Once a year, the man in the red suit holds all the power. Anyone who has kids knows what I’m talking about. We’ve all used (or experienced) the power of Santa to change behaviour, at least for a short period of time. For decades, poor Santa has been operating with a static set of data, often referred to as “The List”. But in the era of analytical insight, it’s even more important to behave – Santa doesn’t just have data, he has insight!
And he’s been taking a few tips from the local energy industry on how to turn insight into action.
Historically, small to mid-sized businesses (SMB) have struggled to access the significant return on investment offered by predictive analytics, simply because they don’t have the capital expenditure, time and skills required to implement the technology. That is, until now.
You asked for a way to derive predictive insight without the need to acquire statistical expertise and invest capital. IBM Analytic Answers with predictive analytics offered as a service, hosted via a cloud subscription to provide predictive insight on your data.
In 1997, Garry Kasparov, a human, famously lost a chess game to IBM Deep Blue, a machine. There-in started the age of “Man vs Machine” – a hot topic for many boardroom debates and box office movies. What many may not know, is the events that transpired in a freestyle chess tournament held in 2005. Neither Man nor Machine took home the title, it was in fact two men and a machine working in cooperation that reigned supreme and took home the title.
In Shyam Sankar‘s TED presentation “The rise of human-computer cooperation“, he so rightly points out that “brute computing force alone can’t solve the world’s problems“. Least of all, the world’s analytical problems. Which is why Man and Machine must team to drive greater insight.
Energy companies and governments around the world are investing in technologies to enable smarter use of electrical grids. Monitoring devices are being introduced in all stages of the energy life cycle—from turbines in the plants, throughout network infrastructure and to individual households and appliances.
While significant investment is required to build an intelligent grid, the capturing of information in itself will not deliver value — it’s how we use this new information to generate efficiencies and identify areas for innovation that will determine the success of the smart grid.
Ever heard the saying “it’s not the size that counts, but what you do with it“?
No doubt you’ve heard the latest buzz words in the world of technology – the biggest of which is “big data”. With exponential data growth, organisations are scrambling to understand how they will cope with the rapidly changing structured and unstructured data that supposedly now defines their business.
So what’s the big deal with big data?
Today, I had to drop into my local post office to send a parcel. Waiting in line I couldn’t help but notice the array of seemingly random items in front of me. Footballs, mini hammers, DVDs, children’s books – not exactly mail-related items.
It got me thinking – we talk about retailers using analytics to target customers with campaigns and offers they are most likely to accept. But what if you don’t know who your customer is?