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Will GST Boost The Big Data Revolution? The Answer lies Within

It is July 1st, 2017 – the epic day when GST, aka The Goods and Services Tax comes into effect, simplifying the whole tax collection procedure of the nation. From today, there will be a single tax on the supply of goods and services that will replace all other state and central levies. GST is pegged to be one of the most impressive economic tax reforms implemented by PM Narendra Modi to take Bharat to the summit of transparent digitization.

 
Will GST Boost The Big Data Revolution? The Answer lies Within
 

Data is crucial. While it ushers in a greater transparency and simplified tracking through data, it also unleashes the requirement for Data Analytics and ERP solutions. Besides, GST includes several billing software and payment gateway channelization, triggering plenitude of job opportunities in the IT sector. Reports say it is going to be a $1 billion opportunity for IT vendors over the next two years. Quite a lot to think about!

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Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data

Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data

 

Bored of the same old fitness routine?

 

This International Yoga Day, dust off your yoga mat and take a holistic approach to health and wellbeing. Continue reading “Celebrate #InternationalYogaDay: Get the Most Out of Yoga from Big Data”

More Than Fifty Percent Companies Lack Required Tools and Investment for Efficient Business Analytics

More Than Fifty Percent Companies Lack Required Tools and Investment for Efficient Business Analytics

Fifty-nine percent of the companies around the world are not using Predictive Models or Advanced Analytics – says Forbes Insights/Dun & Bradstreet Study.

A recent study by Forbes Insights and Dun & Bradstreet, “Analytics Accelerates Into the Mainstream: 2017 Enterprise Analytics Study,” elucidates the ever-increasing indispensable role that analytics play in today’s business world, all the way from devising strategies to operations. The gloomy Forbes study highlights the crucial need for immediate investment, implementation and prioritization of analytics within companies.

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The survey was carried on more than 300 senior executives in Britain, Ireland and North America and the report illuminates that the leading corporate giants need to invest more on the people, the processes they use and technologies that authorize decision support and decision automation.

Bruce Rogers, chief insights officer at Forbes Media was found quoting, “This study underlines the need for continued focus and investment,” he further added, “Without sophisticated analysis of quality data, companies risk falling behind.”

“All analytics are not created equal,” said Nipa Basu, chief analytics officer, Dun & Bradstreet.  She explained, “This report shows a critical opportunity for companies to both create a solid foundation of comprehensive business data – master data – and to utilize the right kind of advanced analytics. Those that haven’t yet begun to prioritize implementation of advanced analytics within their organizations will be playing catch-up for a long while, and may never fully recover.”

 

Key findings revealed:

Need for tools and best practices

Though data usage and consumption growth brags about success, little sophistication is observed in how data are analysed. Only 23% of the surveyed candidates are found to be using spreadsheets for all sorts of data work, while another 17% uses dashboards that are a little more efficient than spreadsheets.

The survey says mere 41% rely on predictive models and/or advanced analytical and forecasting techniques, and 19% of the respondents implement no analytical tools that are more complicated than fundamental data models and regressions.

Skill deficiency stalling analytics success

Twenty seven percent of respondents diagnosed with skill gaps as a major blocker between current data and analytics efforts. Fifty two percent were found to be working with third-party data vendors to tackle such lacks of skills. Moreover, 55% of the surveyed contestants said that third-party analytics partners performs better than those who works in-house, exhibiting both a shortage of analytics capabilities among in-house analysts and a dearth in skilled workers.

Investment crunch

Survey respondents ticked lack of investment and problems with technology as the top hindrances to fulfilling their data strategy goals. Despite the increasing use of data, investment in deft personnel and technology is lagging behind.

CFO’s introspect into data for careful insights

According to the survey, 63% of those who are in the financial domains shared they are using data and analytics to discover opportunities to fund business growth. Further, 60% of the survey respondents revealed they rely on data to boost long-term strategic planning.

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When Machines Do Everything – How to Survive?

In the coming years, jobs and businesses are going to be impacted; reason AI. Today’s generation is very much concerned about how the bots will consume everything; from jobs to skills, the smart machines will spare nothing! It is true that machines are going to replace man-powered jobs – by using robots, mundane jobs can be performed in a flick of an eye freeing people working in bigger organisations to innovate and succeed.

 

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Concocting Data with GIS

Concocting Data with GIS

In supreme and sophisticated geospatial realm, data have been predominant. Or, should I say it is the matured fosterling of Geographic Information Systems (GIS). Choose, whatever suits you; subject to whom you work for or what you need to work on. The meat and potatoes? To excel on location analytics, concentrate only on the best most current data.

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In today’s world, data is valuable. It is vital and veritable. It is indispensable in Geographic Information Systems (GIS).

To second that, today’s tech-efficient society is anchored on location-based data, than ever, especially with the rise in Twitter, Google, Facebook and other social media apps, which collects and stores data from their highly-valued users to sell them off to money-grubbing advertisers.  Though secretly. On the other hand, cell phones go a step ahead in broadcasting your current location data 24/7. Otherwise, how would your friends know that you are safe when a severe earthquake rattled your neighbouring city! (Thanks to location settings)

Feisty Predicaments

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However, the real challenge lies in data identification and consumption. Countless number of users gets baffled when it comes to finding data, and if found, how to consume it to set off their business determinations. To solve this, many imminent think tanks of tech industry came out with direct and decisive solutions. Some of them were loaded with an abundance of data, i.e. digestible and disintegrated. By disintegration, they meant that the data was categorized into: points of interest, roads, boundaries and demographics, for easy comprehensibility. Furthermore, industry data bundles concerning telecommunications, retail and insurance fields were added to make the coverage global and profitable. To top it off, quality content and sprawling file formats boosted the results and mechanisms, both.

Conflux of GIS and BI

Location technology – Does this ring a bell? Yes? Then you would be familiar with GIS but others, particularly new Business Intelligence users and consumers must have just started taking baby steps on basic mapping. For BI, maps are the backdrop against which business analysts project their business data, stats and analytical information. Analysing the data to understand the insights of consumers is crucial, directly affecting the business decisions and revenues thereby. For example, heat maps, used to see the concentration of installations, customers and IoT devices provides an unparalleled accurateness of spatial relationships, which is impossible to obtain from the spreadsheets.


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One of the integral location analytics issues is to help in identifying the high-risk zones at the time of natural disasters, like tornadoes, earthquakes, floods, hurricanes or mudslides. For example, in the US, the East Coast is vulnerable to a lot of hurricanes and floods, whereas earthquakes and mudslides snap the West Coast time to time. Assessment of these location problems is intrinsically important for mortgage underwriters, insurance agents and public safety departments. And best data along with effective geo-coding is the solution to all the inconveniences. 

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Take Small Steps With Big Feet of Business Analytics

Take Small Steps With Big Feet of Business Analytics

Do these following questions clog your mind?

I aspire to become a business analytics professional, but I don’t know what skills to possess?

I am sceptical; which training should I opt for in order to establish my career in the sphere of business analytics?

I am looking forward to switch my career into data analytics, but I don’t know which skills to imbibe for better prospects?

Answer: Yes, they do.

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Are you taking care of your digital self?

Whether you like the idea or not, we all have a digital self, a facade that we put on to engage and participate in the technological world! As per psychoanalysts and physicians, a theory proposed by them says that there is a ‘true self’ that is the instinctive core of our personality, it must be realized and nurtured. And there is also a ‘false self’ that is built to protect this true self. From what you ask? From the dangers of insults and vulnerabilities!

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Our true selves are usually complex and fragile but it ultimately remains to be our essence. In trying to share that self with the world, we send out our decoy selves to take on the day-to-day vulnerabilities, challenges, and anxieties that come forth.

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A Few Key Business Analytics Tricks Every Manager Must Know

The main objective behind using any analytics tool is to analyze data and gather commercially relevant and actionable insights to accelerate results and performances of any organization. But currently there are a variety of tools available so, it often becomes difficult for managers to know which ones to use and when. You may be considering an online certificate in business analytics so reviewing and understanding these key tools may be of great value.

 

A few key business analytics tricks every manager must know

 

So, we thought you may want to know a few of the key analytics tools in use today and how they can be helpful for different business organizations.

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Are You a Student of Statistics? – You must know these 3 things

Are you a student of statistics?

We a premiere statistical and data analysis training institute offering courses on Big Data Hadoop, Business intelligence and Ai. We asked our faculty to tell us the three most important things that every student of elementary statistics should know.

So, let us get on with it:

  1. The notion that statistics is about numbers, is in the context only: statistics involves a rich treasure trove of numeric and graphical representation of displaying data to quantify them also it is very important to be capable of generating graphs along with numbers. But that is not the half part of statistics and the main interesting aspect is related to making the big leap from numbers and graphs to the realistic worldly interpretations. Uncannily statistics also poses to be a fascinating philosophical tension raising the question and healthy skepticism about we believe in and what we do not.
  2. The analysis part is not the most crucial part of a statistical study, the most important part lies with the when, where and how of gathering the data. We must not forget when we enter each number or data, calculate and plot the strategies we build on our understanding, but many a times at the time of interpretation that each every graph, data or number is a product of a fallible machine, be it organic or mechanical. If we are able to take proper care at the stage of sampling and observation we will be able to obtain great dividends at the final stage of interpretation and analysis of all our statistical efforts.
  3. All statistical functions off all kinds of mathematical sciences are based on a two-way communication system. This communication system should be between the statistician and non-statistician end. The main aim of statistical analysis is to put forward important social, public and scientific questions. A good statistician knows how to communicate with the public especially with those who are by and large not statisticians. Also the public here plays an important role and must possess simple idea of statistical conclusions to grasp what the statisticians have to say to them. This is an important criterion to be incorporated in the K-12 and college curriculum for elementary statistical students.

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If you agree with our views and would like to discuss further on statistics and its application on data analysis then feel free drop by DexLab Analytics and stay updated on the latest trends in data management and mining.

 

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