As digital technologies spread their roots in the business world, organizations have access to more data than ever. This data becomes an essential organizational asset when utilized for enriching business strategies. But the process of turning data into insights is as important as the data itself. Hence, more and more organizations across sectors are deploying advanced analytics to grow […]
Data Science Solutions: Applications and Use Cases
Data Science is a broad field with many potential applications. It’s not just about analyzing data and modeling algorithms, but it also reinvents the way businesses operate and how different departments interact. Data scientists solve complex problems every day, leveraging a variety of Data Science solutions to tackle issues like processing unstructured data, finding patterns […]
Do You Really Need a Data Catalog?
A data catalog can be an excellent resource for a business. An important element of modern metadata management, it can make many workflows and business processes clearer, encourage better cross-departmental collaboration, and boost productivity in several key ways. Gretchen Burnham and Becky Lyons of First San Francisco Partners recently sat down with DATAVERSITY® to talk about some of the big questions in […]
How Analytics Consumers and Data Experts Can Come Together to Close Insights Gaps
Data is critical to empowering businesses to make decisions that translate into boosted bottom lines. However, a recent NewVantage survey found that only 24% of the workforce is confident in their ability to read, work with, and analyze data. As a result, many organizations depend on data experts to obtain relevant insights that inform decision-making, which reinforces silos that separate […]
Why Digital Analytics Is So Important Today – and Three Real-World Practical Use Cases
The COVID-19 pandemic forced almost every organization to adapt to digital ways of working and operating virtually overnight – no matter their sector. It was a culture shock that meant brands had to accelerate their digital transformation strategies at short notice and push through changes that had been in development or stuck on board agendas […]
How to Become a Data Quality Analyst
Data quality refers to the planning and implementation of quality management measures for the data that companies generate. The idea is that the data should fit the end goal of the data consumer’s needs – and must follow specific quality dimensions to be deemed fit for use. The role of a data quality analyst (DQA) is to ensure […]
Can Predictive Analytics Provide Accurate Results Without Burdening Users?
If your business is struggling to forecast and predict outcomes and results, your management team is probably considering predictive analytics. The technology research firm Gartner states that “by 2025, 50% of data scientist activities will be automated by artificial intelligence, easing the acute talent shortage.” For the average team member, the concept of predictive analytics may seem daunting, […]
Using Data Analytics to Understand Gross Margin Attribution
Companies across sectors and of all sizes face a common problem: understanding their profit margins and identifying the levers that are attributing to those margins. It’s as fundamental to business operations as you can get – if the margin isn’t there, you’re not going to have a viable business, and in an increasingly data-driven world, businesses that […]
What Is Streaming Analytics?
Data intake is an ongoing process, so the filtering and analysis process works best when it is continuous. However, most organizations struggle with this aspect and instead process data in batches. Streaming analytics, also known as event stream processing, solves this issue by employing methods such as continuous queries to process and analyze data in real time. […]
The Role of Decision Science in Shaping Business Analytics
The field of decision science focuses on making data-informed decisions. Decision science helps to analyze the impact of a decision on the business. The best decisions are often made with a combination of data and precise business questions. The more precise the questions, the more precise the data requirements will be. Harvard’s Center for Health […]