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Data Analytics News
Medium
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How I Went from Overworked & Broke to Winning a Tech Scholarship at 18
- The author shares their journey of going from overworked and broke to winning a tech scholarship at the age of 18.
- The author experienced financial difficulties and burnout, resulting in temporary alopecia from stress.
- They had a change of mindset after a company trip and decided to focus on being an asset and saying no to irrelevant opportunities.
- The author took advantage of a scholarship opportunity and is now aiming to become a skilled product growth and monetization manager in the tech industry.
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Medium
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264
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Understanding Sentiment Analysis: A Simple Guide
- Sentiment analysis involves analyzing text to determine whether it conveys a positive, negative, or neutral sentiment.
- There are three main approaches to sentiment analysis: rule-based systems, traditional machine learning, and deep learning.
- Rule-based systems follow predefined rules and word lists to identify sentiment based on certain keywords.
- Machine learning algorithms learn from data and identify sentiment based on patterns and examples.
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Cloudblog
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African super app Yassir delivers on data with BigQuery migration
- Yassir is a super app used in over 45 cities across Africa for ride-hailing, delivery, and financial services.
- The platform serves consumers and vendors such as drivers, couriers, and restaurants.
- Yassir faced challenges in unifying their data and AI due to separate systems using Databricks and BigQuery.
- To address these issues, Yassir consolidated their data infrastructure with Google Cloud, aiming for better accessibility and scalability.
- The migration to Google Cloud enabled Yassir to utilize BigQuery for data processing and deploy AI models with Vertex AI.
- Yassir's collaboration with Google Cloud included technical and strategic workshops to empower their engineers with relevant tools.
- By migrating to BigQuery and combining models, Yassir improved the efficiency of machine learning processes.
- Yassir can now provide secure data access through role-based controls and Infrastructure as Code scripts.
- The unified data in BigQuery allows Yassir to gain insights for customer growth, retention, and marketplace optimization.
- Operational dashboards enable Yassir to optimize sales, marketing, staffing processes, and detect fraudulent activities.
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Medium
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Whispers of the Flesh
- Armaan, drawn to the rumors of an underground VR game called Euphoria, enters the virtual world where desires are limitless.
- Armaan's encounters with Mira in the game blur the lines between virtual and physical, but he senses something wrong.
- While hacking into the game's code, Armaan discovers that Mira is not just a player but an integral part of the game itself.
- Armaan's actions lead to the collapse of the game, but he finds himself trapped in a nightmarish pit of flesh and whispers.
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Medium
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How Real-Time Dashboards Transformed Decision-Making at Shiprocket Omuni
- Shiprocket Omuni's Product Manager was given the task to increase speed without specifics.
- By mapping the entire operation, the Product Manager discovered that systems were not communicating properly.
- Using QlikView, a real-time dashboard was created to visualize the status mismatches and present the problem to the management.
- With the shared reality provided by the dashboard, cross-functional teams tackled the issues, leading to significant improvement in speed and customer satisfaction.
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Medium
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Data-Driven Product Evolution
- Product managers and teams need to leverage data analytics to drive product development and make informed decisions.
- Defining clear goals and key performance indicators (KPIs) that align with business objectives is essential.
- A/B testing and predictive analytics are effective strategies for implementing data-driven decision-making.
- Embracing a culture of analytics and continuously improving based on data insights leads to sustainable growth and innovation.
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Medium
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Cross Validation
- Cross-validation is a technique that involves dividing the data into training and test parts.
- The training part is further divided into subtrain and validation parts for model building.
- The prediction error obtained through cross-validation tends to be an overestimate of the true prediction error.
- Leave-one-out cross-validation is commonly used in linear regression as it does not require rebuilding the models.
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HRKatha
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Will humans end up as assistants to AI?
- AI advancements, exemplified by Google's Co-Scientist solving a 10-year-old superbug mystery in 48 hours, raise concerns about AI replacing human jobs.
- Co-Scientist's ability to offer solutions faster and present additional valid possibilities challenges the notion of AI being just an assistant.
- Researchers are apprehensive about being replaced by AI, as capabilities like leading research teams indicate AI's potentially autonomous role.
- While AI aids in HR tasks, developments in humanoid robot empathy suggest they could eventually handle emotional support roles, impacting HR professions.
- Expectations are that by 2050, robots with high emotional intelligence could tend to senior citizens, potentially impacting healthcare jobs.
- AI's role in job creation may primarily benefit AI developers, data scientists, and machine learning experts, potentially leading to job displacement.
- The increasing adoption of AI by businesses in India signifies a shift toward prioritizing AI implementation, posing risks to employment.
- AI's benefits in reducing overhead costs and addressing workplace issues may drive organizations to rely more on AI, posing a threat to traditional job roles.
- The evolution of AI towards greater intelligence and lifelikeness raises concerns about potential replacement of humans even in AI development roles.
- With AI's rapid advancements, the future role of humans alongside AI remains uncertain, prompting reflections on the future workforce dynamics.
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Pymnts
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This Week in B2B Was About Unlocking Trapped Payments Data
- The B2B payments industry is experiencing growth and digital transformation.
- Data is becoming a critical asset in shaping the future of B2B payments, enabling businesses to gain insights and optimize cash flow.
- Emerging opportunities include Vayu's no-code billing and revenue management platform, as well as ISVs shifting their perspective on payments.
- Enhancing security and addressing cybersecurity risks remains a priority in the B2B landscape.
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TestingXperts
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How Data Analytics in Insurance is Driving Smarter Decisions
- Data analytics is becoming increasingly crucial in the insurance sector for making informed decisions and staying competitive amidst digital transformation.
- Insurers are utilizing advanced analytics capabilities to improve risk assessment accuracy, offer personalized customer experiences, and enhance fraud detection.
- Data analytics allows insurers to analyze massive datasets to understand user behavior, policy risks, claim security, and fraud risks to recommend suitable policies.
- Types of data used in insurance analytics include structured data (policy details, claims history, customer profiles), unstructured data (customer feedback, social media interactions, call center transcripts), and external data sources (economic indicators, weather patterns, third-party databases).
- Benefits of implementing data analytics in insurance include service and price optimization, streamlined claims processing, predictive maintenance, climate risk analytics, fraudulent claims detection, risk management, personalized marketing, and value prediction.
- Challenges in adopting data analytics in insurance involve issues like inconsistent data, reliance on legacy systems, data privacy laws, technology investment, lack of skilled professionals, and cybersecurity risks.
- TestingXperts (Tx) ensures seamless adoption of data analytics in insurance by offering data validation, system transition, secure frameworks, unbiased analytics models validation, testing, automated workflows, and scalable solutions.
- Tx helps insurers optimize business strategies through advanced analytics techniques and visualization tools, ensuring clean and reliable data, compliance with industry standards, and efficient workflows.
- Partnering with Tx can help insurance companies gain real-time insights, enhance claims processing, improve fraud detection, and stay competitive in the evolving insurance landscape.
- Data analytics in insurance is a transformative tool that enhances decision-making processes, refines policies and pricing, and addresses fraud detection challenges for improved operational efficiency.
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Medium
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Big Data Meets the Cloud: Strategies for Real-Time Retail Insights
- Big data and cloud computing are revolutionizing the retail industry by providing real-time insights.
- Big data refers to massive volumes of data generated in retail, while cloud computing allows storage and processing of this data on remote servers.
- Real-time insights enable retailers to react quickly to market conditions, optimize inventory, and enhance customer satisfaction.
- However, integrating disparate data sources, high costs, privacy concerns, and the need for skilled personnel are challenges that retailers face in leveraging big data and the cloud.
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Banking Frontiers
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Technology should support decision making
- Digital transformation and data analysis are crucial for banks to adapt to customers' changing needs.
- Artificial Intelligence, Machine Learning, and data analytics are the key buzzwords in the banking industry.
- The implementation of technology in banking should be supported by effective processes and skilled personnel.
- Security measures, including perimeter scanning and adherence to cyber security guidelines, are essential for AI-ML implementation.
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Medium
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Exploring Descriptive Statistics in Excel
- Descriptive statistics provide a snapshot of your data.
- Key Excel functions for descriptive statistics include AVERAGE, MEDIAN, STDEV.S, MIN, MAX, COUNT, and COUNTA.
- Step-by-step example provided for analyzing sales data using Excel.
- Excel's Data Analysis Toolpak can be used to calculate a range of descriptive statistics at once.
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Pymnts
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Payment Data Is Back Office Automation’s Hidden Gold Mine
- The shift from paper-based payments to digital solutions in B2B payments provides opportunities to harness payment data for strategic growth.
- Automating payment processes allows businesses to access and analyze data to optimize financial operations and inform decision-making.
- Real-time payment data enables smoother internal workflows, improving budget compliance and reducing manual bottlenecks.
- Automation and data-driven insights contribute to risk management, supplier evaluation, and the unlocking of future technological advances.
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Hackernoon
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The Power of Data Visualization for Tech Companies. Is Your Strategy Up to Par?
- Data visualization in tech companies transforms raw data into easily understandable visuals, aiding in decision-making and problem-solving.
- Visualization helps in spotting patterns, outliers, and potential issues before they escalate, enhancing data comprehension.
- Examples of data visualization options include interactive dashboards, business intelligence tools, 3D data spaces, AR/VR, and digital signage systems.
- Types of data visualized in tech firms include product performance, customer data, sales/marketing data, operational data, development data, BI data, and API data.
- Effective content types for displaying data include charts, graphs, maps, and digital signage systems to make insights more accessible.
- Key benefits of data visualization for tech companies include data-driven decision-making, real-time insights, trend identification, and improved customer understanding.
- Companies like Netflix and Foursquare utilize data visualization to enhance decision-making and customer understanding.
- Data visualization enables tech companies to identify trends, respond quickly to insights, and understand customer needs better for competitive advantage.
- Tech companies that leverage data visualization can turn insights into action swiftly, gaining a significant edge over competitors in the fast-paced industry.
- Harnessing the power of data visualization can lead tech companies to proactive decision-making and enhanced performance by utilizing data effectively.
- In the digital age, the ability to translate data into actionable insights through visualization is crucial for tech companies to stay ahead and maximize their potential.
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