Many economists say we are overdue for a recession. Despite a low unemployment rate and the economy’s longest expansion on record in the United States, experts in America and the World Bank point to trade wars and other globally financially risky situations as reasons for a dim forecast.
Analytics may not be able to tell you exactly when the economy might shift. However, data can certainly help an organization mitigate the impact of a recession by giving you the right information to better target the right market, save money, and increase profits.
In the 21st century, ads are getting smarter. The classic approach—trying to get an ad seen by as many people as possible—is no longer the most efficient or effective way to go. There are simply too many messages competing for everyone’s attention.
That’s why so many advertisers have turned their focus towards targeted advertising. By doing some research on potential consumers, businesses can direct their ads solely towards those who are likely to be interested in them. Having access to more customer data by using new methods like image recognition can boost your brand’s marketing and give you a crucial edge over your competition. (more…)
Around 2004, the term “Web 2.0” began to take off as a way of describing a foundational shift in the way that users interacted with the Internet. Web 1.0 describes the static interface of the 1990s with its lack of interoperability and sites mostly connected by hyperlinks. This was turned on its head with the rise of sites that were interoperable, easy-to-use, and promoted user content. This transformation, in conjunction with hardware changes like 2005’s iPhone, stimulated the growth of social media sites and apps. (more…)
As time goes by, we find ourselves exhibiting three behaviors: collecting, letting go, and welcoming change. It’s easy to become a collector and tuck away objects without realizing the inevitable cluttered chaos that will slowly emerge into our lives. We do it at home with knick-knacks that we stuff in our kitchen drawers, and we also do it at work with data that collects and never gets used. Whatever it is that you’re collecting, at some point you recognize that there is simply too much of it and it’s finally time to part ways.
In the Netflix show, “Tidying Up with Marie Kondo,” decluttering professional Marie Kondo talks about the KonMari method of cleansing. She encourages tidy hopefuls to keep “only those things that speak to the heart.” In other words, one should strive to become more mindful as to what they invest their time and dollars into and that we must truly re-think what we welcome into our living spaces. So how can you cleanse and reorganize your organization? Here’s how your team can use the six KonMari rules to tidy up your data.
The opioid epidemic that is sweeping the country is one of the most commonly discussed health crises in America. But what is baffling is how society simply cannot keep up with the death toll for which these powerful synthetic drugs are responsible.
According to the National Institute on Drug Abuse, in 2017, opiates were responsible for the deaths of over 47,500 Americans. To put these powerful drugs into perspective, heroin and prescription opiates are the lesser of the evils, as fentanyl can be up to “100 times more potent than morphine.” Of course, when the victims of this epidemic are already heavily addicted as a result of their dependency on physician-prescribed pills, the progression of the disease leads them to believe that fentanyl – the most powerful killer – is the most desired to obtain.
Many colleges and universities are focused on using data and analytics to help students succeed. But what does that look like in practice?
The answer is different depending on the schools. One thing they have in common, though, is that they rely on data that shows them which classes students are struggling in the most. Here are a few ways institutions of higher education have found success intervening on behalf of students who need help.
When it comes to incorporating technology into the wine industry, organizations have so many opportunities to apply analytics and technology. However, there is a huge discrepancy in terms of dollars invested towards IT.
Tweet: Understanding wineries’ top 3 IT priorities
A recent WBM Technology Survey by Wine Business Monthly magazine analyzes the top IT priorities for wineries based on various categories such as winery size, job function, and IT job function. Most wineries have the same top IT issue, which is “providing better data to our trade sales team.” Better data can result in gained insights into areas of the business and opportunities to spur company growth. Let’s examine how wineries can better understand their top priorities and implement the technology to support them. (more…)
In healthcare, the phrase “data-driven decision making” is a popular one, meant to describe how organizations integrate objective information to inform and improve all sorts of decisions. However, it’s an admittedly abstract concept.
Tweet: Data-driven decisions as a driver for change in healthcare
Exactly how can healthcare organizations use data to shape better decision-making? How do they sort through the deluge of healthcare data to find the insights that can truly effect change? Let’s see what practical steps we can learn from a Maryland healthcare system that used data-driven decisions to catapult itself from “worst to first” in quality.
Like many other industries in the U.S., the wine industry is currently experiencing a large change in its workforce. The traditional model in which generations of family members have managed the business is not sustainable for many wineries. Instead, they are now looking to millennials to fill roles, but in many cases, unsure of how to best utilize their talents.
Tweet: How business intelligence & millennials can give wineries a leg up
One issue is that many wineries still operate as “paper” businesses. This business model does not resonate with new, younger employees, and can prove to be inefficient. To best capitalize on the talents they have in front of them, wineries need to embrace new technology, including data analytics, to improve efficiency and productivity. Here, we’ll look at how they can do so. (more…)
In my last blog post, we looked at how healthcare organizations can bridge the gap between clinicians and IT. Communication and teamwork are critical to bridging that gap.
Tweet: How to assemble a winning healthcare analytics team
But how do you build that team? What roles do you need to fill? Here are 4 roles that are critical when you’re assembling your healthcare analytics team, keeping in mind that more than one of these roles might be filled by the same person. (more…)