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Predictive Analytics

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New Generation of Technology Will Rely on Analytics, Study Shows

December 16, 2014 by Jeff Brown

“We are in a time of profound change for business, technology and IT leadership,” said Leon Kappelman, Ph.D., Professor at the University of North Texas and SIM’s lead researcher and Professor of Information Systems at the University of North Texas. “Results show the focus of IT organizations and their leaders is changing, with a new emphasis on business value, strategy, innovation and speed.”[read more]

Alfred Hitchcock and a Classic Forecasting Scam

December 15, 2014 by Michael Gilliland

Alfred Hitchcock.

Suppose you received an email from a self-proclaimed forecasting savant, advising you of a big upset in the upcoming mayoral election...and it turns out to be correct. You then get an email picking the underdog in the next championship boxing match...which is right again.[read more]

Ignore Your Business, Rake in the Profits

December 12, 2014 by Bill Franks

Analytics.

Bring together a few people for several hours. Bring an inventory of the various data sources your organization has access to. Then, brainstorm ways that the analysis of that data can be of value to anyone except your organization. Don’t talk about understanding your business with the data, but rather talk about what opportunities the data can support for others outside the organization.[read more]

How to Stay Out of Cash Flow Crises Using Cash Position Analysis

December 10, 2014 by Keith Peterson

Cash position analysis.

Cash flow is the lifeblood of every company. Diligent financial analysis, including the Cash Position Waterfall, is an essential component to monitoring the current health of your business. However not all of us are financial analysts who like to wade through detailed spreadsheets.[read more]

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What the Ebola Crisis Has Taught Us About Big Data

December 9, 2014 by Gil Allouche

Ebola.

There is tremendous potential for big data analytics in healthcare. Hospitals and pharmaceutical companies are already using it for research and diagnoses. There is also tremendous potential in using big data for disease prevention. Back in March, HealthMap predicted an Ebola outbreak about 9 days before the World Health Organization (WHO) formally announced the epidemic.[read more]

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5 Common Use Cases for Hadoop in Retail

November 20, 2014 by Sameer Nori

Hadoop in retail

Retailers can focus on the shopper as an individual, rather than aiming at the masses and hoping to snag a few. Where there once were customer panels, in-store surveys, focus groups, and guesswork, there is now social media, online search behavior, and easy-access customer input.[read more]

Miss the Right Connections at Your Own Peril

November 14, 2014 by Bill Franks

connection analytics / shutterstock

Part of what makes the analysis of connections so powerful is that while virtually every metric typically used for analysis focuses only on facts about each individual entity, the analysis of connections makes it possible to also understand each entity’s relationships to others[read more]

How to Get Started with Value Add Forecasting

November 6, 2014 by Ray Major

Value add forecasting.

So the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. There is a sense of urgency surrounding this new high profile initiative. One may ask, “What’s next?” Well, here are a few steps that you will need to take to deploy your forecasts successfully.[read more]

Forecasting: It’s What’s Hot in Supply Chain Analytics

October 29, 2014 by Ray Major

Supply chain analytics.

In the world of commerce, every business ecosystem has a type of supply chain that is critical to corporate operations. These supply chains rely on a network of plants and facilities to add value to and transform raw materials into a final product.[read more]

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3 Tips to Make You a Genius Forecaster

October 13, 2014 by Paul Barsch
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Forecasting is hard, and even those who sometimes get it right, often fail on a continuous basis. But fear not, there are three steps you can take to drastically improve your forecast accuracy, but you’ll have to be willing to put in the work, and possibly put your ego aside to get there.[read more]

Who Gets the Call When Your Analytics Process Crashes?

October 10, 2014 by Bill Franks

Analytics matters.

I recently had a meeting with one of the largest companies in the world, where we discussed concerns about ongoing maintenance and, more importantly, ongoing repair required for analytics processes. The conversation helped solidify in my mind a major disconnect that often occurs when organizations deploy an analytics process into a production setting. Let’s walk through that disconnect here.[read more]

Descriptive, Predictive, and Prescriptive Analytics Explained

October 8, 2014 by Ray Major
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Analytics explained.

With the flood of data available to businesses regarding their supply chain these days, companies are turning to analytics solutions to extract meaning from the huge volumes of data to help improve decision making.[read more]

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Fine-Tuning Manufacturing Operations with Big Data and Hadoop

October 6, 2014 by Sameer Nori

Manufacturing pperations and Hadoop.

Your organization is a lean, mean Six Sigma machine. The corporate culture is centered on continuous improvement, with everyone well versed in Kaizen. Your supply chain is well oiled, which should provide assurance about product quality. And yet you wonder: is it possible to improve operations even further?[read more]

How Biostatistics and Spatio-Temporal Modeling Can Be Used to Protect Human Health

October 2, 2014 by Lillian Pierson

Air pollution. 

In an exclusive interview for Statistics Views, Dr. Chien gives an overview on his research, on how his research can be used to improve human health conditions in Taiwan, and on his favorite statistical method for analyzing space-time data related to particulate matter air pollution.[read more]

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Hadoop in Advertising & Media: Is Data Analytics Making Old Media New?

October 1, 2014 by Sameer Nori
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Hadoop in advertising and media.

Imagine the chance to truly connect with a customer. Imagine if you knew what movies and television shows they watched, and not only when, but how often. Imagine knowing what screen they watched it on and how they shared it socially. Imagine knowing what they like, or dislike, and knowing it in real-time.[read more]