With continued expansion of advanced analytical techniques and practices, one aspect often overlooked is the power of data representation. Visualizations, when done correctly, can re-emphasize strong trends and provoke deeper thought on the subtler ones. We, at BRIDGEi2i, performed a simple exercise on the 4th of July trying to put the themes reflected in the inaugural addresses of US Presidents and key events in US history together. Centuries of history crunched into one visual. Let’s see if it can unearth some interesting facts.
Developers are often interested in learning about the software industry’s best practices, so that they can improve the robustness and efficiency of their code. The best way to learn is by reading the source code of programs that are in production and running heavy workloads.
It takes a lot of effort from diverse teams across the organization to get $4M revenue into the system but it just takes one Sales Manager to lose the same amount of money! CEB recently reported that a failed Sales Manager would cost the company $4M.
In the relentless pursuit of competitive advantage, companies have adopted data driven decision making in a big way. A big manifestation of this is the proliferation of predictive models that are being deployed to lift business outcomes in a whole host of applications.
These range from trying to understand customers, segmentation and targeting, propensity to buy, forecasting, etc. etc. A typical firm would use 20 – 400+ models depending on portfolio size, number of products and analytics maturity.
Great customer experience can come from anywhere. A barber shop would seem an unlikely place to collect business wisdom yet how is it that most of the times a barber shop in the same exact location and circumstances, offering the same commodity service with the same quality but with pricing so different from the local competition does better business than the others. What makes that barber UNIQUE is his ability to identify, predict and personalize. You might think cutting hair is a low-involvement affair but the fact is that your barber builds a relationship and personalizes the experience. Therefore barbers can teach businesses a thing or two about improving their customer experience.
There is a long way to go before India truly claims women empowerment. The number of female awardees from 2011 to 2015 was only 21% of the total awardees. For the states like Kerala, Tamil Nadu and Andhra Pradesh that had higher sex ratio, have contributed only 12% of the total female awardees.
Data-driven decisions are increasingly becoming pervasive within enterprises. While most companies agree on the need for analytics in critical decision-making process, they are often in a dilemma whether to build an analytics team internally or outsource some of their analytics tasks. Building a fully-functional analytics team within a company can be complex and time consuming. Organizations need to evaluate the prospects of collaborating with a specialist managed analytics services provider to gain faster and impactful insights.
The hunger for business is not just a matter of survival. There is a certain longing, a deep desire for recognition, even love. In a lot of respects, the hunt for the earliest customers is a search for a validation and an acknowledgement.. and is a lot like courtship. The premise of this piece is to drive home the point that customer relationships are no less sacrosanct than the marital bond.
This webcast is a recording of the recently conducted BRIDGEi2i Webinar – The Evolution from Model Validation to Model Governance for Banks
BRIDGEi2i Industry Experts, Anand Melige and Ashish Sharma discussed the growing importance of model risk management and the needs and challenges of decision makers in financial institutions in the present scenario.
Corporates and Banks base their important decisions on data, such as to make profit, reduce cost or save themselves from making loss. They need to take many crucial decisions with respect to:
Investing in a new venture.
Choice of consumers to target in a direct marketing campaign
Identifying fraudulent credit card transactions in real time.
Answers to all the above business decisions are either a “Yes” or “No”. For example “Yes” to invest in a new venture, “Yes” to target a consumer, “Yes”, the credit card transaction is fraudulent.
You might be wondering what Criclytics means! Don’t Worry, I will explain what this means and how this is playing a central role in cricket. Cricket is one of the most followed sport in the world and with the 2015 World cup around the corner, the craze is reaching fever pitch. So in this blog I would like to talk about “Criclytics” – Analytics in Cricket.
BRIDGEi2i Co-Founder and Director, Pritam Kanti Paul was recently invited by Indian Institute of Foreign Trade as part of their National IT Conclave, Kolkata.
Customers and employees are the most important human pillars of an organization. While most organisations concentrate on understanding customer satisfaction, few have invested sufficiently in their employees’ satisfaction. However, organizations are judged by their performance, which is a direct outcome of their work culture and environment.
Organizations today invest a lot in training their employees, but if they don’t pay heed to signs of disengagement, they may end up losing a chunk of that investment to attrition. This is not merely a financial loss but also disrupts the long term planning of the organization as it fights to maintain some measure of continuity in its endeavours.
When astronaut Barry Wilmore asked for a spanner, NASA emailed him one. Barry printed what he wanted in International space station in less than an hour using a 3D printer. This explains the power of disruptive technology, in a nutshell. In this highly competitive world where standing still means falling back, disruptive technologies gives industries and companies an edge over the others. Adoption of disruptive technologies is one among the many other business challenges that insurance industry is facing, as I have outlined in my previous blog.