CIO Business Intelligence

FEBRUARY 1, 2024

When organizations buy a shiny new piece of software, attention is typically focused on the benefits: streamlined business processes, improved productivity, automation, better security, faster time-to-market, digital transformation. It can help uncover hidden costs that could come back to bite you down the road.

Software 131

Software Enterprise Cost-Benefit ROI 131

Smart Data Collective

AUGUST 15, 2022

The retail landscape often finds it challenging to keep personnel costs low, while ensuring that customers are happy and satisfied. Hiring decisions will also be guided and labor costs significantly reduced because a labor scheduling tool will help an organization determine if they need to hire full-time or part-time employees.

Machine Learning 119

Machine Learning Cost-Benefit Forecasting Sales 119

CIO Business Intelligence

FEBRUARY 15, 2024

Graded’s Ardolino says that when he presents a project to top management, he starts with a descriptive overview and then combines KPIs that can measure the estimated positive impact in different business areas, for example reduction in man hours or the benefits of data retrieval. C-suite support for investments is essential.

Strategy 134

Strategy Digital Transformation Cost-Benefit Forecasting 134

David Menninger's Analyst Perspectives

NOVEMBER 12, 2024

One new and interesting topic covered at the event was process mining, which Infor is introducing in its various cloud suites. Process mining analyzes event data from the logs of software applications to understand how processes are designed to perform and how they actually perform.

Finance 130

Finance Prescriptive Analytics Cost-Benefit Manufacturing 130

CIO Business Intelligence

MAY 21, 2024

And the benefits of MakeShift’s use of AI are beginning to multiply. We can start to incorporate public data, such as weather forecasting, proximity to mass transit, and density of people in a store.” Databricks’ Naveen Rao agrees, noting that building a large model can cost up to $200 million. You’re capturing anomalies.”

IT 131

IT Cost-Benefit Experimentation Forecasting 131

David Menninger's Analyst Perspectives

NOVEMBER 7, 2024

AI is also making it easier for executives and managers to rapidly forecast, plan and analyze to promote deeper situational awareness and facilitate better-informed decision-making. It is stocked with data gathered from multiple authoritative sources and available for immediate analysis, forecasting, planning and reporting.

Forecasting 130

Forecasting Machine Learning Finance Predictive Analytics 130

Smart Data Collective

SEPTEMBER 30, 2021

With climate change on the rise, more severe weather events such as drought are becoming more prevalent. Overall, droughts have cost the world $1.5 Overall, droughts have cost the world $1.5 Smart grid systems can benefit a city in numerous ways including 8 : Automatic re-routing when there are abnormalities in the system.

Machine Learning 124

Machine Learning Cost-Benefit Optimization Forecasting 124

CIO Business Intelligence

NOVEMBER 20, 2023

This reduces costs while improving customer experience. Hotels could dynamically adjust room rates based on traffic forecasts, weather conditions, and events in the area. Deloitte estimates that predictive maintenance increases productivity by 25%, reduces breakdowns by 70% and lowers overall maintenance costs by 25%.

Sales 131

Sales Cost-Benefit Manufacturing Forecasting 131

CIO Business Intelligence

NOVEMBER 8, 2023

1 The rapid migration to the public cloud comes with numerous benefits, such as scalability, cost-efficiency, and enhanced collaboration. 6 On top of that, the average cost of a data breach is over $4.4 6 On top of that, the average cost of a data breach is over $4.4 Operational costs. 8 Complexity. 8 Complexity.

Cost-Benefit 135

Cost-Benefit Risk Digital Transformation Reporting 135

CIO Business Intelligence

SEPTEMBER 8, 2022

Gathering and processing data quickly enables organizations to assess options and take action faster, leading to a variety of benefits, said Elitsa Krumova ( @Eli_Krumova ), a digital consultant, thought leader and technology influencer. Advanced analytics can enhance events with scoring models, expanded business rules, or even new data.”.

Cost-Benefit 122

Cost-Benefit Internet of Things Data-driven Data Lake 122

CIO Business Intelligence

JUNE 2, 2022

Among the hot technologies, artificial intelligence and machine learning — a subset of AI that that makes more accurate forecasts and analysis as it ingests data — continue to be of high interest as banks keep a strong focus on costs while trying to boost customer experience and revenue. AI enhances operational efficiency.

Predictive Analytics 145

Predictive Analytics Technology Analytics Machine Learning 145

Cloudera

JANUARY 5, 2021

In today’s retail environment, retailers realize that building demand forecasts simply based upon historical transaction, promo, and pricing data alone is not good enough. Retail supply chains are a recognized and proven source of ROI when data analytics are leveraged to improve forecast accuracy and product availability.

Forecasting 91

Forecasting Cost-Benefit Sales Unstructured Data 91

Smart Data Collective

MARCH 11, 2022

Marketing, product development, and customer experience should all benefit from these discoveries. There are a lot of great benefits of using big data in customer service. Every business’s profitability will be impacted by constantly changing market dynamics and rising customer service costs. Finding New Revenue Sources.

Customer Analytics 122

Customer Analytics Analytics Key Performance Indicator Big Data 122

CIO Business Intelligence

JULY 31, 2024

These models allow us to predict failures early, and we forecast a 20% reduction in furnace unplanned events, improving repair times by at least two days. We’ve also leveraged AI in the supply chain to revolutionize our demand forecasting and supply network planning. So AI helps us have fewer emergencies.

Manufacturing 122

Manufacturing Cost-Benefit Digital Transformation Forecasting 122

AWS Big Data

MAY 4, 2023

Encored Technologies (Encored) is an energy IT company in Korea that helps their customers generate higher revenue and reduce operational costs in renewable energy industries by providing various AI-based solutions. This event-based pipeline triggers a customized data pipeline that is packaged in a container-based solution.

Data-driven 52

Data-driven Technology Cost-Benefit Machine Learning 52

IBM Big Data Hub

FEBRUARY 19, 2024

Effective SCM initiatives offer several benefits: Lower operational costs : By optimizing inventory levels , improving warehousing efficiency and streamlining order fulfillment processes, companies can save on storage, labor and transportation expenses.

Strategy 81

Strategy Management Forecasting Internet of Things 81

Smart Data Collective

MAY 21, 2019

However, there are other benefits of big data that are just as important but receive far less publicity. Disaster planning is one of the areas that can benefit from big data solutions. In 2016, cyber-attacks cost the United States economy between $57 billion and $109 billion. This helps organizations plan for events better.

Big Data 79

Big Data Cost-Benefit Predictive Analytics Insurance 79

Cloudera

SEPTEMBER 18, 2020

Demand Forecasting – Companies must move beyond basic demand forecasting using only historical transaction data to leveraging real-time datasets and external consumer demand signals. Businesses will shift away from over-reliance on any one part of supply chain to avoid potential disruption. Scenario planning and supply chain design.

Manufacturing 85

Manufacturing Forecasting IoT Machine Learning 85

bridgei2i

MAY 26, 2020

By allowing that, they could have a steady demand forecast based on sensing algorithms and react faster to such events. He has delivered hundreds of millions of dollars of impact to his clients in High-Tech CPG and Manufacturing Industries, particularly in the areas of demand forecasting, inventory and procurement planning.

Enterprise 131

Enterprise Management Forecasting Manufacturing 131

Smart Data Collective

AUGUST 26, 2021

Many of the benefits are similar to those of cloud accounting. Before you can appreciate the benefits of using deep learning in accounting, you need to understand the basics of accounting itself. What are the benefits of hiring an accountant today? New advances in deep learning are integrated into various accounting algorithms.

Deep Learning 100

Deep Learning Finance Cost-Benefit Advertising 100

CIO Business Intelligence

OCTOBER 1, 2022

The pandemic, escalating geopolitical tensions, cyberattacks, and severe weather events have made the supply chain a universal issue subject to boardroom and even White House scrutiny. For IT, this means mapping the total end-to-end flow of material, tasks, and costs from product/service design to ultimate customer delivery.

Cost-Benefit 111

Cost-Benefit Manufacturing Forecasting Metrics 111

CIO Business Intelligence

MAY 23, 2023

Our goal will be to achieve this multi-cloud strategy in a way that is cost-neutral to customers, while allowing them to choose where they want to run applications or workloads. That’s what this is all about – ensuring customer choice and flexibility in managing their data and workloads. To learn more, visit Broadcom.

Uncertainty 145

Uncertainty Cost-Benefit Risk Enterprise 145

Jet Global

MARCH 10, 2021

Sales forecasts lay out expected revenue, department heads pull together their wish lists for the coming year, and finance brings it all together into a cohesive structure, after which the negotiation process can begin. Traditionally, business planning happens on a fairly predictable cadence.

Management 98

Management Cost-Benefit Forecasting ROI 98

CIO Business Intelligence

DECEMBER 4, 2024

Global conflicts only add to their uncertainty and vulnerability, with rising production costs exacerbating difficulties. Farmers grappled with fluctuating yields and high costs, but their dependency on spreadsheets and forms was outdated and unable to address their issues. million increase in yield – or a 5.96% improvement. “We

Cost-Benefit 84

Cost-Benefit Uncertainty Manufacturing Forecasting 84

Cloudera

AUGUST 3, 2021

Accurate demand forecasting can’t rely upon last year’s data based upon dated consumer preferences, lifestyle and demand patterns that just don’t exist today – the world has changed. The last eighteen months is causing supply chain forecasters to rethink the definition and incorporate risk into the planning process. .

Analytics 111

Analytics Digital Transformation Forecasting Risk 111

CIO Business Intelligence

NOVEMBER 21, 2023

Still, there is a steep divide between rogue and shadow IT, which came under discussion at a recent Coffee with Digital Trailblazers event I hosted. Communicate clearly and often about policies and their reasons and benefits, create a culture of feedback and collaboration, and be agile and willing to adapt policies as user needs evolve.”

IT 137

IT Risk Cost-Benefit Risk Management 137

Smart Data Collective

DECEMBER 22, 2021

Benefits of Bespoke Business Software. There are many benefits of implementing bespoke management systems that leverage big data, including: Custom-built for Business – Often, off-the-shelf software offers a one-size-fits-all solution with generic features and functionalities that are too rigid for businesses.

Data-driven 96

Data-driven Big Data Cost-Benefit Software 96

IBM Big Data Hub

FEBRUARY 14, 2024

They can also help businesses predict future events and understand why past events occurred. Technical AI use cases Speed operations with AIOps There are many benefits to using artificial intelligence for IT operations (AIOps). These systems can evaluate vast amounts of data to uncover trends and patterns, and to make decisions.

Cost-Benefit 82

Cost-Benefit Insurance Unstructured Data Machine Learning 82

IBM Big Data Hub

FEBRUARY 6, 2024

A prime benefit of cloud computing for business is its flexibility for quickly and efficiently scaling resources to meet business demands, freeing organizations from investing time and expense into expanding their own physical IT infrastructure. Automation Automation tools are a significant feature of cloud-based infrastructure.

Cost-Benefit 98

Cost-Benefit Digital Transformation Software Internet of Things 98

AWS Big Data

JULY 16, 2024

The Zurich Cyber Fusion Center management team faced similar challenges, such as balancing licensing costs to ingest and long-term retention requirements for both business application log and security log data within the existing SIEM architecture. Zurich also uses lifecycle policies to automatically expire objects after a predefined period.

Insurance 106

Insurance Management Cost-Benefit Optimization 106

Smart Data Collective

SEPTEMBER 12, 2021

One of the biggest benefits of big data has been in the field of investing. You can use data analytics tools to forecast future expenses and assess the probability of various costly events (such as your car breaking down based on its age and model), so you can create an emergency fund that addresses these risks.

Data-driven 88

Data-driven Strategy Big Data Cost-Benefit 88

erwin

JUNE 11, 2020

These hospitals are making use of dashboards that provide summary information on hospital patient trends, treatment costs, and waiting times. The retail industry has also employed data intelligence in developing tools to better forecast and plan according to supply and demand trends and consumer Key Performance Indicators (KPI).

Key Performance Indicator 103

Key Performance Indicator KPI Data-driven Machine Learning 103

Jet Global

AUGUST 6, 2020

That’s what I think is really important—benefiting the business. I run an event called the Financial Career Growth Master Class, and part of that is called “The Learning Journey from Accountant to CFO.” How does finance drive business performance? What do accountants need to do to become CFOs?

Strategy 96

Strategy Finance Forecasting Consulting 96

Jet Global

JUNE 29, 2020

High-level methods and tools project future trends, behaviors, and events, giving organizations the ability to put together “what-if” models and calculations in effort to future-proof aspects of their operations. It serves as an umbrella term for several sub-fields of analytics that work together using predictive capabilities.

Analytics 98

Analytics Reporting Cost-Benefit Data mining 98

DataRobot

JANUARY 25, 2022

While a daunting prospect, time series can help solve these problems using demand forecasting and anomaly detection models. Demand forecasting allows companies to optimize the operations of their essential business units, resulting in straightforward capacity planning, inventory allocation, and product replenishment. Applications.

Forecasting 52

Forecasting Cost-Benefit Data-driven Data Science 52

CIO Business Intelligence

MAY 24, 2022

Providing a platform for fact-based and actionable management reporting, algorithmic forecasting and digital dashboarding. The third will examine the challenges of realising that value, the attributes of a successful data-driven organisation, and the benefits that can be gained. THE GROWTH OF DATA. Oil and Gas.

Data-driven 98

Data-driven Data Lake Data Warehouse Cost-Benefit 98

AWS Big Data

MARCH 25, 2024

They can perform a wide range of different tasks, such as natural language processing, classifying images, forecasting trends, analyzing sentiment, and answering questions. For example, in a chatbot, data events could pertain to an inventory of flights and hotels or price changes that are constantly ingested to a streaming storage engine.

Data Lake 97

Data Lake Unstructured Data Management Snapshot 97