Big data

Big data (85)

Big Data Changes Retail

Even before the current pandemic, the retail industry was going through a rapid transformation. The changes in this industry have significantly affected shopping behavior and have had massive changes in the retail sector. According to a survey conducted in 2019, 92 percent of the retail leaders were found to view reinventing the customer experience as the top priority. However, with the new reality of the COVID-19 pandemic, we have all been forced to accommodate the new changes. One of the critical changes that can be seen is the adoption of technology that includes big data strategies, artificial intelligence and machine learning. These technologies are used to understand the needs of the customers better and respond to them accordingly. Big data gives retailers ways to differentiate their brands through increased personalization for better customer service and demand forecasting. Here are some ways that big data is changing the retail sector.


Data Errors Affect Outcomes  

The biggest challenge to AI is the errors, most of which are associated with labelling. According to a new study by MIT, the ten most cited datasets in AI are full of label errors, which distorts the understanding of the field. Data sets are a vital element in AI research. However, some data sets are more crucial than others. These sets are those used by the researchers to develop and evaluate machine-learning models, which is a way of tracking the capabilities of artificial intelligence and how it has advanced over time. For example, the canonical image recognition data set, ImageNet, is credited for kicking off the modern AI revolution. On the other hand, MNIST, which compiles images of handwritten numbers between 0-9, is another crucial dataset, together with those that test models trained to recognize audio, text and hand drawings.


Is Your Dataset Big or Small?  

 We are now in the era of big data, which is the topic we hear during business or IT talks. Although many people talk about big data, most do not understand what big data is and how it influences business strategy. While many people know about big data, most have little understanding of big data’s small sibling, known as small data. Most organizations understand that data is vital for business. However, only a handful of them knows the relationship between small and big data. Worse yet, some think phrases “data” and “big data” carry the same meaning. Like big data, small data is also crucial for business. They both have the power to influence organizations. Here is the difference between the two.


Do You Consider Your Data Process a "Dumpster Fire"? Research Shows You're Not Alone

While the term “big data” was coined in 1990 – it didn’t become mainstream until the early 2000’s. It took even longer for companies to start adopting it in their decision-making policies - utilizing it to visualize success and verify that the programs they were investing in were turning out positive results.


Make Sure Your Big Data Team Includes the Right Members  

Some of the world's biggest and most successful companies have one thing in common; they have embraced data-driven decision-making. This is the step that has made them successful than others and is perhaps one of the reasons they have better customer satisfaction than the others. While big data is important as part of the decision-making process, it is not the only thing. There is a need for a comprehensive combination of the big data processes. As a leader in an organization, make sure you have a big data team that includes the right members. Although every organization may have a different big data team structure, here are some of the most important team members and what they do.


Will 2022 be Any Different from 2021 for Big Data?

Big data and analytics have proven to be an important piece in the competitiveness of many organizations. Regardless of the early success stories, it is still in its early stages, meaning a lot is still in the pipeline. Thanks to the increasing adoption and investment in this technology, it is fast evolving into one of the most useful technologies in the business landscape. Here are some trends in big data that might shape 2022.


U.K. Publishes 10-Year Plan to Become the Next AI "Superpower"

The U.K. government recently unveiled their 10-year plan to rival China and the United States as the “AI superpower.” In a statement - Chris Philp, a minister of the Department for Digital, Culture, Media and Sport said, “Today we’re laying the foundations for the next ten years’ growth with a strategy to help us seize the potential of artificial intelligence and play a leading role in shaping the way the world governs it.”


T-Mobile Suffers 5th Data Breach in 3 Years

No this isn’t a case of déjà vu – T-Mobile suffered another data breach – their fifth in just three years. According to Forrester Research security and risk analyst Allie Mellen this is “the worst breach” to date.  In a published statement on August 20, 2021, the popular wireless carrier company announced that hackers were able to steal sensitive data of over 40 million customers who applied for credit with the company. This includes both social security numbers (SSN) as well as drivers license numbers.  


Big Data Pandemic Help  

As the world continues battling the COVID-19 pandemic, getting the right data needed to fight this disease is a matter of life and death. Governments and responsible agencies are running against time to find the source of information that will help them trace the potentially infected persons and their contacts. However, with a large amount of information from different sources every day, it is hard to determine which is correct from what is not. This is where big data come into place. Big data gives governments insights that allow them to take preventive action against the pandemic. Here is how big data is helping governments and other agencies in the fight against COVID-19.


Do You Need a Third Pfizer Shot to Protect You Against Covid-19?

In the continued race to stop the spread of Covid-19; many governments, doctors, and scientists around the world are pondering whether or not a booster vaccine is necessary for defeating the virus. Covid-19 began to make it’s way around the world in December of 2019. A year and a half later, it has infected a total of 197 million people and the cause for over 4 million deaths worldwide.


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