Data science news

BIG DATA – UNLIMITED OPPORTUNITIES

With big data be­ing the biggest buzz word in busi­ness, it was only fit­ting that the in­aug­ur­al day of the NASSCOM Product Conclave had a ses­sion de­voted to ex­plore the nu­mer­ous op­por­tun­it­ies in the area.

The mantle was then taken over by Anand S, Chief Data Scientist from Gramener, who talked about the ap­plic­a­tion of big data visu­al­iz­a­tion and how his firm was mon­et­iz­ing the same. He cited ex­amples of mak­ing busi­ness sense out of edu­ca­tion­al data like sub­ject marks in schools in Tamilnadu, birth­days in the US and India, crick­et stat­ist­ics, res­taur­ant sales and even ana­lys­is of wealth man­age­ment and con­sol­id­a­tion of cur­ren­cies. There was also a rather in­ter­est­ing brief on how they tracked the car­go delays in the air­lines sec­tor with big data. The hu­mor­ous touch made him a fa­vour­ite among the audi­ence and made sure that the ses­sion was not lag­ging at the fag end of the day. Further, he ex­plored four emer­ging busi­ness mod­els in the big data seg­ment – value-added data, ex­plor­at­ory stor­ies, tem­plat­ized ana­lyses and for add-ons (where crunch­ing data is mainly for an ad­di­tion­al busi­ness reas­on rather than the main one).

Visual ana­lyt­ics app gives po­lice a nearly om­ni­scient view

Purdue University re­search­ers have de­veloped a visu­al ana­lyt­ics tool that can give po­lice and emer­gency re­spon­ders a real-time view of a loc­a­tion, layered with crime, traf­fic, geo­spa­tial, weather and oth­er data. The goal, re­search­ers say, is to give law en­force­ment agen­cies pre­dict­ive, and well as re­spons­ive, cap­ab­il­it­ies.

Called the Visual Analytics Law Enforcement Toolkit, or VALET, the tool al­lows of­ficers to ana­lyze high-volume crim­in­al data with the sur­round­ing con­text, such as traf­fic con­di­tions, civil in­cid­ent data and any re­lated emer­gency man­age­ment events, the pro­ject lead­ers said in an an­nounce­ment. It also can lay­er in weather in­form­a­tion, zon­ing tracks, census and demo­graph­ic data – and even the moon phase.

The tool has a vari­ety of po­ten­tial uses. It could be used at headquar­ters to plan reg­u­lar routes based on crime rates and the times of the day or week crimes are most likely to oc­cur, even factor­ing in weather fore­casts or sched­uled ma­jor events that could gum up roads. The re­search­ers say VALET’s stat­ist­ic­al ana­lys­is of his­tor­ic­al data and tem­por­al pre­dic­tion al­gorithms can fore­cast fu­ture crim­in­al, traf­fic and civil in­cid­ent levels with 95 per­cent con­fid­ence. It also would be ef­fect­ive in man­aging the re­spon­se to a ma­jor in­cid­ent, where out­side factors could af­fect the re­spon­se.

Data Visualizations, the Future of Business Success

In today’s world, con­sumer at­ten­tion is con­stantly be­ing fought for. It has been shown that visu­al rep­res­ent­a­tions of data aid in cap­tur­ing at­ten­tion and keep­ing it for a longer peri­od time. In or­der to be suc­cess­ful, it is im­port­ant for busi­nesses to be iden­ti­fi­able and eas­ily sep­ar­ated and dif­fer­en­ti­ated from oth­er busi­nesses. A great way to for busi­nesses to set them­selves apart is to use unique and in­nov­at­ive data visu­al­iz­a­tions. These types of visu­al­iz­a­tions help com­mu­nic­ate dif­fer­ent types of in­form­a­tion ef­fect­ively and plainly through en­ga­ging graph­ics.

Big Data Analytics: The Key to Data Driven Marketing

Every day, en­ter­prises are amass­ing moun­tains of data. In fact, ac­cord­ing to IBM, com­pan­ies have cap­tured more data dur­ing the last two years than in the last 2000 years.It’s what you do with what you have that mat­ters.” Thanks to big data ana­lyt­ics, com­pan­ies can now tap in­to these vast data re­sources to max­im­ize mar­ket­ing im­pact and gain a clear com­pet­it­ive ad­vant­age.

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