Analytics

Data becomes useful information only when it is analyzed by some means. The first step towards data analysis is the proper representation of the collected data. Data visualization makes data appealing and easily intelligible to the viewer by representing the data in a graphical form. The importance of data visualization is underscored by the sheer volume of data that organizations must deal with daily. The easy availability of computers has simplified the task of data…

Data has always been an anchor for businesses for making strategic choices and managing daily operations. In the past, data was handled manually, and hence, the scope of harnessing critical business information was limited. Once computers became an integral part of business workflows, users got an easier way to maintain and visualize data through spreadsheets like Microsoft Excel. Using such an application, businesses could store data in the preferred format, apply advanced features such as…

Deciding on the most appropriate vendor for your business data analytics can be a very challenging task. Most businesses go wrong when they base this choice blindly on the vendor’s premeditated demonstrations. One should beware of such traps because many a times, these demos are showcased at the backdrop of custom-built scenarios and predefined data. The correct way to moderate this vital decision is to pivot your judgment on the basis of answers to questions…

In the 2012 Hollywood movie “Act of Valor”, US Navy Seals launch a Raven UAV to procure live video streaming for identifying targets prior to a raid. In yet another movie, “Zero Dark Thirty”, analysts use FMV/ drone feed to re-create Bin Laden’s compound for training US Navy Seals, and later guide them to accomplish their mission. The growing use of image analytics in tracking, detecting, analyzing and predicting outcomes have been effectively used by…

If you are using a dashboard to tailor strategies and yet struggling to make headways in the market, you have a real problem in hands. A possible reason for your struggle is that you have relied too heavily on the summary of recommended actions and followed them to a T, without quite realizing that your competitor too might be following the same set of recommendations. Yet another reason might be the inability of your dashboard…

Choosing a vendor for data analytics can be a tricky task. Most businesses go wrong in relying solely on the vendor’s pre-canned demonstration. Such demonstrations, based on tailor-made scenarios and predefined set of data create an alluring trap for the unsuspecting customer. The right approach is to evaluate and judge them on the basis of answers to questions that lie in the heart of your business. This way, you get the best vendor for your…

The festive bells are ringing and it’s time for retailers to make the most of it. And who other than a retailer would know how cruel things can get during this time of the year. As a retailer you must be knowing how things went wrong last season, when you had to put up with a loss for under estimating or over estimating product demand, or how a sudden resource crunch let you down and…

Analytics has given police officers access to a broader array of integrated, actionable intelligence needed to solve crimes. By deploying analytics, police force around the US and Europe have been able to improve incident detection and response times considerably. Let’s take, for example, Vancouver Police’s analytics based crime intelligence system, which has helped it foresee crimes happening with a fair degree of success. The system maps criminal activities over time, and tracks the movements of…

Like organizations, educational institutions too are amassing huge amounts of data by the day. The data springs from a broad range of sources such as learning activities, grades, textbook purchases, attendance, location, socio-economic data, enrollment forms, parental status etc. Till a few years back, this data could have been put to little use, except for maintaining institutional statistics or producing profile report. But today, thanks to analytics, this data is seen more as wealth from…

Talk about sports analytics to a traditional coach and he will rubbish it with a frown. For most coaches, it’s a concept that needlessly complicates matters which can be better sorted with sporting acumen gathered through experience and intuition. At a time when most decisions are being taken on analytics based predictions, distrusting the predictability of numbers over the unpredictability of human nature in sports is like living in a state of self-denial. Whether they…