Business intelligence (BI) refers to the process of collecting, analyzing, and interpreting business data to unlock business potential. In 2023, business intelligence plays a crucial role in the growth and success of global businesses, providing benefits that help them gain a competitive edge. BI tools assist business leaders in making data-driven decisions and provide them […]
Developing a Digital Transformation Framework
In today’s world, digital transformation is no longer an option. Instead, it is a necessity for businesses to stay competitive. The rapid pace of technological advancements, coupled with changing consumer behavior and expectations, has forced companies to rethink their strategies and embrace digital transformation. In fact, a recent study by McKinsey & Company found that […]
Data Science vs. Machine Learning vs. AI
In the data economy, data is king. Today, any business – small, medium, or large – thrives on its data assets. The recent trend of offering data-driven insights as a service has opened up a profitable revenue channel for businesses. Cloud computing and hosted analytics have brought data-as-a-service to the desktops of ordinary business users, […]
9 Key Data Management Principles and Practices
Business leaders often make corporate decisions in haste, based on data that is neither thoroughly analyzed nor understood. This can pose a serious threat to data-driven decision-making. Additionally, businesses risk losing a competitive edge by not following important business analytics practices. To get the full benefit of data-centric activities, businesses must follow several core Data […]
Are Data Scientists Needed in the Self-Service Analytics World?
As the world becomes increasingly data-driven, businesses are turning to self-service analytics to enable business users to perform their own data analysis tasks. In self-service analytics, business users can access and analyze data without assistance or support from IT personnel or data scientists. Direct access to ML-powered analytics platforms allows them to make better business […]
Common Types of Cloud Computing
Before the cloud era, businesses had to rely on in-house data centers and internal hardware and software infrastructures to conduct online business. Organizations had to make substantial investments to set up their websites and networks. Additionally, each business had to hire the right people to manage and monitor their infrastructures. This approach not only added to the […]
Fundamentals of Prescriptive Analytics
Prescriptive analytics uses historical data to find the best course of action for the future. In a way, prescriptive analytics combines elements from both descriptive and predictive analytics to arrive at actual solutions. The increased preoccupation with everything “data” is now a mainstream trend. The analytics market is expected to reach $190 billion in 2023, growing […]
Data Warehouse vs. Data Lakehouse
The phrase “data warehouse vs. data lakehouse” offers an exciting topic for ongoing debate in the global Data Management world. While businesses have relied on traditional data warehouses for storing structured and semi-structured data for years, the more recent technological solution of the data lakehouse is growing in importance because of its unique ability to provide structure to raw data. […]
Data Fabric Use Cases
Data is expanding in volume, variety, and sources; therefore, so is the business need for trustworthy, accurate, and timely data for on-demand “competitive intelligence.” Data fabric use cases offer a long-range technological solution for handling the myriad challenges that come with such a complex data ecosystem. This “converged platform,” designed with a unique architecture and […]
Machine Learning 101
Machine learning (ML) is a subfield of AI that helps train machines to make decisions or complete tasks independently by studying and learning from data. Machine learning enables computers to learn, understand, and make decisions or perform tasks like humans without explicit programming. Machine learning includes the process of building mathematical models from sample historical data […]