FROM BIG DATA TO BIG BUSINESS

| July 5, 2016

article image
Big Data literature abounds; this is a sure sign that Big Data’s importance is strongly felt by the market as a whole and across the world. However, even in cases where documentation is of high quality, it is usually mostly descriptive in nature and focused on exaggerated, near-apocalyptic concerns associated with the exponential growth in data and data sources.

Spotlight

FirstWatch

Real-time & Mobile, FirstWatch helps manage Critical Data, anytime, anywhere! FirstWatch is a web based, real-time data analysis and Dashboard software system which allows authorized users to drill-down into Charts, Graphs and Maps featuring detailed statistical trends, patterns and geographic clusters of incident information, all based on user-defined criteria. FirstWatch is used everyday for Situational Awareness, Homeland Security, Public Health Surveillance, as well as for Operational and Performance monitoring / quality improvement for Public Safety (911, EMS, Fire & Law Enforcement) teams.

OTHER ARTICLES

Predictive analytics vs AI Why the difference matters

Article | February 10, 2020

There are few movie scenes I can recall from my childhood, but I vividly remember seeing the 1968 Stanley Kubrick sci-fi movie 2001 A Space Odyssey in 1970 with my older cousin. What stays with me to this day is the scene where astronaut Dave asks HAL, the homicidal computer based on artificial intelligence (AI), to open the pod bay doors. HAL's eerie reply: I'm sorry, Dave. I'm afraid I can't do that.In that moment, the concept of man vs. machine was created, predicated on the idea that machines created by man and using AI could (eventually) defy orders, position themselves in the vanguard, and overthrow humankind. Fast forward to today. Within the information governance space, there are two terms that have been used quite frequently in recent years analytics and AI. Often they are used interchangeably and are practically synonymous.

Read More

Can you really trust Amazon Product Recommendation?

Article | January 28, 2021

Since the internet became popular, the way we purchase things has evolved from a simple process to a more complicated process. Unlike traditional shopping, it is not possible to experience the products first-hand when purchasing online. Not only this, but there are more options or variants in a single product than ever before, which makes it more challenging to decide. To not make a bad investment, the consumer has to rely heavily on the customer reviews posted by people who are using the product. However, sorting through relevant reviews at multiple eCommerce platforms of different products and then comparing them to choose can work too much. To provide a solution to this problem, Amazon has come up with sentiment analysis using product review data. Amazon performs sentiment analysis on product review data with Artificial Intelligence technology to develop the best suitable products for the customer. This technology enables Amazon to create products that are most likely to be ideal for the customer. A consumer wants to search for only relevant and useful reviews when deciding on a product. A rating system is an excellent way to determine the quality and efficiency of a product. However, it still cannot provide complete information about the product as ratings can be biased. Textual detailed reviews are necessary to improve the consumer experience and in helping them make informed choices. Consumer experience is a vital tool to understand the customer's behavior and increase sales. Amazon has come up with a unique way to make things easier for their customers. They do not promote products that look similar to the other customer's search history. Instead, they recommend products that are similar to the product a user is searching for. This way, they guide the customer using the correlation between the products. To understand this concept better, we must understand how Amazon's recommendation algorithm has upgraded with time. The history of Amazon's recommendation algorithm Before Amazon started a sentiment analysis of customer product reviews using machine learning, they used the same collaborative filtering to make recommendations. Collaborative filtering is the most used way to recommend products online. Earlier, people used user-based collaborative filtering, which was not suitable as there were many uncounted factors. Researchers at Amazon came up with a better way to recommend products that depend on the correlation between products instead of similarities between customers. In user-based collaborative filtering, a customer would be shown recommendations based on people's purchase history with similar search history. In item-to-item collaborative filtering, people are shown recommendations of similar products to their recent purchase history. For example, if a person bought a mobile phone, he will be shown hints of that phone's accessories. Amazon's Personalization team found that using purchase history at a product level can provide better recommendations. This way of filtering also offered a better computational advantage. User-based collaborative filtering requires analyzing several users that have similar shopping history. This process is time-consuming as there are several demographic factors to consider, such as location, gender, age, etc. Also, a customer's shopping history can change in a day. To keep the data relevant, you would have to update the index storing the shopping history daily. However, item-to-item collaborative filtering is easy to maintain as only a tiny subset of the website's customers purchase a specific product. Computing a list of individuals who bought a particular item is much easier than analyzing all the site's customers for similar shopping history. However, there is a proper science between calculating the relatedness of a product. You cannot merely count the number of times a person bought two items together, as that would not make accurate recommendations. Amazon research uses a relatedness metric to come up with recommendations. If a person purchased an item X, then the item Y will only be related to the person if purchasers of item X are more likely to buy item Y. If users who purchased the item X are more likely to purchase the item Y, then only it is considered to be an accurate recommendation. Conclusion In order to provide a good recommendation to a customer, you must show products that have a higher chance of being relevant. There are countless products on Amazon's marketplace, and the customer will not go through several of them to figure out the best one. Eventually, the customer will become frustrated with thousands of options and choose to try a different platform. So Amazon has to develop a unique and efficient way to recommend the products that work better than its competition. User-based collaborative filtering was working fine until the competition increased. As the product listing has increased in the marketplace, you cannot merely rely on previous working algorithms. There are more filters and factors to consider than there were before. Item-to-item collaborative filtering is much more efficient as it automatically filters out products that are likely to be purchased. This limits the factors that require analysis to provide useful recommendations. Amazon has grown into the biggest marketplace in the industry as customers trust and rely on its service. They frequently make changes to fit the recent trends and provide the best customer experience possible.

Read More

Straight to the Top: Why Incorta Beats Top Cloud Vendors in Dresner Advisory’s 2020 Market Study

Article | March 19, 2020

Business agility is the name of the game in 2020. Last year, the US-China trade wars gave business leaders around the world a preview of what it looks like when change and uncertainty become the new normal in the global economy—and for those caught flatfooted, it wasn’t pretty. Here we are nearly one year later and the world has changed dramatically once again. The trade war fiasco? That was just a dress rehearsal compared to what we are living through today with the recent outbreak of COVID-19. At times like these, few things matter more than having visibility into and the freedom to innovate with data to address the necessary business agility.

Read More

Why Data Science Needs DataOps

Article | March 31, 2020

DataOps helps reduce the time data scientists spend preparing data for use in applications. Such tasks consume roughly 80% of their time now.We’re still hopeful that the digital transformation will provide the insights businesses need from big data. As a data scientist, you’re probably aware of the growing pressure from companies to extract meaningful insights from data and find the stories needed for impact.No matter how in-demand data science is in the employment numbers, equal pressure is rising for data scientists to deliver business value and no wonder. We’re approaching the age where data science and AI draw a line in the sand for which companies remain competitive and which ones collapse.One answer to this pressure is the rise of DataOps. Let’s take a look at what it is and how it could provide a path for data scientists to give businesses what they’ve been after.

Read More

Spotlight

FirstWatch

Real-time & Mobile, FirstWatch helps manage Critical Data, anytime, anywhere! FirstWatch is a web based, real-time data analysis and Dashboard software system which allows authorized users to drill-down into Charts, Graphs and Maps featuring detailed statistical trends, patterns and geographic clusters of incident information, all based on user-defined criteria. FirstWatch is used everyday for Situational Awareness, Homeland Security, Public Health Surveillance, as well as for Operational and Performance monitoring / quality improvement for Public Safety (911, EMS, Fire & Law Enforcement) teams.

Events