Analytics (38)

Big Data is Key to This Year's Retail Success  

With the closures of stores and bankruptcies caused by the pandemic, the future seems bleak for the retailers as it is for other industries. It raises the question of what steps retailers need to take to tackle the endless challenges lying ahead. This can only be answered by adopting technology. According to a study by Snowflake Computing back in 2018 and Harvard Business Review, companies that make data-driven decisions have the best chance to survive the challenges in the retail market and remain in the business longer. This makes big data a fortune-changer when it comes to the retail industry.


Big Data is Changing the Retail Industry  

For years, many people have believed that great marketing is an art. However, this seems to be changing with the entry of big data into the equation. Big data has introduced a scientific element into marketing campaigns. With this, smart marketers now rely more on data to inform their decisions concerning product design, tests, and development strategies. With the increasing demand for personalization by customers, this is a welcome relief for companies and marketers who want to understand exactly what the customer wants. The rising demand for online stores makes big data even more necessary to improve the online shopping experience. So, how exactly is big data changing the retail industry? Here are a few areas, some of which you might have already heard of before.


Data Analytics Trends For Employees  

2021 is challenging yet another exciting year for human resource management. Like last year, we continue to see the critical nature of data and data-driven HR in maintaining day-to-day operations in organizations in the COVID-19 era. While last year might have been interesting, experts warn that you will see even exciting trends this year. The good news is that these trends create amazing technologies for small businesses, individuals, and startups, that were never there before. According to the Gartner report of October 2020, big data analytics will help organizations plan ahead and make critical decisions urgently to deal with the pandemic and its effects. Here are other trends that you need to pay attention to in 2021.


Concentrate on these Main Areas of Your Data Analytics

Businesses quickly discover the importance of big data analytics in their operations. They have embraced ideas behind data analytics and associated technologies and even technologies such as machine learning and artificial intelligence. With the focus now shifted to online after the effects of the coronavirus pandemic, enterprises are modernizing their analytics strategies, testing new technologies and tools and training staff, or acquiring new talent to meet the new realities. As the pandemic continues, many organizational leaders are thinking of how they should prepare their data analytics for 2021. Here are areas of data analytics that you need to concentrate on as we begin the new year.


Big Data Consolidation is Dependent on These Four Actions

Over the past few years, big data has evolved from a boardroom buzzword to a force that is now taking the world by storm. A few years ago, business leaders lacked ways to harness vast amounts of data and analyze it to get information. However, big data has become a game-changer, with administrators and business leaders now analyzing and getting knowledge about customers, business processes and daily operations. Although a point of success within a business, big data presents many challenges that must be addressed for success to be realized in big data initiatives.


Covid-19 Has Changed the Global Supply Chain

After almost a year of coronavirus pandemic, it is apparent that the pandemic has significantly strained the industry in a manner that no one has ever seen before. With the pandemic, it has emerged that the supply chain is the backbone of modern businesses. Although these challenges might have impacted the supply chain and logistics industries now, it will ultimately result in more resilience in the future. Here are some changes that the coronavirus pandemic has introduced to the global supply chain:


The Home of Former Florida Data Scientist Rebekah Jones was Raided Last Week

“It's time to speak up before another 17,000 people are dead. You know this is wrong. You don't have to be a part of this. Be a hero. Speak out before it's too late” read the text message that was sent to 1,750 state workers through the state’s emergency management system last month.


The Importance of Story Telling in Data Analytics

The most successful data analysts are able to take key data and weave it into a story to convey their point to stakeholders. This is often called a “data story” and is used by analysts who are presenting to an audience who may not understand the intricacies of data. They do this by presenting their findings visually – which is easier for most people to comprehend.  Often time this is through graphs, charts, or other visualization tools like infographics. But is a data story really that important in the world of statistics?


Can Big Data Prevent Fraud

India is exploring a way for the government to use big data to crack down on tax fraud, reports Economic Times. 

Union Finance Secretary Ajay Bhushan Pandey on Friday hinted at the use of Big Data to track major financial transactions, under-reporting of income and tax frauds in the country, even as he assured that the government would make the taxation process fearless and pain-free for honest taxpayers.


BYU Introduces an Analytics Course focusing on Sports Statistics

Brigham Young University is exploring how statistics coincide with sports in their newest data class taught by Zach Knowlton, a Senior Data Scientist at Progressive Leasing and now an Adjunct Professor at the university.


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