Data science news

Big Data Analytics and the India Equation

Recent Accenture re­search shows ana­lyt­ics and data sci­ence have se­cured a spot on the boardroom’s agenda. That is be­cause or­gan­iz­a­tions are re­cog­niz­ing there are golden nug­gets of ac­tion­able in­sights hid­den in­side the vast mounds of data – in­sights that will help them turn busi­ness is­sues in­to out­comes and ad­vance on what Accenture calls the “Analytics Journey to ROI”. Analytics now plays an ever in­creas­ing role in vari­ous con­texts such as broad as un­der­stand­ing what con­sumers are say­ing about you what may be a new pro­duct op­por­tun­ity or busi­ness op­por­tun­ity from mon­it­or­ing so­cial net­works, to per­son­al­iz­ing of­fers to cus­tom­ers in real time, mak­ing op­tim­al pri­cing re­com­mend­a­tions, pre­vent­ing net­work fail­ures, mit­ig­at­ing dis­ease out-breaks, in­tel­li­gent city plan­ning and man­age­ment. Big Data ana­lyt­ics fo­cuses on let­ting data be in­dus­tri­al­ized in such a way that not only drives mean­ing­ful in­sights in a rap­id fash­ion and also drives in­nov­a­tion for busi­nesses and gov­ern­ment.

Though the po­ten­tial of ana­lyt­ics and Big Data is clear, one of the chal­lenges no­ticed is a sig­ni­fic­ant short­age of data sci­ent­ists with deep ana­lyt­ic­al train­ing in data dis­cov­ery, pre­dict­ive mod­el­ing, open source stat­ist­ic­al solu­tions, visu­al­iz­a­tion skills and busi­ness acu­men to be able to frame and in­ter­pret ana­lyses. Here, India is in an ad­vant­age­ous po­s­i­tion. Over the last three dec­ades, India has in­ves­ted sig­ni­fic­antly in in­sti­tutes and uni­ver­sit­ies of na­tion­al im­port­ance for higher edu­ca­tion. All of these in­sti­tutes have helped ad­vance India’s tal­ent lead­er­ship in the field of sci­ence, math, tech­no­logy, op­er­a­tion re­search, man­age­ment and fun­da­ment­al re­search. India today has one of the largest pools of ana­lyt­ics and data sci­ence tal­ent in the world and has been play­ing a key role in sup­port­ing the ana­lyt­ic­al needs of the de­veloped mar­kets. But make no mis­take: With the rising ad­op­tion of ana­lyt­ics in busi­ness, even in India the most qual­i­fied ana­lyt­ics pro­fes­sion­als, data sci­ent­ists, are be­com­ing a scarce re­source.

Big data ana­lyt­ics ad­op­tion on the rise

Adoption of Big Data Analytics by Australian busi­nesses and or­gan­isa­tions is pick­ing up mo­mentum, with over 80% re­cently sur­veyed hav­ing already de­ployed or hav­ing plans to launch Big Data Analytics in the next 12 months.

A newly pub­lished sur­vey of over 300 Australian or­gan­isa­tions from all in­dustry sec­tors by IDC, also found that about a third of them cited Big Data Analytics as “es­sen­tial or crit­ic­al” to their or­gan­isa­tions.

According to IDC, the 80% rate of ad­op­tion or planned ad­op­tion, il­lus­trates that Australian or­gan­isa­tions are at dif­fer­ent levels of ma­tur­ity when it comes to Big Data pro­jects, from ad-hoc and ex­per­i­ment­al dis­cov­ery, to ad­vanced ana­lyt­ic­al cap­ab­il­ity to drive de­cision mak­ing.

Big Data Analysis Drives Revolution In Travel

Airlines, ho­tels and re­ser­va­tion sites are mak­ing the most of data to im­prove book­ing ra­tios, boost rev­en­ue yield and im­prove cus­tom­er sat­is­fac­tion.

“We’re see­ing tan­gible, prag­mat­ic busi­ness be­ne­fits us­ing big data, wheth­er it’s to in­crease the look-to-book ra­tio, de­crease the cost of op­er­a­tions, boost rev­en­ue yields or in­crease cus­tom­er sat­is­fac­tion,” says Herve Couturier, ex­ec­ut­ive VP at re­ser­va­tion ser­vices gi­ant Amadeus.

British Airways is do­ing more to re­mem­ber per­son­al pref­er­ences with its Know Me pro­gram, which goes bey­ond the loy­alty pro­grams based strictly on mileage re­wards

Research in big data ana­lyt­ics work­ing to save lives of pre­ma­ture ba­bies

It’s hard to ima­gine that some­thing so small could cre­ate enough data to be used in re­search for big data ana­lyt­ics, but re­search­ers at Toronto’s Hospital for Sick Children are us­ing pre­ma­ture ba­bies to do just that.

‘Big data ana­lyt­ics’ is the study of a large amount of data sets, broken down by com­puter sys­tems that can de­tect trends. Researchers are col­lect­ing high-frequency physiolo­gic­al data, in­clud­ing heart rate and res­pir­a­tion rate, to cre­ate al­gorithms that can pre­dict when a baby is at risk of in­fec­tion and oth­er health com­plic­a­tions.

Premature ba­bies, or preem­ies, demon­strate tell-tale signs of in­fec­tion in changes in their heart rate up to 24 hours be­fore an in­fec­tion takes hold.

Once put in place, these al­gorithms can help doc­tors walk the thin line between life and death that preem­ies face.

Big Data Goes Green: How Data Analytics Is Saving the World’s Forests

Big Data’s go­ing main­stream and at the same time it’s re­writ­ing the rules of forestry man­age­ment. Tree farm­ers, log­ging com­pan­ies, plant­a­tions and con­ser­va­tion groups tasked with man­aging forestry as­sets can use Big Data ana­lyt­ics to dig up all kinds of in­sights that can help them achieve their goals of sus­tain­ab­il­ity.

Predictive mod­el­ing is noth­ing new to the forestry in­dustry. For years, its been used to fore­cast the im­pact of con­trolled burns, har­vests and oth­er forest man­age­ment strategies. But un­til re­cently it’s been a slow and cum­ber­some pro­cess, in­volving thou­sands of man hours spent pour­ing over custom-made spread­sheets, with a whole lot of guess­work thrown in.

Forestry man­age­ment presents an op­por­tun­ity that’s cap­tur­ing the at­ten­tion of nu­mer­ous Big Data com­pan­ies, in­clud­ing gi­ants like Google, or­gan­iz­a­tions like NASA, and even a few plucky star­tups as well.

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