Data Drives Statistical Models, Not Cognitive Models

Data is king in today’s market. So why do so many organizations still struggle when it comes to collecting and utilizing data?

The average company loses over $15 million a year due to poor data. Yes, you read that right. That’s big money folks and its about time to stop the hemorrhage.

Finding a solution here takes some work, so we noodled on this one ourselves and even asked a few friends.

Why Does It Matter?

Harnessing the power of data helps you outpace the competition. The important first step is creating a data collection process. Doing so will make meeting regulatory and business obligations simple. Stop circling the wagon and be proactive in your approach to data.

It’s here that you can start turning the $15 million figure into something more manageable. Saurav Singla describes just a few cases in the financial services industry where data brought about a massive impact in this insightful article.

Plugging The Dam

Too much data? Not sure how to apply it to your organization? Don’t get overwhelmed.

Investing in an ML/AI model that can help collect and analyze data might be the key to differentiation. We applied this principle with one of our clients, and the results were impressive. Want to see how? Check out this case study.

What Can You Do About It?

Don’t fall behind. The usefulness of data is multifaceted and can immediately impact your business. The influence it can have on “business intelligence” and every other aspect of your operation can’t be understated. Learn more about big data in this exceptional KDnuggets article.

Don’t regret the steps you didn’t take. Install a proactive approach when handling data collection, and you’ll reap the benefits. Taking advantage of “Big Data” can increase efficiency, reduce costs, and simplify previously complicated processes.

Throw in some capable AI, and you’ll find that data’s impact on a business is extreme. Once you have the necessary information, it’s just about finding its best use. Data can be the scalpel that cuts through the noise and drives modernization. Time to put it to work.

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