Click to learn more about author Kartik Patel. What Is Naïve Bayes Classification? Naive Bayes is a classification algorithm that is suitable for binary and multiclass classification. It is a supervised classification technique used to classify future objects by assigning class labels to instances/records using conditional probability. In supervised classification, training data is already labeled with […]
Best Practices to Utilize Your Customer’s Risk Profiles to Increase Revenue and Customer Experience
Click to learn more about author Stuart Tarmy. The pandemic has dramatically transformed a number of industries, including online banking and e-commerce. Some 86% of Americans now use online banking and e-commerce in the U.S. This number has exploded by over 44% from last year. Unfortunately, fraudsters have seized on this spike in online activity to […]
Blockchain Offers Internet of Things Data Quality and Data Security
The rapid advances of blockchain technology and the Internet of Things are changing how business on the internet gets done. Blockchain provides superior data security and Data Quality and, as a consequence, is changing the way people approach big data. This can be quite useful, as security remains a primary concern for Internet of Things […]
How C-Stores Can Optimize Both the Customer Experience and Data Security
Click to learn more about author Tom Callahan. Over the past year, the COVID-19 pandemic has all but silenced any remaining doubt regarding the importance of digital transformation – a truth that is evident across virtually every aspect of how the world now works, shops, and lives. Retailers, and convenience stores (c-stores) in particular, had […]
Making Business Decisions with Mathematical Optimization
Click to learn more about author Keith D. Foote. Mathematical optimization has become a problem-solving technology that can be used to automatically generate solutions to business problems. It helps in selecting the best business choices possible. One basic feature of mathematical optimization is the recognition that decisions, and their resulting actions, have far reaching implications […]
Prescriptive Analytics Use Cases
The term “prescriptive analytics” denotes the use of many different disciplines such as AI, mathematics, analytics, or simulations to advise the user whether to act, and what course of action to take. In that sense, prescriptive analytics offers an advisory function regarding the future, rather than simply “predicting” what is about to happen. This newer […]
Why Marketers Should Understand AI
Click to learn more about author Ingrid Burton. Marketers today have more data available to them than ever before. Applying artificial intelligence (AI) to that data is necessary to driving marketing effectiveness in today’s competitive digital world. When properly harnessed, AI provides insights that help achieve lower customer acquisition costs, greater lifetime spending per customer […]
Stepping into Web Data Parsing: An Overview
Click to learn more about author Juras Juršėnas. As far as I can remember, the usefulness of online public data was always pitched against the efforts of extracting and structuring it. However, going from raw data to a well-structured and parsed output takes a considerable amount of time, effort, and resources. Even once the initial […]
How Will AI Impact the Transportation Industry?
Click here to learn more about Gilad David Maayan. Artificial intelligence (AI) is at the root of many new services and is helping to advance a wide range of technologies and fields. Transportation is one of these fields. When AI is applied, transportation can become faster, more efficient, more reliable, and safer. It enables drivers […]
Driving an Organizational Culture Shift to Realize the Potential of AI in Life Sciences
Click to learn more about author Updesh Dosanjh. Artificial intelligence (AI) and machine learning (ML) are present in nearly every industry today. However, not all industries have readily embraced these technologies with open arms. Due to the nature of the business, the life sciences industry has historically been careful about its adoption of new technologies. […]