Implementing Big Data and AI: Best Practices and Strategies for 2023

Implementing Big Data and AI: Best Practices and Strategies for 2023
Discover the latest strategies and best practices for implementing big data and AI into your organization for 2023. Gain insights on leading Big Data and AI solution providers to drive business growth.

Contents

1  Establishing a Relationship between Big Data and AI
2  Importance of Big Data and AI in 2023
3  Key Challenges in Implementing Big Data and AI
4  Best Practices and Strategies for Big Data and AI Implementation
5  Top AI and Big Data Companies to Look For in 2023
6  Conclusion

1.  Establishing a Relationship between Big Data and AI

The relationship between AI and big data is mutually beneficial, as AI requires vast amounts of data to enhance its decision-making abilities, while big data analytics benefits from AI for superior analysis. This union enables the implementation of advanced analytics, such as predictive analysis, resulting in the optimization of business efficiency by anticipating emerging trends, scrutinizing consumer behavior, automating customer segmentation, customizing digital campaigns, and utilizing decision support systems propelled by big data, AI, and predictive analytics. This integration empowers organizations to become data-driven, resulting in significant improvements in business performance.

2.  Importance of Big Data and AI in 2023

In the year 2023, it is anticipated that the utilization of big data analytics and artificial intelligence (AI) will profoundly impact diverse industries. The investment in big data analytics will be primarily driven by the need for data compliance, security, and mobilization, ultimately aiming to achieve real-time analysis. Therefore, businesses seeking to excel in this area must be prepared to adopt cloud technology and make significant advancements in computing power and data processing methods.

Recent research indicates that a combination of AI and big data can automate nearly 80% of all physical work, 70% of data processing work, and 64% of data collection tasks.

(Source: Forbes)

The banking, retail, manufacturing, finance, healthcare, and government sectors have already made substantial investments in big data analytics, which have resulted in the forecasting of trends, enhancing business recommendations, and increasing profits.

In addition, AI technology will make significant advancements in 2023, including democratization, making it accessible to a broader user population. This shift will enable customers to wield authority, and businesses will be able to use AI to better meet their specific and individualized business requirements. Finally, a significant shift likely to be witnessed in the AI field in 2023 is the move to a more industrialized, embedded type of architecture, where actual business users may begin utilizing algorithms.

According to a recent study, 61% of respondents believe that AI will have a significant impact on their industry within the next three to five years.

(Source: Deloitte Insights Report)

3.  Key Challenges in Implementing Big Data and AI

97.2% of business executives say their organizations are investing in big data and AI projects.

These executives cite their desire to become “nimble, data-driven businesses” as the reason for these investments, as 54.4% say that their companies’ inability to do this was the biggest threat they faced.

In addition, 79.4% say they’re afraid that other, more data-driven companies will disrupt and outperform them.

(Source: Zippia)

Implementing big data analytics and artificial intelligence (AI) presents various challenges that businesses must tackle to realize their full potential. One such obstacle is the intricate nature of the data, which could be either structured or unstructured and necessitate specialized tools and techniques for processing and analysis. Moreover, companies must ensure data quality, completeness, and integrity to facilitate accurate analysis and decision-making.

Another substantial challenge in implementing big data and AI is the requirement for skilled personnel with expertise in data science, machine learning, and related technologies. To stay up-to-date on the latest tools and techniques, companies must invest in ongoing training and development programs for their employees. Ethical and legal concerns surrounding data privacy, security, and transparency must also be addressed, especially after recent data breaches and privacy scandals.

Integrating big data and AI into existing IT systems can be a challenging and time-consuming process that necessitates careful planning and coordination to ensure smooth integration and minimize disruption. Lastly, the high cost of implementing these technologies can be a significant barrier, especially for smaller businesses or those with limited IT budgets. To overcome these challenges, companies must be strategic, prioritize use cases, and develop a clear implementation roadmap while leveraging third-party tools and services to minimize costs and maximize ROI.

4.  Best Practices and Strategies for Big Data and AI Implementation

24% of companies use big data analytics. While 97.2% of companies say they’re investing in big data and AI projects, just 24% describe their organizations as data-driven.

(Source: Zippia)

4.1  Building a Data Strategy

One of the biggest challenges in building a data strategy is identifying the most relevant data sources and data types for the organization’s specific business objectives. The sheer volume and diversity of data available can further complicate this.

The key to addressing this challenge is thoroughly assessing the organization’s data assets and prioritizing them based on their business value.

This involves:
  • Identifying the key business objectives and
  • Determining which data sources and data types are most relevant to achieving those objectives


4.2  Implementing a Data Governance Framework

Establishing a data governance framework involving all stakeholders is crucial for ensuring agreement on data quality, privacy, and security standards. However, implementing such a framework can be daunting due to the divergent priorities and perspectives of stakeholders on good data governance. So, to overcome this challenge, clear guidelines and processes must be established:

  • Creating a data governance council
  • Defining roles and responsibilities
  • Involving all stakeholders in the development and implementation of guidelines
  • Data quality management, privacy, and security processes should be established to maintain high data governance standards

Organizations can improve the effectiveness of their data governance initiatives by aligning all stakeholders and ensuring their commitment to maintaining optimal data governance standards.


4.3  Leveraging Cloud Computing

It is essential to carefully select a cloud provider that aligns with the organization's security and compliance requirements. In addition, robust data security and compliance controls should be implemented:

  • Establishing data encryption and access controls
  • Implementing data backup and recovery procedures
  • Regularly conducting security and compliance audits

By following these practices, organizations can ensure their big data and AI projects are secure and compliant.


4.4  Developing a Data Science and AI Roadmap

The obstacles to developing a data science and AI roadmap lie in identifying the most pertinent use cases that cater to the specific business objectives of an organization. This difficulty is further compounded by the potential divergence of priorities and perspectives among various stakeholders concerning the definition of a successful use case. Hence, it is imperative to establish unambiguous guidelines for identifying and prioritizing use cases that align with their respective business values.

This entails:
  • Identifying the key business objectives
  • Carefully ascertaining which use cases are most pertinent to realizing those objectives
  • Meticulously delineating the success criteria for each use case


4.5  Leveraging Established Agile Methodologies

Leveraging well-established agile methodologies is critical in successfully implementing large-scale big data and AI projects.

  • By defining a precise project scope and goals, prioritizing tasks, and fostering consistent communication and collaboration, enterprises can effectively execute AI and big data analytics initiatives leveraging agile methodologies.
  • Such an approach provides teams with a clear understanding of their responsibilities, facilitates seamless communication, and promotes continuous improvement throughout the project lifecycle, resulting in a more efficient and effective implementation.


4.6  Prototyping Through Sandboxing

Establishing clear guidelines and processes is crucial to overcome the challenge of creating prototypes through sandboxing that are representative of the production environment and can meet the organization's requirements.

It includes:
  • Defining the scope and objectives of the prototype,
  • Meticulously selecting the appropriate tools and technologies
  • Guaranteeing that the prototype is an authentic reflection of the production environment

Additionally, conducting thorough testing and evaluation is necessary to ensure that the prototype can be scaled effectively to meet the organization's needs.


5.  Top AI and Big Data Companies to Look For in 2023


H2O.ai

H2O.ai is a leading provider of artificial intelligence (AI) and machine learning (ML) software. It provides a platform for businesses to use artificial intelligence and data-driven insights to drive innovation and growth. The software offers a suite of tools and algorithms to help users build predictive models, analyze data, and gain insights that inform business decisions. With a user-friendly interface and a robust set of features, H2O.ai is a valuable tool for businesses looking to leverage the power of machine learning to stay ahead of the competition.


ThoughtSpot

ThoughtSpot is a leading search and AI-driven analytics platform that enables businesses to quickly and easily analyze complex data sets. The platform offers a range of features, including advanced analytics, customizable visualizations, and collaborative capabilities. It is designed to make data analytics accessible to anyone within an organization, regardless of technical expertise. The platform is also highly customizable, allowing businesses to tailor it to meet their specific needs and integrate it with their existing data infrastructure.


Treasure Data

Treasure Data is a cloud-based enterprise data management platform that helps businesses collect, store, and analyze their data to gain valuable insights. Its platform includes a suite of powerful tools for data collection, storage, processing, and analysis, including a flexible data pipeline, a powerful data management console, and a range of analytics tools. The platform is also highly scalable, capable of handling massive amounts of data and processing millions of events per second, making it suitable for businesses of all sizes and industries.


Denodo

Denodo is a leading data virtualization software company that provides a unified platform for integrating and delivering data across multiple sources and formats in real time. The platform offers unmatched performance and unified access to a broad range of enterprise, big data, cloud, and unstructured sources. It also provides agile data service provisioning and governance at less than half the cost of traditional data integration. In addition, its data virtualization technology simplifies the complexity of data sources and creates a virtual layer of data services accessible to any application or user, regardless of the data’s location or format.


Pendo.io

Pendo.io is a leading cloud-based platform that provides product analytics, user feedback, and guidance for digital products. It allows businesses to make data-driven decisions about their products and optimize their customer journey. The platform empowers companies to transform product intelligence into actionable insights rapidly and at scale, enabling a new generation of businesses that prioritize product development.


TigerGraph

TigerGraph is a graph database and analytics platform that allows businesses to gain deeper insights and make better decisions by analyzing connected data. It is designed to handle complex data sets and perform advanced graph analytics at scale. The platform offers a range of graph analytics algorithms that can be applied to a variety of use cases, including fraud detection, recommendation engines, supply chain optimization, and social network analysis.


Solix Technologies, Inc.

Solix Technologies, Inc. is a leading big data management and analysis software solution provider that empowers data-driven enterprises to achieve their Information Lifecycle Management (ILM) goals. Its flagship product, Solix Big Data Suite, provides an ILM framework for Enterprise Archiving and Enterprise Data Lake applications utilizing Apache Hadoop as an enterprise data repository. In addition, the Solix Enterprise Data Management Suite (Solix EDMS) helps organizations implement database archiving, test data management, data masking and application retirement across all enterprise data.


Reltio

Reltio is a leading provider of cloud-based master data management (MDM) solutions that enable organizations to create a unified view of their data across all sources and formats. The platform combines MDM with big data analytics and machine learning to provide a single source of truth for data-driven decision-making. The solution offers a range of features, including data modeling, data quality management, data governance, and data analytics.


dbt Labs

dbt Labs is a cloud-based data transformation software platform that helps analysts and engineers manage the entire analytics engineering workflow, from data ingestion to analysis. The platform enables users to transform and model raw data into analysis-ready data sets using a SQL-based language. With its modular and scalable approach, dbt Labs makes it easier for data teams to collaborate and manage their data pipelines.


Rockset

Rockset is a real-time indexing database platform that allows businesses to run fast queries on data from multiple sources without needing to manage the underlying infrastructure. It supports various data types, including structured, semi-structured, and nested data, making it flexible and versatile. In addition, the serverless platform is built on a cloud-native architecture, making it easy to scale up or down as needed. With Rockset, users can build real-time applications and dashboards, perform ad hoc analysis, and create data-driven workflows.


6. Conclusion

The relationship between big data and AI is mutually beneficial, given the fact that AI requires copious amounts of data to refine its decision-making capabilities, while big data analytics derives immense value from AI for advanced analysis. As a result, the integration of big data analytics and AI is projected to profoundly impact diverse industries in 2023. Nevertheless, adopting these technologies poses multifarious challenges, necessitating businesses to adopt a strategic approach and develop a comprehensive implementation roadmap to optimize ROI and minimize expenses. Ultimately, the successful implementation of big data and AI strategies can enable organizations to become data-driven, culminating in substantial improvements in business performance.

Spotlight

Crmt

CRMT is a leading regional consulting company specializing in Corporate Performance Management, Business Intelligence, Data Warehousing, Data Integration and Master data Management. We provide end to end services from Data Architecture, Implementation, Project Management, Long Term Support, and Training. Our competitive advantage is derived from our extensive team of experts with highest level of knowledge and competence in effort to provide our customers the most innovative, reliable, and consistent results on every project. CRMT has an enviable track record of client success due to our unique ability to deliver solutions on time, and within a budget.

OTHER ARTICLES
Big Data Management, Data Science, Big Data

Top Text Analytics Software Providers That Are Powering Businesses

Article | May 16, 2023

With precise sentiment and text analysis, businesses amplify their initiatives to drive high ROI. Learn how leading text analytics companies help businesses ensure customer-centric strategies. Contents 1. Text Analytics as a Core Component of Strategic Decision-making 2. Understanding the Approaches and Techniques of Text Analytics 3. Key Advantages of Text Analytics for B2B Businesses 4. Top Text Analytics Software Providers Enabling Business Success 4.1 Displayr 4.2 Chattermill 4.3 Forsta 4.4 DataWalk 4.5 Canvs AI 4.6 Kapiche 4.7 Acodis 4.8 Lumoa 4.9 Wonderflow 4.10 Thematic 5. Wrap Up 1. Text Analytics as a Core Component of Strategic Decision-making Recent strides in machine learning,natural language processing (NLP), and big data technologies have tremendously strengthened the applications and capabilities of text analytics, turning it into a powerful decision-making tool for businesses. Text analytics software utilizes machine learning to extract crucial information from vast amounts of unstructured text data, enabling companies to leverage actionable insights, fine-tune business strategies, and boost profitability. Correspondingly, with text analytics, businesses can retrieve critical details like keywords or company information from free-form texts like emails. It can further be used to classify unstructured texts, such as customer feedback or reviews, based on themes, sentiments, and patterns. For instance, by analyzing customer sentiment on social media, businesses can easily optimize their services and fine-tune their strategic initiatives for higher ROIs. Text analytics, therefore, facilitates informed decision-making by offering crucial insights to companies, empowering them to identify upcoming trends, areas of improvement, market dynamics, buyer preferences, and so on. 2. Understanding the Approaches and Techniques of Text Analytics The core strategies in text analytics aim to highlight deeper information, like patterns and trends, made visible through data visualization techniques. The quantitative insights gained by companies significantly help them make sound decisions and fine-tune their operations. Here’s a list of the prominent text analytics methods that enable prompt decision-making: Topic Modeling Technique The method involves recognizing key themes or subjects in vast text volumes or documents to retrieve relevant keywords. Such identification helps companies classify texts according to prevalent themes and additionally enables exploratory analysis. Sentiment Evaluation Reflecting the emotional tone of various non-formatted texts, including customer interactions, social media posts, and product reviews, this text analytics method focuses on sorting emotions under negative or positive categories. It further emphasizes a detailed categorization for identification, such as disappointment, anger, or confusion. Document Grouping Document grouping or clustering is another valuable text analytics technique that groups congruent documents together. This method helps companies classify large datasets and extract associated information. It is particularly beneficial for improving search results, as it augments relevance for users by grouping similar documents. Text Summarization The advantageous text summarization approach aims to simplify large texts, transforming them into shorter summaries while retaining key points or themes. Accordingly, this technique helps people and machines understand large chunks of text data with greater ease and agility. Entity Chunking Approach Also called Named Entity Recognition (NER), this natural language processing approach automatically derives structured entities from free-form texts. In other words, it classifies vital information within an unstructured text into pre-set categories such as events, organizations, places, and people. TF-IDF Technique With the Term Frequency—Inverse Document Frequency (TF-IDF) text analytics technique, companies can establish the importance of a term in the context of a document and an entire corpus. While term frequency showcases the number of times a term appears in a single document, inverse document frequency assesses the whole document collection to highlight terms with higher relevance. 3. Key Advantages of Text Analytics for B2B Businesses From ensuring the most effective marketing strategies to higher lead conversions, employing text analytics tools ushers in many benefits for B2B businesses. Some of its key advantages include: Targeted Improvements and Better User Experience By understanding open-ended comments across varied platforms, like social media, surveys, and customer service interactions, text analytics software offers vital insights into customer preferences and enables companies to optimize their strategies. It further empowers businesses to refine their existing products, make new offerings, ensure targeted enhancements, and elevate user delight. Reduced Time and Efforts Text analytics automates the retrieval of meaningful data from vast amounts of unstructured texts, significantly lessening the time and resources needed for data processing and empowering businesses to focus on innovation and critical endeavors. Customer Acquisition ​With text analytics platforms, businesses can explore raw data from points of origin like social media and emails to effectively recognize potential leads. Companies can, therefore, focus on rewarding opportunities by adequately assessing leads’ requirements and interests. Risk Handling ​B2B businesses can further leverage advanced text analytics tools to recognize and diminish risks. These tools promptly analyze and address user complaints, read market fluctuations, and cater to supplier sentiments. Expense Management ​Companies notably employ text analytics to assess textual data related to expenses, resource allotment, and procurement. Such evaluation gives them crucial insights into existing shortcomings and cost-saving opportunities, empowering decision-makers to implement cost-cutting strategies and amplify expense management. Market Intelligence ​With text analytics, businesses can understand different patterns, trends, and dynamics of the market, gaining excellent market intelligence from varied sources like news articles, social media and industry reports. Businesses can evaluate their competitors’ behavior and stay ahead of the curve by employing leading-edge technologies and optimizing their processes. Strategic Decision-Making and Increased ROIs ​Last but not least, text analytics helps businesses assimilate the latest trends and developments, rendering actionable insights to optimize their pricing and promotion strategies. Additionally, companies harness text and data analysis to boost marketing, benefitting from effective personalization and augmenting customer satisfaction to drive higher ROIs. 4. Top Text Analytics Software Providers Enabling Business Success Leading text analytics software providers efficiently empower companies to design strategic initiatives. With their advanced features and technologies, they induce enviable business success. The following list showcases some of the top text analytics companies that offer powerful platforms for reliable text data analysis: 4.1 Displayr Displayr is a transformative data analytics and reporting software provider that helps market researchers and businesses gain meaningful insights. The company’s forward-thinking platform makes intricate tasks like text analytics easy, enabling stakeholders to harness the power of information. It combines visualization, reporting, and data science to assist users in making informed decisions. With an impressive array of features, such as ML and text coding tools, responsive dashboards, and auto-updating abilities, the company strengthens varied research requirements, increasing data preciseness and reliability. It further boasts tools for user opinion analysis, brand analytics, text analytics, pricing research, and survey analysis, ensuring dependable conclusions across diverse data collections and corpora. 4.2 Chattermill A leader in customer experience (CX) intelligence, Chattermill provides actionable insights to customer support and product teams, enabling them to augment customer experiences, meet their expectations, and ensure retention. It employs leading-edge deep learning technology to automate information retrieval from extensive non-formatted customer data, such as user reviews, customer service interactions, surveys, and social media. With Chattermill, businesses can effortlessly track retention rates and leverage the sentiment analysis tool to assess opinion trends at scale. The company’s platform further helps businesses understand positivity drivers, strengthening product and pricing strategies along with brand standing. Its distinct features include its proprietary model, Lyra AI, which eliminates the gap between tactical customer feedback analysis and strategic business objectives along with an Experience-Led Growth roadmap that checks CX maturity and suggests meaningful applications. The company also offers training and promotes community engagement initiatives, enhancing members’ expertise. 4.3 Forsta At the forefront of experience and research technology, Forsta promotes a human experience (HX) approach and drives informed decision-making. The company’s platform effortlessly combines market research, customer experience, and employee experience, rendering an all-inclusive understanding of audience interactions and enabling companies to fine-tune their strategies. Notably, Forsta boasts an incredible suite of features, which includes personalization solutions, expert consultation, and advanced analytics. The company strives to augment retail businesses’ revenue by encouraging repeat purchases and maximizing conversions. With state-of-the-art tools, it further allows companies to conduct in-depth interviews and community studies, empowering them to grasp customer sentiment, transform qualitative data into actionable insights, and earn increased revenues with sound decisions. 4.4 DataWalk Employing innovative software technology, DataWalk helps users eliminate data silos and convert raw data into intelligible components, such as transactions, individuals, or events. The company caters to government agencies and commercial enterprises, facilitating data visualization, analysis, and sharing endeavors. Significantly, its leading-edge tools, like text analytics, enable users to make rational decisions by deriving actionable insights from consolidated data. Through its holistic platform, the company empowers users to analyze extensive data across different applications. Businesses can employ team-based graph analytics to identify hidden patterns and connections within varied data sources, gaining insights for strategy refinement. DataWalk further effectively ensures fraud mitigation and enhances efficiency in anti-money laundering. Its many use cases entail customer intelligence, social network analysis, analytics modernization, root cause analysis, etc. Combining machine learning with end-to-end processes, the company strongly supports entities to boost their operational efficiency and earnings. 4.5 Canvs AI Canvs AI is a premier insights platform provider specializing in analyzing open-ended texts, like audience feedback, ad tests, and customer surveys, and turning them into actionable business intelligence. The company leverages state-of-the-art artificial intelligence (AI) and NLP technologies, like text analytics, to expedite insights retrieval for leading global brands and agencies. Known for its unmatched efficiency and preciseness in gauging user sentiments, Canvs AI focuses on emotion measurement to promote sound decision-making and stronger customer relationships. Significantly, the company’s platform has an easy-to-use insights dashboard for quick data filtering and in-depth text analysis, strengthened by Boolean search capabilities. With its striking features, it helps organizations identify chief themes and sentiments within social comments, interpret colloquialisms, and leverage reliable insights. Its high-tech customization options further allow businesses to tailor emotions, codes, and topics, enabling them to customize what they want to focus on. Also facilitating multi-source data integration, Canvs AI ensures workflow integration, optimized action planning, and augmented decision-making. 4.6 Kapiche Top global companies rely on Kapiche, a pioneering feedback analytics platform provider, to analyze vast volumes of user feedback from varied sources, like support interactions and CRM systems. With its powerful text analytics solutions, the company facilitates the streamlining of data integrations, offers analysts quick and accurate insights for influential decision-making, and elevates the efficiency of CX metrics analysis. From centralizing data from multiple sources to allowing accurate evaluation of CX impacts, Kapiche helps businesses make impactful decisions. It further speeds insights extraction compared to the established practices, eliminating the need for manual tagging and intricate setups. It also promotes collaboration through tailorable dashboards and automated reporting and renders live status monitoring into user opinion dynamics, boosting operational efficiency and customer experiences. 4.7 Acodis A renowned name in the intelligent document processing (IDP) field, Acodis is transforming data management by enabling businesses to convert non-formatted documents into structured data. The company employs AI-powered data extraction to manipulate documents at scale speedily. Catering to top manufacturing, chemical, and pharmaceutical companies, Acodis augments operational efficiency by eliminating data entry tasks and offering personalized workflows. The company’s leading-edge platform combines with existing systems, such as CRM, ERP, and RPA, via API for tailored process automation and analytics. It employs predictive analytics technology, elevates resource efficiency, and eliminates GxP compliance concerns through document digitization. Powered by AI, it further secures data precision and security with traceability elements and tailorable parameters. Notably, the company promises excellent data extraction from both formatted and unstructured data in addition to any format of batch records, augmenting businesses’ analysis endeavors and empowering them to implement advanced text analytics for in-depth insights. 4.8 Lumoa As a business empowerer, Lumoa allows extraordinary CX management through its revolutionary Generative AI platform. It combines feedback data from telephonic conversations, surveys, customer reviews, etc., into an integrated platform, effectively allowing businesses to understand customer sentiments at various touchpoints. By providing real-time actionable insights tailored to business metrics, Lumoa enables companies to undertake customer-oriented approaches, ensuring growth and high customer retention. Among the key features of the company’s platform remain its incredible analysis capabilities, multi-language support, collaborative tools for feedback management, phrase detection for enhancement scope, and GPT integration. Its executive dashboard lets users get detailed insights into users’ journeys, while automated event creation and feedback analysis help businesses monitor live KPIs. Furthermore, through GDPR compliance and ISO certifications, the company demonstrates a stellar commitment to data security, strengthening customer satisfaction and brand performance. 4.9 Wonderflow Wonderflow is a leading AI-powered platform provider committed to evaluating the voice of customers (VoC) across diverse touchpoints, such as reviews and customer service records. The company empowers businesses to make data-backed strategies and amplify operational efficiency by converting vast customer feedback data into implementable insights with advanced NLP and text analytics technologies. The company’s mission and endeavors reverberate the ‘think global, act local’ maxim, helping businesses drive enhanced audience experiences. Correspondingly, the company offers comprehensive VoC analytics solutions, including sentiment analysis, predictive analytics, and competitor assessment capabilities. Wonderflow’s innovative platform facilitates text analysis automation to quickly recognize trends, topics, and sentiments, along with their impact on critical metrics. Furthermore, it boasts a simple setup, which makes adopting VoC practices and interpreting feedback data easier. Businesses can effortlessly visualize data, replicate practical approaches, and tailor customer engagement tactics with the forward-thinking platform. 4.10 Thematic A next-generation AI-powered CX solutions provider, Thematic specializes in text analytics and supports businesses’ data analysis efforts. It converts unstructured text feedback from multiple channels into usable insights, like product refinement opportunities, payment pain points, or order cancellation causes. Trusted by premier organizations, it empowers companies to amplify their products, services, and customer interaction through in-depth thematic analysis of feedback data and subsequent strategic decision-making. By integrating customers’ feedback from various channels, like chats and surveys, the company renders an advantageous unified approach to data analytics and allows quick access to excellent insights. Thematic’s innovative platform implements robust visualizations for user-friendly data review and boasts features like real-time analytics and intuitive theme editing. Its Thematic Answers feature combines generative AI with a trust layer, ensuring the feasibility and reliability of its insights. Also, its Conversation AI feature enables effortless assessment and monitoring of solution details, ensuring high user delight and profitability. 5. Wrap Up Text analytics technology has emerged as a vital aspect of modern business intelligence, which harnesses machine learning and natural language processing to convert non-formatted data into pragmatic suggestions. Today, distinguished text analytics software providers empower companies to identify user sentiments and drive higher customer fulfillment and business productivity with advanced analysis technologies. Yet, as analytics technology advances, the future of text analytics remains full of possibilities for further refinement. For instance, with the progression of machine learning, the capability of data analytics software to provide more sophisticated assessments and predictive insights would increase manifold. One would especially witness an increased emphasis on multilingual text analytics for global e-commerce, IoT and blockchain integration, ethical considerations, and data security. These developments reflect that text analytics would not only offer accurate observations but also promote meaningful ventures and growth.

Read More
Business Intelligence, Big Data Management, Big Data

Exploring Business Success with Location Intelligence

Article | July 10, 2023

Discover the essentials of location intelligence across various industries, foundational concepts, industry-specific implementations, and location intelligence software in this insightful article. Contents 1. Introduction 2. Foundational Elements of Location Intelligence 3. Location Intelligence in Industry Verticals 4. Top Providers in Location Intelligence 4.1 Tango Analytics 4.2 Precisely 4.3 Local Logic 4.4 GBG 4.5 Nextbillion.ai 4.6 GeoComply 4.7 Mapbox 4.8 GapMaps 4.9 Qlik 4.10 Connectbase 5. Wrap Up 1. Introduction In the modern digital age, businesses continually pursue innovative strategies to gain a competitive edge and succeed. Among these strategies, location intelligence has emerged as a potent tool for driving informed decision-making. By leveraging geospatial data and advanced analytics, companies can extract actionable insights into customer behavior, market dynamics, and operational efficiencies. This article provides an overview of location intelligence, highlighting its role in enabling businesses across diverse industry verticals to navigate complex arenas and make data-driven decisions effectively. 2. Foundational Elements of Location Intelligence Geospatial Data: Geospatial data encompasses information tied to specific geographic locations on Earth's surface. It includes various types, such as vector data (points, lines, polygons), raster data (imagery), and attribute data (descriptive information about spatial features). Sources of geospatial data range from satellite imagery, aerial photography, GPS data, and LiDAR scans to census data, social media check-ins, and IoT devices. Mapping and Visualization Techniques: Mapping and visualization techniques are essential for conveying spatial information effectively. Cartography principles help design clear, informative, and aesthetically pleasing maps. Visualization techniques range from simple thematic maps to complex interactive web maps and 3D visualizations. GIS (Geographic Information Systems): GIS software allows users to capture, store, analyze, and visualize geospatial data. It enables the integration of various data types and provides tools for spatial analysis, such as overlay, proximity analysis, and spatial querying. In addition, Geographic Information Systems software is crucial in creating and analyzing spatial data. GPS (Global Positioning System): GPS technology provides precise location information by utilizing a network of satellites. It is widely used in navigation, asset tracking, surveying, and location-based services. Remote Sensing: Remote sensing involves capturing information about Earth's surface from a distance, typically using satellites or aircraft. It provides valuable data for monitoring environmental changes, agriculture, disaster management, and natural resource management. 3. Location Intelligence in Industry Verticals Location intelligence finds applications across various industry verticals, each with its unique challenges and opportunities. Transport and logistics organizations leverage location intelligence software to optimize supply chains and streamline delivery operations. With location analytics, fleet managers can minimize delivery time and control warehouse loading and unloading processes. Real-time monitoring helps in route accuracy, identifying delivery delays, and accurately calculating expenses, including fuel reimbursement and fleet operating costs. Location analytics is a game-changer in the pharmaceutical industry, revolutionizing on-field activities such as dispatching medicines, inventory management, and managing client visits. Companies harness location data to fine-tune sales operations and align sales territories effectively. By analyzing sales patterns geographically, pharma companies can optimize sales efforts, minimize travel time for medical reps, and ensure equitable distribution of tasks. In banking and insurance industries, location intelligence data is integral to channel optimization and sales operations. Banks and insurance companies leverage location data to expand their branch networks strategically and make informed decisions about acquisitions or investments. By engaging customers with relevant information based on their location, they can maintain positive relationships, develop better policies, and boost marketing strategies. The retail industry utilizes location intelligence to deliver personalized experiences and optimize supply chain management. By integrating location data with consumer and operational data, retailers gain insights into consumer behavior and preferences at the store level. This enables them to deliver consistent purchasing experiences, drive customized marketing outreach, and optimize supply chain processes for enhanced efficiency and customer satisfaction. 4. Top Providers in Location Intelligence When exploring the world of location intelligence, it becomes apparent that the source of the data driving these insights is a crucial yet often neglected aspect. Every business industry requires distinct datasets; not all providers offer the same breadth or depth. Therefore, understanding where to obtain these essential resources is paramount. Look at a list of top providers in location intelligence to ensure access to the precise data types required to propel your business forward. 4.1 Tango Analytics Tango Analytics solutions offer businesses the intelligence to develop more brilliant location strategies and make informed capital investment decisions. By integrating advanced modeling with robust data within a scalable geospatial analytics platform, Tango provides unparalleled insights that optimize location decisions, maximizing the potential for brand success. Tango's Integrated Workplace Management System (IWMS) software suite equips organizations with comprehensive tools to analyze and optimize their corporate offices or physical locations. With purpose-built GIS, predictive analytics, and management tools, Tango enables businesses to better predict and respond to market opportunities while enhancing the execution of location strategies. From space management and facilities maintenance to lease administration and capital project management, Tango's IWMS solutions streamline processes and improve resource utilization. 4.2 Precisely Precisely, a renowned leader in data integrity has expanded its portfolio with the acquisition of PlaceIQ in 2022. This strategic move has enriched Precisely’s offerings with advanced location intelligence solutions, notably PlaceIQ Audiences and PlaceIQ Movement. These solutions empower businesses to leverage real-world behaviors and foot traffic insights, enabling targeted consumer engagement and informed decision-making. PlaceIQ's platform equips businesses with powerful location-based insights, attribution, and measurement capabilities. Its sophisticated approach allows companies to understand and connect with location-based audiences, measure real-time ROI, and apply insights to drive intelligent marketing and business outcomes. Key features include implementing audience strategies with proven results, measuring foot traffic patterns for actionable insights, analyzing movement patterns for market insights, and accessing high-quality location data through subscription models. 4.3 Local Logic Local Logic specializes in providing comprehensive location intelligence solutions tailored for the real estate sector. Founded in 2015, the company emerged from a commitment to enhancing urban livability through objective data and metrics. Headquartered in Montreal, Canada, Local Logic offers tools designed to quantify and analyze location-related data, aiding residential and commercial real estate professionals in making informed decisions across the United States and Canada. Local Logic's provides comprehensive location intelligence solutions which offers granular demographic insights, proprietary location scores, detailed neighborhood profiles, real-time points of interest (POI) data, school-focused information, and climate risk assessments. These features enable users to access information crucial for evaluating property investments and matching properties with ideal lifestyles. By integrating diverse data points into intuitive tools and maps, Local Logic empowers clients to leverage data-driven decision-making in the competitive real estate market. 4.4 GBG Loqate, a GBG solution, provides comprehensive services focused on address verification, data validation, and geocoding. With a global reach, Loqate's solutions are designed to enhance data quality, improve customer experiences, and support efficient business operations across various industries. Loqate offers various critical services, including real-time address capture, address verification for 249 countries and territories, data maintenance services, geocoding capabilities, and email, phone, and bank details validation. Additionally, their points of interest and store finder feature provides comprehensive POI data to enhance location-based services. These features help businesses maintain high-quality datasets, improve operational efficiency, reduce costs, ensure compliance, and scale with business needs, ultimately enhancing customer experience and satisfaction. 4.5 Nextbillion.ai NextBillion.ai offers advanced routing and navigation solutions tailored to tackle complex logistical challenges across various industries. With an integrated platform leveraging AI-powered technology, NextBillion.ai provides a range of APIs and SDKs to optimize routing, enhance navigation, and ensure real-time tracking, ultimately improving operational efficiency and customer satisfaction. NextBillion.ai's essential products and features include the Route Optimization API, which handles over 50 constraints and customizable parameters to generate optimized routes tailored to specific business needs. The Directions and Distance Matrix API processes large matrices for accurate ETAs and distances, with scalable pricing based on fleet size or order volume. Their Navigation API & SDKs offer turn-by-turn navigation across multiple platforms. At the same time, the Live Tracking API & SDKs provide real-time monitoring and comprehensive integration with telematics and CRM systems, enhancing fleet management and operational efficiency. These features cater to various industries, including supply chain and logistics, mobility and field services, offering scalability, cost efficiency, and developer-friendly integration processes. 4.6 GeoComply GeoComply is a renowned provider of geolocation compliance and anti-fraud solutions. Established in 2011, it aims to foster a safer internet environment by combating fraud and ensuring regulatory adherence across diverse sectors such as gaming, finance, and media. GeoComply offers a suite of critical products addressing various aspects of fraud prevention and compliance. GeoComply Core provides precise geolocation data and anti-fraud solutions, which are crucial for industries like online gaming and financial services. GeoGuard, its award-winning solution, identifies and blocks fraudulent access through VPNs and proxies, safeguarding geolocation data integrity. IDComply offers comprehensive KYC & AML solutions, ensuring regulatory compliance with identity verification requirements. PinPoint provides custom geofencing solutions for on-property location compliance, while GeoComply Chargeback Integrator (GCI) automates chargeback management to combat fraud effectively. These solutions deliver enhanced security, regulatory compliance, operational efficiency, and revenue optimization benefits trusted by leading businesses worldwide. 4.7 Mapbox Mapbox is a premier provider of mapping and location data platforms, offering developers a suite of tools and services to craft bespoke maps, navigation systems, and geospatial data solutions. With a founding mission to democratize mapping and deliver highly customizable, performance-driven mapping solutions, Mapbox serves a diverse array of industries, including automotive, logistics, and mobile applications. Mapbox's key features and services encompass various offerings tailored to diverse developer needs. Mapbox Studio enables users to create and customize map styles, incorporating features like 3D buildings and terrain contours for enhanced functionality and aesthetics. Navigation solutions include SDKs for mobile and automotive applications, featuring embedded routing, turn-by-turn navigation, and specialized solutions such as Mapbox for EVs, catering to electric vehicles with route planning and battery range predictions. Location data and analytics offerings include Directions and Matrix APIs for optimal route calculation along with real-time data integration for accurate, up-to-date maps and traffic information. Cross-platform development support extends to polished SDKs for web and mobile applications, facilitating seamless integration, high performance across devices, and offline map functionality crucial for areas with limited connectivity. 4.8 GapMaps GapMaps is a leading provider of cloud-based GIS mapping and location intelligence solutions. It empowers businesses to make informed decisions based on spatial data analysis. Its platform, GapMaps Live, offers a comprehensive suite of features tailored to various industries, including retail, healthcare, and real estate.GapMaps Live provides a user-friendly cloud-based platform for real-time data visualization and insights, facilitating customizable catchments for understanding customer behavior and optimizing store locations. Competitive analysis tools allow businesses to assess competitor locations and gain strategic insights. GapMaps also offers GapAdvisory services, providing expert market planning, network, and growth strategies. GapInsite furnishes the latest industry intel, aiding businesses in understanding market conditions and customer behaviors. The GapMaps Connect Mobile App enables real-time field data collection and synchronization with GapMaps Live. Additionally, GapMaps offers comprehensive Point of Interest and demographics data globally, aiding businesses in market assessment and site selection. 4.9 Qlik Qlik offers a comprehensive data integration and analytics platform designed to empower organizations to leverage their data to drive business outcomes. With a range of tools and capabilities supporting data integration, real-time analytics, and artificial intelligence, Qlik provides a robust solution for businesses across various industries. Qlik Cloud Data Integration facilitates the creation of data pipelines to automate data movement and transformation alongside modern analytics capabilities such as self-service analytics and interactive dashboards. Qlik Sense, powered by its associative engine, enables users to explore data freely and generate insights efficiently through innovative visualizations and continuous learning resources like Qlik Continuous Classroom. The platform also emphasizes data quality and governance, ensuring data accuracy, completeness, and reliability while promoting a unified approach to management. Qlik Application Automation offers a no-code automation interface to seamlessly build automated analytics and data workflows. 4.10 Connectbase Connectbase offers a comprehensive platform called ‘The Connected World,’ designed to revolutionize the buying and selling of network connectivity through advanced location intelligence and automation. Tailored to improve efficiency and accuracy for network providers, this platform enables better decision-making and streamlined processes. Connectbase provides highly accurate, location-specific data for over 1.4 billion buildings worldwide, including insights into building structures, tenant information, and competitive geography. Continuous updates ensure users have the most current information, reducing the risk of decision-making based on outdated data. The platform automates the quoting process, enabling quick and accurate responses to deals and eliminating delays caused by manual methods. Configure, Price, Quote (CPQ) functionality facilitates scalable, real-time quoting from configurable supplier product catalogs. Users can leverage real-time market and revenue data to make informed decisions about where to build new routes and expand their network, optimizing ROI. Tools for prospecting and pricing based on detailed market insights help businesses target sales efforts and maximize profitability. Centralized management of partner-building lists and product catalogs streamlines buying and selling processes. 5. Wrap Up Location intelligence offers numerous benefits for businesses, including risk management, predictive analytics, and real-time trend tracking. It facilitates streamlined operations and services, enhancing efficiency across various functions. With the increasing digitization of business processes, organizations can gather more user information, driving further industry growth. Particularly for customer-facing businesses, leveraging real-time location data improves the in-store experience significantly. From sales and marketing to customer and facility management, location intelligence presents plenty of opportunities for businesses to optimize their operations and enhance their competitive edge. Looking ahead, the future of location intelligence promises even more incredible advancements and opportunities for businesses. As technology evolves, we can expect enhanced precision and granularity in location data, enabling more accurate predictive analytics and risk management strategies. Integrating location intelligence with emerging technologies such as artificial intelligence and augmented reality will unlock new dimensions of customer engagement and personalized experiences. Moreover, with the increase of Internet of Things devices, businesses will have access to vast streams of real-time location data, empowering them to make proactive decisions and stay ahead in a dynamic market. Embracing these developments, businesses can remain agile, responsive, and poised for success in the ever-evolving digital ecosystem.

Read More
Text Analytics, Business Intelligence, Data Visualization

Elevating Business Strategies with Top Data Visualization Companies

Article | June 21, 2024

Dive into mastering aesthetics in data visualization with this checklist. Explore techniques to enhance visualizations, and achieve lasting impact. Learn to create visually stunning presentations. Contents 1. Introduction 2. Key Principles of Data Visualization 3. Ultimate Checklist for Improved Data Visualization 4. Top Companies Revolutionizing Data Visualization 4.1 Databox 4.2 NinjaCat 4.3 Plecto 4.4 Venngage 4.5 Prodoscore 4.6 Genially 4.7 Forsta 4.8 AmplifAI 4.9 think-cell Software 4.10 Qalyptus 5. Summing Up 1. Introduction Effective communication of insights and discoveries is essential for taking action and making well-informed decisions in today's data-driven society. When combined with excellent storytelling, data visualization offers powerful tools for converting complex data into Engaging stories that captivate audiences. Acquiring proficiency in data visualization aesthetics becomes imperative for businesses looking to extract the most value from their information. Organizations can enhance their understanding of intricate data and revolutionize their interactions with it by adopting modern technologies and innovative approaches to information visualization. Insights can be efficiently communicated through data visualization with the help of this guide, to empower data science professionals and companies in mastering the aesthetics of data visualization. Aesthetics in data visualization refer to the design principles and techniques used to enhance the visual appeal and effectiveness of data presentations. These include aspects such as color choice, typography, layout, and interactivity, all aimed at making the data more engaging and understandable to the audience. 2. Key Principles of Data Visualization In the field of data visualization, graphical information representation is an important tool for improving interpretation, analysis, and communication. A variety of methods, including maps, graphs, charts, and infographics, are used to simplify complex statistics into representations that are easy to understand and visually appealing. Selecting the appropriate visualization method depends on the type of data and the insights that are sought. For example, scatter plots and maps work well with multivariate and spatial data, but bar charts and line graphs are excellent at displaying trends. To guarantee that the audience understands, it is crucial to emphasize simplicity and clarity. To reduce cognitive burden and facilitate understanding, usage of clear labeling, detailed names, and sensible color schemes are followed. To create impactful visualizations, certain principles should be followed: Simplify complex data by presenting it in clear and concise visual representations, aiding comprehension. Utilize appropriate chart types tailored to data types to ensure accurate and meaningful representation. Design for clarity and readability by choosing layouts, fonts, and sizes that enhance comprehension. Incorporate meaningful colors, labels, and annotations to highlight key information and guide attention. Emphasize storytelling through data visualization, structuring visuals to drive insights and action. 3. Ultimate Checklist for Improved Data Visualization Optimizing data visualization in businesses rely on adhering to essential best practices throughout the design and implementation process. Here are the top five strategies to ensure impactful data presentations: Audience-Centric Approach: Tailor visualizations to meet the specific needs of the audience. Whether targeting executives for high-level insights or analysts for in-depth data exploration, align the visualizations with their expectations to deliver meaningful insights effectively. Strategic Chart Selection: Choose chart types that best convey data insights. Opt for bar charts to compare values across categories, line charts to illustrate trends over time, and other formats that align with the data narrative for clarity and comprehension. Streamlined Visuals: Simplify visualizations by decluttering unnecessary elements that could distract or confuse viewers. Maintain a clean design with a restrained color palette and avoid overly complex effects to ensure clarity and focus on the data message. Engaging Storytelling: Elevate the visualizations by integrating storytelling techniques. Add context through annotations, craft compelling titles and captions, and structure visualizations in a logical sequence to guide viewers through the data narrative seamlessly. Consistent Design Standards: Ensure consistency in design elements like fonts, axis labels, and legends across all visualizations. This fosters readability and provides a cohesive visual experience, enhancing understanding and retention of the data presented. 4. Top Companies Revolutionizing Data Visualization 4.1Databox Overview: Databox is a versatile data visualization platform offering powerful features for connecting and analyzing data from various sources. It enables users to create interactive dashboards, track key metrics, and collaborate with team members effectively. Key Features: Integrates with popular platforms like Google Analytics, HubSpot, and Facebook Ads, allowing consolidation of data from multiple sources into a single dashboard. Offers ready-made templates and dashboards to expedite visualization creation, saving time and effort. Users can customize dashboards with various visualization options, chart types, and widgets to suit specific needs. Facilitates teamwork through collaboration and sharing features, enabling automated alerts, notifications, and insights sharing with stakeholders. Provides advanced features like automated alerts, goal tracking, performance monitoring, data transformations, and calculations to enhance data visualization and analysis. 4.2NinjaCat Overview: NinjaCat is a robust data visualization tool designed to streamline reporting and analysis tasks for digital marketers and agencies. It offers a comprehensive suite of features aimed at simplifying data aggregation, visualization, and reporting across various advertising platforms. Key Features: NinjaCat seamlessly integrates with popular advertising platforms such as Google Ads, Facebook Ads, Microsoft Advertising, LinkedIn Ads, and more, enabling users to gather data from multiple sources in one centralized location. Users can create highly customizable dashboards tailored to their specific reporting needs. NinjaCat provides a wide range of visualization options, including charts, graphs, tables, and widgets, allowing users to present data in a visually appealing and easily digestible format. NinjaCat automates the reporting process by scheduling and sending reports to stakeholders on a regular basis. Users can set up custom report templates, define reporting intervals, and choose delivery methods (e.g., email, PDF, URL) to streamline communication and collaboration. NinjaCat offers advanced performance monitoring capabilities, allowing users to track key metrics, analyze trends, and identify opportunities for optimization. Users can set up alerts and notifications to stay informed about significant changes in campaign performance. NinjaCat allows users to create interactive reports with drill-down capabilities, enabling stakeholders to explore data in more detail and gain deeper insights into campaign performance. 4.3Plecto Overview: Plecto is a cloud-based performance dashboard designed to streamline data management and visualization for businesses of all sizes. Its suite of features includes data integration, scorecards, gamification, and data analytics, empowering teams to visualize performance in real time on customized dashboards. Key functionalities such as drag-and-drop widgets and integration with various data sources make it easy for users to create comprehensive dashboards tailored to their needs. Key Features: Gain instant insights into key performance indicators (KPIs) with real-time data visualization, enabling quick decision-making and action. Create customized dashboards by integrating data from multiple sources, including integrations, spreadsheets, databases, and manual registrations, to centralize information and streamline analysis. Drive employee engagement and motivation by using gamification features such as contests, achievements, and leaderboards to recognize and reward team members based on performance. Seamlessly integrate Plecto with popular third-party applications like Salesforce, Pipedrive, Podio, Zendesk, and Zapier to consolidate data and enhance visibility across systems. 4.4Venngage Overview: Venngage is a user-friendly infographics tool that empowers users to create stunning infographics, reports, and data visualizations quickly and effortlessly. With its intuitive interface and extensive library of templates and design elements, Venngage caters to both beginners and advanced users, offering highly customizable controls for creating professional-looking infographics. Key Features: Choose from a vast collection of professionally designed templates and themes to kickstart the infographic creation process. Easily add charts, icons, text, or images to the template by simply dragging and dropping elements onto the canvas. Customize and stylize infographic elements to match brand's identity and messaging, with controls for colors, fonts, shapes, and more. Share infographics directly on social media platforms or download them as images for offline use, enabling easy distribution and sharing with the audience. 4.5Prodoscore Overview: Siloed data can impede collaboration and growth within organizations. Prodoscore addresses this challenge by aggregating data from core cloud applications into one intuitive dashboard. It seamlessly integrates with Google Workspace, Microsoft 365, and other common applications, allowing teams to visualize employee engagement with software tools. This visualization helps identify underutilized solutions, optimize tech stacks, and pinpoint training needs. Prodoscore provides management with complete transparency, enabling informed decisions about technology effectiveness and resource allocation. Key Features: Prodoscore merges data from various business applications into a user-friendly dashboard, presenting it as a simple score. The platform offers tools to visualize employee data trends in real time, empowering informed decision-making. Prodoscore focuses on surfacing actionable insights around engagement and productivity, providing leaders with objective data to make smarter decisions. With just a 15-minute installation process, Prodoscore quickly integrates into existing workflows without disrupting operations. Utilizing AI, Prodoscore aggregates critical data to generate scores that reflect employee engagement and productivity effectively. 4.6Genially Overview: Genially is an innovative online tool designed for creating engaging digital content, including presentations, infographics, gamifications, images, and more. With a user-friendly interface and a focus on interactivity and animation, Genially empowers users to captivate their audience and elevate their content to new heights. Key Features: Genially allows users to create a wide range of digital content, termed as ‘geniallys,’ which are not limited to traditional presentations or infographics. These geniallys are interactive and animated, offering a unique and engaging experience for viewers. Genially's features make it practical for visualizing data, enabling users to easily transform raw data into visually appealing content. Users can import content from various platforms and formats, including Google Sheets, Infogram, and Data wrapper. Genially seamlessly integrates with external tools like Infogram and Data wrapper, allowing users to embed graphics directly into their geniallys using HTML code. Users can even embed dashboards from Google Data Studio, maintaining filters and structure for efficient reporting. Users can share geniallys using links or embed them in websites, digital newspapers, blogs, and more. Updates made to geniallys are automatically reflected everywhere they are embedded or inserted, ensuring that viewers always see the latest version. 4.7Forsta Overview: Forsta is a pioneering technology company specializing in experience and research technology, with a unique focus on collaboration and client-centered solutions. At the heart of Forsta's offerings is the human experience ( HX ) platform, an award-winning platform that integrates customer experience (CX), employee experience (EX), and market research to provide comprehensive insights into audience experiences across industries. Key Features: The Forsta HX Platform seamlessly integrates CX, EX, and market research, breaking down silos and providing a holistic understanding of audience experiences. Forsta prioritizes collaboration, listening, and co-designing solutions with clients to meet their unique needs effectively. With cutting-edge technology and expert consulting services, Forsta assists organizations across various industries in leveraging data for informed decision-making to drive innovation. Forsta's commitment to excellence is recognized by industry leaders, with accolades including leadership positions in the Gartner Magic Quadrant and the G2 grid, along with recognition in the TMC CUSTOMER Experience Innovation Awards. Forsta's Visualizations module continues to evolve with frequent updates and enhancements, introducing 36 new features over seven months. These enhancements cater to diverse analytical needs, from exploratory analysis to dynamic dashboard creation and automated reporting. 4.8AmplifAI Overview: AmplifAI is the forefront of platforms providingAI in HR to drive people enablement, dedicated to creating employee-centric work environments. By transforming employee data into actionable insights modeled after top performers, AmplifAI facilitates hybrid teams in maximizing business outcomes, enhancing productivity, and fostering engagement. As organizations transition to hybrid work models, AmplifAI emerges as a trusted partner for innovative leaders, enabling performance improvement and injecting fun into work, regardless of the location. Key Benefits: Accelerate employee performance to desired levels swiftly through metric-based performance analysis, self-paced micro-learnings, and intelligent coaching interventions. Equip supervisors with automated, data-driven recommendations that consistently elevate agent and team performance, enhancing overall leadership effectiveness. Role-based visualizations deliver personalized actions directly to employees, empowering them with clear directives to enhance their performance based on data-driven insights. Elevate employee experience by providing resources necessary for skill growth and daily excellence, thereby reducing attrition rates within contact centers and fostering a culture of continuous improvement. 4.9think-cell Software Overview: Think-Cell Software is at the forefront of productivity software, particularly in the area of data-driven presentations in Microsoft PowerPoint. Its purpose is to simplify complex charting tasks, allowing users to generate complex charts with simplicity. It increases productivity and efficiency by providing a full toolbox and streamlining processes, making it a reliable partner for professionals looking to improve their presentations and give relevant insights. Key Advantages: Leveraging Think-Cell is intuitive, as its processes closely resemble powerpoint's functionalities. The underlying datasheet is excel-based, ensuring a seamless transition for users familiar with microsoft office tools. Think-Cell fills the gaps left by PowerPoint, offering a plethora of frequently used chart types and elements absent in the native software. This comprehensive toolkit empowers users to create visually stunning charts with ease. Leading consulting firms rely on Think-Cell for a reason that it saves up to 70% of their time spent on charting tasks. Delve into some unique Think-Cell charting features, exclusive to the platform, that expedite chart production and optimize efficiency. With Think-Cell at disposal, one can elevate the corporate presentations to new heights. Discover innovative charting solutions and unleash the creativity while saving valuable time. 4.10Qalyptus Overview: Qalyptus offers a comprehensive reporting solution tailored for users of Qlik Sense and QlikView, aiming to make information accessible to everyone with intuitive ease. With Qalyptus, the entire reporting process, from creation to distribution and administration is streamlined for maximum efficiency. Key Features: Qalyptus simplifies the report creation process, allowing users to generate custom reports from Qlik Sense and QlikView data effortlessly. Whether it's in PDF, powerpoint, excel, word, HTML, or other formats, creating a personalized report takes less than 5 minutes. Once reports are created, Qalyptus enables seamless distribution to an unlimited number of users. Whether it's internal stakeholders, clients, or partners, sharing insights derived from Qlik Sense and QlikView is hassle-free with Qalyptus. Qalyptus provides robust administration capabilities, allowing users to manage and oversee the entire reporting workflow efficiently. From user access controls to scheduling and automation, Qalyptus empowers administrators to maintain control and ensure smooth operations. 5. Summing Up Delving deep into data visualization aesthetics proves instrumental in unraveling the insights concealed within vast datasets and transforming them into actionable intelligence. By adhering to the principles of aesthetics and functionality, organizations can craft visualizations that inform and inspire, paving the way for strategic decision-making and fostering a culture of data-driven innovation. Looking ahead, the future scope for mastering the aesthetics of data visualization holds promising prospects. As technology continues to evolve and anticipate advancements in interactive visualization tools, AI-driven design recommendations and augmented reality integration offers even greater opportunities for creating compelling and impactful visualizations. With a continued focus on innovation and adaptation, organizations can stay at the forefront of data visualization excellence, driving further advancements in business intelligence and decision-making processes.

Read More

How Artificial Intelligence Is Transforming Businesses

Article | February 11, 2020

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives.AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity.However, AI has not only transformed administrative processes and freed up more time for companies, it has also contributed to some ground-breaking moments in business, being a must-have for many in order to keep up with the competition.

Read More

Spotlight

Crmt

CRMT is a leading regional consulting company specializing in Corporate Performance Management, Business Intelligence, Data Warehousing, Data Integration and Master data Management. We provide end to end services from Data Architecture, Implementation, Project Management, Long Term Support, and Training. Our competitive advantage is derived from our extensive team of experts with highest level of knowledge and competence in effort to provide our customers the most innovative, reliable, and consistent results on every project. CRMT has an enviable track record of client success due to our unique ability to deliver solutions on time, and within a budget.

Related News

Big Data

Airbyte Racks Up Awards from InfoWorld, BigDATAwire, Built In; Builds Largest and Fastest-Growing User Community

Airbyte | January 30, 2024

Airbyte, creators of the leading open-source data movement infrastructure, today announced a series of accomplishments and awards reinforcing its standing as the largest and fastest-growing data movement community. With a focus on innovation, community engagement, and performance enhancement, Airbyte continues to revolutionize the way data is handled and processed across industries. “Airbyte proudly stands as the front-runner in the data movement landscape with the largest community of more than 5,000 daily users and over 125,000 deployments, with monthly data synchronizations of over 2 petabytes,” said Michel Tricot, co-founder and CEO, Airbyte. “This unparalleled growth is a testament to Airbyte's widespread adoption by users and the trust placed in its capabilities.” The Airbyte community has more than 800 code contributors and 12,000 stars on GitHub. Recently, the company held its second annual virtual conference called move(data), which attracted over 5,000 attendees. Airbyte was named an InfoWorld Technology of the Year Award finalist: Data Management – Integration (in October) for cutting-edge products that are changing how IT organizations work and how companies do business. And, at the start of this year, was named to the Built In 2024 Best Places To Work Award in San Francisco – Best Startups to Work For, recognizing the company's commitment to fostering a positive work environment, remote and flexible work opportunities, and programs for diversity, equity, and inclusion. Today, the company received the BigDATAwire Readers/Editors Choice Award – Big Data and AI Startup, which recognizes companies and products that have made a difference. Other key milestones in 2023 include the following. Availability of more than 350 data connectors, making Airbyte the platform with the most connectors in the industry. The company aims to increase that to 500 high-quality connectors supported by the end of this year. More than 2,000 custom connectors were created with the Airbyte No-Code Connector Builder, which enables data connectors to be made in minutes. Significant performance improvement with database replication speed increased by 10 times to support larger datasets. Added support for five vector databases, in addition to unstructured data sources, as the first company to build a bridge between data movement platforms and artificial intelligence (AI). Looking ahead, Airbyte will introduce data lakehouse destinations, as well as a new Publish feature to push data to API destinations. About Airbyte Airbyte is the open-source data movement infrastructure leader running in the safety of your cloud and syncing data from applications, APIs, and databases to data warehouses, lakes, and other destinations. Airbyte offers four products: Airbyte Open Source, Airbyte Self-Managed, Airbyte Cloud, and Powered by Airbyte. Airbyte was co-founded by Michel Tricot (former director of engineering and head of integrations at Liveramp and RideOS) and John Lafleur (serial entrepreneur of dev tools and B2B). The company is headquartered in San Francisco with a distributed team around the world. To learn more, visit airbyte.com.

Read More

Big Data Management

The Modern Data Company Recognized in Gartner's Magic Quadrant for Data Integration

The Modern Data Company | January 23, 2024

The Modern Data Company, recognized for its expertise in developing and managing advanced data products, is delighted to announce its distinction as an honorable mention in Gartner's 'Magic Quadrant for Data Integration Tools,' powered by our leading product, DataOS. “This accolade underscores our commitment to productizing data and revolutionizing data management technologies. Our focus extends beyond traditional data management, guiding companies on their journey to effectively utilize data, realize tangible ROI on their data investments, and harness advanced technologies such as AI, ML, and Large Language Models (LLMs). This recognition is a testament to Modern Data’s alignment with the latest industry trends and our dedication to setting new standards in data integration and utilization.” – Srujan Akula, CEO of The Modern Data Company The inclusion in the Gartner report highlights The Modern Data Company's pivotal role in shaping the future of data integration. Our innovative approach, embodied in DataOS, enables businesses to navigate the complexities of data management, transforming data into a strategic asset. By simplifying data access and integration, we empower organizations to unlock the full potential of their data, driving insights and innovation without disruption. "Modern Data's recognition as an Honorable Mention in the Gartner MQ for Data Integration is a testament to the transformative impact their solutions have on businesses like ours. DataOS has been pivotal in allowing us to integrate multiple data sources, enabling our teams to have access to the data needed to make data driven decisions." – Emma Spight, SVP Technology, MIND 24-7 The Modern Data Company simplifies how organizations manage, access, and interact with data using its DataOS (data operating system) that unifies data silos, at scale. It provides ontology support, graph modeling, and a virtual data tier (e.g. a customer 360 model). From a technical point of view, it closes the gap from conceptual to physical data model. Users can define conceptually what they want and its software traverses and integrates data. DataOS provides a structured, repeatable approach to data integration that enhances agility and ensures high-quality outputs. This shift from traditional pipeline management to data products allows for more efficient data operations, as each 'product' is designed with a specific purpose and standardized interfaces, ensuring consistency across different uses and applications. With DataOS, businesses can expect a transformative impact on their data strategies, marked by increased efficiency and a robust framework for handling complex data ecosystems, allowing for more and faster iterations of conceptual models. About The Modern Data Company The Modern Data Company, with its flagship product DataOS, revolutionizes the creation of data products. DataOS® is engineered to build and manage comprehensive data products to foster data mesh adoption, propelling organizations towards a data-driven future. DataOS directly addresses key AI/ML and LLM challenges: ensuring quality data, scaling computational resources, and integrating seamlessly into business processes. In our commitment to provide open systems, we have created an open data developer platform specification that is gaining wide industry support.

Read More

Big Data Management

data.world Integrates with Snowflake Data Quality Metrics to Bolster Data Trust

data.world | January 24, 2024

data.world, the data catalog platform company, today announced an integration with Snowflake, the Data Cloud company, that brings new data quality metrics and measurement capabilities to enterprises. The data.world Snowflake Collector now empowers enterprise data teams to measure data quality across their organization on-demand, unifying data quality and analytics. Customers can now achieve greater trust in their data quality and downstream analytics to support mission-critical applications, confident data-driven decision-making, and AI initiatives. Data quality remains one of the top concerns for chief data officers and a critical barrier to creating a data-driven culture. Traditionally, data quality assurance has relied on manual oversight – a process that’s tedious and fraught with inefficacy. The data.world Data Catalog Platform now delivers Snowflake data quality metrics directly to customers, streamlining quality assurance timelines and accelerating data-first initiatives. Data consumers can access contextual information in the catalog or directly within tools such as Tableau and PowerBI via Hoots – data.world’s embedded trust badges – that broadcast data health status and catalog context, bolstering transparency and trust. Additionally, teams can link certification and DataOps workflows to Snowflake's data quality metrics to automate manual workflows and quality alerts. Backed by a knowledge graph architecture, data.world provides greater insight into data quality scores via intelligence on data provenance, usage, and context – all of which support DataOps and governance workflows. “Data trust is increasingly crucial to every facet of business and data teams are struggling to verify the quality of their data, facing increased scrutiny from developers and decision-makers alike on the downstream impacts of their work, including analytics – and soon enough, AI applications,” said Jeff Hollan, Director, Product Management at Snowflake. “Our collaboration with data.world enables data teams and decision-makers to verify and trust their data’s quality to use in mission-critical applications and analytics across their business.” “High-quality data has always been a priority among enterprise data teams and decision-makers. As enterprise AI ambitions grow, the number one priority is ensuring the data powering generative AI is clean, consistent, and contextual,” said Bryon Jacob, CTO at data.world. “Alongside Snowflake, we’re taking steps to ensure data scientists, analysts, and leaders can confidently feed AI and analytics applications data that delivers high-quality insights, and supports the type of decision-making that drives their business forward.” The integration builds on the robust collaboration between data.world and Snowflake. Most recently, the companies announced an exclusive offering for joint customers, streamlining adoption timelines and offering a new attractive price point. The data.world's knowledge graph-powered data catalog already offers unique benefits for Snowflake customers, including support for Snowpark. This offering is now available to all data.world enterprise customers using the Snowflake Collector, as well as customers taking advantage of the Snowflake-only offering. To learn more about the data quality integration or the data.world data catalog platform, visit data.world. About data.world data.world is the data catalog platform built for your AI future. Its cloud-native SaaS (software-as-a-service) platform combines a consumer-grade user experience with a powerful Knowledge Graph to deliver enhanced data discovery, agile data governance, and actionable insights. data.world is a Certified B Corporation and public benefit corporation and home to the world’s largest collaborative open data community with more than two million members, including ninety percent of the Fortune 500. Our company has 76 patents and has been named one of Austin’s Best Places to Work seven years in a row.

Read More

Big Data

Airbyte Racks Up Awards from InfoWorld, BigDATAwire, Built In; Builds Largest and Fastest-Growing User Community

Airbyte | January 30, 2024

Airbyte, creators of the leading open-source data movement infrastructure, today announced a series of accomplishments and awards reinforcing its standing as the largest and fastest-growing data movement community. With a focus on innovation, community engagement, and performance enhancement, Airbyte continues to revolutionize the way data is handled and processed across industries. “Airbyte proudly stands as the front-runner in the data movement landscape with the largest community of more than 5,000 daily users and over 125,000 deployments, with monthly data synchronizations of over 2 petabytes,” said Michel Tricot, co-founder and CEO, Airbyte. “This unparalleled growth is a testament to Airbyte's widespread adoption by users and the trust placed in its capabilities.” The Airbyte community has more than 800 code contributors and 12,000 stars on GitHub. Recently, the company held its second annual virtual conference called move(data), which attracted over 5,000 attendees. Airbyte was named an InfoWorld Technology of the Year Award finalist: Data Management – Integration (in October) for cutting-edge products that are changing how IT organizations work and how companies do business. And, at the start of this year, was named to the Built In 2024 Best Places To Work Award in San Francisco – Best Startups to Work For, recognizing the company's commitment to fostering a positive work environment, remote and flexible work opportunities, and programs for diversity, equity, and inclusion. Today, the company received the BigDATAwire Readers/Editors Choice Award – Big Data and AI Startup, which recognizes companies and products that have made a difference. Other key milestones in 2023 include the following. Availability of more than 350 data connectors, making Airbyte the platform with the most connectors in the industry. The company aims to increase that to 500 high-quality connectors supported by the end of this year. More than 2,000 custom connectors were created with the Airbyte No-Code Connector Builder, which enables data connectors to be made in minutes. Significant performance improvement with database replication speed increased by 10 times to support larger datasets. Added support for five vector databases, in addition to unstructured data sources, as the first company to build a bridge between data movement platforms and artificial intelligence (AI). Looking ahead, Airbyte will introduce data lakehouse destinations, as well as a new Publish feature to push data to API destinations. About Airbyte Airbyte is the open-source data movement infrastructure leader running in the safety of your cloud and syncing data from applications, APIs, and databases to data warehouses, lakes, and other destinations. Airbyte offers four products: Airbyte Open Source, Airbyte Self-Managed, Airbyte Cloud, and Powered by Airbyte. Airbyte was co-founded by Michel Tricot (former director of engineering and head of integrations at Liveramp and RideOS) and John Lafleur (serial entrepreneur of dev tools and B2B). The company is headquartered in San Francisco with a distributed team around the world. To learn more, visit airbyte.com.

Read More

Big Data Management

The Modern Data Company Recognized in Gartner's Magic Quadrant for Data Integration

The Modern Data Company | January 23, 2024

The Modern Data Company, recognized for its expertise in developing and managing advanced data products, is delighted to announce its distinction as an honorable mention in Gartner's 'Magic Quadrant for Data Integration Tools,' powered by our leading product, DataOS. “This accolade underscores our commitment to productizing data and revolutionizing data management technologies. Our focus extends beyond traditional data management, guiding companies on their journey to effectively utilize data, realize tangible ROI on their data investments, and harness advanced technologies such as AI, ML, and Large Language Models (LLMs). This recognition is a testament to Modern Data’s alignment with the latest industry trends and our dedication to setting new standards in data integration and utilization.” – Srujan Akula, CEO of The Modern Data Company The inclusion in the Gartner report highlights The Modern Data Company's pivotal role in shaping the future of data integration. Our innovative approach, embodied in DataOS, enables businesses to navigate the complexities of data management, transforming data into a strategic asset. By simplifying data access and integration, we empower organizations to unlock the full potential of their data, driving insights and innovation without disruption. "Modern Data's recognition as an Honorable Mention in the Gartner MQ for Data Integration is a testament to the transformative impact their solutions have on businesses like ours. DataOS has been pivotal in allowing us to integrate multiple data sources, enabling our teams to have access to the data needed to make data driven decisions." – Emma Spight, SVP Technology, MIND 24-7 The Modern Data Company simplifies how organizations manage, access, and interact with data using its DataOS (data operating system) that unifies data silos, at scale. It provides ontology support, graph modeling, and a virtual data tier (e.g. a customer 360 model). From a technical point of view, it closes the gap from conceptual to physical data model. Users can define conceptually what they want and its software traverses and integrates data. DataOS provides a structured, repeatable approach to data integration that enhances agility and ensures high-quality outputs. This shift from traditional pipeline management to data products allows for more efficient data operations, as each 'product' is designed with a specific purpose and standardized interfaces, ensuring consistency across different uses and applications. With DataOS, businesses can expect a transformative impact on their data strategies, marked by increased efficiency and a robust framework for handling complex data ecosystems, allowing for more and faster iterations of conceptual models. About The Modern Data Company The Modern Data Company, with its flagship product DataOS, revolutionizes the creation of data products. DataOS® is engineered to build and manage comprehensive data products to foster data mesh adoption, propelling organizations towards a data-driven future. DataOS directly addresses key AI/ML and LLM challenges: ensuring quality data, scaling computational resources, and integrating seamlessly into business processes. In our commitment to provide open systems, we have created an open data developer platform specification that is gaining wide industry support.

Read More

Big Data Management

data.world Integrates with Snowflake Data Quality Metrics to Bolster Data Trust

data.world | January 24, 2024

data.world, the data catalog platform company, today announced an integration with Snowflake, the Data Cloud company, that brings new data quality metrics and measurement capabilities to enterprises. The data.world Snowflake Collector now empowers enterprise data teams to measure data quality across their organization on-demand, unifying data quality and analytics. Customers can now achieve greater trust in their data quality and downstream analytics to support mission-critical applications, confident data-driven decision-making, and AI initiatives. Data quality remains one of the top concerns for chief data officers and a critical barrier to creating a data-driven culture. Traditionally, data quality assurance has relied on manual oversight – a process that’s tedious and fraught with inefficacy. The data.world Data Catalog Platform now delivers Snowflake data quality metrics directly to customers, streamlining quality assurance timelines and accelerating data-first initiatives. Data consumers can access contextual information in the catalog or directly within tools such as Tableau and PowerBI via Hoots – data.world’s embedded trust badges – that broadcast data health status and catalog context, bolstering transparency and trust. Additionally, teams can link certification and DataOps workflows to Snowflake's data quality metrics to automate manual workflows and quality alerts. Backed by a knowledge graph architecture, data.world provides greater insight into data quality scores via intelligence on data provenance, usage, and context – all of which support DataOps and governance workflows. “Data trust is increasingly crucial to every facet of business and data teams are struggling to verify the quality of their data, facing increased scrutiny from developers and decision-makers alike on the downstream impacts of their work, including analytics – and soon enough, AI applications,” said Jeff Hollan, Director, Product Management at Snowflake. “Our collaboration with data.world enables data teams and decision-makers to verify and trust their data’s quality to use in mission-critical applications and analytics across their business.” “High-quality data has always been a priority among enterprise data teams and decision-makers. As enterprise AI ambitions grow, the number one priority is ensuring the data powering generative AI is clean, consistent, and contextual,” said Bryon Jacob, CTO at data.world. “Alongside Snowflake, we’re taking steps to ensure data scientists, analysts, and leaders can confidently feed AI and analytics applications data that delivers high-quality insights, and supports the type of decision-making that drives their business forward.” The integration builds on the robust collaboration between data.world and Snowflake. Most recently, the companies announced an exclusive offering for joint customers, streamlining adoption timelines and offering a new attractive price point. The data.world's knowledge graph-powered data catalog already offers unique benefits for Snowflake customers, including support for Snowpark. This offering is now available to all data.world enterprise customers using the Snowflake Collector, as well as customers taking advantage of the Snowflake-only offering. To learn more about the data quality integration or the data.world data catalog platform, visit data.world. About data.world data.world is the data catalog platform built for your AI future. Its cloud-native SaaS (software-as-a-service) platform combines a consumer-grade user experience with a powerful Knowledge Graph to deliver enhanced data discovery, agile data governance, and actionable insights. data.world is a Certified B Corporation and public benefit corporation and home to the world’s largest collaborative open data community with more than two million members, including ninety percent of the Fortune 500. Our company has 76 patents and has been named one of Austin’s Best Places to Work seven years in a row.

Read More

Events