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.
Strategy optimization (SO) is a key process, which provides a substantial growth for retail and utility companies.
Generally the application of SO is directed to campaign management – helping the organizations to interact in a better way with their customers. The most popular optimization goals are increase of the revenue, popularity or customer loyalty, reducing the taken risk and so on. The multi-strategy optimization is also an option, where a balance between contradictory objectives is investigated, like the fine tuning between profit and loss.
Predictive analytics is full of tools and approaches enabling it to reveal key insights in almost any area. We already discussed the impact of Data Analytics in HR and we are delivering further.
Recent blog post by Toshi Takegushi, part of MathWorks team reveal in an interesting and comprehensive way how a predictive analytics model can be triggered on job-related data sets for scoring which employee is planning to quit its position. He relied on machine learning algorithms for predicting future events by utilizing historical data.
Love Is All Around is a nice song and always will be. Originally it was recorded by The Troggs but Wet Wet Wet is the band which made it famous. Radio stations will play it all day long during St. Valentine`s day. Hey, wait! Would they?
Google just surprised the data savvy community by withdrawing the limitation of 5 reports created within the free trial in their Data Studio product. The change was announced by Nick Mihailovski, product manager for Google Data Studio, in a recent blog post and via the official Google Analytics Twitter account.
We removed Data Studio limits based on your feedback. We’d love to hear what new integrations you’d like to see: https://t.co/wRgjTfARYe
— Google Analytics (@googleanalytics) February 2, 2017
20 years ago the world was changed by the Internet. It accelerated the knowledge access, it changed the way we communicate and create relations between each other and undisputedly – it changed the way we do business. And created a lot of new businesses.
Today we`re facing another big change and it is all about big data and analytics. It is capable of extracting benefits almost everywhere. Starting with coffee shops and restaurants, to professional sports and even modern advertising. Not just marketing but actual advertising.
We`ve already discussed how data analytics & sales forecasting might help restaurant managers to improve their business performance so we are moving in a specific case like cake & pastry shops. Their case is pretty specific, hence interesting.
Predictive and big data analytics are extremely hot these days, since the belief that the data is the new oil is taking over business managers from all sectors and industries. Data analytics for restaurants is also available even though the revenue of a particular restaurant location is not that big. But there are opportunities which make the difference between good and best.
It has been a long time since the work of a marketing professional doesn’t look as it was a few years ago. There were times when creativity had the best place on the main stage of marketing, now its place is stolen by data. Because, you know, data is the new oil.
If someone has told you that data analytics is something relatively new in Human Relations, do not believe them. The truth is that a big part of the HR work is to plan. You cannot have proper planning without accurate forecasting, something we have already discussed at this analytics blog. Well, it turns out that HR people and their industry as a whole are still far of maturity in terms of utilizing its data (trust us, they have a lot) into predictive analytics. Recent Deloitte survey of business and HR leaders shows that companies exploiting HR analytics are extremely small fraction of the market – 4% in 2015 vs 8% in 2016. The study highlights that this number is going to increase due to a shift of HR professionals expectations.