As technology advances and AI becomes more common within enterprises, the number of insurers that utilize the powerful insights that AI and machine learning can provide is increasing quickly. While AI is undoubtedly benefiting insurance organizations, there is still a risk in blindly trusting ...

Do you work in the banking industry? Keep reading to learn more about the new artificial intelligence solution, Explainable AI (XAI), that is increasing customer trust, removing biased systems, and quickly transforming the industry for the better. What is AI? You may know that artificial intel ...

As technology advances and AI become more common within enterprises, the number of Finance teams that utilize the powerful insights that AI and machine learning can provide is increasing quickly. While AI is undoubtedly benefiting financial operations, there is still a risk in blindly trusting ...

As technology advances, more and more businesses have begun adopting AI and data-based methods to analyze mountains of data to drive better business decisions. The seemingly endless amount of data available to businesses is only valuable if someone on their team understands how to find insight ...

What Is Text Analytics? Text Analytics is the computer-driven process of analyzing large volumes of unstructured text data, utilizing Artificial Intelligence (AI) techniques to identify new and previously unknown insights, themes, or patterns in text. The Importance of Text Analytics The abili ...

Why is Telehealth getting more important in the health care industry? In light of the ongoing COVID-19 public health emergency, all indications are that Telehealth along with telemedicine will become a significant channel for administering care. In addition, providers are now able to offer and ...

Kawasaki Motors Corp., U.S.A. – Gearing Up for Accelerated Analytics A well-known and established company, Kawasaki Motor Corporation’s tagline, “Let the good times roll.™” is recognized worldwide. As a multinational corporation and global technology leader, KMC markets and distr ...

As technology advances, and AI becomes more common within business enterprises, the number of companies and industries that utilize the powerful insights AI and machine learning can provide is increasing quickly. While AI is undoubtedly benefiting companies, there is still a risk in blindly tr ...

Anomaly detection is the process of finding patterns in data that don’t conform to a model of normal behavior. Unless you’re a data scientist or practitioner familiar with tools that offer algorithms for pattern recognition, the principles behind anomaly detection may seem obscure and unap ...

Every day the concept of artificial intelligence (AI) is greatly changing and expanding. With new forms of technology, machine learning and artificial intelligence continues to grow and expand throughout the work force. But how will people comprehend the outcomes of artificial intelligence? Ho ...

If you work in a company or an organization that wants to improve the effectiveness of risk management and governance processes or just wants to improve the company overall, then you are probably familiar with internal auditing. Internal auditing is a consulting activity which is conducted ind ...

What does continuous monitoring of financial transactions mean? In short, Continuous Monitoring (CM) of financial transactions is a reporting system that continuously monitors financial transactions and provides timely and relevant (actionable) information for an executive to review and make n ...

Reimbursable employee expenses are a significant cost for most businesses, and unfortunately they are often a source of fraud by unscrupulous employees. To combat this, businesses typically rely on auditing employee expense reports manually. As this is a tedious and very labor intensive proces ...

“COVID-19!” the mere mention of the word sends an ominous shiver down our spines! Such has been the phenomenal negative buzz associated with the rise and spread of the Novel Coronavirus, from Wuhan China to what appears to be every nook and corner of the world!  However, as the US Surgeon ...

With the rapid growth of the internet and the IoT and the resultant digital transformation of the world we live in, there is an explosion of data that is being generated, collected and stored.  There is data available for “normal” transactions, as well as for the fraudulent of interest to ...

Mobile phones, smart watches, wearable health gears… there is avalanche of information and data about people’s health and activities today that can be leveraged. The data can be used to have more a clear idea of a person’s health and fitness needs. Hospitals and healthcare providers have ...

The volume of online transactions is growing exponentially — driven by the digitalization, sheer increase in the volume of online transactions themselves, larger scale of operations and new Financial Technologies (FinTech for short). Simultaneously with digitalization, there is a new que ...

As we inched closer to the end of the decade in 2019, it turned out be a year where financial fraudsters got really smart and sophisticated.  However, the fraud detection and prevention teams deployed by the corporate world and government agencies still managed to catch some of the most scand ...

Effective fraud detection and financial control initiatives leverage advanced analytics and machine learning techniques to derive valuable and actionable information for managers. The reliability of the results produced by these data intensive techniques is DIRECTLY dependent on the quality an ...

The volume and dollar value of fraudulent transactions has mushroomed in recent years due to the phenomenal growth of electronic transactions that span every industry segment, coupled with the relative anonymity that online commerce offers to crooks of all shades. In the era of extreme automat ...

With the burgeoning growth of electronic financial transactions and their relative anonymity, sophisticated fraud schemes have exploded in the last 5 years, as reported by the FBI and leading publications such as the Wall Street Journal, Forbes and the New York Times.  As reported by CNBC, ov ...

Healthcare claims are inviting and alluring target for fraudsters due to their huge monetary value. In 2017 alone, HHS and DoJ recovered around 2.5 Billion Dollars in claims fraud. And that is just one year. The challenges facing health care payers are manifold as they try to tackle the rampan ...

Fraud has been causing rising challenges for businesses. Over 72% of businesses cite fraud as a growing concern, and about 63% of businesses report same or higher levels of fraudulent loses over the past 12 months according to a report by Experian Global.  The challenge is not just about prev ...

10 categories of warranty fraud to watch out for. Sam says, all the warranty repairs are normally categorized into about 10 different categories. The final price charged varies between de ...

The task of cleansing, shaping and bending data for analytics or other business purposes is known as DATA PREPARATION. Data preparation is an inseparable component of many systems and applications managed by IT. Tasks such as data warehousing and business intelligence are the more formal work ...

Parenting is a roller-coaster ride of guilt and pride, especially if both you and your spouse are working. There has been a sharp increase in the number of families where both the parents are working than the previous decade, and unfortunately, it might be somehow permanently scarring your lit ...

Companies like Conagra are using AI-based platforms to launch new products quickly to capitalize on changing consumer trends Food and flavors have long been imperative to human civilization, and as consumers are becoming savvier with their food choices and home cooking, insights gained by usin ...

After the financial meltdown of the last decade, many lenders have found themselves in a tough situation where they just cannot use the conventional underwriting guidelines to identify enough “good borrowers” to whom they can lend money. For example, subprime auto lender Prestige Financial ...

by Ananta Mukerji The makers of cars, trucks and other vehicles account for between 40% and 45% of the warranty expenses of all US-based manufacturers. Fraudulent warranty claims therefore represent a significant exposure for Automotive OEMs, and it is important to understand these expenditure ...

by Ananta Mukerji Customized and personalized service is a very crucial differentiator in retail markets, and it has become a key issue in developing customer relationships. Marketing gurus all agree that marketing dollars are best spent in initiatives that are targeted at specific customer co ...

Being the cost-efficient option is no longer a draw in retail, it’s the standard. The Global Marketing Alliance suggested that modern competition from multiple real-world and online stores allows consumers to find the lowest offer every time they want to make a purchase. This trend has forced retailers to find ne ...

by Ananta Mukerji The opportunity for Machine Learning in detecting warranty claims fraud. Machine learning (ML) is a branch of artificial intelligence that looks at patterns of data and draws conclusions. Once it gets good at drawing correct conclusions, it applies itself to new data sets to ...

by Donna Sanchez Like many other industries, the retail world has undergone a number of major changes thanks to the rise of big data and predictive analytics. With improved access to both data and the powerful insights that follow, merchants can improve, enhance and expand operations in ways ...

by Robert Zachs The technology and rationale behind Nemesis Decades of experience fighting fraud across multiple domains, have led Aviana to conceive and develop Nemesis, a sophisticated framework based on the principles introduced here. Nemesis provides flexible data layers to process your tr ...

by Daniele Micci-Barreca Detecting Fraud Schemes A Fraud Scheme Scenario A large online retailer notices an uptick in orders for high-end products from newly established accounts. Management is thrilled although nobody seems to have an explanation for the improved performance in this niche seg ...

by David Sachs The challenges of identifying warranty claim fraud – finding a needle in a haystack? If you want it to be that way. Finding warranty claims fraud is as much about us wanting to do something about it as it is about finding the proverbial needle. Not to mention the fact, tha ...

by David Sachs Effective customer segmentation is one of the best ways retailers can stand out from the competition, maintain a strong level of engagement and grow their market share. By using business intelligence software, a business doesn’t just tap into the many dimensions of data� ...

by Shay Pal Predictive analytics give retailers an edge that’s hard to replicate using other technology and solutions: In the right context, the insights generated by predictive analytics can influence customer behavior in real time. For retailers interacting with online shoppers, that m ...

We often hear of the different mindset of the millennial generation – born between 1980 and 1996 –  in terms of ideals and perspective.  The millennials are often seen as more idealistic and more motivated by purpose than a paycheck.  This can be a challenge for a CHRO whose job it is to retain a millenni ...

“Millennials don’t want annual review – they want ongoing conversation,” says Gallup.  What these younger generations want is engagement.  They want ongoing engagement to feel heard, commit to a shared vision and communicate back to the organization on a regular basis.  They crave consistent ...

Building a team of “Citizen Data Scientists” – a practical experience view Unless you are allergic to every new hype word coming out of Gartner and other high profile research firms, you have probably heard the term “Citizen Data Scientist” a few times over the past 12 months. It is attributed to Gartner’s ...

With the ability to lower costs and generate life-changing insights, big data offers a tremendous amount of value to local governments. As information is collected, municipalities of any size can make data-backed decisions that reduce crime, lower traffic congestion and improve the environment, among other upgrades. ...

Many parts of the public sector require advanced technology to make sound decisions outside the context of the political arena. This is never more important than in the field of public transportation. Whether it's bus service, commuter rail, subway or light rail, transit agencies have a keen interest in ensuring p ...

In order to stay solvent and competitive with other forms of entertainment, the gaming industry must maintain a constant balancing act. Casinos and their resorts have to take the fluctuations of the economy into account all while following local ordinances. New markets also open up as more states legalize gambling, cr ...

Making blockbuster films in Hollywood is always a major risk. The average budget, which includes marketing and production, can balloon to the hundreds of millions of dollars, especially if it’s a film set for release in the critical summer months. A flop can lead to significant losses and write-offs. Consider t ...

Strong improvisational skills are helpful in certain aspects of life, but in the world of analytics, flying by the seat of your pants is not advised. Creating a roadmap for how your company wants to acquire, study and implement data is necessary. Leveraging information into substantial change is a great benefit for a b ...

The world of consumer packaged goods is a large and diverse one, with giant international companies and smaller but still competitive businesses offering a variety of product types and price points. The effectiveness and efficiency of everything from product development to distribution, marketing and customer engagemen ...

Manufacturing as a whole includes a number of conditions that make the use of big data and predictive analytics especially effective. From the many controlled, internal processes involved in sourcing raw material and producing finished products, to the management of some or all elements of the supply chain, the manufac ...

Medicine has a long history of changing and improving significantly as time goes on. While the current state of medicine is already a powerful one that helps a variety of patients dealing with many different conditions, that’s not to say there isn’t room for further development. Just as discoveries like san ...

BREA, California., June 7, 2017 – Aviana Global Technologies, Inc., announces the acquisition of Elite Analytics, the Texas based data sciences and predictive analytics specialists. This acquisition is a significant step towards achieving Aviana’s objective of becoming a premier business solutions company that ...

For all manufacturers, the supply chain is at the heart of operations. Whether providing raw materials and components for use in making wares or ensuring finished products are efficiently distributed, the supply chain drives the short- and long-term success throughout the industry. Gaining a stronger handle on the man ...

Consumer packaged goods represent an established market sector, one that captures the attention of a sizeable majority of the general public and will continue to for some time to come. With a strong foundation and brands that have a high level of recognition among shoppers, the CPG market is an indelible part of the s ...

Addressing the needs of each and every customer is a top priority for high-performing businesses in the hospitality industry. While the basic desire of most hotel guests is the same – to have a place to sleep and store their belongings – there are uncountable variations that exist beyond this foundational ...

IBM's Watson supercomputer system has attracted plenty of attention since it made its first public appearances. Watson, famed for its ability to understand questions posed to it in natural, conversational language – as opposed to computer code or other highly regimented forms of communication – gained ...

Predictive analytics isn't a concept limited to any one industry or market. However, the benefits it provides to the retail world are especially notable. Customer engagement and efficient, effective analysis of shopper data are both cornerstones of successful operations, and predictive analytics can offer benefits ...

Medicine is both a universal concern and a big business across the world. The unique, ubiquitous nature of medical care – something everyone needs at points in their lives – means it can derive some major benefits from effective and novel applications of big data and predictive analytics. With business int ...

Risks and opportunities are integral elements of operation for financial services companies. The ability to accurately predict, understand and analyze risk factors and potential opportunities gives companies in this industry an advantage over the competition and the base on which long-lasting client relationships ...

Since its introduction to the business world, the advantages of predictive analytics have been clear. Not only do such systems, like the IBM Cognos suite of products, aid immensely in developing understanding of past and current situations, they also provide a data-based look at potential future scenarios. With this s ...

The financial services world is diverse and complicated, with businesses carving out areas of expertise among a wide range of options. Companies that have a strong grasp on the data behind market conditions, trends and their own decision-making have a major advantage over their competitors. One of the most reward ...

Predictive analytics mean a lot of good news for patients when healthcare facilities implement and successfully use solutions involving these forecasting and modeling techniques.[This is structured weird. Maybe it would make more sense to say "With predictive analytics, so and so happens for patients."] With ...

Manufacturing is an enduring and critical element of the larger economy, one that has remained so effective through its ability to change and adapt. Taking advantage of business trends that catch on and prove their worth, as well as researching and developing new, better processes for production and distribution, have ...

Consumer packaged goods are a staple of the overall market, filling a number of roles in terms of convenience of use, easy access for purchase, shelf stability and many other consumer desires. The ubiquity of CPGs doesn't make the companies that produce or sell them immune to the pressure of change. The preference ...

Re: This article:http://www.forbes.com/sites/matthewherper/2017/02/19/md-anderson-benches-ibm-watson-in-setback-for-artificial-intelligence-in-medicine/#695216f33776 So I’ve had *several* people sending me this article, I am aware, and I know a few players involved and was holding off to comment until I met with ...

Gartner Magic Quadrants are out. As you can see, IBM didn’t get the best showing on BI, but killed it in Data Science. In the evolution of Analytics the journey goes from descriptive (what happened), predictive (what’s likely to happen), to prescriptive (what are the best possible actions to take). BI is ol ...

The Business Intelligence and Analytics journey begins in descriptive analytics. This is a well established discipline with many, many, competent players at every price point. They have the ability automate and streamline disseminating information about what happened. Then the human brain power and domain knowledge is ...

Big data is no longer a new and untested concept in the business world. Now, these especially large datasets a recognized and respected tool for businesses in a wide variety of industries. It's not enough to simply collect and store important information, however. Businesses that want to realize the benefits ...

The Affordable Care Act brought plenty of changes to the healthcare industry. Millions more Americans obtained insurance over a relatively short period of time, breaking down some barriers that previously limited access. This meant changes in staffing needs and labor allocations for healthcare providers, but that' ...

Predictive analytics has a major role to play in the continuing development of the healthcare industry. There are many different business-oriented and operational considerations that predictive analytics can improve, from helping healthcare providers find more efficient workflows to drilling down into the specifics fo ...

Omnichannel is a familiar term in the world of retailers, whether they're primarily based online or in brick-and-mortar stores. The appeal of an omnichannel strategy – one that includes bridges between different sales channels, offers a smooth experience when using any or all of them and promo ...

Manufacturing is an especially complicated process, with a multitude of data streams flowing out of nearly every step in the workflow. From designing new products and refining old ones to the supply chain information that comes along with distribution, manufacturers are frequently data rich. However, an abundance of i ...

One of the most powerful resources currently available to financial services providers is the large amount of data collected about clients. From their demographic information to financial history and past decisions made while working with your firm specifically, the information associated with individual cus ...

Manufacturing is a pillar of the worldwide economy. It's occupied such a position since the first industrial revolution, growing, developing and changing with advances in management, process and technology. Manufacturing's presence as one of the oldest components of the modern business world means it's hig ...

The consumer packaged goods market is an especially competitive one. The global nature of the market and the presence of so many major players mean it's vital to regularly seek out new opportunities and avenues for improving everything from product development and manufacturing to supply chain and customer en ...

Manufacturers still fulfill the same roles they did during the industrial revolution, but the processes, systems and tools used to reach that end goal consistently and drastically change. From the development of efficient electrical power to the continuing digitization of workflows, there are always improvements for m ...

Seasonal products are a major component of many manufacturers' output. While the concept may bring Halloween costumes and Christmas decorations to mind, there are many products that are only produced or sold during certain times of the year and have nothing to do with holidays. For large manufacturers that op ...

With so many elements of the consumer packaged goods field deeply tied to the quickly changing preferences of consumers, it's no surprise big data and predictive analytics can provide major advantages to the industry. Working with the right partner to select the most effective IBM software and implement it in an e ...

In every market, connecting with customers, creating positive engagement and retaining them in the long term are critical considerations. For highly regulated industries like financial services, it can be significantly more difficult to address these concerns. Myriad rules and legislation can make it difficult to offe ...

Efficiency is a universal concern for businesses, although the opportunities to streamline operations and make processes more effective vary greatly from industry to industry. For the hospitality sector, there are plenty of areas where predictive analytics and business intelligence software are driving new workfl ...

Big data is in a unique position in the business world. The use of many dimensions of information for analysis and subsequent action isn't just a pure advantage anymore. It's moving toward a mix of a benefit and a requirement as more companies utilize it. The question is less frequently whether or not a b ...

[icegram campaigns=”2164″] Predictive analytics provide major benefits to healthcare providers, helping staff more effectively treat patients and reduce the labor and resources needed to resolve each patient's problems. The benefits of analytics are many, but the idea of more efficient care is especiall ...

[icegram campaigns=”2164″] Many businesses are already experiencing the advantages of big data and predictive analytics, two major and positive changes to the way organizations optimize current and future operations and gain valuable insight. The next step in the continuing growth of analytics is cognitive ...

Value-based care is a growing part of the healthcare world that isn’t going away any time soon. If anything, this concept for insurers paying providers based on the quantity of services rendered will become even more common. For that reason, it’s vital that healthcare facilities have the capability to calcu ...

For all but the smallest and most remote retailers, omnichannel commerce is a major concern that will only grow in popularity as time goes on. While many businesses have adapted at one level or another to the idea of multichannel commerce – and there’s some argument as to the real difference in meaning bet ...

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The hospitality industry, from hotels to cruise line operators and theme parks, can gain significantly deeper insight into their customers through the right applications of big data and hospitality management system software. Perhaps even more so than in other service industries, companies in the hospitality field see ...

Wanting to make the world a better place is a noble goal, but it's also a bit abstract. Successful nonprofits pair their desire to do good with intelligent decisions to ensure resources and projects actually contribute to positive change. It's not enough to just give a helping hand to those in need. Unfortunat ...

While businesses try as hard as they can to anticipate the actions of the market, the success of investments and the efficiency of daily practices, there's one factor that is always difficult to anticipate: people. No matter how well-devised a business plan is, it will never get off the ground if employees don' ...

[icegram campaigns=”2164″] One of the biggest advantages of big data is the ability of the businesses using it to better understand the purchasing habits, preferences and quirks of customers. Everything from marketing efforts to the supply chain can become more streamlined and effective thanks to a better, ...

While predictive analytics offers many substantial benefits to many different industries, there's no area where the outcomes business intelligence software improve matter more on a life-or-death level than in the healthcare field. Hospitals that take advantage of a healthcare management system can move toward more ...

One of the must enduring and universal concerns for retail businesses is effective stocking and shelving. No matter the types of merchandise sold, the company's brand or the market segments targeted, maintaining the right number of products on shelves facing customers, in the stock room and in transit to retail lo ...

The constant search for more efficient methods of operation is a common one in the manufacturing industry. As technology grows and advances, there are new dimensions to consider in terms of seeking out areas of improvement. One realm where many manufacturing businesses may stand to realize some improvements is in term ...

Consumer packaged goods manufacturers can draw on the effective use of big data to realize new advantages and continue improving in an especially competitive marketplace. Access to many dimensions of data, from operational information to indicators of consumer preferences and past purchasing history, is the foundation ...

There will be students who need clothes and supplies when they head back to school in 2016. The questions retailers must answer are how many and where will they go to shop. This allows stores to prepare inventories and market to audiences most likely to be swayed by promotional content. Business intelligence software ...

Baseball, football and other major league sports in the U.S. and around the world have all seen some degree of transformation thanks to the power of predictive analytics. The effective application of analytics has changed the way teams scout potential draft picks and free agents, analyze the performance of current pla ...

The hospitality industry as a whole has never been more competitive nor seen faster transactions. Those trends are strongly tied to the use of digital and mobile tools, as guests constantly seek out the best deals – sometimes during their trip – and the right mix of amenities. Online bookings account for a ...

The abuse of opioids is a serious problem in the U.S. The Centers for Disease Control and Prevention found there were 28,000 deaths due to opioid overdose in 2014. This is the highest number since the organization began recording the data. Add this figure to the millions of Americans who use opioids for reasons beyon ...

To succeed in any industry, businesses have to be competitive. Products have to be more appealing, customer service must be effective and leaders need to jump on trends faster than other organizations in their field. Making split-second decisions is essential to staying one step ahead of competitors. To do this, manage ...

One bad Yelp review can severely damage a brand’s online presence. The good news is a positive review might also go viral and cause numerous individuals to jump on the band wagon. This is what happened when a young student praised a local pizza company for its excellent service and quality products, according to ...

As computers get smarter, the question continues to be what can humans do that machines can’t? This often leads to people listing out qualities that are believed to be uniquely human, like creativity, compassion and humor. While it’s true recent business intelligence systems may not be able to tell jokes, t ...

The chief financial officer and finance department have a growing responsibility in many organizations, thanks in part to the power of tools like predictive analytics. With the ability to better understand many dimensions of operations through the deep and broad visibility business intelligence software provides, the f ...

Analytics are no stranger in the retail world. As Randall Howard, a consumer products industry solutions marketing manager for IBM Analytics, pointed out, operational and consumer data have long been major factors in the way retailers plan purchasing, stocking, promotions, customer engagement and many other important ...

The healthcare field has a wealth of patient data available to it, information that can be harnessed to gain deeper insights into conditions and behaviors and lead to better outcomes for patients. Of course, the effective management of so many dimensions of patient and operational data can be difficult. Trying to anal ...

Big data is no longer a new concept in most industries, manufacturing included. Businesses as a whole in this sector recognize the value of a data warehouse solution – even though some organizations don't presently have such systems in place – that helps the company better analyze current performance a ...

One of the most important aspects of working in any business is keeping strong relationships with customers. Many companies have some level of churn that occurs at any given time. There's no way to completely eliminate turnover, but it's in an enterprise's best interest to at least minimize it. By having s ...

There are many reasons companies drag their heels on predictive analytics, but most are due to false assumptions. VentureBeat listed the common excuses, which include technology shortages, reliance on data silos and unspecified goals for the practice. One of the most prevalent reasons for hesitancy is a lack of c ...

There's nowhere left for data to hide in the modern business environment. Mobile devices mean employees can collect information in inventory warehouses, productions plants and distribution routes. Manufactures can source their supplies from anywhere – even the middle of a field. Harvesting data There is ...

The costs of mistakes in the healthcare industry can be devastating. Unfortunately, however, they are not uncommon. The Journal of the American Medical Association found U.S. hospitals waste about $128 billion due to failure to provide care and $192 billion in overtreatment every year, according to FierceHealthcare. Th ...

Manufacturing has overcome a variety of obstacles in recent years. A global market creates plenty of competition, and many brands have just begun to get back on track after the 2008 recession. As businesses look for leaner production processes, they turn to technology for the information necessary to ensure proper ret ...

Predictive analytics has been a business practice for decades, but it took a Brad Pitt movie to bring it to the attention of many individuals and organizations. The film and book "Moneyball"  detailed how a Major League Baseball team turned players into statistics when selecting lineups, according ...

Way back in the day, an individual would make a product and then sell it themselves. As industry flourished, the supply chain segmented, and retailers assumed the responsibility of passing on goods to consumers. It seems what's old is a new again, as modern communication channels allow manufacturers to sell their ...

When people are on vacation, they want the best care for their money. This usually means personalized service as opposed to automated routines, but as predictive analytics gets better and more practical, automation can deliver the same personalization as talking with a human being. This is why Hilton is able to u ...

What makes employees happy? This is a question many businesses try to answer if they wish to benefit from worker retention. Demand Media said holding onto existing employees allows for organizations to invest in employees, save money on training and build a relationship with talented individuals. The ability to monito ...

It may seem like disaster strikes out of nowhere, but in many instances, there are signs emergencies are about to take place. Hurricanes are usually heralded by atmospheric conditions, financial crisis will stem from irregular market activities, and emergency room visits are prompted by preexisting health concerns and ...

A slight downturn in business may present challenges for hotels in the U.S. that can be overcome with new ideas. Hospitality Net shared information from E-forecasting.com's Hotel Industry Leading indicator that predicted a slight recession in the near future. After steady growth between 2009 and 2015, the sec ...

Effective analysis often means looking at the big picture. Even in predictive modeling software, there is a need to properly develop a full understanding of all the information a company's datasets entail. In this way, decision-makers can move effectively with evidence backing them. However, even with large amount ...

The powers of business intelligence software that incorporates big data are great and diverse for most businesses. Many important decisions that used to require some basic level of information and gut instinct can now be informed by data that gives nigh-concrete evidence. However, it's important to consi ...

Ask any retailer or marketer how to reach consumers today, and he or she will tell you we’re in the age of content. We can point to Google for having a major hand in shifting this climate. The search engine emphasizes providing users and customers with information relevant to their needs, not just employing SEO p ...

As healthcare becomes a growing concern among many Americans, there is a potential to unlock new initiatives that help improve the well-being of many and possibly save lives. Big data has many uses, including identifying health issues as they appear, getting a better understanding of certain conditions and working out ...

Predictive analytics may initially seem too good to be true. By collecting data on trends and daily business operations, companies can forecast future events by comparing internal information to market activities and plan accordingly. Some organizations may be skeptical about data's ability to see the future. In c ...

For many people within healthcare and science, big data has the potential of greatly answering some of the most important questions we face daily. From unlocking the secrets of human nature to understanding the trajectory of illness, there's a lot that predictive modeling software and healthcare performance manage ...

For many businesses, the important question that often comes with understanding big data is "Where are we to put all this information?" It's not exactly a simple task, for there are volumes of material that get recorded each and every day. Moreover, it's not like companies can use most database pract ...

Hospitals, primary care providers and clinics stand to benefit from the existence of a healthcare management system that makes the most of big data provided from electronic health records. While information from wearables gets a lot of press, the formal and organized structure of EHRs will likely be the influenci ...

Business intelligence is an important element of any company, largely because it can greatly influence decision-making. However, various firms get caught up in the processing portion of implementing custom BI solutions because their sources of data are numerous and extensive in what they offer. With so much infor ...

In retail, especially e-commerce, a store's website serves as its storefront. This key access point needs constant care and maintenance. At the same time, even the best preventative measures aren't always going to work out, and a technical snag or item discrepancy causes a customer to stop a pur ...

Among the areas of business that benefit from predictive analytics, marketing is not often among the most mentioned. This is partly because many marketing departments already embraced the concept to some degree. However, the depth in which ad campaigns, direct promotion and other methods of getting customers into the s ...

One of the trickier aspects of big data is presenting a clear picture to all the information a company receives. Visualization is an extremely important method of presenting details that can help create actionable decisions, especially when processed by business intelligence software. However, the visuals often take t ...

Of the many industries out there that rely heavily on statistics and data, the life insurance business stands out. Given that policies are heavily tied to a person’s mortality, getting a better idea of when he or she is likely to die becomes an important matter to determine as that will ensure the return on inv ...

The manufacturing sector constantly looks for ways to improve productivity and maximize efficiency. That includes automation of the production process, digitization of inventory management and techniques to optimize the potential of each laborer. However, such processes aren’t enough to best the competition, so t ...

Business intelligence software is an important aspect of many companies’ operations. It can help them get a clear picture on how their supply chain looks, what customers expect of them and their revenue outlook over the next several months. Combined with predictive analytics, it would only make sense that the sof ...

When it comes to recreational activities, the guest experience can be paramount over all other aspects of operations. This is especially the case with zoos and aquariums. With the primary audience being families with children, these organizations tend to have a more behaviorally demanding group of customers than a luxu ...

The average business executive now sees the potential of big data and how it can be useful in operations, accounting and more. However, if he or she were to actually look at the reams of data that a company records on a daily basis, it would not make any sense. As ITProPortal noted, the deluge of information would get ...

It goes without saying that big data is now a common feature among many businesses, both big and small. However, its great potential remains rather illusive. The problem lies not with the tools necessarily, but the data itself: There is simply too much of it going around. While that may not se ...

Predictive analytics is now a strong force in the business world. Still, there are issues that remain. With so much data going around, it's impossible to have enough data scientists trained to glean factual and actionable information out of the various statistics and raw code coming in. As Forbes noted, there ...

Because of the prominence of big data, there is less proselytizing of the technology as being at the cutting edge. The rise of custom BI solutions made that possible for businesses, as business intelligence benefits greatly from the extensive reams of raw data. Now, many firms seem to replace big data as the key tech ...

Predictive analytics has a lot of potential applications for various industries and companies. But what about individuals? What chances do they have to apply this type of analysis to their daily lives? It turns out there are already efforts to bring big data into one's lifestyle. As healthcare becomes more importa ...

There are many metrics that apply in predictive analytics, especially in business. When incorporating platforms like Cognos BI software, it's essential to know what particular measurements a company should look at closely and better forecast. In the case of the consumer and packaged goods sector or any other busin ...

The financial services sector benefits greatly from using data analytics in its business models. The financial reporting systems used by banks and hedge funds help them understand the bigger picture as well as the small details. This technology helps them gain a competitive edge over other companies through a bet ...

While many of us might welcome the warmer temperatures the approach of spring and summer bring, not everyone is a fan of some of the events these seasons entail. If you're a live music buff but abhor outdoor music festivals, along with their crowds and long lines for food, water and the bathroom, you' ...

As the number of baby boomers retiring climbs, many businesses hope the next largest generation can replace the gap in purchasing power that their parents will inevitably leave behind. This is why everybody from consumer packaged goods companies to retailers continue to scramble to find the best way of tapping the mil ...

Whether you're a businessperson or a consumer, we're all dependent on transportation to get us and the items we sell or pay for, from point A to point B. Even if you ordered same-day or two-day shipping, there isn't an absolutely guarantee that your package will arrive on time. Companies as well as cu ...

Providing an omnichannel shopping experience to your customers might be convenient for them, but not always for you if you're a retailer. Your patrons aren't always aware of just how much work goes on behind the scenes to create a seamless encounter, from the customers viewing the product online to finally pur ...

Going to the movies or simply sitting down to watch your favorite TV shows will never be the same. And that could be a good thing for both you and media and entertainment companies. Using big data and predictive modeling tools gives TV and movie studios a much better grasp on what their audiences do and don't  ...

No one likes paying bills. But it's a necessary evil to keep the lights on. Many major utilities and telecommunications firms already use subscription billing to ease the burden of sending out paper notices. Plus, the pact allows a business to simply deduct the money owed from the client's account each month. ...

How's your bracket doing so far? With March Madness in full swing, there's probably a lot of healthy competition going on in your office betting pool. How can you gain the advantage and get a better bracket? After all, you probably never thought Middle Tennessee would stun favorites like Michigan State. How ca ...

It's easy for small neighborhood cafes to remember their regular customers and anticipate their orders. After all, small businesses thrive on customer service and knowing their best patrons by name. However, it's not always so simple for midsize or larger retailers, restaurants and other companies to know ever ...

If there's one thing that governments consistently have in abundance, it's data. In fact, as IBM noted in a white paper, the general problem with governments is they have too much data and no real way to use it. Considering they were among the pioneers of computing and creators of information technol ...

It's inevitable that some fraudsters will try to use stolen financial data with your website, especially when you happen to be one of the largest online payment processors in the world. PayPal, the Internet payments system, processes transactions 24/7 from all over the globe. In fact, the company reported it ...

This week marks the start of the most significant conference on climate change in recent memory. COP21, taking place in Paris, will bring in various world leaders in an attempt to hammer out an agreement on the anthropogenic impact on the environment, especially as it relates to climate. However, the governments ...

Personalizing the shopping experience is increasingly crucial for retailers as they try to strengthen ties with their customers and, hopefully, retain them as lifelong patrons. In fact, many stores wish to gain a better understanding of what they call the "customer journey" – that is, the path the ...

The music industry hopes using predictive modeling software will be a game changer when it comes to anticipating the next big recording artist. As more industries adopt big data and analytic tools to examine patterns in customer buying trends, music labels are turning to SPSS predictive analytics software to get a bet ...

Not only do patients get the most out of their visits to the hospital, but health care centers also boost productivity and lower their expenses when the facilities put predictive analytic tools to work. Doctors and hospital staff gain better control over operating room schedules, so they can ensure those who need an o ...

Every business that regularly deals with the public, from restaurants and hotels to retail stores and service providers, might think they can readily spot their unsatisfied customers. Some patrons choose to take their anger out on a manager or staff face to face. Others choose to post bad review on Yelp. Any ...

Human resources professionals have their work cut out for them. This type of job requires a lot of juggling and wearing more than one hat. HR must be both people persons and knowledgeable regarding benefits and new laws that can affect their employees. One of the hardest jobs, though, is the balancing act of keep ...

"If only we knew then what we know now" is probably a lament many epidemiologists contemplate when they try to find a way to combat the spread of a serious disease and contain an outbreak. Thankfully, doctors have a wide range of tools and instruments at their disposal to find how an illness spreads, wh ...

Businesses use predictive modeling software to determine what their customers will want before their patrons even know it. Big data and analytic solutions, though, aren't solely regulated to the marketplace and business world. In fact, online dating websites employ the same kind of predictive modeling tools t ...

How do you usually rate a movie you just saw? Do you simply tell your friends and family to catch it or skip it? The odds are you do that but you also give your thumbs up or thumbs down on Netflix, IMDB or a review aggregate websites like Rotten Tomatoes and Metacritic. Not only do we now share our opinions on mo ...

The rate at which fashion designers and clothing retailers adopt new styles picks up every year, so much so that it can cause inventory problems for stores. Merely splitting clothing seasons up into Fall and Winter and Spring and Summer is a thing of the past as practices from fast fashion stores such as H&M, Zara ...

Predictive analytics is nothing new to colleges and universities. Over the past few years, educational institutions have used big data and predictive modeling software in their admissions process. Even high school students employ algorithms to find the college that could be the best fit for them, according to U.S ...

As a regular, everyday shopper you might not know it, but a lot of work goes into designing and positioning retail displays. The only problem with that, though, is a lot of guesswork goes into formulating displays and their locations. In the past, department stores used trial and error and gut thinking to try and piqu ...

Business intelligence software such as predictive modeling tools continue to change the way we do business by crunching numbers and anticipating problems and outcomes. These solutions have already made an impact on the hospitality and health care sectors by helping them gauge the need for services, so they can be ...

Not only do strategic predictive planning services give hospitals added control to manage their costs, they also make for a more organized operating room. Data analytics, especially predictive analytics that harnesses the power of big data to come up with likely scenarios, helps health care services operate more effic ...

One of the more difficult tasks associated with running a business is marketing to the right audience. Having a good grasp on the territories, demographics and financial statements of a given customer is barely enough to muster the promotion necessary for the purchase to happen. Timing and various intangible factors c ...

Restaurants around the world already employ hospitality management system software to help managers gauge demand. In fact, the dining industry can be such a hurly-burly world with openings, turnovers and closings that it needs solutions such as predictive analytics to maintain a grasp in the field. Howe ...

If business intelligence software such as predictive analytics can give the C-suite insights to prepare their companies for the future, what will the rest of 2016 look like for predictive analytics solutions? The answer to that question is continued use and popularity as a greater number of industries adopt SPSS predi ...

Look at your smartphone. The technology we use everyday and take for granted wasn't possible just five or 10 years ago, or if it was, it didn't fit into a slim and sleek case in the palm of your hand. The same holds true for the solutions companies use to conduct business on a daily basis. During the previous ...

Predictive analytic software is not only used by the business world to forecast customer demands. Companies also employ these solutions to assess risk and potential threats. This makes analytics and big data an extra barrier against threats both internal and external. This added form of cybersecurity ensures unau ...

With big data becoming an important part of the business world, there's a lot of potential for people to get involved in the field. As a result, many are considering a career in data science. However, questions remain on whether that will be enough to help companies conquer the massive amounts of data they contend ...

Any business that performs extensive marketing understands the importance of lift. It's the essential metric of many campaigns, as it determines how many purchases came from the campaign as opposed to standard sales. Performance analysis software can be a great tool in assessing lift, for it helps identify ke ...

The bottom line of many businesses has long involved intangible factors that seem outside their understanding. This is usually in part due to the lack of instrumentation that can measure certain aspects of the business. As a result, the ability of financial services and other related industries to have better control ...

Understanding where the bottom line stands remains a keystone of business strategy. With financial performance solutions that use data analytics, it's possible to get a better picture of where a company stands in terms of profitability. However, there are many different measurements that have a hand in determ ...

The Internet of Things wouldn't get anywhere without some support from analytics platforms. Whether through the use of predictive modeling software to anticipate key developments in business or IBM's Cognos BI to get a clear picture of the state of operations and its future, the data that machines provide by c ...

One of the most significant changes in society in the last two decades is the rise of millennials. This generation, often the children of baby boomers, is now representative of a sizable portion of society and a near-majority of the workforce. They will play an unclear but outsized role in the economy in the ...

Wherever there is data, structured or otherwise, there's a good chance that predictive modeling software and analytics can process it. The results vary, but people can learn a lot about certain phenomena, as well as possibly gain an understanding that may be different from what came before. Businesses can use ...

The business and processes of data analytics require a high level of expertise at the controls. Data scientists are in demand for this reason. However, getting the right person for the job of constructing something meaningful out of the reams of raw information gathered every second by your organization is a litt ...

One technology that seems on the verge of a breakthrough is additive manufacturing, also known as 3-D printing. While the technology has been in existence for nearly three decades, its move to the consumer mainstream in recent years is the source of a wellspring of growth in usage and applications. With many metals, p ...

Two major advances in technology have the potential to greatly change how everything operates. One is data analytics, where the gathering of raw information can help plan out and predict actions before they happen. The other is the Internet of Things, a powerful system of sensor interaction and machine communicat ...

Data analytics is more than just the consumption and processing of raw data. It's explaining a situation or telling a story about why something has or will happen. As a consequence, one of the most important aspects of the process is visualizing the data in a way that makes sense to the stakeholders that will view ...

If there is one area directly influenced by the rise of data science, it's statistics. The relationship between the two fields is hard to describe, as the former lacks a complete and clear definition while the latter covers a very broad range of topics. At the same time, the two play off one another in unique ...

"An investment in knowledge always pays the best interest." – Benjamin Franklin Aviana believes that analytics is more than a field. It's also a large community of people trying to do more with data to make the world work better. That's why we launched Aviana Hub, a community site dedicated t ...

As businesses implement performance management software and custom BI solutions, the question becomes how to use the analytics they provide. Mere gathering of certain metrics is not enough to make an informed decision, even with the development of big data practices. What matters is what companies make of the data to ...

Many businesses are now seeing the benefits of integrating business intelligence software into how they operate. However, quite a few don’t take the potential of this system, and more often simply use it to understand events that have already happened. In taking a reactive approach to analytics, companies lose ...

Despite all the major changes in marketing, one element remains the same: Marketers must gather leads before they can really promote to potential customers. Lead generation is the component that lays the foundation for the marketing funnel prospects go through to become clients. This is especially important in the bu ...

One of the more exciting fields in the energy sector is wind power. As renewables gain more exposure to the public, wind power carries distinct advantages over solar or hydroelectric, including greater cost-effectiveness and the ability to operate without constant sunlight, greatly increasing potential locations for f ...

The petroleum industry is an incredibly lucrative business, with profits exceeding the billions. However, it is also really risky, for companies must undertake an expensive process to explore and identify new fields, then procure and move heavy equipment to sites, including hazardous areas such as the ocean. On top ...

The days of just relying on a record store clerk for new music recommendations are dead and long gone. If you've ever purchased a vinyl record, cassette tape or compact disc, then you've no doubt shopped for tunes inside a brick-and-mortar shop. But parts of the music industry are increasingly using predictive ...

As we have spoken about in the past, data analytics has a major impact on marketing through the use of automation tools. By automatically inputting data from different vectors, there is a great amount of information to yield from a campaign as it’s happening, which can help marketers make alterations that incre ...

Financial service businesses are using big data to change the way money is transferred and collected. With more information about the way individuals, companies and even governments spend and invest, banks gain valuable insights about the best practices for managing funds. For business leaders in the financial industr ...

Understanding the value of a daily financial operating report can make a tremendous difference for a business in terms of efficiency and ability to reach potential customers. Tracking a company’s expenses and revenue every day can give the chief executive and chief financial officers a greater realization of how ...

Talent is one of the primary assets a business possesses at any given time. With a strong workforce that can get results, companies have the means to innovate, compete and thrive over the long term. However, talent acquisition is a tricky process, since until recently, the best way to get new talent was to publicly op ...

Customer rewards program provide great value to both businesses and their customers. In exchange for a customer discount, companies gain loyalty. Businesses can gather as much information as possible about their buyers in an attempt to keep those customers coming back for more. Businesses that understand who is ...

One industry that truly benefits from advances in data technology is health care. Whether it is research, marketing or treatment, the overall goal remains the same of making patients better and healthier overall. Data analytics, especially in the scope of using electronic medical records, is an important step forward ...

Marketing automation has addressed many of the issues that marketers encounter over the course of promotional campaigns. Staffers could greatly mitigate the amount of data entry required to input results or to directly reach specific leads, time they can then use to improve a strategy. However, there’s more wor ...

Auto manufacturers have always used data to influence how cars are built and marketed. However, miles per gallon and quarterly sales figures are no longer the only statistics to review. As the power of analytics has grown, advanced data software provides more information, businesses within the auto industry gain  ...

A company invested in analytics and improving its performance should also spend resources on employee training in the field. Helping workers understand the value data brings a business and how to use analytics to solve problems makes the company more efficient and ultimately, successful. When more peopl ...

In 2013, the occupancy rate for the nearly 5 million hotel rooms across the U.S. was 62.2 percent, according to the American Hotels and Lodging Association. That same year, the average room rate was $110.35, which means the 37.8 percent of vacant rooms cost hotel chains billions of dollars in sales. Hote ...

Making the data a company has stored more agile should be a top priority. Businesses of all sorts compile and store data. Studying analytics of this data plays an important role in so many different fields these days, and having a wealth of information is often necessary to be an industry leader. But what good is all ...

Fraud is among the most significant and expensive issues the health care system deals with these days. Sullied data, embezzled funds, fake claims, mysterious gaps in accounting – all of these crimes drain the industry of resources that could be better utilized elsewhere. In 2012, th ...

In the years following World War II, the American population saw a huge spike. Known as the baby boom, the number of Americans jumped from 139.3 million on July 1, 1945 to 152.3 million in 1950 and 180.7 million in 1960, according to the U.S. Census Bureau. “Americans between the age ...