An application programming interface (API) is a powerful technology and a growing concept in the software development sphere. It can be used in a variety of business functions and in applications that we regularly use. We frequently hear about APIs, but most of us don’t realize that they have become more prevalent in our daily […]
Real-Time Data Processing Is No Longer the Future – It Is Essential Right Now
World-wide real-time data grows exponentially every minute as more people use more devices, websites, IoT sensors, and other ways to stay connected. Today, the ability to instantly analyze and capitalize on streaming data, precisely when it is generated, is key to the success or failure of an organization. While the customer is still king, real-time data processing supplies […]
Data Science: How to Shift Toward More Transparency in Statistical Practice
Data Science and statistics both benefit from transparency, openness to alternative interpretations of data, and acknowledging uncertainty. The adoption of transparency is further supported by important ethical considerations like communalism, universalism, disinterestedness, and organized skepticism. Promoting transparency is possible through seven statistical procedures: Data visualization Quantifying inferential uncertainty Assessment of data preprocessing choices Reporting multiple models Involving […]
5 Best Practices to Reap the Benefits of Data Democratization
In the digital age, the success, growth, and maximization of opportunities of an organization depend on insights gained from data. Analytics and business intelligence (ABI) tools enable organizations to drive greater meaning from their data to protect revenue streams, minimize risk, adapt to rapidly changing business environments, and better serve their customers. In many cases, […]
The IRS Embraces Big Data to Fight Tax Fraud
After years of hiding in plain sight, cyber entrepreneurs and investors have finally caught the attention of the IRS. This is due mainly to the rise of non-fungible tokens (NFTs) and the crypto bubble. In addition to tech millionaires secreting their wealth in cryptocurrencies and digital banks, increased incidences of identity theft and refund fraud […]
Small and Medium-Sized Businesses Need Self-Serve Advanced Analytics
If your small or medium-sized business (SMB) is looking for ways to improve forecasting, problem-solving, and market opportunities, it must embrace self-service advanced analytics that allow business users to leverage their role, their knowledge of their business function, and their collaborative initiatives to gather, analyze, and share information and improve business results. According to Gartner, natural […]
Unlocking the Value of Hidden, Unstructured Data
Data is the fuel of the fourth industrial revolution. Data is the lifeblood of the enterprise. Data powers the information age. We’ve heard these statements so many times that they’ve almost lost their meaning. But what if I were to tell you that you are only using 10 to 20% of this fuel to power […]
5 Ways Data Can Help Save the Planet
A sustainable and equitable world is the holy grail – a world in which planet comes before profit; where equality, diversity, and inclusion are a prerequisite; and where ethics are baked into every aspect of our society and business. While this may seem like decades away from becoming a reality, there is hope. If the UN […]
How Low-Code Is Bridging the Gap Between Data Scientists and Businesses
Coding is a foreign language for many high-level and C-suite executives who lead corporations today. However, it’s hard to find anyone who doesn’t understand the importance of technology and how our future will hinge on mastering it. Although many computer scientists argue in favor of low-code software for data scientists, there is an argument to […]
10 Actionable Steps to Create a Data-Driven Culture
By capitalizing on your data assets, do you want to acquire fruitful outcomes and actionable insights to make more informed and rational business decisions? To make your business a purely data-driven entity with a highly streamlined and targeted approach, you must embrace the change dictated by the valuable insights from the correct data analysis. By […]