Blogs Page 2
 
 
The Power of Big Data in Marketing
2018-10-24
By K. Becker

Nowadays, the term Big Data is used on a regular basis and literally refers to large amounts of data. Big Data analysis makes use of this data with the innovative technology of machine learning, or self-learning algorithms, to gain a transparent overview of ongoing business processes. Its goal is to uncover underlying patterns and trends.
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An Open Letter to All Micromanagers
2018-10-22
By J. Tamhane

Dear Micromanager,
I write this letter with utmost admiration of your precision. You have shown time and time again that you can see what nobody else could. When most human beings are busy prioritising, you have the supernatural skill of focusing on one task carried out by your subordinate until you find what is wrong with it.
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The Necessity of Care
2018-10-17
By S. Zimmermann

Be honest! How often do you base your decisions on how much an item or service costs you instead of whether it will help you? How often do you not dare to reach out to somebody because you think you will disturb them in their daily business or ‘waste’ their time? Now imagine this. What if you do not need to worry about costs any longer, what if people are happy to get interrupted and what if people are even thankful for the chance to be challenged in their daily routine because they find out that you actually CARE about them?
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Blockchain and the Irish Border
2018-10-11
By J. Anderson

Blockchain and its affiliate technologies have become a household name, especially so in the UK, it would seem. As first reported by Reuters, Philip Hammond, a finance minister in the UK, has suggested Blockchain as a potential solution to the Post-Brexit Irish border (Reuters article). In particular, the Irish border is important because it will be the only land border between the UK and the EU. Currently, the border is practically invisible, allowing for unrestricted access between Ireland and Northern Ireland, but can that remain post-Brexit? With a hard, no-deal Brexit looming in the future, this question has become quite relevant.
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Pitfalls of Data Analytics
2018-08-22
By M. Mukhamadieva

"Essentially, all models are wrong, but some are useful" is a remarkably insightful statement from George Box (Wikipedia article). Data analytics has been developing with an exponential pace in the recent years, and there are several reasons for that. A large part of it may be attributed to the technological advances, which allow for sophisticated models performing calculations on large amounts of data. Statistical analysis is now implemented in every industry or field of science. While data analytics can provide a necessary proof of a fact or, even more precisely, a dependency between various matters, sometimes people seem to blindly believe in whatever the models tell them, as long as the mystical 't-statistics' is greater than 2!
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