As data science becomes a key factor in the decision making process of society, along with that comes the democratization of data analysis allowing anyone, not just statisticians, to draw conclusions from data. There is an undeniable ease to summary statistics that makes them appealing, but here at Fulcrum, we often encounter clients throwing away the distributions in their data science exercises which creates risk for their organizations.

Let’s walk through a hypothetical game to illustrate an example of the risks, and why individuals and businesses should be wary of falling back on summary statistics when making decisions.

Improving Decision…


GPU technology is an innovative option that can improve the speed of certain types of processes, namely those that can be performed using parallel processing which require computer systems to “think” and “learn” while processing data as quickly and efficiently as possible. For example, GPUs are used in everyday technology that requires real-time human language processing such as chatbots, text generation, sentiment analysis, and image recognition.

While adoption of GPU technology can streamline processes with faster compute time especially in the discipline of data science, there are challenges to implementing and maintaining GPUs on self-hosted infrastructure due to fast-evolving technology…


Data science has become a necessity for companies looking for innovative and efficient ways of solving complex business problems. As the world becomes more data-centric, trends in data science technologies and practices continue to emerge and evolve. Continual education on cutting edge data science applications can help optimize an organization’s operations, internal processes, and bottom line.

Here are three emerging data science trends that you and your company should be exploring to maximize insights and profitability.


From business managers, to data scientists, to UX developers — anyone who works with data knows anomalies can be a chore to find and an even bigger chore to resolve. Incorrect or faulty data can cause a business to miss revenue opportunities or potentially make poor business decisions based on erroneous analysis. For organizations whose processes rely on unifying customer or employee data sources, or that are facing regulatory scrutiny, managing risks associated with data quality is always a high priority.

Many organizations rely on operational business rules during the ETL process to flag data that is outside of predefined…


Just about every organization has a website to promote their products, services, and capabilities. Like any other digital interaction, visits to a website generate data which can be analyzed to better understand how visitors are brought to the site and what they do while there. Organizations often try to capture and operationalize this data to make it useful for business improvements using website analytics.

Website analytics includes utilizing website visitation data to learn the effectiveness of campaigns and convert visitors into engaged customers. …


Grocery retailers face a unique set of advantages and challenges within the retail sector. While many retailers of discretionary products have suffered during the COVID-19 lockdowns, grocery has experienced the opposite with consumers needing to buy more household goods and food than usual. While the uniqueness of grocery in the retail sector has set it apart in an arguably positive way during the COVID-19 crisis, it also has its own challenges such as perishable inventory, reliance on just-in-time supply chain flows, and the traditional use of price promotions, circulars, and coupons to move products.

With narrowing margins, continual competition, and…


Given the current economic climate, many businesses are preoccupied with keeping the lights on and enacting damage control with their employees and customers. For such companies, less regard is being paid to the optimization of a business’ digital presence, even though web-based communication and commerce has been thrust upon us as the new normal. By not actively creating a plan to propel an efficient and effective digital presence, some businesses may be falling into the trap of nearsightedness.

For businesses that are paying attention to how their digital readiness can be optimized, here are five best practices.


If your organization is like most, you have to balance meeting customer expectations for delivering high quality products or services with the hard reality of needing to keep costs in line to maintain profitability. Often, organizations will implement “interventions” aimed to improve business, such as to reduce costs, increase revenue, or retain customers. But since the intervention strategy itself has investment costs, it is necessary to measure the ROI of the intervention to understand whether the goals have been met.

There are many types of analyses that can be used to measure the effects of an intervention. The challenges lie…


If your organization is like most, you have to balance meeting customer expectations for delivering high quality products or services with the hard reality of needing to keep costs in line to maintain profitability. Often, organizations will implement “interventions” aimed to improve business, such as to reduce costs, increase revenue, or retain customers. But since the intervention strategy itself has investment costs, it is necessary to measure the ROI of the intervention to understand whether the goals have been met.

There are many types of analyses that can be used to measure the effects of an intervention. The challenges lie…


Everyone has heard of “market research” as a way to learn more about the customers for a product or service, but did you know that through data-science-enhanced market research, organizations can potentially save marketing and deployment dollars in the long run? Through methods such as discrete choice modeling and segmentation, companies can ensure their longevity, sell more efficiently and maintain relevance among their competition.

So how can the experts at Fulcrum apply data science to extend the power of market research data? Keep reading to learn more.

Segmentation

Market segmentation is a means of refining a target audience, which allows…

Ariela Douglas

Content and Marketing Specialist at Fulcrum Analytics

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store