Our network

data mining

The Fallacy of the Data Scientist Shortage

April 1, 2012 by Neil Raden
with 1,164 views
2

Photo by justgrimes via Flickr

The shortage of data scientists to handle big data is overblown. Much of these activities are currently practiced, albeit without Hadoop and some other recent innovations. But the simple truth is that even data scientists spend a good portion of their day doing things that can be done by others. In addition, the demand for data scientists is hardly even across industries and those that require these skills already have them or know how to get them, either through employment, 3rd party analytics providers, purchased apps or consulting. [read more]

How to Use Pivot Tables to Mine Your Data

December 19, 2011 by Jay Arthur
with 464 views
0

Here is a detailed example of using Pivot Tables to mine your data. These examples use Excel along with QI Macros for Excel. [read more]

Value at Risk Segmentation and Retention Campaigns

November 21, 2011 by Antonios Chorianopoulos
with 152 views
0

"Churn models estimate the churn propensity for each customer, indicating the likelihood of churn. Through simple computations and binning, customers can then be assigned to distinct groups based on their churn score. For instance, appropriate cut-off values can be selected and customers can be divided into groups of low, medium and high churn likelihood as a result of a churn model." [read more]

Tips for Developing a BI Roadmap

November 18, 2011 by Smart Analytics
with 626 views
0

"Every BI Manager must know that the 3 key expectations that any business group has from their BI infrastructure are data availability, data reliability and data completeness. Even if one of these is not fulfilled, the business will not be able to make the right decisions." [read more]

Freakonomics and Your Data

November 8, 2011 by Jay Arthur
with 464 views
0

Many companies and employees are afraid of data and of doing the analytics. It doesn't have to be hard and you don't have to be good at math. [read more]

exclusive

Take the Predictive Analytics in the Cloud survey

September 20, 2011 by James Taylor
with 99 views
0

"Decision Management Solutions, the company of which I am CEO, is running a study on Predictive Analytics in the Cloud with the folks here at SmartData Collective. Both Predictive Analytics and Cloud are hot topics and the intersection has tremendous potential....To find out what you think we have opened a survey and you can take it right now here on SmartData Collective..." [read more]

exclusive

Predictive Analytics World New York City Conference Announces Speaker Line-Up

May 24, 2011 by Bobbe Cook
with 146 views
0

Predictive Analytics World, the business-focused event for predictive analytics professionals, managers and commercial practitioners, today announced the speaker line-up for the October 17-21, 2011 conference in New York City, New York [read more]

exclusive

Top 10 analytics mistakes

October 28, 2010 by James Taylor
with 2,108 views
1

One of my favorite presenters, John Elder, presented his top 10 analytic mistakes at Teradata Partners. Lack Data is problem zero - obviously you need data to do data mining and analytics. Without data that is relevant to the problem you cannot use analytics to solve it. In particular it can be hard when there are too few cases to use... [read more]

exclusive

Right Time Business Optimization

October 28, 2010 by James Taylor
with 1,538 views
1

Mike Ferguson presented on Right Time Business Optimization using on-demand and event-driven analytics at the Teradata Partners conference. Business optimization, Mike says, is about continuously knowing what is the best action to take and when to take it in every business process to dynamically keep a business running optimally... [read more]

exclusive

The three legged stool - business, analytics, IT

October 25, 2010 by James Taylor
with 2,020 views
6

I was inspired to write something this week on the need to get people to collaborate by a post Jim Harris wrote called The Business versus IT—Tear down this wall! and the response Gary Cokins made in That Wall Dividing IT and Users. Both Jim and Gary make the point that collaboration between business and IT organizations and people is... [read more]

exclusive

Analytics and the myth of the aha moment

September 23, 2010 by James Taylor
with 1,937 views
5

I often hear people talk about analytics, especially advanced analytics like data mining or predictive analytic modeling, as though the value comes from "aha moments". Sudden moments of clarity, defining moments, where the analytics deliver some piece of dramatic insight that enables a company to see some fantastic new market... [read more]

exclusive

It's time to industrialize analytics

August 19, 2010 by James Taylor
with 3,086 views
11

There's a lot of talk about advanced analytics these days - the use of data mining and predictive analytics is growing rapidly so lots of articles, books (like Tom Davenport's latest) and blog posts are being written. One of these was by Jeff Kelly over on TechTarget on Data analytics team’s needs and, while I agree with some of what was... [read more]

Learning R

June 17, 2010 by David Smith
with 596 views
0

When R is brought up as a possibility for doing statistics or data mining or any sort of predictive analytics among non R users, someone will invariably point out that R has a “steep learning curve”, and the response among those gathered usually includes a significant amount of head nodding. Even those who have put in heroic... [read more]

Promoting Poor Data Quality

June 16, 2010 by Jim Harris
with 577 views
0

A few months ago, during an e-mail correspondence with one of my blog readers from Brazil (I’ll let him decide if he wishes to remain anonymous or identify himself in the comments section), I was asked the following intriguing question: “Who profits from poor data quality?” The specific choice of verb (i.e., “profits”) may have been a... [read more]

Why Are There Irrational Business Decisions?

June 16, 2010 by Gary Cokins
with 3,950 views
2

I recently attended a presentation by Dr. Franck Schuurmans, a guest lecturer at the Wharton Business School and a consultant for Decision Strategies International. He captivated the audience with explanations as to why decision makers make irrational business decisions.A simple exercise he used with the audience to demonstrate one of... [read more]

The opportunity for opportunity analytics

June 16, 2010 by James Taylor
with 891 views
0

Some time ago Neil Raden and I did some research on analytics. It was clear as we did this that there were two main threads of analytic use in companies - risk analytics and opportunity analytics. I blogged before on the use of analytics to manage risk one risk at a time so I thought I would write about opportunity analytics. Risk... [read more]