Data science news

Global Survey Reveals Big Data Is Producing Big Returns; 73 Percent of Companies Have Leveraged Data to Increase Revenue

Eighty-four per­cent of re­spond­ents be­lieve big data helps them make bet­ter busi­ness de­cisions. And 73 per­cent of com­pan­ies have already used data to in­crease rev­en­ue by grow­ing ex­ist­ing rev­en­ue streams (57 per­cent) or cre­at­ing en­tirely new sources of rev­en­ue (43 per­cent).

Big Data Analytics: Unlocking The Hidden Value In Corporate Data

Achieving faster data ana­lys­is makes for a more re­spons­ive, pro­duct­ive busi­ness. Firms can ana­lyse data and fur­ther im­prove decision-making cycles. The abil­ity to query cor­por­ate data in real-time en­ables lines of busi­ness to gain vi­tal new in­sights in­to cus­tom­ers’ be­ha­vi­our every day.

Asia Looking to Leapfrog in Big Data

Big data is be­ing de­ployed in three key sec­tors— tel­cos be­cause they have such large volumes of data; banks, which are less fo­cused on un­struc­tured data but want real-time high ve­lo­city ana­lyt­ics for fraud and risk man­age­ment; and gov­ern­ment agen­cies, primar­ily in in­tel­li­gence, im­mig­ra­tion and cus­toms tax.

Pharmaceutical firms are also ex­pand­ing their in­terest and some re­tail or­gan­iz­a­tions are ex­plor­ing big data, ad­ded Phil Carter at IDC in Singapore.

Banks har­ness­ing big data to ana­lyse cus­tom­ers’ shop­ping habits

Banks are teaming-up with re­tail­ers to tar­get cus­tom­ers by ana­lys­ing the cus­tom­er data they col­lect more closely, ac­cord­ing to Andrew Jennings, chief ana­lyt­ics of­ficer at fraud­u­lent data spe­cial­ist FICO.

New soft­ware in place to keep tab on crim­in­als

Data ana­lys­is tools used by banks to de­term­ine if you are likely to de­fault on loan repayment,could soon help nab crim­in­als. The National Crime Records Bureau de­cided to de­ploy data ana­lyt­ics to not only track crim­in­als but also to pre­dict in­cid­ence of crime in a re­gion on the basis of past in­cid­ents.

Capgemini Report Shows Big Data’s Rising Impact on Decision-Making in North America and Globally

The Economist Intelligence Unit re­port “The Deciding Factor: Big Data & Decision mak­ing,” com­mis­sioned by Capgemini, re­veals that nine out of ten busi­ness lead­ers be­lieve data is now the fourth factor of pro­duc­tion, as fun­da­ment­al to busi­ness as land, labor, and cap­it­al.

The study, which sur­veyed more than 600 C-level ex­ec­ut­ives and seni­or man­age­ment and IT lead­ers world­wide, in­dic­ates that the use of Big Data has im­proved busi­nesses’ per­form­ance, on av­er­age, by 26 per­cent and that the im­pact will grow to 41 per­cent over the next three years. The ma­jor­ity of com­pan­ies (58 per­cent) claim they will make a big­ger in­vest­ment in Big Data over the next three years.

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