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.
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.
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.
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.
Web mining is the process within you are extracting insightful information from World Wide Web. It is possible at different scales and for different purposes. In general, web mining is the term used for data mining application within online collected information. Such technical achievement gives businesses pretty interesting opportunities for the e-commerce businesses and online entrepreneurs.
It is not a secret that there is a staggering amount of information located on the Internet. The annual internet traffic is rated as a 1 zettabyte per year. If you ever have wondered how much data is that, just imagine a cup of coffee on your desk is equal to 1 gigabyte. A zettabyte is the volume of the Great Wall of China.