Earlier this week, I read an article in a technology publication about several University of Washington professors who are launching a new course designed to overcome what they call “bulls**t in the age of big data.” The 160 seat seminar starts in late March and filled up in the first minute of online registration. The course covers the rush to apply machine learning algorithms to big data that is oftentimes corrupt and yielding less than accurate results. Beware of the overhyped big data and its potential for revolution, warned one of the professors.
Yesterday I posted a recent interview I did with a business development consultant, John Sydnor, who warned about the emerging challenge of ‘fake data.’
The throwback article for today I wrote on March 11, 2014 and in it I warn about questionable data (i.e. fake) and the failure by many Fortune 500 companies to exploit big data for competitive advantage (i.e. hype). I also give some advice for how to upgrade your big data inputs to get more strategic outputs and go from big data to knowledge.
CLICK HERE to read “Going Beyond Big Data To Knowledge.”
————————————————— Gary Drenik is CEO of Prosper Insights & Analytics, a company that prides itself on turning data into evidence-based solutions for the C-Suite. www.ProsperDiscovery.com
“We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.” – Plato
While struggling with the topic and content of this column, the trickle of underwhelming Brick & Mortar sales results from many retailers’ holiday season began to hit the press. Many of these retailers have only now seriously begun thinking about creating a sustainable business model for the future. For some the ship may have sailed. All of which got me thinking about an article I wrote for this column three years ago. It is just as relevant today as it was in 2014. So rather than beating my head against the wall trying to reinvent the wheel, here is the article from 2014, its warnings, and even prescriptions for a new retail marketplace. Continue reading…
Prosper Insights & Analytics™ has launched the Amazon Shopper Intelligence service which is part of Prosper’s competitive intelligence suite of products. This unique service provides essential insights missing from most retailers’ loyalty data, including encroachment by Amazon along with the reasons why. It also helps companies understand the merchandise categories in play and the discretionary dollars at risk. It is now more important than ever for retailers to understand the Amazon threat as the online giant works to further diversify their products and services. Continue reading →
Ever since the great recession of 2008, which seemed to surprise most economic prognosticators, it appears that there has been an increased interest in predictive analytics. Unfortunately, even with this new interest about the future, most predictions are wrong. Few, if any, seem to know where the economy is headed. Continue reading →
U.S. consumers have a brighter outlook for the short-term health of the economy, according to the latest Prosper data. The real question, however, is will it spring consumer spending? Deborah Weinswig, Managing Director, Fung Global Retail & Technology, has weighed in again this month on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Consumer Mood Index, and what they indicate about future spending. Continue reading…
The market continues its rocky ride. Deborah Weinswig, Executive Director, Head of Global Retail & Technology, Fung Business Intelligence Centre, has weighed in on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, and the Prosper Impulsivity Score and what they indicate about future spending. Continue reading…
This month, Deborah Weinswig, Executive Director, Head Global Retail & Technology, Fung Business Intelligence Centre, has provided comments on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Prosper Mood Index.
Prosper Consumer Confidence: At 42.5%, consumer confidence is down nearly four points month-over-month. This month’s reading represents a 15% decline from Jan-15 (50.1%) as well as a 13 month low. “With this survey fielded January 5 – January 12, concurrent with a 3.9% drop in the S&P 500, consumers no doubt were rattled by the week’s stock market performance and its negative impact on household wealth entering 2016,” according to Deborah Weinswig. “It is worth noting that continue reading…
Prosper Insights & Analytics Streamlines Information Flow For Faster Access And Better Decisions
Worthington, OH – 12/15/15
Top performing executives who wish to have key performance indicators available in real time will now get their wish granted by a new insight and analytic notification service from Prosper Insights & Analytics™. The new service streamlines the delivery of relevant, advanced analytics and insights by circumventing big databases to provide only the most important predictive analytics fast and directly via a notification to a smartwatch, tablet, mobile phone, or laptop. Continue reading →
With the holiday season in full swing, consumers seem to have a jollier economic outlook in November based on confidence and impulsivity readings. However, it is yet to be determined if the Paris attacks will weigh down consumer confidence in December. The November Spending Forecast (which represents consumers’ intended spending levels over the next 90 days) is up nearly two points from last year. This reading is an improvement over October’s forecast when year-over-year comparables were flat. Continue reading.
The October Spending Forecast (which represents consumers’ intended spending levels over the next 90 days) is up from last month—not surprising as we inch closer to the holiday season. However, the forecast is flat compared to last year indicating that consumers are heading into the holidays with similar purchase intentions as they had in 2014.
Key markers contributing to this current consumer mindset are confidence, happiness and impulsivity, which are all flat from last month. Lack of consumer enthusiasm coupled with an uncertain economy indicates continue reading.