In the age of convergence, customer churn is a concern for service providers, challenging most retention techniques...
Language was invented by humans and not by computers. The complexity of any language with reference to a context is unfathomable. Here are some sample statements – “The bandage was wound around the wound”, “The farm was used to produce produce”, “We must polish the Polish furniture”, “The insurance was invalid for the invalid”, “Since there is no time like the present , he thought it was time to present the present”……..
With all the media attention advanced analytics has been getting as the mantra of success for businesses in the future one thing is now for sure that awareness has increased in leaps and bounds over the past 18 months. Managers within the enterprise are talking about big data and advanced analytics with a degree of knowledge that was lacking 5 quarters ago.
Data has been existent since time immemorial and human brains have been processing and analyzing data from cradle to grave in varied forms – on finger tips, abacus, tally, excel sheets, computational algorithms et al. I presume other living things around us do analyze data as well – a leopard hunting a gazelle at high speeds, formation flight of migratory birds, the precision swoop of an eagle to grab its prey etc. Does anyone out there know what technologies or algorithms they use?
There have been a lot of discussions doing the rounds globally about big data and its implications to the business world. Many companies are trying to build on this opportunity to enhance their revenues and increase shareholder value. Many surveys have been conducted in the recent past by many consulting companies and it is very clear that the marketing spends of many technology companies has made a dent with the spending population mainly the CIO’s. A good number of organisation have recognised the fact that they have a lot of data and that there is a need to put it to use to derive mind boggling insights that will alter the course of their business for the better.