CIO Business Intelligence

JUNE 7, 2022

The chief aim of data analytics is to apply statistical analysis and technologies on data to find trends and solve problems. Data analytics draws from a range of disciplines — including computer programming, mathematics, and statistics — to perform analysis on data in an effort to describe, predict, and improve performance.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

Rocket-Powered Data Science

OCTOBER 6, 2023

What is the point of those obvious statistical inferences? The point is that the 100% association between the event and the preceding condition has no special predictive or prescriptive power. How do predictive and prescriptive analytics fit into this statistical framework?

Business Analytics 157

Business Analytics Prescriptive Analytics Analytics Statistics 157

Smarten

JULY 9, 2018

Create Citizen Data Scientists with Assisted Predictive Modeling! You need Assisted Predictive Modeling (Plug n’ Play Predictive Analysis with auto-suggestions and recommendations). The Plug and Play Predictive Analytics and predictive modeling platform is suitable for business users.

Predictive Modeling 40

Predictive Modeling Modeling Predictive Analytics ROI 40

Smarten

JULY 30, 2024

Assisted Predictive Modeling Enables Business Users to Predict Results with Easy-to-Use Tools! Gartner predicted that, ‘75% of organizations will have deployed multiple data hubs to drive mission-critical data and analytics sharing and governance.’

Predictive Analytics 64

Predictive Analytics Prescriptive Analytics Predictive Modeling Analytics 64

Smarten

MARCH 13, 2018

That may seem like a tall order but with the right business intelligence software, you can provide predictive analytics for business users, including assisted predictive modeling that walks users through the analytical process and allows them to achieve the best results without a sophisticated knowledge of data analytical techniques.

Predictive Modeling 40

Predictive Modeling Modeling Analytics Predictive Analytics 40

Smarten

JULY 23, 2019

Put simply, predictive analytics is a method used to forecast and predict the future results and needs of an organization using historical data and a comprehensive set of data from across and outside the enterprise. Predictive Modeling allows users to test theories and hypotheses and develop the best strategy.

Modeling 64

Modeling Predictive Analytics Predictive Modeling IT 64

David Menninger's Analyst Perspectives

NOVEMBER 7, 2024

Over the past few years, business planning software providers have made it somewhat easier for enterprises to incorporate things as well as their monetary impact by incorporating both sales and headcount planning functionality to streamline the budgeting process.

Forecasting 130

Forecasting Machine Learning Finance Predictive Analytics 130

Smarten

JUNE 25, 2018

This article provides a brief explanation of the definition and uses of the Descriptive Statistics algorithms. What is a Descriptive Statistics? Descriptive statistics helps users to describe and understand the features of a specific dataset, by providing short summaries and a graphic depiction of the measured data.

Statistics 40

Statistics Enterprise Measurement Business Intelligence 40

AWS Big Data

DECEMBER 19, 2024

For example, the data science team quickly developed a new predictive model for sales by reusing data already available in Amazon DataZone, instead of rebuilding it from scratch.

Data Governance 52

Data Governance Publishing Data-driven Metadata 52

Smarten

SEPTEMBER 28, 2022

Predictive Analytics utilizes various techniques including association, correlation, clustering, regression, classification, forecasting and other statistical techniques. Predictive Analytics Using External Data. Online Target Marketing.

Predictive Analytics 52

Predictive Analytics Analytics Predictive Modeling Forecasting 52

IBM Big Data Hub

SEPTEMBER 19, 2023

Data science is an area of expertise that combines many disciplines such as mathematics, computer science, software engineering and statistics. The benefits of data analytics Business decision-makers can perform data analytics to gain actionable insights regarding sales, marketing, product development and other business factors.

Data Science 76

Data Science Data Analytics Prescriptive Analytics Analytics 76

Smarten

DECEMBER 17, 2018

Tools like Assisted Predictive Modeling allow the average business user to become a Citizen Data Scientist with tools that offer guidance and auto-suggestions to help the user arrive at the outcome they need without being frustrated or having to call in an army of analysts and IT staff to help them complete their analysis.

Predictive Analytics 40

Predictive Analytics Predictive Modeling Analytics Statistics 40

Birst BI

OCTOBER 30, 2018

The foundation of predictive analytics is based on probabilities. To generate accurate probabilities of future behavior, predictive analytics combine historical data from any number of applications with statistical algorithms. A well-designed credit scoring algorithm will properly predict both the low- and high-risk customers.

Predictive Analytics 73

Predictive Analytics Descriptive Analytics Analytics Metrics 73

Smarten

JUNE 29, 2018

The independent sample t-test is a statistical method of hypothesis testing that determines whether there is a statistically significant difference between the means of two independent samples. Business Problem: A Grocery store sales manager wants to know whether customer segment A spends more on groceries than customer segment B.

Testing 40

Testing Statistics IT Business Intelligence 40

Smarten

JUNE 29, 2018

Simple Linear Regression is a statistical technique that attempts to explore the relationship between one independent variable (X) and one dependent variable (Y). Business Problem: An eCommerce company wants to measure the impact of product price on product sales. The dependent variable is product sales data for last year.

Enterprise 40

Enterprise Statistics Sales Business Intelligence 40

Smarten

JUNE 29, 2018

At 95% confidence level (5% chance of error): As p-value = 0.041 which is less than 0.05, there is a statistically significant difference between means of pre and post sample values. Marketing – Have sales increased following a particular campaign? Here the dependent variable would be ‘Daily sales’.

Business Analysis 40

Business Analysis Testing Statistics Advertising 40

Smarten

JUNE 29, 2018

Multiple Linear Regression is a statistical technique that is designed to explore the relationship between two or more variables (X, and Y). Business Problem: An ecommerce company wants to measure the impact of product price, product promotions, and holiday seasonality on product sales. The dependent variable is product sales data.

Business Analysis 40

Business Analysis IT Sales Statistics 40

Darkhorse

JULY 6, 2017

Let’s further pretend you’re starting out with the aim of doing a big predictive modeling thing using machine learning. Summary statistics are not your friend – they may in fact lead you astray. You might see something like this: Huh…It looks like sales of the dark blue have really dropped off. So what is data wrangling?

Data Lake 74

Data Lake Sales Machine Learning Visualization 74

AWS Big Data

AUGUST 21, 2024

The expected data scan is predicted by machine learning (ML) models based on prior historical run statistics. Use case 1: Scale compute based on query complexity The following query analyzes product sales across multiple channels such as websites, wholesale, and retail stores.

Optimization 88

Optimization Data Lake Data Warehouse Cost-Benefit 88

Smarten

JUNE 29, 2018

Correlation is a statistical measure that indicates the extent to which two variables fluctuate together. For example, sale of ice cream and the sale of cold drinks are related to weather conditions. This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business.

Enterprise 40

Enterprise Statistics IT Business Intelligence 40

Smarten

JUNE 26, 2018

Business Problem: A pharmaceutical company wants to predict the sales of a drug for the next two months, based on drug sales data from the past 12 months. Business Benefit: The business can make use of these forecasts for better planning of drug production and accuracy of sales targets. About Smarten.

Forecasting 40

Forecasting Enterprise IT Sales 40

Smarten

JUNE 21, 2018

Time series forecasting methods are used to extract and analyze data and statistics and characterize results to more accurately predict the future based on historical data. Business Problem : Insurance claim manager wants to forecast policy sales for next month based on past 12 months data.

Forecasting 40

Forecasting Enterprise IT Predictive Modeling 40

DataRobot Blog

DECEMBER 1, 2022

Companies offer incentives such as coupons to boost sales. You might then select a specific coupon for everyone in that segment to increase quarterly sales. To get started with DataRobot, connect or import the datasets you already have from your existing mar-tech, CRM, and offline sales and marketing channels.

Machine Learning 52

Machine Learning Statistics Marketing Sales 52

Smarten

JULY 10, 2018

Use Case(s): Predicting Loan Default, Predicting Success of Medical Treatment and more. Use Case(s): Impact of Product Pricing, Promotion on Sales, Impact of rainfall, humidity on crop yield an more. Use Case(s): Measure the impact of product price on product sales, measure the impact of temperature on crop yield an more.

Analytics 40

Analytics Forecasting Statistics Sales 40

Smarten

JUNE 26, 2018

Business Benefit: The darker segments reveal the ideal methods of product bundling and placement to increase cross-sales. Based on the association rules generated, the store manager can strategically place the products together or in sequence leading to growth in sales and in turn revenue of the store.

Business Intelligence 40

Business Intelligence Sales Predictive Modeling Statistics 40

Smarten

JUNE 25, 2018

Business Problem: Discount Analysis and Customer Retention will help the organization to target discounts to specific customers and the business will need to visualize ‘segments of sales group based on discount behavior’ and ‘customer churn to identify segments of customers on the verge of leaving’.

Enterprise 40

Enterprise IT Business Intelligence Predictive Modeling 40

Smarten

JUNE 29, 2018

ARIMAX provides forecasted values of the target variables for user-specified time periods to clearly illustrate results for planning, production, sales and other factors. About Smarten.

Forecasting 40

Forecasting Enterprise IT Business Intelligence 40

BI-Survey

JANUARY 29, 2023

In the context of corporate planning, predictive planning and forecasting, it is therefore a major trend to use predictive models based on statistical methods and ML for forecasting and thorough analysis. Managers need to approve and commit resources, but also understand the benefits and limitations of predictive models.

Forecasting 52

Forecasting Predictive Modeling Measurement Finance 52

Smarten

JUNE 29, 2018

Business Benefit: Based on the rules generated, the store manager can strategically place the products together or in sequence leading to growth in sales and, in turn, revenue of the store. Offers such as “Buy this and get this free” or “Buy this and get % off on this” can be designed based on the rules generated. Use Case – 2.

Business Analysis 40

Business Analysis IT Business Intelligence Sales 40

Alation

APRIL 25, 2023

Predictive models indicate that the machine learning market will grow at a compound annual growth rate (CAGR) of 38.8% Whether you deal in customer contact information, website traffic statistics, sales data, or some other type of valuable information, you’ll need to put a framework of policies in place to manage your data seamlessly.

Data Governance 52

Data Governance Marketing Machine Learning Sales 52

Smarten

DECEMBER 3, 2023

The augmented analytics search engine allows users to factor in several variables, e.g., a list of sales team members, a time period or range, a category of products or items etc.

Key Performance Indicator 52

Key Performance Indicator Analytics IT Predictive Analytics 52

Cloudera

DECEMBER 20, 2017

And, we often use some form of pattern detection in our daily lives to help us solve problems or predict our next-best course of action. Consider the store manager who observes sales trends to avoid having too little or too much product on the shelves.

Machine Learning 40

Machine Learning Reporting Statistics Modeling 40

Occam's Razor

OCTOBER 17, 2023

How can you possibly say 350 responses are statistically significant, we have 400,000 visits to our website every day? It does not matter if you are in Marketing or Sales or Finance or HR. Smart – trusted, but verified – prediction models. Of all the strategies I’m recommending, this will be the hardest.

KPI 60

KPI Metrics Finance Key Performance Indicator 60

Alation

APRIL 25, 2023

Predictive models indicate that the machine learning market will grow at a compound annual growth rate (CAGR) of 38.8% Whether you deal in customer contact information, website traffic statistics, sales data, or some other type of valuable information, you’ll need to put a framework of policies in place to manage your data seamlessly.

Data Governance 40

Data Governance Marketing Machine Learning Sales 40

Domino Data Lab

AUGUST 22, 2019

Although it’s not perfect, [Note: These are statistical approximations, of course!] GloVe and word2vec differ in their underlying methodology: word2vec uses predictive models, while GloVe is count based. time series, stock prices), sales figures, temperatures, and disease rates (epidemiology). Example 11.6 Note: Cho, K.,

Deep Learning 111

Deep Learning Modeling Metrics Testing 111

Jet Global

MAY 1, 2023

Net sales of $386 billion in 2021 200 million Amazon Prime members worldwide Salesforce As the leader in sales tracking, Salesforce takes great advantage of the latest and greatest in analytics. Salesforce monitors the activity of a prospect through the sales funnel, from opportunity to lead to customer.

Analytics 52

Analytics Cost-Benefit Visualization Dashboards 52

Jet Global

MAY 9, 2024

Machine Learning Pipelines : These pipelines support the entire lifecycle of a machine learning model, including data ingestion , data preprocessing, model training, evaluation, and deployment. For example, retail companies can monitor sales transactions as they occur to optimize inventory management and pricing strategies.

Data Lake 52

Data Lake Data Warehouse Business Intelligence Machine Learning 52