by Tara Buck | Sep 23, 2015 | Big Data, Business Optimization, Save With Data
What better way is there to learn about big data than listening to a podcast about it? I found a really great podcast recently that dives into all of the different aspects and current issues that we are dealing with when it comes to big data. There are also podcasts that help us understand the best ways to save and make money with your data.
Their most recent podcast, 5 Lessons About Big Data brought some interesting facts to light. These 5 lessons can help you to leverage the data that you already have, and ultimately, save you money:
- Use big data to make information transparent.
- Create and store more transactional data in digital form.
- Big data allows for the segmentation of customers so that companies can better tailor products and services.
- Sophisticated analytics improve decision making, minimize risks, and ascertain valuable insights that would otherwise remain hidden.
- Big data can be used to develop the next generation of products and services.
The next step is for you to use all of these lessons to add value to your data and your company.
Listen to the full podcast here!
by Stephanie Rabinowotz | Sep 18, 2015 | Big Data
The industry of 3D Printing is on the rise and is only going to continue to thrive as businesses discover their need for it. Like Big Data, 3D printing will be one of those things that can infiltrate and enhance any industry. From shoe inserts to breathable, water proof casts, 3D printing has infinite possibilities. But what will we do with all of the Data produced by 3D printing? Could Big Data be your “in” with the 3D printing business? Listen to this Podcast to find out!
3D Printing and Big Data!
by Stephanie Rabinowotz | Sep 14, 2015 | Big Data
It is that time of year, Football Season! As fans gear up for a spirited Fall filled with beer, food and trash talking, others are focused on their fantasy leagues. Fantasy football has become a huge part of the football industry and continues to grow in popularity each season.
Many may wonder if there is strategy to fantasy football and if so, what is it? This really depends, some people draft based off of player stats from the previous year, professional predictions, or who is on their favored team. It is important to draft and play with a strategy in mind as most of these leagues can have a big payout.
As technology continues to advance, many sports fans are turning to draft optimizers to help them choose the best players. What are these optimizers and how do they help? These sites are homes for football Big Data, mass amounts of data about season player stats, professional predictions, injury reports, and preseason stats are all collected and analyzed to pump out predictions for a player’s success.
As discussed many time before Big Data = Information! The more informed you are about a certain player allows you to make smarter draft picks and set up a kick ass line up each week. Big Data helps people avoid drafting a star player who just suffered a season ending ACL tear earlier that week.
Big Data used in fantasy football leads to big payouts. So what are you going to do, pick all Broncos players because they are your favorite team or use the information at hand to form an unstoppable line up?
Find out more on how Big Data is changing our everyday decisions in this short article!
by Tara Buck | Sep 11, 2015 | Big Data, Business Transformation, Predictive Analytics
Big Data is making its way through every industry possible, including the hotel industry. This industry is another perfect example of how effective use of analytics can dramatically change how a business is run. There are many types of data being collected including video, audio, and web data, and there are huge volumes of each. However, many hotels are carrying all of this data with them, but not acting upon a majority, if any of it.
Many hotels gather loyalty information about their guests, but fail to take it a step forward. This, to me, is the perfect opportunity for any and all forms of predictive analytics.
Hoteliers could exploit their data and deepen their knowledge of guests in order to develop a more granular understanding of segment behavior, needs, and expectations; identify profitable customer segments and their buying preferences; and identify opportunities to attract new guests.
In this industry, understanding guest preferences, purchase behavior, and profit potential can dramatically increase brand loyalty and wallet share of their most valuable guests.
One key factor that hotels must be aware of throughout this process is what guests they are targeting. Targeting the frequent guests who are likely to take advantage of other hotel amenities would generate much more overall profit than targeting the guests that are just stopping by. By marketing to their most loyal guests preferences, hotels will find themselves staying ahead of trends, setting strategies, and achieving their goals. This will then lead to happier guests, and more money in the bank.
And look at that…all of that can be done with the right analysis of data!
by Stephanie Rabinowotz | Sep 9, 2015 | Business Transformation
As the average American I hear gas and oil and automatically picture money flying out of my wallet. Assuming that this is the mindset of most of our population, it is hard to feel bad for the oil and gas companies when we hear they are losing money. The problem is that most people don’t look at both sides of the situation- the lower our gas prices become, the more employees that being laid off in the oil and gas industry.
The oil and gas companies have been living in luxury for a number of years, but now that the price of gas per barrel is dropping the industry must be more cautious in the way they operate. The big oil and gas companies are now turning to Big Data to make their operations more efficient.
Startups such as Tachyus are jumping at the opportunity to develop models that will aid in the oil and gas industry. Tachyus has a data model that is helping oil production increase by 20%-30%. These data models can predict mechanical failures and stimulate specific wells by calculation optimal settings such as water injection rates. As oil and gas companies acquire more information about each unique well, they will be able to specialize maintenance, allowing each well to produce at its full potential, while also preventing spills.
As the oil and gas companies learn to operate more efficiently they will hopefully be able to create more jobs again and no longer have to make any more cuts.
Let us know what you think, this is an oil and gas conversation… I know you have an opinion!
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