Data science news

Big data ana­lyt­ics and Internet of Things voted most dis­rupt­ive fu­ture tech. 

Big data ana­lyt­ics, Internet of Things and dy­nam­ic visu­al­isa­tion have topped a sur­vey of tech­no­lo­gies to have the most dis­rupt­ive im­pact on or­gan­iz­a­tions in three years’ time.
Conducted by Nimbus Ninety, the sur­vey of 195 seni­or de­cision makers and pro­ject lead­ers in UK or­gan­isa­tions found that 50% of re­spond­ents ex­pect big data ana­lyt­ics to be lead­ing the way, fol­lowed by Internet of Things (37%) and dy­nam­ic visu­al­isa­tion (35%).

Data visu­al­iz­a­tion: Key to com­pre­hen­sion. 

While Big Data is the by-word in re­cent years, it is use­less without ana­lys­is, un­der­stand­ing and com­pre­hen­sion. In his TED talk, data journ­al­ist David McCandeless pro­poses a solu­tion to un­der­stand over­whelm­ing data and that is through data visu­al­iz­a­tion.

“Visualizing in­form­a­tion so that we can see the pat­terns and con­nec­tions that mat­ter and then design­ing that in­form­a­tion so it makes more sense, or it tells a story, or al­lows us to fo­cus only on the in­form­a­tion that’s im­port­ant,” says McCandeless.

The au­thor of Information is Beautiful, McCandeless says that when we trans­form data in­to graphs, pies, charts, in­fograph­ics, we turn it in­to a land­scape that we can ex­plore with our eyes, a sort of in­form­a­tion map which can help us find our way when we are lost in in­form­a­tion. “Today, reg­u­lat­ors ex­pect or­gan­isa­tions to have hol­ist­ic en­ter­prise fraud and mis­use man­age­ment pro­grammes span­ning all busi­ness units and in­ter­na­tion­al bor­ders,” Tony DeSantis, a prin­cip­al in the Deloitte Transactions and Business Analytics LLP data ana­lyt­ics prac­tice, said in a news re­lease. “However, many or­gan­isa­tions are un­sure where to be­gin and how to ef­fect­ively ap­ply ana­lyt­ics.”

“I would say that data is the new soil. Because for me, it feels like a fer­tile, cre­at­ive me­di­um. Over the years, on­line, we’ve laid down a huge amount of in­form­a­tion and data, and we ir­rig­ate it with net­works and con­nectiv­ity,” says McCandeless. “If you look at it dir­ectly, it’s just a lot of num­bers and dis­con­nec­ted facts. But if you start work­ing with it and play­ing with it in a cer­tain way, in­ter­est­ing things can ap­pear and dif­fer­ent pat­terns can be re­vealed.” These days, pro­du­cing a nice in­fograph­ic to ac­com­pany your data present­a­tion is no longer the mono­poly of graph­ic de­sign­ers or design agency.

Analytics Managers – Today, Real-time Marketing Analytics Rules.

Marketing Analytics Managers are now able to track mar­ket trends and in­sights of the last minute by util­iz­ing real-time ana­lyt­ics tech­niques.

With this tre­mend­ous growth in on­line shop­ping across the world, re­tail­ers need Big Data ana­lyt­ics to stay com­pet­it­ive. With the help of data ana­lyt­ics, com­pan­ies are able to gain de­script­ive and pre­script­ive in­sights. This means that re­tail­ers can now not only find out what happened in a par­tic­u­lar sales peri­od, but also what they can do in the fu­ture to in­crease sales.

Big com­pan­ies are the first ones to put the real-time ana­lyt­ics in­to prac­tice. Paid more than $200 mil­lion for Topsy, Apple’s ac­quis­i­tion of this real-time so­cial me­dia ana­lyt­ics start-up is con­sidered as a long-term stra­tegic in­vest­ment. In Adam Satariano’s art­icle “Apple Buys Real-Time Access to Twitter’s Feed With Topsy Deal”, Debra Aho Williamson, an ana­lyst with EMarketer Inc., be­lieved that Apple will use the real-time so­cial me­dia ana­lyt­ics for ana­lyt­ics of the iAd mobile-advertising ser­vice, to make pur­chase re­com­mend­a­tions from iTun­es and App Store, or oth­er mar­ket­ing acts. Instead of get­ting mar­ket re­ports from the ana­lyt­ics group once a week, real-time ana­lyt­ics will eas­ily provide more ac­cur­ate in­sights for ana­lyt­ics man­agers to tail­or mes­sages to tar­get audi­ence.

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