by Stephanie Rabinowotz | Dec 14, 2015 | Big Data
With all of the holiday parties bursting to life this time of your, I thought it would be appropriate to put Big Data in terms that can be related to every day life.
Imagine you are new to a company, competing with the other intern they hired the same time as you for the next opportunity to move up in the company. You attend the company holiday party, dressed to the nines to make the right impression. You are charming and interesting, but you cannot seem to remember half the names of the executives you are chatting up. Your boss asks you about the latest developments in the major project the company is working on and you can’t give him an up to date answer.
Meanwhile, the other intern is connecting with all of the execs because he knows what to talk about and with who to talk. He has done his research and not only knows the names of all of the people he is talking to, but their spouses as well. You over hear him talking about the latest predictions about the company’s big project based on the analytics he has been running, and you think to yourself, “That’s it, I’m done for”.
This is what it feels like between companies who use Big Data and those who don’t. Obviously the intern using Big Data is going to be the top candidate for the open position in the company all because he relied on the objective data to give him accurate information. Companies can put on a pretty face, charm you and try to pretend that they know what they are talking about, but ultimately that will all come back to haunt them. Big Data is information and information is your biggest asset. Having the more current, accurate information is what is going to make companies money and ensure success, not a sharp looking suit.
See how Big Data can change your company into the business people can trust and rely on. Check out Cliintel for more information.
by Stephanie Rabinowotz | Dec 11, 2015 | Business Optimization
Big Data has proven itself a loyal tool to businesses, but one must know how to use Big Data to release its full potential. Here are a few tips on how to utilize big data to make more accurate decisions and see your business with better clarity.
Baby Steps
Start small when introducing big data into your business. Don’t try to apply Big Data to your entire business at once, start with a small section and work out the kinks there. Once that test has proven true, start to utilize Big Data in other areas. This is the best way to make sure you are catching even the smallest problems within your business.
Be Clear and Reasonable
The easiest way to get out of hand with Big Data is to allow data fetish to sweep you off your feet. Many people believe they can just bring Big Data into their operation and voila! All of their hopes and dreams for their business have come true! Not so much. Businesses must clearly define their goals and put them in metrics, or something that can be accurately measures. You can’t just say ” I want to be successful by next year” you must instead define your goal as ” I want our ROI to be X amount by July of 2016″. Expectations must be realistic and clearly defined to see progress.
Not All Goals Are The Same
You cannot apply the same goal to every aspect of your business because they are all separate. Variable must be taken into account and adapted for when deciding the ROI’s for each project. It is important to remember in order to have clear, measurable success, you must start with being very specific. Make sure you consider the differences between projects and adapt accordingly.
Big Data is an extremely useful resource in the business world as long as it is applied correctly and managed tightly.
by Stephanie Rabinowotz | Dec 9, 2015 | Business Optimization, Project Management
Ever wonder if Big Data could be used in Law Firms?
When we think of a law firm we don’t generally picture a bunch of lawyers sitting around computers crunching data, but the reality is that there is a lot of paperwork and analysis involved in law.
The processes in law are long and rigorously documented, meaning there is a lot of information lawyers much go through when remaining educated on a case. This Big Data Lawyer enlightens us on how Big Data could be used to analyze documents, saving lawyers valuable time.
CLICK HERE to listen to this podcast and learn how
Big Data lawyers believe the utilization of Data Analytics in law firms could be highly beneficial!
by Stephanie Rabinowotz | Dec 7, 2015 | Big Data, Creating Competitive Advantage
Imagine being able to go about your day and know that a computer is making you money. You don’t need to sit in front of it, you can go golfing or into the office and know that back home you are potentially scoring extremely valuable stocks. This is now being accomplished through trading algorithms.
Algorithms are a clear set of instructions telling a computer what to do and when to do it. Algorithmic trading is a new use of Big Data in finance. The theory behind algorithmic trading is that a computer is set up with algorithms giving defined rules and parameters on when to trade or sell. Computers can scan through stocks and pick out stocks that have dropped or risen in price to buy or sell at the precise time to ensure optimal earnings.
Through this process investors are learning how to rely on these algorithms to make trading decisions and act much quicker than any human can. Using computers also takes the human emotion element out of the equation, leaving objective data to make decisions. Although this sounds like an intriguing way to make money, one must also be very cautious when trusting a computer with their money. Investors are encouraged to learn coding to make their own customized algorithms and systems that have set perimeters and conditions. This would be the only way to securely trade without a high risk of a possibly devastating malfunction.
This trading process is just another way Big Data is revolutionizing the financial industry. To learn other ways Big Data is influencing the Finance industry make sure you read Business Optimization, Customer Satisfaction and ROI.
by Stephanie Rabinowotz | Dec 4, 2015 | Health Care, Save With Data
We have all been there- that frustrating process of trying to find a new doctor that fits your needs. Many times people get placed on an up to four months waiting list to get an introductory visit with a new doctor. This is absurd having to wait months just to meet a doctor and not know if you are even going to like them.
There us a new app out there that is helping people with this issue. The free healthcare app called Amino allows people to research doctors in a way we have never seen before. This healthcare app takes big data from insurance claims and blocks out the personal information, leaving just information about doctors and their practices. Amino tracks doctors like they are athletes and keeps very accurate stats on each one of them. Amino allows you to see how many patients doctors see a day, the amount of tests they run and what they specialize in based on the number of times they have practice that particular skill and its success rate.
This new healthcare app can even show you doctors that have the most experience working with people who show the same symptoms or have the same healthcare issues as you do. Amino is making it extremely convenient for the general population to be matched with a doctor that will best be able to provide them with the health care they need.
Check out some other ways Big Data is revolutionizing Health Care in this great article!
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