Friday, September 30, 2016

DDD - The Move Away From Intuition

Data Driven Decision making is taking hold in large companies. Not all, but many. This according to a survey carried out by Harvard, Stanford and the US Census Bureau.

Companies have access to more data than at any time in history. They are learning to use it and finding that the quality of the decisions to be better than the largely intuitive decisions of the past. This applies in manufacturing, marketing and other areas. There is a growing preference in many organizations to make fact-based decisions rather than those based just on opinon. For a summary of this research, check this link.

Tuesday, September 27, 2016

The New/Old Role of Libraries

New research into the nature and role of libraries confirms that libraries are here to stay as a vital part of our communities and that they are changing forever. The days of libraries being built around rooms full of books are drawing to a close. The new libraries feature digital reading, classes in technology use, places to do research using computers and safe havens for study and contemplation.

A majority of survey respondents believe that libraries need to emphasize the use of technologies, like computers, tablets and smartphones. They include the use of 3-D printers among the skills that libraries should teach. They also believe that libraries can play a role of helping people to learn what information they can rely on, something increasingly difficult in this age of social media. Follow this link for the report on libraries 2016.


Monday, September 26, 2016

Free Predictive Analytics Software

Predictive Analytics is an increasingly useful tool for business to assess risks and opportunities in some organized fashion. It doesn't necessarily provide answers but can often offer useful insights. Free software can provide a inexpensive but potentially useful way to venture into the world of predictive analytics. Here is a summary of some of the more popular free software available, such as R, Orange, Rapidminder, Anaconda and others.

Wednesday, September 21, 2016

The Basics of Predictive Analytics

For those who are getting into predictive analytics, a useful article by Eric Seigel, founder of Predictive Analytics World, provides a number of definitions that are useful to understanding the basics of predictive analytics. Many applications of predictive analytics have emerged in recent years, including in auditing, finance, marketing and others. Some effort is required, such as reading , taking courses, etc, to gain a level of knowledge that enables useful applications. However, knowing the definitions of such terms as Predictive analytics itself, predictive models, uplift models, vast search and others is a starting point. The article can be found through this link.

Wednesday, September 14, 2016

How to Develop Your Data Analytics Skills

Data analytics is becoming important to established professionals in many fields. Others are viewing it as a new career opportunity. Indeed the demand for data analytics professionals is strong and growing. There are many opportunities to  develop or improve skills, including back to school, online courses, technical training, networking and the like. This recent article sets out a number of options and provides examples.

Friday, September 09, 2016

The Sharing, Collaborative and Gig Economy

Pew Research has released an interesting study on the new App-based Economy which reveals a number of splits in population usage of the new services. They focused primarily on ride-hailing, home sharing and crowdfunding apps. Issues explored involve jobs, regulation and the potential of a new digital divide. Uber, AirBNB and Kickstarter.

All are used by a low percentage of adults, and most have never heard of these apps. As one would expect, most users are relatively young - under 45 - and all of the services are evolving with new regulations.

The new digital economy is a permanent part of the landscape, and such research is fundamentally important for business and policy-makers.

See the report here.