can take the chauffeuring work out of the driver. It was a complete breakthrough because if it works as good as it should; it is going to change driving forever. It is all because of Artificial Intellect (AI) and the way it works fueled by data sensors and powered by video analytics. And since we have, to be honest, it wasn’t started by Elon Musk but the automotive industry itself. It doesn’t matter if we talk about rain sensing wipers (Cadillac) or adaptive cruise control (Mitsubishi) or lane departure systems (Mercedes-Benz). Such systems work with predefined events with some variables in the input data and one particular, predefined outcome.
Data is all around nowadays so it will be wise to explore how beneficial it might be. Unfortunately, tourism is among the sectors where big data analytics exploitation is not at its best. That’s why we would like to share some insights coming right out of our data analytics startup enthusiasm.
Big data and predictive analytics have a lot of applications, including sales forecasting, marketing and strategy optimization, machine maintenance, even sports and design. Police and security experts already know that big data and predictive analytics might be extremely helpful in fighting and preventing crimes. We are going to explain how they do it.
We don’t know if you know but a few years ago, the major music labels had pretty sweet business. They profited from any single or album, not matter it was vinyl, CD or even cassette. It is not like this anymore. MP3, torrents, piracy, streaming, and video sharing networks killed this particular business model. What music labels did to stay afloat? They asked data analytics for some help. And they were not alone – a lot of businesses emerged and shaped their models by applying data analytics to music services. We are going to explain this.
The sinking of the RMS Titanic is probably the most tragic event in the modern maritime history. It was not the deadliest though but it became the symbol of the human bigotry in terms of technical advancement. Back in 1912, Titanic was the largest, and most luxurious ocean liner ever made. She was claimed to be unsinkable. And she sank on her maiden voyage to New York.
Nowadays, mankind possesses a tremendous number of data, regarding many real-life phenomena. The availability of such a source of information is the main premise for the wide spread usage of the data-driven modelling. When account for more factors in the model development, this usually leads to a better ability of the model to represent the specifics of investigated system. Naturally, in fields like economics, society, medicine, etc. the models are with many inputs and many outputs (MIMO).
It is a common conception that data analytics is the next big thing for many of industries. Restaurants are no exception and this is visible. This blogpost is not aimed at pointing the benefits of restaurants sales forecasting, a tedious task we`ve already created a solution for. Nor to highlight what is restaurant data analytics all about. Our goal today is to share with you real-life use cases for data analytics. Restaurant owners & management teams – just take a look and pick some really nice restaurants data analytics ideas!
Undoubtedly, big data and analytics are capable of giving many answers to tricky questions. We`ve already discussed how predictive analytics is eliminating the guessing work but there is one big question. Is it that good to be utilized anywhere? Like the prediction of an armed conflict for instance. Today we have rich data of human sentiment, movements, behavior to predict population level events like war, genocide, revolution, etc.