Data science news

Looking at the Big Picture: How Big Data Gets Personal 

Industries from technology to advertising, healthcare to government are abuzz about the ability to draw new insights from their data. As computer processing power has increased and the price of data storage has fallen, huge pools of data can now be captured, analyzed and paired with other sets of data from still more sources.

In the healthcare industry, vast pools of data can be used to develop new drugs, diagnostics or protocols. It can also offer researchers and clinicians the ability to tailor existing treatments to individuals based on the genetic components of their condition.

“We try and leverage very, very large-scale data of very, very deep complexity to probe questions about how biology works and that can be used to help patients,” said Andrew Kasarskis, co-director of Mount Sinai’sInstitute for Genomics and Multi  scale Biology.

Big Data Holds Big Promise for Government 

Scientists in Singapore, are developing software to turn cities into “real-time control systems” that combines all sorts of data feeds like information about rainfall and the   location of taxis so the government can match the demand and the supply of taxis in specific weather conditions, particularly when it rains – a common occurrence in Singapore.

Furthermore, the Centre for Advanced Spatial Analysis (CASA) at University College London is combining data from London’s Oyster cards, used to pay for public transport and Twitter messages. Tube-travel patterns are regular: people who enter the system at one station tend to leave it at a particular other one.Twitter messages reveal a city’s structure and its activity.

Immersive Visualization: The Future of Data Presentation

The goal of data visualization is more than simply conveying information. Spreadsheets and Word documents can perform that same function in tightly organized columns. But visualization allows us to draw lines between data points like a constellation and present the viewer with a fully-formed concept in a way that rows and columns cannot. If we take it a step further, we can even use visualization to create a fully interactive experience.

Call to action: how to make the most of big travel data 

Travel companies can use data analytics to create competitive advantage.

Travel companies are taking a closer look at formal data management strategies in order to derive more value from data assets. Data analytics is an interesting  prospect for the travel sector as so many data streams can be combined.

Predictive sports analytics put in play for Wimbledon, Formula One 

Here’s a safe sporting bet: take any roomful of fans of, say, cricket or baseball, and you can guarantee that there will be at least one person there with an encyclopedic knowledge of the sport’s history, including players’ highest scores, batting averages and strike rates. There’s something about sport that attracts the anoraks. But here’s another sure-fire bet: knowing about past performance is about to become old hat. The smart money now is on using data to predict future sporting outcomes. Sports analytics promises to be the bookmaker’s worst nightmare.

Advanced data visualization - a critical BI component 

As you venture down the ADV road, Forrester recommends paying at least equal (if  not more) attention to ADV best practices as you do to technology. Forrester has identified multiple such practices including screen layouts, data-to-ink ratios,  appropriate use of text and labels, using similar sequencing of objects, using parallel scales, minimizing the use of color, showing causality, and many more.

Read more about ADV research and remember: a picture speaks a thousand words!

Big Data Is The Future Of Marketing

Welcome to the era of performance brand marketing where measurement of social engagement using big data will transform the way brand marketers view the internet.

Big data analytics finally allows marketers to identify, measure, and manage what is positively impacting their brand. Social media activity harvested from the entire open social web with technologies like Hadoop, Cassandra, Mahout and Pig combined with advanced analytic techniques like natural language processing, semantic analysis, machine learning, and cluster analysis can reveal the true consequences of marketing actions online.

These developments enable a whole new world of brand measurement for digital marketers. Unlike most approaches to web analytics that can only attribute directly measurable consumer action, big data analysis of social performance offers campaign data that correlates with impact on brand. For example, in Super Bowl XLVI anlysts used big data to analyze the actual engagement of all the Super Bowl ads during the game. The traditional measure provided by USA Today AdMeter suggested that Coca-Cola had done rather poorly, yet when examined the actual levels of consumer response and engagement Coca-Cola’s was top of the charts.

Tomorrow’s business leader

Gramener was chosen as the winner in the Lufthansa pioneering spirit episode # 3 for being the ‘best pioneer of tomorrow’ in the industry, winning with a score of 85/100.

(Click to watch the episode)

Pioneering Spirit, a product of Lufthansa is a unique television series that showcases the inventions of business pioneers and gives entrepreneurs a once-in-a-lifetime opportunity to be selected as ‘pioneers of tomorrow’ .

Three entrepreneurs with the most compelling ideas get a chance in each episode to present their business plan face to face with a doyen of their industry to win the title.

Gramener’s vision was presented by COO -Naveen Gattu and was selected as the best among the other competitors from the Industry after a rigorous assessment by Mr.William Bissell (Managing Director FabIndia) who was the judge for the episode.

You may watch the repeat telecast of Gramener winning on ET Now on these dates:

6:30pm on 25th July, Wednesday
6:30 pm on 28th July, Saturday
6:30 pm on 29th July, Sunday

Data science news

Data Visualization Software Can Grow Any Business

The key to any businesses success is the ability to identify and act on fresh leads consistently over time. Using data visualization software can help solve the age old question of how to keep the flow of customers constant and growing. The solution is often found within the data the business already generates.

The problem facing small entrepreneurs and big businesses alike is taking the data generated from all its various sources (employees, vendors and customers) and harnessing it into a sales tool. Once a business has a better understanding of its current customer base and administrative structures, identifying new opportunities and trimming waste is an easy process.

Predictive data analytics is saving lives and taxpayer dollars in New York City

According to Flowers (director of analytics for the Office of Mayor of New York City), applying predictive data analytics towards “preemptive government” in New York City has resulted in:

• A five-fold return on the time of building inspectors looking for illegal apartments

• An increase in the rate of detection for dangerous buildings that are highly likely to result in firefighter injury or death

• More than doubling the hit rate for discovering stores selling bootlegged cigarettes

• A five-fold increase in the detection of business licenses being flipped

• Fighting the prescription drug epidemic through detection of the 21 pharmacies (out of an  estimated total of 2,150 in NYC) that accounted for more than 60% of total Medicaid  reimbursements for Oxycodone in the city.

Putting predictive analytics to work

Perez’s(Anthony Perez, director of business strategy for the National Basketball Association franchise.) team began by using analytic models to predict which games would oversell and which would undersell. The box office then took that information and adjusted prices to maximize attendance — and profits. “This season we had the largest ticket revenue in the history of our franchise, and we played only 34 games of the 45-game  season due to the lockout,” he says.

P&G uses predictive analytics for everything from projecting the growth of markets and market shares to predicting when manufacturing equipment will fail, and it uses visualization to help executives see which events are normal business variations and which require intervention. “We focus the business on what really matters,” Says Guy Peri, director of business intelligence for P&G’s Global Business Services.

The Big Data Revolution unfolds now… 

Big Data has suddenly caught everyone’s attention which in turn has made it one of the hottest debated topics nowadays in the enterprise computing circle. The need to unshackle this huge treasure trove is now beginning to dawn upon every CIO and they are realizing the significance of how it can bring in business efficiency and value.

The Data conundrum is giving rise to Analytics

How To Create Business Value with Analytics

MIT Sloan Management Review indicates that 58% of the 4,500 respondents (business executives, managers and analysts) say that their companies gain competitive value as a result of data analytics. The more competitive organizations are experienced in analytics and go far beyond its traditional baseline use. Their leaders use analytics to guide strategic and tactical decision making.

They are adept at deploying analytics tools (software for data visualization, modeling, mining, and analysis) that promote the use of data. The article suggests that organizations supporting and practicing analytics of all this data are more competitive than companies that don’t use data analytics in their day-to-day operations.

Big Data interest growing among SMEs

A new poll done on behalf of SAP finds that small and midsize enterprises (SMEs) are realizing the competitive advantages of using and managing “big data” faster than their larger competitors.

Top competitive advantages gained by using big data include more efficient business operations (59%); boosting sales (54%); lowering IT costs (50%); becoming more agile (48%); and attracting and retaining customers (46%). In large part because of these advantages, 70% of those surveyed said they would expect a return on their big data investments within one year.