
Data Smart: Using Data Science to Transform Information into Insight

What is ultimately important about big data technology is how it can bring value to your organization—lower the costs and increase the speed of processing data, develop new products or services, or allow new data and models for better decision making. However, a few paragraphs here on big data
Thomas H. Davenport • Big Data at Work: Dispelling the Myths, Uncovering the Opportunities
was to support internal business decisions. What offers should you present to a customer? Which customers are most likely to stop being customers soon? How much inventory should we hold in the warehouse? How should we price our products?
Thomas H. Davenport • Big Data at Work: Dispelling the Myths, Uncovering the Opportunities
On the decision side, the primary value from big data derives from adding new sources of data to explanatory and predictive models.
Thomas H. Davenport • Big Data at Work: Dispelling the Myths, Uncovering the Opportunities
The implications are significant. An experienced mechanical engineer is no longer required to predict engine failures. An experienced physician is no longer required to predict the onset of diabetes in a patient. A geological engineer is no longer required to predict oil well placement for optimal production. These can all be learned from data by t
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