How Machine Learning Can Improve Demand Forecasting

machine learning on demand forecasting

Machine learning has seen one of the most rapid growths, its market value increasing from $1.03 billion in 2016 to $15.44 billion in 2021. This innovation has also outperformed expert predictions and gained a strong foothold in the commercial industry. The reason is that businesses have benefited from its applications, succeeding at enhancing demand forecasting…

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Data Reliability: A Challenge to Address to Becoming Data-Driven

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Everyone wants to be a data driver. But to be data-driven, you first need to have reliable data. Having data is quite different from having reliable data, which is also different from being data-driven. To paint a clear picture, let’s take a scenario where two marketing executives present different sales figures for the same quarter…

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How to Choose The Right Data Platform That’ll Meet Your Needs

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The business world today runs on data. Regardless of your industry or organization size, data power strategic decision-making, reveals hidden waste generators eating into your bottom line, and unearths new revenue streams. However, data alone can’t execute all of the above. Your business must gather tech solutions that connect all the relevant data sources. You’ll…

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Data Lifecycle Management: A Simple and Complete Explanation

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Enterprise data can no longer be thought of as separate chunks of information. Today, data is not only everywhere, but it’s also interconnected. At any given organization, the same dataset passes through multiple hands and is used to make informed decisions across departments. Enterprise data has evolved into a homogenous living thing that flows throughout…

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5 Ways eCommerce Can Benefit from Cloud Computing

ecommerce benefits from cloud computing

The oversaturated eCommerce market is dictating its terms of competitiveness. Now minor weaknesses and delays can cost thousands of losses and paralyze your business. Therefore, online store owners need to be flexible, intelligent, and also grasp the latest innovations to use to their advantage. Retailers take different steps, such as building a headless commerce structure…

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What is Data Discovery? The Ultimate Guide

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The technologies you use for day-to-day operations at your organization generate and transmit data at an unprecedented rate. Today, businesses collect a lot of information relating to customer buying patterns, supplier lead times, customer search queries, and even their contact and IP addresses. With so much data at your disposal, it’s best to put it…

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Self-Service Analytics Lets Everyone Identify Business Insights

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Imagine how productive and competitive your organization would be if every one of your users turned into a data analyst (almost) overnight. It’s possible – with self-service analytics. Self-service analytics is a form of business intelligence (BI) that lets non-technical users such as executives or marketing teams access data, perform queries and generate reports to…

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How can Cloud Computing Transform your Business: Tips and Best Practices

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Increased use of the internet and mobile applications has led to the rapid adoption of cloud computing services. Integration of innovations like Artificial Intelligence and Machine Learning needs intensive computing resources. It has further fueled the cloud shift among many organizations. According to Forbes, data aggregation worldwide will increase up to 3.5 times by 2050.…

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Key Challenges That Prevent Businesses From Becoming Data-Driven

challenges preventing businesses from becoming data driven

Today, businesses produce massive data streams at a drastic rate due to the dramatic acceleration in digitization. This pushes organizations to become more data-driven, making choices based on data rather than hope, gut instincts, personal opinion, or general observation. Undoubtedly, data is rising as an integral business asset. However, its reliability and value depend on…

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Tips on How To Write a Data Management Plan

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Many perceive digital transformation as a source of new challenges. But digital transformation failure can fall behind competitors and reduce business performance. A data management plan can help kick-start the digital transformation process and make it a success. How to use data to improve efficiency? Data can be divided into “passive” and “active” in every…

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Why You Need Data Reports and How to Create Them

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Managers know that gathering and interpreting data is essential for making the best business decisions. However, it’s easy to become overwhelmed by the excess of data that’s available. Data reporting picks out the most important pieces of a data set and presents them clearly, using visual tools like charts and graphs. Putting together good data…

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How to Get More Insights from Data Tracking

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In a world where data is constantly being generated, it’s essential to track and analyze this data to glean valuable insights. Data tracking can help you understand trends, optimize processes, and make better decisions. By collecting data from multiple sources, cleaning and organizing it, and deriving insights, you can make better decisions that lead to…

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