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Big Data Analytics and its Impact on Manufacturing Sector

Posted on December 29, 2016July 18, 2018 by Dexlab

It is no new news that the Big Data and software analytics have had a huge impact on the modern industries. There are several industry disruptors that have surfaced in the past few years and totally changed the lives of all connected humans. Like Google, Tesla and Uber! These are the companies that have used the long list of benefits presented to us by Big Data to expand and infiltrate newer markets, they have helped themselves improve customer relations and enhance their supply chains in multiple segments of market.

As per the latest IDC Research projects the sale of Big Data and analytics services will rise to USD 187 billion in 2019. This will be a huge leap from the USD 122 billion which was recorded in 2015. A major industry that stands to benefit greatly from this expansion which is the manufacturing industry, with the industry revenue projections ranging to USD 39 billion by 2019.

The industry of manufacturing has come a long way from the age of craft industries. But back then, the manufacturing process involved a slow and tedious production processes which only yielded limited amounts of products.

The effects of Big Data Analytics on the Manufacturing sector:

Automated processes along with mechanization have resulted in a generation of large piles of data, which is, much more than what most manufacturing enterprises know what to do with them.

But such data can yield beneficial insights for the manufacturing units to improve their operations and increase their productivity. Here are a few notable ones:

Image Source: mckinsey.com

Savings in cost:

Big data analytics can really help transform the manufacturing process and revolutionize the way they are carried out. The obtained information can be used to reduce the cost of production and packaging during manufacturing. Moreover, companies which implement data analytics can also reduce the cost of transport, packaging along with warehousing. This is in turn can help inventory costs and return i huge savings.

Improvement in safety and quality:

A lot of manufacturing companies are now making use of computerised sensors during the production to sift through low quality products while on the assembly line. With the right software analytics enterprises can use the data generated from such sensors to improve the quality and safety of the products instead of simply throwing away the low quality products after the production.

Image Source: blogs-images.forbes.com

Tightening up the workforce efficiency:

They can also use this data to improve management and employee efficiency. Big data analytics can be used to study the error rates on the production floor and use that information to analyse specific regions where employees are good when they perform under pressure.

Moreover, data analytics may help to speed up the production process n the production floor. S will be especially useful for large firms, which work with large volumes of data.

Better collaboration:

A great advantage of having an IT based data collection and analysis infrastructure is improved information movement within the manufacturing organization. The synergy of flow of information within the management and engineering departments as well as in the quality control sector and between the machine operators and other departments of the company helps them work more efficiently.

The manufacturing industry is much more complex than any other industry, which have implemented the big data analytics. Companies must effectively time the implementation of this software so that there are no losses. And should also pay attention as to from where they can mine the data and the right analytics tools to use for producing feasible and actionable results.

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Governance is Planning To Drive Compliance With GDPR

Posted on December 27, 2016December 12, 2019 by Dexlab

The companies’ data governance program is usually linked to the implementation of the General Data Regulation Program. And throughout time several articles have been written about to link the two initiatives but till none was so clearly distinct as the recent one on LinkedIn by Dennis Slattery. He made an analogy of a wedding between Governance and Privacy, which is very fitting but also highlights the fact that, a long term marriage with optimum success is based on the foundations that strengthen it with mutual efforts.

We can also take a similar message from the famous quote by Henry Ford – coming together is just the beginning, keeping together is actual progress, and working together is success.

Data analytics should tie its hands with privacy policies for a successful approach towards good business.

So, how can we make this marriage successful?

The GDPR regulation is quite clear on what it states, about things that must be done in order to protect the Data Citizen’s Rights. However, the bigger question most companies are facing is how to comply with regulations and/or go beyond the bare minimum and let GDPR work for them.

Majority of such discussions around the topic of how to implement GDPR today are focussed on one of two approaches – either top down or bottoms up. But we would argue otherwise, as these two approaches are not mutually exclusive and that a successful implementation of the GDPR must be based on a combination of these complementary approaches.

For the top down approach, the team for GDPR will reach out to the businesses to get a clear understanding of all business (data) processes, which involve either one or another. And for each of these processes like for third party credit checks, data analytics, address verification, and much more there are several attributes which must be clarified. Like for instance:

Have they acquired consent for the particular process?
What is the business purpose for the collection?
Who is the controller?
Who is the processor?
Who is responsible as the Data protection officer?
What is the period for retention of data?
What type of data is collected?
Along with several other information

However, it must be noted that this is not a one-time effort, once all the processes related to the personal data have been identified and classified they will still be needed to be maintained as the organization grows and evolves with development in its infrastructure over time.

The bottom up approach is a little more technical in nature. The businesses that have already established metadata management tools can then use these technologies to identify personally the identifiable information (PII) and then try and classify these data elements and assign the relevant attributes for GDPR. This approach shall quickly hit a bottleneck as the same data can be utilized for several business purposes and thus, cannot be classified for GDPR.

With successful implementation of the GDPR we will be able to marry both the approaches well.

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We Are Training Snapdeal on Data Science with R

Posted on November 11, 2016November 11, 2016 by Dexlab

With the Big Data boom within the IT industry worldwide, more and more online retailers are using it to create better shopping experience for their customers through a boost in customer satisfaction to generate better revenue for themselves.

We Are Training Snapdeal on Data Science with R — Dexlab Analytics is Conducting Training for Snapdeal in Data Science and R Programming

The funny news about Target knowing about a young lady’s pregnancy even before the father could was a viral content that sent the internet crazy. But how did they know this?

The answer lies in the wizardry of data analysis, as when a lady starts searching to buy products like nutritional supplements, unscented beauty products and cotton balls then there is a good chance that she is pregnant.

For More Information Visit Now www.prlog.org at Dexlab Analytics is Conducting Training for Snapdeal in Data Science and R Programming

Continue reading “We Are Training Snapdeal on Data Science with R”

How To Stop Big Data Projects From Failing?

Posted on November 8, 2016December 26, 2017 by Dexlab

Here in this post we will discuss with inspiration from the views of insider experts about how Big Data teams and IT personnel can make sense from the right kinds of data which will ultimately allow executives to make smarter business choices and drive results for their business.

The amount of data that has been created in the last two years is much more than the amount that has been created in the entire previous history of our human kind. This has led to an explosion of data analyst training institutes popping up every now and then and welcoming students from diverse backgrounds. Continue reading “How To Stop Big Data Projects From Failing?”

Why Getting a Big Data Certification Will Benefit Your Small Business

Posted on October 25, 2016December 19, 2017 by Dexlab

Do you know how much data is currently produced globally every year?

As per the reports published by IBM, the figures are 2.5 QB (Quintillion Bytes). The numeric representation of the same looks as: 2,500,000,000,000,000,000. And we thought that our mobile devices with 64GB memory space are capable of storing huge data.

Increasing reliance on Big Data

As technology is expanding at the speed next to light, more companies are planning to invest in Big Data platforms for getting the best out of it. Gartner Inc. had conducted a research recently among 437 global organisations across different industries and figured out that more than 75% of them are looking forward to the benefits they can derive from Big Data. The purpose for using Big Data varied to some instance across these organisations, however most of the companies were found to use data analytics for enhancing their customer service segments. Recently, security breach has hit the headline more often than global warming and that has been a factor of worry for many data driven companies. Thus, they are opting for Big Data tools in order to strengthen their online security. Continue reading “Why Getting a Big Data Certification Will Benefit Your Small Business”

Big Data is the New Obsession of Small Business Owners

Posted on July 13, 2016July 27, 2018 by Dexlab

While this may seem somewhat counterintuitive, but instead of large organizations, it is actually small business owners and midsize companies who tend to be more inclined towards the applications of Big Data. They are also the first to adopt these latest technological innovations of which analytics is no exception – as these internet and data based insights are highly accessible and also affordable for SMBs.

As per the researchers in the fields of technology, the entry level capabilities in such fields like analytics has abruptly dropped which is why almost all types of industries from an array of sectors are engaging with them to enhance their competitiveness; and the wheels have already started to roll when it comes to increasing overall global competitiveness. Continue reading “Big Data is the New Obsession of Small Business Owners”

Big Data Hacks: 5 Amazing Free Data Sources

Posted on May 17, 2016July 17, 2018 by Dexlab

With the data explosion revealing a continuum of numbers and facts and figures across the web and across businesses, it is of no doubt that data is omnipresent. But as the saying goes, sometimes it is hard to see the forest due to all the trees. A big myth among several companies is that they need to hire data analysts to look for their own data for analysis and to reap the benefits from Big Data analytics. But you must realize that this is far from the truth.

There are more than hundreds in fact even thousands of free data sets available for analysis and use for those who are smart enough to know where to look for them. Here is a list of 5 most popular free data set sources that are widely used globally. There are several more out there for those who are keen enough to look for them.

Data.gov: in compliance to the promise made by the US government last year all the government data is available for free on the internet in this site. The site is a useful source of information on everything starting from numbers in association to crime to climate change and much more.
Socrata: another great place to get scoop on the latest government related data along with some useful visualization tools that come built into the web portal.
org another place to access government data for free. One can get access to government data from the US, Canada, EU, CKAN and more.
World Health Organization data portal: a place to access all the statistics of hunger, health and disease of the world can be accessed here.
FaceBook Graph: FaceBook over the past few years has tightened their security and privacy settings. But there are still some amounts of data open to eyes without any privacy. And FaceBook provides information and access to all this data with their Graph API. While users may not be happy to share them with the world, they probably have not yet figured out how to hide them.

A bonus free data source that could also be fun to explore.

Face.com: get face recognition data with this fascinating tool and analyze possibilities like the creator.

These days a lot of forward thinking companies are trying to data driven, but they may not have ample resources to get their own data right away. So, it may be a good idea to begin with these publicly available free data sources. The best tip for data scientists is to learn to ask the right questions to get the right answers.

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A few easy steps to be a SUCCESSFUL Data Scientist

Posted on May 3, 2016October 26, 2019 by Dexlab

Data science has soared high for the past few years now; sending the job market into turbo pace where organizations are opening up their C-suite positions for unicorns to take their mountainous heap of data and make sense of it all to generate the big bucks. And professionals from a variety of fields are now eyeing the attractive position of data analyst as a possible profitable career move.

We went about questioning the faculty at our premiere data science and excel dashboard training institute to know how one can emerge as a successful data scientist, in this fast expanding field. We wanted to take an objective position from a recruiter’s point of view and create a list of technical and non-technical skills which are essential to be deemed an asset employee in the field of data science.

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A noteworthy point to be mentioned here is that every other organization will evaluate skills and knowledge in different tools with varying perspectives. Thus, this list in no way is an exhaustive one. But if a candidate has these songs then he/she will make a strong case in their favor as a potential data scientist.

The technical aspects:

Academia:

Most data scientists are highly educated professionals with more than 88 percent of them having a Master’s degree and 46 percent of them have a PhD degree. There are exceptions to these generalized figures but a strong educational background is necessary for aspiring data scientists to understand the complex subject of data science in depth. The field of data science can be seen in the middle of a Venn diagram with intersecting circles of subjects like Mathematics and Statistics 32%, Engineering 16% and Computer Science and Programming 19%.

Knowledge in applications like SAS and/or R Programming:

In depth knowledge in any one of the above tools is absolutely necessary for aspiring data scientists as these form the foundation of data analysis and predictive modeling. Different companies give preference to different analysis tools from R and SAS, a relatively new open source program that is also slowly being incorporated into companies is Hadoop.

For those from a computer science background:

Coding skills in Python – the most common coding language currently in use in Python. But some companies may also demand their data scientists to know Perl, C++, Java or C.
Understanding of Hadoop environment – not always an absolute necessity but can prove to be advantageous in most cases. Another strong selling point may be experience in Pig or Hive. Acquaintance with cloud based tools like Amazon S3 may also be advantageous.
Must have the ability to work with unstructured data with knowledge in NoSQL and must be proficient in executing complex queries in SQL.

Non-technical skills:

Impeccable communicational skills so that data personnel can translate their technical findings into non-technical inputs comprehensible by the non-techies like sales and marketing.
A strong understanding of the business or the industry the company operates in. leverage the company’s data to achieve its business objectives with strong business acumen.
Must have profound intellectual curiosity to filter out the problem areas and find solutions against the same.

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The Most Important Algorithms Every Data Scientist Must Know

Posted on April 26, 2016May 23, 2020 by Dexlab

Algorithms are now like the air we breathe; it has become an inevitable part of our daily lives and is also included in all types of businesses. Experts like Gartner has called this age as the algorithm business which is the key driving force that is overthrowing the traditional ways in which we do our business and manage operations.

In fact the algorithm boom with uber diversification has reached a new high, so much so that now each function in a business has its own algorithm and one can buy their own from the algorithm marketplace. This was developed by algorithm developers at Algorithmia to save the precious time and money of business operators and other fellow developers and offers a plethora of more than 800 algorithms in the fields of machine learning, audio and visual processing and computer vision.

But we as data enthusiasts in the same field with an undying love for algorithm would like to suggest that not all the algorithms from the Algorithmia marketplace may be suitable for your needs. Business needs are highly subjective and environment based. And things as dynamic as algorithms can produce different types of results even in the slightly different situations. Also the use of algorithms depends on a number of factors on how they can be applied and what results one can expect from their application. The variables on which the application of algorithms depends are as follows: type and volume of the data sets, the function the algorithm will be applied for and the industry in which the algorithm will be applied.

Hence, not always reaching for the easy option of buying a readymade algorithm off the shelf and simply tweaking it to fit into your model may not always be the most cost-effective or time saving way to go. So, it is highly recommended for data scientists to educate themselves well on the most important algorithms that must be known by them, as well as the back of their hands. A data scientist must also know how each algorithm is developed and also which purpose calls for which algorithm to be applied.

So, our experts associated with DexLab Analytics developed an infographic to let big data analysts know the 12 most essential algorithms that must still be included in the repertoire of a skilled data scientist. To know more about data science courses drop DexLab Analytics and find your true data-based calling.

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