A Gartner study revealed that by 2025, data stories are likely to be the most widespread method of consuming analytics, and 75% of data stories will be automatically generated through augmented analytics. Experts in the industry opine that while there is no dearth of data in the world today (in fact, by 2025, the amount… Continue reading Dashboards to Decision Boards: Heralding in NextGen Analytics Consumption
Topic: Data Science Consulting
The Rise of Consumer Data Privacy: Next Steps for Retail
With consumers’ preferences for online shopping encouraged further by the pandemic, and everyday interactions and transactions going online, the sheer volume of data generated has doubled as a gold mine for retail businesses to tap into. In fact, according to a 2021 study, 72% of consumers mentioned that they browsed and shopped for apparel online,… Continue reading The Rise of Consumer Data Privacy: Next Steps for Retail
Six Ways to Leverage Data Analytics in HR
Employee retention: According to recent studies, the cost to replace an employee could be over 200% of their annual salary [1]. By analyzing and relying on historical data, trends & patterns, managers can identify employees at risk of leaving and the impending reason, with a degree of certainty [2]. A recent survey showed that ML can be… Continue reading Six Ways to Leverage Data Analytics in HR
Signs That Your Retailing Business is in Dire Need of a Customer Data Platform
What is a Customer Data Platform? A Customer Data Platform (CDP) is a single unified platform containing customer data collated from multiple sources. It can be integrated with existing data systems and helps map customer data with contextual data to deliver personalized customer experiences. CDPs are different from customer relationship management software which typically use… Continue reading Signs That Your Retailing Business is in Dire Need of a Customer Data Platform
Seven Ways to Leverage Data Science in the Banking Industry
Data-driven sales initiatives: Personalized, customer-centric sales and marketing efforts yield better ROI than a one-size-fits all approach. However, studies have shown that 94% banking firms fail to deliver on their promise of personalization.[1] With data and analytics-driven initiatives, banks can gain access to extensively segmented customer demographics, and target marketing initiatives by mapping products, offers, cross-selling… Continue reading Seven Ways to Leverage Data Science in the Banking Industry
How Can Companies Enhance Their CRM Initiatives with Augmented Analytics?
Delivering top-notch consumer service is undoubtedly the priority of every business. In order to ensure that consumers are delighted with products and services on offer, having a robust voice of customer analysis, i.e., a detailed analysis of consumer preferences and feedback is important. Customer feedback has also proven to be pivotal to operational success and… Continue reading How Can Companies Enhance Their CRM Initiatives with Augmented Analytics?
Predictive Analytics: Unlocking New Avenues for Public Transportation
According to recent research from Valuates, the global smart transportation market is set to grow at a CAGR of 8.3% from 2021–2026, reaching a value of $121 million by the end of the forecast period.[1] One of the factors contributing to this growth is increasing government investment in smart cities and intelligent transport systems (ITSs), requiring… Continue reading Predictive Analytics: Unlocking New Avenues for Public Transportation
Reimagining Premium Retail Brands in a Post-COVID World
A BBC report revealed that “Retailers suffered their worst annual sales performance on record in 2020, driven by slump in demand for fashion and homeware products,” and that the sales records were the worst in 25 years. [1] From fluctuating consumer behavior to disruption in supply chain and a drastic fall in demand for premium products, companies… Continue reading Reimagining Premium Retail Brands in a Post-COVID World
How Does Analytics Unlock the Optimum Benefits Of 5G For the Transportation Industry?
5G, the most recent update in cell networks unlocks a plethora of connectivity upgrades from reducing instances of lagging to enabling enhanced device-to-device collaboration, real-time. 5G is estimated to have a lag only of 1 millisecond, which is about 50 times faster than 4G. [1] Therefore, the extent of the potential it can unlock is immense and… Continue reading How Does Analytics Unlock the Optimum Benefits Of 5G For the Transportation Industry?
How AI is Augmenting Cybersecurity for the BFSI Industry
According to the World Economic Forum’s Global Risks 2021 report, cybercrime ranks among the top threats to the global community, alongside pressing concerns such as climate change and natural disasters, and livelihood crises. In fact, 39%, 53%, and 50.2% of the 2020 Global Risks Perception Survey’s respondents named cybersecurity failure as short-, medium-, and long-term… Continue reading How AI is Augmenting Cybersecurity for the BFSI Industry