Analytics

In recent times, my conversations with general managers have inevitably veered to the topic of Artificial Intelligence (AI) and Machine Learning (ML). What puzzled me was the lack of true understanding of these terms and the imprecision with which they were being used.

The GDPR, which comes into force on May 25, 2018, should be a top priority for all your departments if your company has operations in the EU.

Is your pricing strategy accurate? Do your price points delight customers? Or, are you losing out to competition due to flawed pricing? It’s not just you; all businesses face these questions when reviewing their sales and pricing strategies.

Practically every business today owns a website. Whatever industry you work in, and whether you’re selling direct to consumers in B2C or providing a knowledge portal for B2B clients, your website is probably your most important digital channel.

Pricing can determine whether your business succeeds or fails, which is why it’s a strategic priority for every organization. If you want to price your product to maximize sales, market share or profit, you need an effective pricing strategy—and analytics can help.

Every company is undergoing transformation as the digital age sets in. Automation, analytics, business intelligence, digitalization, and big data have become buzzwords for identifying and solving problems, making corporates somewhat less dependent on professional services (PS) firms for their routine analytical requirements.

Cognitive technology is the next big cost saving initiative in the world of procurement. We have taken a look at various cognitive solutions that are being implemented across industries and how they constructively evolve the overall maturity of the procurement organizations. The infographic below details these industries we have covered and their specific applications

Listen to Marc’s appearance on the Business901 podcast.

Big Data is the buzzword of the moment, but is it crucial for all organisations to invest in big data? Does it always make business sense to do so or are there alternatives that have potendial for much greater ROI?

Microsoft’s commitment to Platinum membership in the Linux Foundation is a logical step in their journey into the open source community. But what does it mean for data analytics, particularly given their ownership of leading R distributor Revolution Analytics?

As data flows through the analytics value chain to be distilled into insight or even knowledge, it passes through several stages. Different stages require a different mix of mind+machine. We have codified the analytics value chain into 8 simple steps.

The Internet of Things (IoT) has been in the news over the last few days, because an estimated 100.000 internet connected devices fell victim to a cyber attack. Should we consider the Internet of Things as a blessing or a curse?

Predictive analytics plays a vital role in charting out a winning roadmap for organizations by analyzing future outcomes and helping reduce risks. Read how companies are putting predictive analytics to work in order to gain business benefits

The number of incredible opportunities with great potential for mind+machine is large and growing. Many companies have already successfully begun leveraging this potential, building whole digital business models around smart minds and effective machines. However, despite the potential for remarkable return on investment, there are pitfalls.

The number of incredible opportunities with great potential for mind+machine is large and growing. Many companies have already successfully begun leveraging this potential, building whole digital business models around smart minds and effective machines. However, despite the potential for remarkable return on investment, there are pitfalls.

Investment in technology is not enough for successful digital transformation or how your customers perceive you as a brand. The key is to join the dots (people-process-technology elements) across customer touchpoints and their journey – an aspect that most companies miss out on. It is about connecting every single customer focused effort to a common goal, using key digital tools, to compete and win.

A carpenter is only as good as his tools. Similarly, data is only as good as the analyses built on top of it. The most important question for any organization is ‒ what is the company doing with the data that is available? Is it being analyzed to understand each customer’s journey and build lasting relationships with them, to acquire new customers, and to gain profitability? These goals call for a holistic 360-degree approach aimed at deriving meaningful insights from innumerable internal and external data sources.

Managing customer churn is vital to business performance. As is researched and proven, a 5% improvement in customer retention rates increases profitability by 25 to close to 95%, as it is many times more expensive to acquire new customers than it is to retain an existing one.

When one searches for “analytics” within books on Amazon.com, one gets well over 30,000 results. Clearly, a lot of books have been published on the topics of analytics and big data, particularly over the past decade. In this blog post, our author Mahesh recommends three of them.