Executive Management Programme
Department of Management Studies,
Indian Institute of Technology Delhi
5th Jan – 9th Jun 2019, Classes on Weekends / National Holidays
Tag: Business Analytics
Department of Management Studies,
Indian Institute of Technology Delhi
5th Jan – 9th Jun 2019, Classes on Weekends / National Holidays
Abstract : Analysis of data by humans can be a time-consuming activity and thus use of sophisticated cognitive systems can be utilized to crunch this enormous amount of data. Cognitive computing can be utilized to reduce the shortcomings of the concerns faced during big data analytics. The aim of the study is to provide readers a complete understanding of past, present and future directions in the domain big data and cognitive computing. A systematic literature review has been adopted for this study by using the Scopus, DBLP and Web of Science databases. The work done in the field of big data and cognitive computing is currently at the nascent stage and this is evident from the publication record. The characteristics of cognitive computing, namely observation, interpretation, evaluation and decision were mapped to the five V’s of big data namely volume, variety, veracity, velocity and value. Perspectives which touch all these parameters are yet to be widely explored in existing literature.
Journal: International Journal of Information Management (Elsevier)
Authors: Shivam Gupta, Arpan Kumar Kar, Abdullah Baabdullah, Wassan A.A Al-Khowaiter
Download the article here at Elsevier.
Artificial intelligence was officially founded as a discipline in 1956, and in the years since, it has experienced tremendous growth and development—allowing AI systems to do a lot more things in ways we could only just imagine in the past. Let’s take a look at some of the best applications of artificial intelligence in the world today.
Among the many applications of artificial intelligence these days, smartphone virtual assistants are definitely at the vanguard, since these are the types of AI people are familiar with the most. Examples of these are voice activated assistants like Siri on the Apple iPhone, Bixby on the Samsung Galaxy S8, and Cortana on Microsoft devices. As you may very well know, these personal assistants can perform tasks and services for the user, facilitating the use of device features that would take much longer to access without AI aid. These include reading emails and messages aloud, scheduling events, looking up and dialing contact details, performing internet searches, and other duties that were traditionally performed by actual personal assistants or secretaries.
In the future, smart personal assistants are likely to become more ubiquitous, especially in homes, where they can act as automation hubs for smart houses. There are already a few such AI technologies operating today, including the likes of Amazon Alexa on the Amazon Echo device, Siri on the Apple HomePod, and the Google Assistant on the Google Home device.
In a world that is slowly transitioning to value-based care—a healthcare delivery model where providers and compensated according to the quality of patient health outcomes—it is important for health payers, providers, and public health agencies to become more sophisticated when it comes to handling data. With the help of artificial intelligence solutions, it become possible for these organizations to sift through and analyze voluminous amounts of data, which they can then use to empower their policies and practices. What are the implications? Consider being able to detect healthcare fraud, reduce resource wastage, develop the best healthcare plans, improve population health, and even cure diseases. In short, health organizations are poised to benefit a lot.
The financial services sector is one of the most data-driven industries in the world, with financial organizations exchanging large amounts internal documents and customer transaction information on a daily basis. Because banks and other financial institutions are also confronted with numerous regulations and compliance standards, they should see to it that that they are not failing on their legal and institutional obligations.
By analyzing data with the proper artificial intelligence tools, financial organizations will be able to understand the risks, comply with regulations, and meet customer needs effectively. They’ll be able to perform specialized tasks, whether it’s building regulatory risk models or predicting and preventing criminal activities like fraud and money laundering.
Transportation and Navigation
Have you ever wondered how map services like Google Maps and Waze calculate the best routes from your location to a certain destination? Or how about the methods by which ridesharing applications like Uber and Lyft determine the price for your ride? If you guessed artificial intelligence and machine learning, then you are correct.
Google Maps, which acquired Waze from the Israeli company Waze Mobile in 2013, efficiently makes use of crowdsourced data from the latter in order to help commuters avoid traffic jams caused by roadwork, accidents, and other disturbances, while also providing estimated times of arrival. Uber, on the other hand, uses machine learning in its proprietary algorithms in order to predict which areas will have increased rider demands at which hours. This way, they are able to implement what they call surge pricing, a strategy in which ride prices are increased at certain locations and at certain hours in order to bring down rider demand while also encouraging more drivers to pick up riders from those locations.
Aviation has always been an early adopter of AI technologies, and autopilot systems are one of them. Autopilot is a technology employed to control the flight path of an aircraft without constant intervention by a human agent. Although an autopilot system is not a complete substitute for human operators, it does help them significantly by allowing them to place their attention on other important aspects of aircraft operations, whether it’s monitoring weather conditions or reviewing and configuring instruments.
Surprisingly, autopilot systems have been in existence since the 1912, when the Sperry Corporation developed the first aircraft autopilot technology. Modern aviation AI systems, however, are much more advanced and are powered by computers—from coupled autopilot systems and full authority digital engine control systems to more recent developments such as digital cockpit assistants and next-generation autoflight systems that use machine learning to mimic expert pilots.
Without a shadow of doubt, artificial intelligence and machine learning will become more important in our daily lives as these technologies advance. What sort of challenges do you think AI will solve in the future?
Over the last few years, technological advancement has really changed the way marketing data is used. It has become more specific and marketers now focus on individual preferences instead of market trends. Historic action has paved way for a customized one-on-one engagement between the seller and the buyer. Gone are the days when people used to replace their mobile phones only after they stopped working. The younger generation replaces their android phones within 3-4 months after finding some new features in a newer model. Continue reading “7 ways how big data is changing marketing”
IIT Delhi announces the call for applications for the Executive Management Programme in Strategic Innovations, Digital Marketing, & Business Analytics, which is planned from 6th January 2018 – 10 June 2018, and Classes to be held on Weekends/National Holidays. This will be an extensive programme of a minimum of 150 contact hours spread over 6 months. Continue reading “Executive Management Programme in Strategic Innovation, Digital Marketing and Business Analytics”
IIT Delhi announces the call for applications for the Executive Management Programme in Strategic Innovations, Digital Marketing, & Business Analytics, which is planned from 6th January 2018 – 10 June 2018, and Classes to be held on Weekends/National Holidays. This will be an extensive programme of a minimum of 150 contact hours spread over 6 months. Continue reading “Executive Management Programme in Strategic Innovations, Digital Marketing, & Business Analytics in IIT Delhi, 2018”
A Gartner study released way back in 2015 stated that companies that “fully invested” in all kinds of personalization outfits by 2018 will outsell companies that haven’t by 20%. Now this is a huge number – irrespective of the fact that there is a large amount of B2B and B2C businesses functioning currently. And with 2018 just around the corner (well, not technically – it is still 8 months away), it is vital to embrace personalization faster than ever. Continue reading “Engage Your Customers At The Right Time With The Right Message: 2017 Personalization Must-Haves”
These days, numerous enterprises depend on strong channel partnership networks in order to maintain their growth and sustainability. These indirect channels—whether distributors, affiliates, dealers, resellers, or independent sales agencies—all play a vital role in your success, as they help you expand your business’s sales volume, geographic reach, and brand equity without you having to shell out the resources typically required for such expansions. Continue reading “Things to Consider When Instituting a Channel Incentives Program”
With the advent of the internet driven era, organizations are transforming their operations so that they can harness the power of the web driven ecosystem and grow sustainably. This has led to the digitization of both processes and products. In such a digital economy, the need was realised to leverage upon innovative business models to reach out to new customers and segments. In view of this, digital marketing and hence the emergence of search engines and social media has played a significant role. In addition to this, strategic innovation approaches are needed to optimize the innovation portfolio, to help organizations achieve sustained competitive advantage and transformational growth. These emerging approaches are heavily dependent on leveraging the information assets of the organizations which is possible through the business analytics.
Date of the Programme: 05/01/2017 to 06 /06/2017
Social media and big data have been in high focus due to their potentially huge impact on business, society and polity. As more and more data gets created in social media directly by organizations and more importantly, through user generated content, the importance of mining this data was recognized. This research contributes to the same domain and peruses the twitter community before and after an event which is a major breakthrough for an economy. Such an event could be an election for a nation or an economic budget announcement for a country. In this study, the event being monitored is the Union Budget 2016 in India and try to track the conversations surrounding the budget on twitter among the corporates and individual influencers. Continue reading “Do organizations change their personality before and after critical events – Insights from Twitter Analytics”
With the explosion of data generation, getting optimal solutions to data driven problems is increasingly becoming a challenge, if not impossible.The importance of machine learning algorithms, which can handle this burst of data and assist in intelligent decision making, is thus realised among data scientists. Within this category of machine learning algorithms, a special focus area is bio-inspired algorithms. This review article provides the readers some inputs on the advances in the domain of bio inspired algorithms and their potential applications across domains.
Continue reading “A Review of Machine Learning Algorithms and Applications”
Zion Research has published a new technical industry analysis article titled “Information Technology Operations Analytics Market by Software Solution. Focus of this report is on Visual Analytics, Artificial Intelligence, Machine Learning, Predictive Analytics, User Behavior Analytics, Precinct Analytics and Root Cause Analytics, for Real-Time Log Management, Application Performance Management, Infrastructure Management, Network and Security Management and Others Applications. According to this technical analysis, the global demand for IT Analytics, which was earlier valued at 2.5 billion USD in 2014, is expected to grow to a volume of 9.2 billion USD in 2020. This means a CAGR growth of 23.7% between 2015 and 2020 for the industry, which promises to provide great dividends to the domain experts of analytics. Continue reading “IT Analytics Market poised for Growth to 9.2 Bn USD in 2020 (Sample Report Available)”
Google is again in the news. With decades of research and development in artificial intelligence, Google is definitely the one to watch out for. But finally humanity triumphs over artificial intelligence. DeepMind had earlier set the benchmark to really check out how far it can push humanity, and set the tables against real intelligence. However, this time, results were a tad different.
Facebook, our most popular social networking website and the prince of social media, heavily invests in Artificial Intelligence research, to enhance the usage experiences of its users. As per Facebook AI Research Lab, they are focused on propelling the field of machine knowledge and creating innovations that give individuals better approaches to impart. In the near future, they try to comprehend insight and make wiser and knowledge generating intelligent information systems. By what method will they fulfill this? By building the best AI lab on the planet. Continue reading “Facebook’s new offers from Artificial Intelligence Research”
For a long time, cloud business intelligence was principally the space of startup sellers offering Software as a Service (SaaS) BI devices as different options for the standard on-premises programming sold by the BI market pioneers. However, cloud BI is turning out to be more normal as expanding quantities of corporate clients grasp the cloud computing and SaaS models as a component of their business intelligence strategies. Continue reading “Organizing the Cloud Environment with Business Analytics”
We keep hearing that analytics is going to change the world in a big way and in fact it is already affecting firms and organisations in a way that could not have been visualised earlier. What is increasingly becoming prominent is that today is not the world where knowledge laden information can be stored free. Continue reading “What is obtrusive analytics”
Risk analytics models in the keeping money industry are produced to bring conviction over the risk scores for individual clients. FICO assessments are constructed to anticipate singular’s misconduct conduct and broadly used to assess the credit value of every candidate. Moreover, risk investigations are completed in the exploratory world and the protection business. The initial step to security administration is understanding where you are at risk. We trust the answer is in the information. Risk Analytics offer you some assistance with extracting chunks of data. These models give information risk managers precise, organized risk based data so they can concentrate on the most vital issues first. Continue reading “Overview to Risk Analytics”
On the off chance that you don’t recognize what Google Analytics is, haven’t introduced it on your site, or have introduced it yet never take a gander at your information, then this post is for you. While it’s hard for some to accept, still sites are not utilizing Google Analytics (or any examination, besides) to gauge their movement. In this post, we’re going to take a gander at Google Analytics from the supreme apprentice’s perspective. Why you require it, how to get it, how to utilize it, and workarounds to normal issues. Continue reading “Challenges of Using Google Analytics”
Prescient investigation (Predictive Analytics) is the utilization of information, measurable calculations and machine-learning methods to distinguish the probability of future results in view of chronicled information. Prescient investigation (Predictive Analytics) is frequently characterized as foreseeing at a more itemized level of granularity, i.e., producing prescient scores (probabilities) for every individual hierarchical component. Continue reading “What is Predictive Analytics?”
We are happy to share with our readers that a brief interview was conducted on the editor of Tech-Talk. We share the details of the queries shared in the discussion in this article. Continue reading “DSS on website selection for internet advertising”
One of the thoughts to ponder is in this digital era, when so many companies are jumping the bandwagon for having a presence on the web, why specifically do businesses need an integrated digital marketing services for making their presence felt over the web. Is it something that cannot be done in-house? Continue reading “Why businesses need an integrated digital marketing services”
Good deed of the day! In a panel discussion, I mentioned high end analytics (metaheuristics etc) are based on the principles of LSD (Love, Sex and Dhoka).. The audience, the panelists, a group of guys with PhDs, all objected to this oversimplification. But finally I convinced the audience with the examples of bio-inspired computing…. Continue reading “#Technology #Joke on Metaheuristics”
Business Analytics is changing the way the Firms do Business. With the advent of the Information era, as more and more firms gear up to digitize their products, services, processes and information assets, a critical area of concern is to understand how these information and data may be analysed so that actionable insights may be taken by the firm. Continue reading “Business Analytics Infographics”
Faculty Members of Indian Institute of Technology Delhi
organizes a Workshop for
Advances in Business Analytics
from 19-22nd March, 2016.