Heng Xu, associate professor of information sciences and technology at Penn State, is using big data to find hidden patterns to identify influences and influencers in fashion design in order to find emerging trends. The researchers, led by Xu, analyzed 6,629 runway reviews of 816 designers covering 30 fashion seasons over the past four years.
CenturyLink, the third largest telecommunications company in the U.S., announced that is has acquired Cognilytics, a big data and predictive analytics company based in San Jose.
Pratt & Whitney is using predictive analytics to expand its business model, specifically through new and enhanced services initiated through its many-sensored products. The move to predictive analytics "is really a paradigm shift in the way the business has to operate," CIO Larry Volz says in an interview with The Wall Street Journal.
Marketing people and business users: you now have free trial access to some very powerful cognitive, natural language-based predictive analytics and visual analytic tools. It's called Watson Analytics and yes, it's in beta--but my goodness, this is a great way to quickly master data and analytics in your daily work.
Predictive and prescriptive analytics are new territory to most companies working in big data today. For a better understanding of these and other types of analytics, and how to use them, see the FierceBigData Special Report: " How to get the most from descriptive, predictive and prescriptive analytics." But for today's post, let's take a look at their use in finance.
Human beings have a difficult time ascertaining the right method to apply when predicting the outcome of a problem. The company making that assertion demonstrated its own case in point.
Put all three types of analytics together and you get an entire picture of the situation and possible solutions.
It may very well be a supremely useful automation tool for the emerging field of data scientists who need to test mathematical models without building them manually. But that's not the message its vendor is sending.
Splunk made a big splash this week in a series of announcements that aggressively ups their big data game. Topping the list is a deal with Amazon Web Services (AWS) to integrate Hunk on Amazon Elastic Map Reduce. But of equal import are the announcements of an upgrade to the flagship platform and a new mobile tool on the heels of the BugSense acquisition.
Using analytics only for internal reflection is myopic and dangerous. Why? Because you may very well find yourself improving processes and products that will soon become obsolete and understanding customers who are on their way out the door…forever.