What is econometric modelling?

Data and statistics have become all-pervasive and are even used in global economics. This is called econometrics and allows economists to estimate and analyse things such as the effect of changes in the number of years of education on people’s wages. For businesses, complex econometric statistical models can help to answer key questions of what really drives their key KPIs, …

Why the Internet of Things is big news for big data

In case you’ve been buried under a rock for a couple of years, the Internet of Things (IoT) is the name given to the increasing number of internet-connected sensors attached to objects with the potential to track, analyse and act upon the data they produce – often without human involvement or intervention. The key question, of course, is what benefits …

What is prescriptive analytics?

It’s not enough to just have access to a lot of data – it has to generate useful insights. The entire science of data analytics is based on this idea. But ‘data analytics’ is a term that covers a wide range of activities. Businesses can use their data to look at what has happened, why it happened and, ideally, make …

Data Agility

Why you need to be agile with your data

Thanks to technology, business has transformed in recent years – and the pace of change is, if anything, getting faster. Who would have known twenty years ago that most of us would browse the internet every day on our mobile phones; or in 2005 that something called Twitter would be the main channel for customer feedback; or even five years …

Data Mining

What is data mining?

So, you have access to a lot of data (perhaps even ‘big data’). Congratulations. However, you need some way to turn all those numbers into something useful. You need to see the correlations, the patterns and the relationships – and then apply them to derive some sort of actionable value. Perhaps even make predictions. That’s where data mining comes in. …

Big Data

What is Big Data as a Service?

Even though the term ‘big data’ is, at best, nebulous, there’s no doubt that businesses currently have to deal with larger datasets than ever before. Sorting through millions of social media posts or the shopping activity of endless online consumers is far from easy, but doing so can lead to valuable insights. So, just as Software as a Service (SaaS) …

Data Consolidation

What is data consolidation and why does it matter?

With so many sources of data available to businesses, it can be really difficult to know where the opportunities lie. Wouldn’t it be so much easier if you could see everything all in one place? Data consolidation means collecting, linking and integrating the information from different sources into a single destination. It can involve combining a few Excel spreadsheets into …

Data Predictions

What’s next for data – eight predictions

Data is, as you might imagine, a subject pretty close to our hearts here at Jarmany. So it’s no surprise clients often ask us not just what they should be doing with data today, but what they should be planning to do with it tomorrow. We’ve given the subject a lot of thought and gazed into our crystal ball. Amidst …

Big Data

What is big data and is it still relevant?

As far as hackneyed phrases go, you’ll have to go some way to top ‘big data’ right now. It’s been used so much and by so many companies that its meaning, which was never that clear to begin with, has been all but lost. Yes, there’s still a blizzard of information coming at us from every angle. According to IBM, …

Real Time Dashboards

The many benefits of real time dashboards

Real time data is just that, a real time window into your business. Present data simply, with clarity and hey presto – you can react to events as they happen. If something is working it can be invested in further, while problems are recognised and hopefully solved as they happen. While historic data is good for background, past trends and …