|
From an article in The Economic Times, we come to know about the few main parameters on which IT sector would be heavily concentrating in the year 2014. For More Information:
|
Healthcare organizations are becoming proficient at creating and storing terabytes of data each month. Unfortunately, their skills to transform that data into knowledge and useful information are not quite so impressive.
The major primary obstacles to widespread analytics adoption are:-
· Culture does not encourage sharing information.
· Lack of understanding how to use analytics to improve the business.
· Ownership of the data is unclear or governance is ineffective.
Please go through the link for more details:
|
An article by Josh Bersin, HR and talent management consultant, explains how some companies have used HR analytics to bring about a positive change in their organization and how some companies are still dealing with data management and reporting complexities. For More Information:-
|
Big Data was the talk of the town in 2013 and the trend is likely to continue in 2014 as well. Though Big Data has been used in the finance domain earlier, it has been limited.But this year it is expected to take a giant leap in terms of its applicability.
Using the power of social media and analyzing the vast amounts of data generated by them, financial companies can directly interact with their retail clients to provide them with an insight to the customers’ experience. Finance sector being data-centric, Cloud technology will help companies store large volumes of data which was otherwise not feasible given the cost and technological setup constraints. The sophisticated mobile technology will help in generating more data from the customers within an exceptionally short span of time. And finally, Analytics will do the most interesting part – forecasting and predicting results with the help of Predictive Modeling and beyond. Together, the Social, Cloud, Mobile and Analytics (SMAC) will close in and will redefine the financial sector operations.
Additionally, Big Data and Analytics will be used more and more in solving different financial cases and also studying investment practices with the help of Semantic Analytics.
For more information,read http://www.wallstreetandtech.com/data-management/big-data-use-cases-across-financial-serv/240165075 to know on how Big Data is about to change the Financial world.
While various Analytics softwares help you to track & get basic traffic and visitor data, they also have few yet hazardously significant holes. There are many reasons for getting irrelevant, non required and Null/missing data. Some examples of the areas from which you might be getting conflicting data are Internal Traffic, Direct Traffic, Mobile Traffic, Private Browsing Traffic, Keyword Traffic, Social Media etc.
To know more, visit the following link:
http://blog.kissmetrics.com/what-analytics-is-hiding/
In USA, approx. 8o% of hospitals are using electronic health records, due to which it is possible to gather useful information for research & development. Now healthcare industries are actively looking for transformation of its major areas by meaningful use of analytics.
To know about its challenges and impact, please go through the link: http://ehrintelligence.com/2014/03/17/for-healthcare-analytics-you-need-to-have-goals-in-sight/
“The future is like a corridor into which we can see only by the light coming from behind”, well said by Edward Weyer Jr.. Like that, to analyze anything, the first step is to collect relevant data and develop predictive score for each element, the second step is to assess these predictive score and then implement it into a model. Finally prediction and conclusion can be made accordingly. The book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die by Eric Siegel explains how predictive and other insights associated with predictive analysis work.
Please go through the link for more details:
http://www.amazon.com/Predictive-Analytics-Power-Predict-Click/dp/1118356853
Laura Noonan, Marketing team lead at CallFinder, talks about how important it is to monitor the call center agents for providing customer satisfaction. She also emphasized that the companies must also provide equal priority to employees, ensuring the satisfaction with their role. She also speaks about the different advantages of monitoring calls between the customers and agents.
For more information follow
An article by Mr. George Shen, information strategist and consultant with Deloitte Consulting, explains how analytics has become an inseparable part of any election process nowadays.
For More Information please visit
http://www.analytics-magazine.org/january-february-2013/731-big-data-analytics-and-elections
This whitepaper describes how HR Analytics is helping core HR business processes to make right business decisions.
For More Read Information :
| https://www.informationweek.com/whitepaper/Business-Intelligence/Analytics/hr-analytics-driving-return-on-human-capital-inv-wp1300214171928?articleID=182900009 |
Advanced analytics is an opportunity to redefine the banking sector. Some banks will seize that opportunity and will be able to explore the market & gain significant market share. Just like, some banks had initiated providing ATMs & internet services to customers, in order to truly create a differentiated position for themselves, enabling them to achieve competitive advantage over the rest.
Innovators are using big data and analytics to sharpen risk assessment and drive revenue. Banks who are implementing data analytics will be in an advantageous position for some period of time, while other banks playing catch up. So there’s an opportunity to make some smart, targeted investments. If you want to sustain your banking business in today’s volatile market, Think big, Think innovation! Think analytics!
To Read more, Visit......
http://www.mckinsey.com/insights/business_technology/how_advanced_analytics_are_redefining_banking
Steven Rust, Ph.D., “the Battelle’s Inventor of the Year”, developed and demonstrated a very useful analytical tool which can predict risk associated with a patient in such a way that it can be prevented in an early stage.
Please go through the link for more details:http://www.battelle.org/media/press-releases/rust-is-battelle-inventor-of-the-year
Stuart Rose, global insurance marketing manager at Cary, talks about how Insurance companies gather piles of text based data everyday about customers’ detail. It also addresses the different patterns used to explore unstructured information and analyze them. Text Analytics helps in understanding the details contained in the unstructured sources. The areas where text analytics can positively impact on insurer profitability are – Subrogation, Fraud Detection and Brand Reputation.
For more information please follow
Insurance organisations face problems in storing information. With the increase of information, innovations are required to handle information to detect risk properly. With the help of analytics in distribution channel, market products have improved. It also helps in taking decisions and reduces customer retention.
For more information, please go through: http://www.youtube.com/watch?v=KN-KgCgZdTE
The main threat of any insurance organisation is to detect fraud. To prevent fraud effectively, SAS has taken a Hybrid Approach, which enables detection of fraud 10times more effectively. The technologies in this Hybrid Approach are: Business rules, Anomaly Detection, Predictive Models and Social Network Analysis.
For more information, please go through: http://www.youtube.com/watch?v=HbJmJ_jK7gU
A recent webinar by INDUSTRYWEEK explains the different uses of predictive analysis in auto industry and how it is changing the competitive atmosphere.
For More Information : http://www.industryweek.com/webinar/predictive-analytics-transforming
The biggest challenge for any insurance company is to capture, store, search, share, analyze and visualize big data. Moreover, handling these data is also very challenging for the insurers. Étienne Castonguay, partner and co-founder of InEdge, suggests that Predictive Modelling in insurance can help them in solving the problems.
For more information, please go through: http://tdwi.org/Articles/2013/02/26/Insurance-Analytics-Trends.aspx?Page=1
Mick Collins a senior consultant with SuccessFactors, writes in his blog, how companies are growing with the use of big data analytics in the field of Human Resources.
For More Information :-
| http://blogs.hbr.org/2013/12/change-your-company-with-better-hr-analytics/ |
To find new opportunities and minimize current problems, it is important for an organization to collect and use big data efficiently. On a day to day basis, Excel is a common tool. But when it comes to analyze huge data, sometimes Excel becomes inefficient. The probability of errors are always there in spreadsheet, especially when data set is more complex. A blog by Renat Stewart, Banking Officer at M&T Bank, talks about how to utilize Excel spreadsheet in an efficient manner.
Please follow this link : http://www.riverlogic.com/2013/05/data-complexities-prove-excel-spreadsheets-difficult-to-maintain/
Machines are important in any manufacturing industry. As wear and tear of the machines are obvious, a preventive maintenance program is vital to i) reduce machine downtime, ii) get the overall view of the health of the machine and iii) estimate the cost of the maintenance.
The preventive maintenance can be done with the help of a Predictive Maintenance program, also known as PdM which includes the techniques of Predictive Analytics. Different sensors installed in the machine provide inputs to the Analytical Software from which the degradation process can be understood. This will help in predicting different failure modes of the machine.
To know its benefits and how PdM improves machine & equipment maintenance, please go to http://www.lselectric.com/4-ways-predictive-analytics-improves-equipment-maintenance/
