Data science news

Visualization provides decision-makers with the big pic­ture

“Good visu­al­iz­a­tions can help people to make good de­cisions, such as se­lect­ing a suit­able can­did­ate in elec­tions,” re­search­er Mikko Berg ex­plains.

Berg’s dis­ser­ta­tion be­longs to the field of me­dia tech­no­logy and com­bines cog­nit­ive sci­ence, psy­cho­logy and vis­ion re­search. The dis­ser­ta­tion ex­plores how the brain pro­cesses visu­al­iz­a­tion when the per­son handles com­plex data.

Berg ex­amined how the use of visu­al­iz­a­tion fa­cil­it­ates un­der­stand­ing by ob­serving how people used the on­line can­did­ate se­lect­ors cre­ated for the EU and com­mun­al elec­tions held in Finland in 2004.

Predictive Analytics: The Race is On

High-performance ana­lyt­ics (HPA) al­lows model­ers to work faster with full sets of data — not sample sets. This can provide the type of nu­anced ana­lyt­ics that al­lows an in­surer to be more suc­cess­ful in high-risk situ­ations, cre­ate in­nov­at­ive — and prof­it­able — new means of in­sur­ing cus­tom­ers, and re­spond to large-scale dis­asters in a more rel­ev­ant and cost-effective way.

Intelligent use of Big Data

Business Intelligence could un­lock of some of the es­tim­ated 85% of cor­por­a­tion data that is un­struc­tured ac­cord­ing to lead­ing in­dustry fig­ure Bill Inmon.

Big Data Bubbles Up Trouble!

Today Big Data has made the im­possible, pos­sible. Collecting and ana­lyz­ing un­struc­tured data types such as so­cial me­dia data, web click streams, net­work and data center logs is no longer a daunt­ing task. While Hadoop and MapReduce are the tech­no­lo­gies be­hind the scenes to crunch massive volumes of data, ad­vanced visu­al­iz­a­tions have be­come the art that show us the be­st (and wor­st) parts about our data.

British Columbia health care on the cut­ting edge of Big Data

Big Data can re­veal the over­looked neg­at­ive ef­fects of a drug or, con­versely, un­ex­pec­ted be­ne­fits and new treat­ments. It can lead us to in­sights in­to how a drug has worked over a vast pop­u­la­tion, en­abling re­search­ers to de­term­ine which doses are most ef­fect­ive, which are wrong-headed or per­haps dan­ger­ous. Tracking Big Data can help you find out if a med­ic­al pro­ced­ure really gets the res­ults we think and de­sire. Or it might re­veal dia­gnostic and treat­ment mis­takes we are mak­ing and sug­gest over­looked ways of im­prov­ing health care. Plug in ge­net­ics, a factor that of­ten in­flu­ences how medi­cines and treat­ments work on an in­di­vidu­al basis, and you are look­ing at the pos­sib­il­ity of be­spoke, ge­n­om­ic medi­cine – health care tailored to an in­di­vidu­al, in much the same way as a tail­or cus­tom­izes a suit or dress.

Big Data can and will save lives. And it will al­most cer­tainly save money.

Big Data for Retail is Flying Off the Shelves

The holy grail of re­tail has been to an­ti­cip­ate what con­sumers need even be­fore they real­ize they need it. There’s no bet­ter way to beat the com­pet­i­tion than to make an at­tract­ive of­fer and get a customer’s busi­ness be­fore they even real­ize they need your pro­duct, or con­sider eval­u­at­ing al­tern­at­ives.

Big Data Analytics Gold for the Call Center

Corporate call cen­ters and call center pro­viders are em­bra­cing new ana­lyt­ic tools to dig deep­er in­to the big data they gen­er­ate.

Data science news

Big Data Is An Issue Of Corporate Survival

“It is im­per­at­ive from the busi­ness stand­point that you need to get ahead of this new wave of in­ter­act­ing with cus­tom­ers. You need to know who that cus­tom­er is, what they rep­res­ent to the busi­ness now, what they should rep­res­ent to the busi­ness and how to move them along the tra­ject­ory to be that great cus­tom­er they should be.”

Annika Jiminez, seni­or dir­ect­or for ana­lyt­ics solu­tions at Greenplum, said big data is hap­pen­ing in nearly every sec­tor of busi­ness and gov­ern­ment, from health care where it is used in med­ic­al re­cords and treat­ment path­ways to car man­u­fac­tur­ers us­ing it to cap­ture data on how vehicles are used and trans­mit­ting it to a data center.

‘Big Data’ Could Remake Science — And Government

The re­search firm Gartner pre­dicted in December 2011 that 85 per­cent of Fortune 500 firms will be un­pre­pared to lever­age big data for a com­pet­it­ive ad­vant­age by 2015.
Big-data ana­lyt­ics also has the po­ten­tial to im­prove gov­ern­ment ef­fi­ciency, pan­el­ists at the TechAmerica event said.

The Centers for Medicare and Medicaid Services, for ex­ample, could pull data from in­sur­ance re­ports and hos­pit­al forms and an­onym­ized data from elec­tron­ic med­ic­al re­cords to get a much bet­ter un­der­stand­ing of which med­ic­a­tions and pro­ced­ures are most ef­fect­ive, said Caron Kogan, a stra­tegic plan­ning dir­ect­or at Lockheed Martin Corp.

Visualization Broadens Business Intelligence’s Appeal

Some 400 IT and busi­ness unit man­agers re­spond­ing to a sur­vey found ad­vanced ana­lyt­ics, which Dresner Advisory Services founder Howard Dresner defines as “ex­tens­ive use of col­or, size, shape, 3D, tex­ture, mo­tion, etc. to con­vey mean­ing,” more com­pel­ling than Big Data, the cloud, so­cial me­dia ana­lyt­ics and oth­er trendy busi­ness in­tel­li­gence tech­no­lo­gies.

On a rising scale of im­port­ance, from one to five, re­spond­ents gave ad­vanced visu­al­iz­a­tion a 3.8. Dashboards, re­spond­ents’ top pri­or­ity, rated only slightly higher at 4.15

Predictive Analytics Goes Deep, Catches Pass From Tech Giant IBM

Beyond the sim­ple data ana­lys­is of stand­ard busi­ness in­tel­li­gence (BI) soft­ware, pre­dict­ive ana­lyt­ics solu­tions give mid­size IT the abil­ity to not just crunch num­bers but get a glimpse of what the fu­ture may hold – this is an in­valu­able as­set in the quickly chan­ging tech mar­ket. Adoption of pre­dict­ive soft­ware ser­vices has been slow in the world of IT, but it is now get­ting no­ticed both at the en­ter­prise in­vestor level and on the grid­iron.

Where Big Data Shows Huge ROI

Big data pro­jects can far sur­pass the hy­pe by nur­tur­ing con­text and con­nec­tions, ac­cord­ing to an ana­lys­is of nu­mer­ous case stud­ies by Nucleus Research.
Examples of those re­turns in­cluded: a 942 per­cent ROI for a man­u­fac­turer that was able to scour large, dis­par­ate data sets from vendors for pur­chas­ing and cost in­form­a­tion; 1,822 per­cent ROI from re­duced labor costs by a re­sort that in­teg­rated shift schedul­ing pro­cesses with data from the National Weather Service; and an 863 per­cent ROI by a met­ro­pol­it­an po­lice for­ce that was able to com­bine vari­ous crime data­bases along­side pre­dict­ive ana­lyt­ics and its de­part­ment as­sets.

How visu­al­isa­tion un­cov­ers the big pic­ture of ‘Big Data’

According to Gartner, Big Data is “…the volume, vari­ety and ve­lo­city of struc­tured and un­struc­tured data pour­ing through net­works in­to pro­cessors and stor­age devices, along with the con­ver­sion of such data in­to busi­ness ad­vice for en­ter­prises.” A re­cent re­port from the Center for Economics and Business Research (CEBR) 1, sug­gests that im­proved use of this Big Data could add £216 bil­lion to the UK eco­nomy and cre­ate 58,000 jobs. Data visu­al­isa­tion can be a key tool in help­ing users ex­plore and com­mu­nic­ate data through graph­ic rep­res­ent­a­tions – en­abling col­lab­or­at­ing, in­fer­ring con­nec­tions and draw­ing con­clu­sions that be­ne­fit busi­ness’ bot­tom line.