Simply accumulating and analyzing data is not enough. To remain competitive most businesses recognize that getting insights from their data is critical to navigating the business world and establishing a winning strategy. Business Intelligence (BI) software, or a mash-up of in-house solutions, often promise to unlock a “tidal wave of insights” but the reality is that most businesses still struggle to make sense of their data and create value with their big data investments. Forrester reports 74% of firms say they want to be “data-driven,” but only 29% are successful at connecting analytics to action.
At NTENT we have faced similar issues with our internal data and the data we use to solve complex problems for our clients. Your businesses may be connected to an abundance of intelligent tools used to measure performance, but without good analytical skills and meaningful data points, the simple process of understanding the customer can be a complex challenge. With useful search and voice data insights, businesses and marketers stand a better chance of driving engagement, operational efficiencies, and revenues.
The following articles will help business leaders, brand managers, and data analytics teams design a data strategy that collates data across multiple touchpoints including data profiling, to deliver better customer experiences.
Big Data or Small Data? The Correct Answer is Both
In the current era of big data, content is collected in massive, steady, heterogeneous streams from human-related sources. Characterized by volume, variety, and velocity, big data is not only large, it’s diverse and produced quickly. Main sources range from computer networks, social media activity and browser history to sensor technology and commercial transactions. In this article, Dr. Ricardo Baeza-Yates discusses how it’s not enough to judge data decisions on the descriptor of big versus small alone — several other things must be considered.
BIG, small or Right Data: Which is the proper focus?
According to Dr. Baeza-Yates, we find ourselves swimming in a vast sea of data collected from our computer networks, social media profiles, mobile phone sensors and so much more. All this information can be characterized and broken down to a useful data format according to the five V’s of Volume (size of the data), Variety (diversity of the content), Velocity (the rate it’s produced), Veracity (the quality of the content) and Value (its business impact).
Transform Your Data Into Actionable Insights: The Pulse of AI Interviews NTENT Chief Technology Officer, Dr. Ricardo Baeza-Yates
In an in-depth interview with podcast host, Jason Stoughton from C-Suite Radio’s “The Pulse of AI: The Business Leader’s Guide to AI and Robotics,” NTENT CTO, Dr. Ricardo Baeza-Yates, discusses the evolution of search, and offers insight to C-Suite leaders on how to best use current and future search technology within their businesses.
Optimize your data, optimize your business.
Data is one of your best assets for staying competitive, but together with the GDPR (General Data Privacy Regulation) implementation on May 25, 2018, companies around the world, are working to properly manage personal data for its long-term value while improving business effectiveness. 90% of companies say personalization is a top priority. With the right organizational planning, technology, and commitment, data becomes actionable intelligence that drives competitive advantage and more informed decision-making.
About NTENT: NTENT provides Search and Conversational AI Platforms, empowering our partners to add search and conversational intelligence to anything. Maintain your data and direct relationships with your customers when you customize, localize and integrate our search, natural language understanding, and Q&A technologies directly into your lines of business.