Business intelligence (BI) refers to the process of collecting, analyzing, and interpreting business data to unlock business potential. In 2023, business intelligence plays a crucial role in the growth and success of global businesses, providing benefits that help them gain a competitive edge. BI tools assist business leaders in making data-driven decisions and provide them […]
A Brief History of Natural Language Processing
Natural language processing (NLP) helps computers understand and use human languages. In the early 1900s, a Swiss linguistics professor named Ferdinand de Saussure died, and in the process, almost deprived the world of the concept of “Language as a Science,” which eventually led to natural language processing. From 1906 to 1911, Professor Saussure offered three […]
Developing a Digital Transformation Framework
In today’s world, digital transformation is no longer an option. Instead, it is a necessity for businesses to stay competitive. The rapid pace of technological advancements, coupled with changing consumer behavior and expectations, has forced companies to rethink their strategies and embrace digital transformation. In fact, a recent study by McKinsey & Company found that […]
Transforming Data Quality with Machine Learning
Machine learning makes improving Data Quality easier. Data Quality refers to the accuracy of the data: High-quality data is more accurate, while low-quality data is less accurate. Accurate data/information supports good decision-making. Inaccurate data/information results in bad decision-making. So, intelligent decision-making can be supported by supplying accurate information through the use of machine learning. Machine […]
Data Science vs. Machine Learning vs. AI
In the data economy, data is king. Today, any business – small, medium, or large – thrives on its data assets. The recent trend of offering data-driven insights as a service has opened up a profitable revenue channel for businesses. Cloud computing and hosted analytics have brought data-as-a-service to the desktops of ordinary business users, […]
Master Data Management Best Practices
Modern businesses can stay competitive by using the best practices for master data management (MDM). These best practices promote the use of clean, accurate data about suppliers, customers, and products. This, in turn, supports better analytics and business decisions. A master data management solution supports the development of master data, which can provide consistent, accurate data […]
Developing a Data Strategy Template
Organizations want a solid and usable Data Strategy template – a well-thought-out plan for a set of decisions that form a pattern, charting a high-level course of action – but face challenges. For example, only 30% of companies have impactful data strategies that align with some operations, resulting in wasted investments in improving analytics and business insights. Instead, most […]
How to Become a Business Intelligence Analyst
As with many buzzwords emerging from the intersection of business and technology, the phrase “business intelligence” (BI) is often misunderstood. In a nutshell, it refers to the skill and practice of extracting insights from data to realize new goals, strategies, trends, and values. A business intelligence analyst, working with a network of other knowledge workers (such […]
9 Key Data Management Principles and Practices
Business leaders often make corporate decisions in haste, based on data that is neither thoroughly analyzed nor understood. This can pose a serious threat to data-driven decision-making. Additionally, businesses risk losing a competitive edge by not following important business analytics practices. To get the full benefit of data-centric activities, businesses must follow several core Data […]
Are Data Scientists Needed in the Self-Service Analytics World?
As the world becomes increasingly data-driven, businesses are turning to self-service analytics to enable business users to perform their own data analysis tasks. In self-service analytics, business users can access and analyze data without assistance or support from IT personnel or data scientists. Direct access to ML-powered analytics platforms allows them to make better business […]