Small and medium-sized businesses (SMBs) are often challenged to satisfy all the roles and responsibilities in the organization, and most team members wear more than one hat. That feeling of being overstretched is typical of growing businesses and, in an increasingly competitive market with businesses fighting for skilled resources, it is difficult to meet budget […]
Small and Medium-Sized Businesses Need Self-Serve Advanced Analytics
If your small or medium-sized business (SMB) is looking for ways to improve forecasting, problem-solving, and market opportunities, it must embrace self-service advanced analytics that allow business users to leverage their role, their knowledge of their business function, and their collaborative initiatives to gather, analyze, and share information and improve business results. According to Gartner, natural […]
Data Democratization: Think of It as Home Renovation
The focus of this article is on data democratization within the business enterprise, but the concepts and approaches involved in implementing this type of initiative are worth considering for any kind of major change within an organization. When thinking about business environments – how they are established and how they evolve – it is often […]
What Is SVM Classification Analysis and How Can It Benefit Business Analytics?
This article provides a brief explanation of the SVM classification method of analytics. What Is SVM Classification Analysis? SVM classification is based on the idea of finding a hyperplane that best divides a dataset into predefined classes. The goal is to choose a hyperplane with the greatest possible margin between the hyperplane and any point […]
What Is the Karl Pearson Correlation and How Is It Useful for Enterprise Analysis?
Click to learn more about Kartik Patel. This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business. Correlation is a statistical measure that indicates the extent to which two variables fluctuate together. A positive correlation indicates the extent to which those variables increase or decrease in parallel. A […]
Self-Serve Advanced Analytics Offers a Collaborative, Empowered Environment
Click to learn more about author Kartik Patel. The use of business intelligence and business analytics is growing in every industry and business function and in companies of every size. In fact, 48% of small and medium-sized enterprise (SME) CIOs responding to a Gartner survey revealed that business intelligence (BI), data, and analytics is one […]
Four Things About Digital Transformation That Will Affect Business Team Members
Click to learn more about author Kartik Patel. If your business is trying to decide whether to launch a digital transformation initiative, you may be wondering how this effort will affect your team members. Will your team perceive this effort as adding work to their already heavy workload, or resent having to learn new systems […]
What Is Binary Logistic Regression and How Is It Used in Analysis?
In this article, we will discuss the Binary Logistic Regression Classification method of analysis, and how it can be used in business. What Is Binary Logistic Regression Classification? Logistic regression measures the relationship between the categorical target variable and one or more independent variables. It is useful for situations in which the outcome for a […]
What Is KNN Classification and How Can This Analysis Help an Enterprise?
Click to learn more about author Kartik Patel. In this article, we will discuss the KNN Classification method of analysis. What Is the KNN Classification Algorithm? The KNN (K Nearest Neighbors) algorithm analyzes all available data points and classifies this data, then classifies new cases based on these established categories. It is useful for recognizing patterns […]
What Is Naïve Bayes Classification and How Is It Used for Enterprise Analysis?
Click to learn more about author Kartik Patel. What Is Naïve Bayes Classification? Naive Bayes is a classification algorithm that is suitable for binary and multiclass classification. It is a supervised classification technique used to classify future objects by assigning class labels to instances/records using conditional probability. In supervised classification, training data is already labeled with […]