Time series analysis is a form of regression analysis that deals with the statistical inference and prediction of trends (trend extrapolation). A time series is a sequence of observations ordered chronologically. They are typically not in a series (i.e. there will not be an increasing order to the numbers), but because of the way they were ordered (typically by date) it is possible for them to be … [Read more...]
Marketing mix modeling (MMM) : Features and Implementation
Marketing mix modeling (MMM) is an analytical technique used to estimate the effectiveness of each element in a company’s marketing mix. The model uses historical sales data to identify relationships between marketing inputs and outputs, and then uses these relationships to predict the sales response to changes in the marketing mix. The common features of marketing mix … [Read more...]
Top 5 Tips for Choosing an Intelligent Search Solution for Your Organisation
Intelligent search has become such an essential tool for modern organizations. Its AI capabilities make it easier for users to find the information they are searching for in any digital database. The solution combines several technologies to interpret queries and provide more relevant search results. But what exactly is an intelligent search? An intelligent search is an AI-powered search that … [Read more...]
Why Data Management is so Important in a Business
Data management is the process of ensuring that data is accurate and up-to-date. It includes tracking, organizing, and controlling information. Data management is also known as "information governance" or "data governance". A solid data management strategy can help a business realize the value of all its data and avoid problems that come from poor data quality. Data … [Read more...]
What Format Should You Use for Dates When Recording and Analyzing Data?
If you ask anyone, they will probably tell you that dates are the simplest data formats they have ever worked with. This is because they use dates all the time in different documents and applications, and they (dates) have never caused any confusion. However, when they start digging deeper into dates or even time formats, they realize that dates are more complicated than they initially thought. … [Read more...]
Data Architecture: What You Need To Know
Data architecture is a sub-discipline of IT architecture. The data architecture takes a holistic view of fundamental structures and processes related to data or information. In this article, we'll take a look at what it's all about and review some common mistakes people make when working with data architecture! The data architect is responsible for defining the future situation, alignment … [Read more...]
Big Data in Sports
Big Data is a very simplified concept that refers to an ensemble of data that cannot be stored in traditional databases because of their complexity, speed, and most of all, the volume of information. The amount of data known as big data needs other types of storage that are mostly organized in cloud services and other platforms of storage. A common mistake is thinking about Big Data as a generic … [Read more...]
Why You Need A Big Data Consultant
In the age of information, it's important to have access to all of the data that can be used in your business. Some companies don't take the time to think about this and that's why they don't get as much success as they could. If you want your company to grow and be successful, then you'll need big data consulting services. Understanding the data dilemma Data is growing at an … [Read more...]
How To Leverage Big Data In Social Media
It’s not news that social media marketing has become a modern and essential part of every business's marketing strategy. Through the various social media platforms, firms can reach a wider audience and engage with them. Aside from this, they can also learn more about their audience and make effective content through the metrics features that these platforms provide. However, using social media … [Read more...]
What is Data Reconciliation?
Data reconciliation in the narrow sense is the comparison of electronic data solely to detect the differences. In a broader sense, this includes the alignment of data sets with each other. After that, each of the storage media contains the same updated data. A well-known example is the comparison of address data and appointments between a handheld computer (or PDA) and a (main) computer. The … [Read more...]
Big Data in Education: Importance and Benefits
Before the Second World War, most of the time-consuming calculations were operated manually, limiting the data analysis’s potential and scales. After the War, certain post-analysis was made, and scientific computing began to progress. Each company with resources was encouraged to create original software via special formulas and algorithms, and then upload various data into the written programs. … [Read more...]
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