Optimization has played an important role in corporate world enabling executives and managers in making best decisions. Using optimization technology and techniques has made day to day business issues easier. Optimization came into play since 20th century with the help of digital computers. Linear programming was the first optimization method used. It enabled analysts to achieve best possible outcome in a given situation. Computing capabilities became affordable enabling companies to use more complex algorithms to handle more ever difficult optimization problem. Optimization analytics is popular among businesses giving them potential to improve performance and create competitive advantage.  Read more at:http://www.smartdatacollective.com/robert-kugel/336864/optimization-analytics-comes-mass-market

Need for Chief Data Officer (CDO) in boardrooms has increased now days. Importance of CDO is same as that of big data in companies, as a person in charge of data team. There has been increase in number of companies who are employing CDOs. At present 43% of executives reported that their firm had appointed CDO, while two years back it was only about 19%. During financial crises in 2008 many companies lost their significant amount of money after their data had been shown completely wrong. That gives rise to Chief Data Officer, a person that can be held responsible for validity of data. He can protect businesses from loss due to crises and also to help appease law makers who were going to require change within reporting and storage of data.  Read more at:

https://channels.theinnovationenterprise.com/articles/the-evolution-in-the-cdo-role

Technology has significantly changed the environment of courtrooms over the last few years. Health technology has been one of the most used technologies in the courtroom. Lawyers are enjoying benefits of such technology to have winning edge. It is easier to present the evidences and to conclude the case. Health technology in courtrooms includes blood and personal health monitoring technology, video display, annotation monitors and evidence camera. Use of video conferencing has also became popular now a days. The most important advantage of this health technology is that is instantaneous with the results being relayed at the same time. Read more at:https://channels.theinnovationenterprise.com/articles/h-ealth-tech-in-the-courtroom

Big data and internet of thing (IOT) have made it easier for companies to collect new data. This will help companies to have comprehensive view of consumer’s buying and viewing behavior which in turn is used to make competitive business intelligence. Today businesses are struggling to face high bills of Internet Service Providers (ISP) as they already have too much data to cope with. With huge investment, industries have spent time in finding solutions for crunching large data within limited time. There is huge cost involved in storing big data. But Software Defined Storage (SDS) gave storage the operational efficiency as other big data aspects. This provides flexible and scalable architecture to empower the business to meet big data fluctuation demand.  Read more at:https://channels.theinnovationenterprise.com/articles/big-data-and-the-communications-data-bill

Big data and financial services have played their role together to boost the company's profits. Big data is providing advantages to financial services in three ways. Firstly, big data is keeping financial companies ahead to develop more creative and innovative ways of using big data to predict future, which companies are going to earn profits and which type products will be demanded in future. Nowadays, financial companies can easily monitor and respond to changes that exist in financial markets. Secondly, banks are also using big data to become more customer focused. This can be done by tapping the reams of unstructured data like lifestyle information, social media activity, and customer feedback and support requests. Thirdly, big data can be used in fraud detection. Read more at:http://www.smartdatacollective.com/bernardmarr/335942/3-ways-big-data-changing-financial-institutions-forever

It is not easy to understand what a dataset represents and how to use that information. One can understand the data by interacting people who know about data and through other alternative means. Usually the problem of finding and understanding the data exists in many companies which leverages data to enhance their decision making and their products. Many technologies relating to data made it easier to process massive amount of data and visualizing results in a better way. But the absence of focus on empowering users to find and understand data has made it difficult for reliability and efficiency. It has been more concrete to measure and show progress of efficiency and visualization capabilities of the process. Read more at:http://www.smartdatacollective.com/venky-ganti/332052/data-time-investment-finding-and-understanding-data

Today data and analytics wave has replaced the HR and people management. Human resources are one of the most data rich functions in most business. Earlier the data were mostly ignored or just kept in tables and charts but now data analysis has used such data and helped predicting when will employees leave, from where they can grab most suitable candidates and how to identify and retain most talented employees. HR departments are now crunching their data and easily taking decisions for recruitment. Earlier it was not so easy for HR's to look around the globe for hiring but now they can do just by sitting in a room, analyzing data without looking at the globe. Read more at:http://www.smartdatacollective.com/bernardmarr/334941/how-hr-can-use-big-data-smart-way-hint-most-are-not

Data quality has not been so good so far. Huge amount of data can be found that is incorrect or duplicated. It is very difficult to setup an improvement program. One should know what kind of errors are there to allocate the correct resource. To solve data quality problems complex and strategic approach is required which is not same for all problems. Most of the company's decisions are taken after analyzing the data of the company, but if data quality is poor then the result of the decisions can led the company to suffer huge losses. Detecting the data quality is very important because it is positively correlated with business efficiency. Read more at:http://www.smartdatacollective.com/martindoyle/335289/defining-your-data-quality-problems

CMO, the Chief Marketing Officer, has played an important role in the company's boardrooms. They always provided the right direction and techniques to sell products and services. In past 10 years, there has been renovation of techniques. TV and print advertising pales has been replaced by digital advertising and social media. Today use of technology and data by marketers is not limited as previously it was. The increased dependence on technology and data has led to foundation of Chief Marketing Technologist (CMT). They are the strategist, creative director and technology evangelist. Some economists believe that due to data centralization replacing CMO with CMT is not feasible. Both the CMO and CMT have played their role which is important part for business. So neither can replace the other.  Read more at:https://channels.theinnovationenterprise.com/articles/will-the-cmt-replace-the-cmo

During the past decades, it has been seen that farming industries have made use of big data in a very efficient way. Many attempts were made to improve the crop yields of arable farming using big data. One of the evidence is that diary industry in Netherlands made huge margins after adopting big data. The data from farmers, soil type, soil analysis, and also analyzing weather can be used to predict the degree of accuracy in time for applying seeds and, fertilizers and chemicals. Read more at:https://channels.theinnovationenterprise.com/articles/how-can-big-data-positively-affect-farming

Data mining has taken a new form termed as a Dark Web. Law enforcements have made use of dark web to analyze data on websites and concluded that in 2010 over 100,000 sites contained extremist and terrorists' content. Today, dark web has become popular in finding and shutting down websites that can be used to facilitate criminal activity. Big data is also making use of such technique to collect data to better understand criminal behavior. Dark web has made it easier to keep an eye on illegal activities. Making use of dark web can stop these criminal activities which would ultimately results in favor of people. Read more at:https://channels.theinnovationenterprise.com/articles/mining-in-the-dark

Most of the big companies are now giving more weight to big data expecting that they could generate large revenues. Studies have shown that with the help of big data, companies have improved customer experience and attracted new customers. But lack of trained professionals and the need for better infrastructure has created some barriers for companies. Also, resources required to hire new professionals raise the cost of a firm. But this problem has been tackled by Data-as-a-Service (DaaS). This is a tool that mines the big data ecosystems and delivers the right data to your marketing channels and automation programs in real times. DaaS can be implemented across a number of industries, for both B2B and B2C.  Read more at: http://www.smartdatacollective.com/lbedgood/332896/how-generate-big-data-revenue-without-big-investment-team-data-scientists

Big data is playing an important role in football during these days. Football is continuously making use of performance analytics and making use of available information more efficiently to achieve competitive advantage. Most of the top level European football clubs adopted structured analysis process and dedicated performance analysts. Now clubs are able to analyze their data at just one click of mouse. Today players are wearing GPS trackers during training, acceleration sensors and heart rate monitors which records their data of performance and after analyzing those data optimal steps can be taken to improve performance. Also analyzing the opponent's data can give the team a lead ahead to win the game. Today performance can be judge easily on and off the field. Selection of players can be done by analysis of performance. Finally we all are seeing a completely different game during these years. Read more at: http://www.smartdatacollective.com/bernardmarr/332906/how-big-data-and-analytics-are-changing-football

Today marketers know how to enhance customer experience and implement new strategies to attract new customers. Big data, social media marketing and customer relations have influenced the marketing behavior. There will be no insights without data. But by managing data and analyzing it will lead to achieving marketing goals. Analysis of data should be such that it provides helpful conclusion to businesses to make strategies and reach goals. Documentation of business objectives helps business to know what type of data is required and how to manage data. Data should be integrated and structured in such a way that it is reliable to customers. Data validation is required to check the validity of data.   Read more at: http://www.smartdatacollective.com/lbedgood/332008/ultimate-beginner-s-guide-data-quality-and-business-intelligence

Big data is growing now days because companies are demanding more output from big data. Data and data management solutions have helped companies to modify the customer interaction and tackle the risk of uncertainty in timely communications. After having good views of customers, agents can help transforming marketing qualified leads into sales qualified leads with smarter interactions. There has been a change in the role of Chief Data Officer (CDO) who was earlier working as data scientist to help transforming big data into new repositories. Today there is compensation for CDO for the value they extract from all sources of data. The large volume and variety of data from other sources and social media has made the marketers very busy. CDO’s are held responsible to judge the relevance of consumer data and assign a particular value.  Read more at: http://www.smartdatacollective.com/gayle-nixon/332221/data-within-and-data-without

Predictive analytics can be seen as business investment rather than an IT investment. But researchers found that there has been shift of funding from general business budget to IT business budget. According to research 15 percent of the organizations prefer to purchase predictive analytics. But truly speaking you will find that there is increasing demand for predictive analytics. This can let businesses to respond faster to market activities and threats. Business investment in predictive analytics has occupied more space in front office but according to research IT and operations are closely related to these operations. To use such analytics technique, the requirement is just a permission from high level management of organization.  Read more at: http://www.smartdatacollective.com/tony-cosentino/332022/predictive-analytics-investing-and-selecting-software-properly

In our daily life we came across new technologies and making our life simpler. Today people are enjoying benefits of internet in form of online shopping, easily sending emails and transactions with friends online. Data is collected on the bases of these activities and improvements are made according to people’s preferences and tastes. Data mining is the key to collect big data and most of the businesses are dealing with these data to provide good services to consumers. Both of the large and small organizations are using big data. Earlier big data was providing benefits to retail and sales industry but now it also giving advantages to learning and development industries. Big data is also beneficial for employee training and can improve performance of current employees. Transformation of training process from traditional to modern techniques there has been a significant improvement in employees’ performance. Employers can easily motivate and inspire their employees. After getting good output from employees, employer gives more importance and satisfaction to employees. So, big data help employers to better understand their employees. Big data help companies to understand people’s requirements and providing facilities according to their preference. It also came in a form of learning and development tool for businesses to improve the performance of employees. Read more at: http://www.smartdatacollective.com/briggpatten/331869/how-big-data-shaping-future-learning-and-development-industry

Data provides valuable information to a firm to optimize its performance. Decision makers and strategists analyze data and take optimal decisions. Data analysis shows the firm its ongoing productivity and making predictions will lead to future growth. Employees also get benefit in terms of more productivity when they use data-driven tools providing more enhanced methods which they can use. Customer relations have been improved, as employees are more productive and can give more enhanced solutions to their customers. Analyzing the data collected from social media can determine how successful the conversations have been. This is possible just because of changing consumer behavior and innovations that lead to such change. Ideal business is one that reacts to social change. Analytical tools enhances culture among employees. More data is needed to improve customer service than before. Today there is a lot of pressure on employees as work is increasing with large data size. Here the data-driven technique  plays its role helping them to handle such pressure leading them to be more interactive and informative. Improvement in employee's performance will result in enhancement of sales process, training and innovation. This change will bring some excitement for employees, working with modern tools far better than those boring traditional tools. Building up the transparent system will bring good feedback from upper management for employees leading them to provide more optimal output. Read more at: http://www.smartdatacollective.com/daanpepijn/329438/data-changing-way-enterprises-optimize-employee-productivity

Data provides valuable information to a firm to optimize its performance. Decision makers and strategists analyze data and take optimal decisions. Data analysis shows the firm its ongoing productivity and making predictions will lead to future growth. Employees also get benefit in terms of more productivity when they use data-driven tools providing more enhanced methods which they can use. Customer relations have been improved, as employees are more productive and can give more enhanced solutions to their customers. Analyzing the data collected from social media can determine how successful the conversations have been. This is possible just because of changing consumer behavior and innovations that lead to such change. Ideal business is one that reacts to social change. Analytical tools enhances culture among employees. More data is needed to improve customer service than before. Today there is a lot of pressure on employees as work is increasing with large data size. Here the data-driven technique  plays its role helping them to handle such pressure leading them to be more interactive and informative. Improvement in employee's performance will result in enhancement of sales process, training and innovation. This change will bring some excitement for employees, working with modern tools far better than those boring traditional tools. Building up the transparent system will bring good feedback from upper management for employees leading them to provide more optimal output. Read more at:http://www.smartdatacollective.com/daanpepijn/329438/data-changing-way-enterprises-optimize-employee-productivity

Today not only big companies are enjoying benefit of big data but also the small and medium sized companies are in the line. Many SME’s have become big data users. The size of data has categorized the type of data users. These are high data user, medium data user and small data user. While the high data users are more sophisticated in tools and more proficient in the storage and accessing of data, all of them share the same problem. Earlier SME’s were not able provide information to decision makers in a timely manner and they find difficulty in presenting and sharing information in proper formats. This problem led SME’s to access the big data technology which made it easier for them to present and share the information in easy to understand formats. Big data technology not only applies to private data but can also be applied to combination of private and public data. This is possible only due to the property of big data technology that it can handle both structured and semi structured data. Its design allows it to work on data stored on cloud and to deal with dynamic processing requirement. Big data technology is mature, flexible and affordable. It can alter the way of doing work with data, decision tools are easily accessible and information provided within the documents can have better view. When a company becomes large, its systems will become large, information and data become large leading to difficulties in handling them. Big data technology has provided a road to have more efficient systems and better techniques. Read more at:http://www.smartdatacollective.com/bruce-robbins/331325/how-business-users-will-benefit-joined-data