Latest data analytics publications
Business changes all the time, but advances in today’s technologies have accelerated the pace of change. Machine learning analyses historical data and behaviours to predict patterns and make decisions. It has proved hugely successful in retail for its ability to tailor products and services to customers.
Unsurprisingly, retail banking and machine learning are a perfect combination. Thanks to machine learning, functions such as fraud detection and credit scoring are now automated. Banks also leverage machine learning and predictive analytics to offer their customers a far more personalised user experience, recommend new products, and animate chatbots that help with routine transactions such as account checking and paying bills.
On the face of it, there is little to unite the construction and tech sectors. Superficially at least, the construction sector provides a classic example of ‘waterfall management’: strict plans are formed at the outset of a project, and resources are fixed in place, even though the finished product might be three years away. It is a right-first-time, zero defects sector with detailed dependency scheduling. The tech sector, by contrast, is known for its not-afraid-to-fail, agile mindset, eschewing scheduling for creativity. Tech and construction, then, would certainly appear to be strange bedfellows. Times are changing. The proliferation of Building Information Management platforms on construction sites up and down the country neatly demonstrates that tech really can be embedded into the foundations of a building, and by extension, the construction sector. But how do we further embed the two, often conflicting, cultures?
Internet-enabled devices have led to an explosion in the growth of data. On its own, this data has some value, however, the only way to unlock its full potential is by combining it with other data that businesses already hold.
Together, pre-existing data and newly-minted IoT data can provide a full picture of specific insights around a single consumer.
West Midlands Police is trialling the National Data Analytics Solution The Government has given another £5 million to a police force that is testing crime prediction software. West Midlands Police is trialling the system to analyse data on knife and gun offences, as well as modern slavery. The National Data Analytics Solution is used to help… Read More