By Melvin Greer,
Chief Data Scientist,
Data Science has matured as a core competency necessary to sustain competitive advantage. Organizations of every size and industry are generating valuable data with each interaction that can be captured, analyzed and turned into business insight. These organizations are using data science and AI features like dashboards, advanced visualization, data warehousing and other technologies to achieve their strategic business objectives. Many companies are using a hybrid cloud analytics approach to data analysis.
A key feature of any data science and AI strategy is the use of the hybrid cloud ability to leverage cloud elasticity. Organization’s data can be processed across clusters of computers. This means that the analysis is occurring across multiple cloud compute environments. As the need for more compute power grows, the cloud can scale with your requirements. Cloud-based business analytics capabilities provide organizations with the ability to make smarter decisions that better address real-time business imperatives.
Data science and AI capabilities are moving beyond the traditional business intelligence, and forward leaning organizations are analyzing data in new ways to distance themselves from the competition. Data science is allowing the alignment of the right customers to the right solution, identification of customer patterns of behavior and faster resolution of customer service issues by correlating and analyzing a variety of data.
Machine learning and natural language processing have moved from research labs to become a business differentiator —fusing the benefits of internet speed, cloud scale, and adaptive business processes to drive insights that aid real-time business decision making. Cognitive analytics is the application of cognitive computing technologies to enhance human decisions. Organizations improve the ability to sense and respond by applying cognitive analytics to harness the power of the big data. Cognitive analytics assist in the processing and understanding of big data in real time, in the face of the ever-increasing volumes of data and the endless amount of data fluctuations in form, structure, and quality. Cognitive analytics can extract content, embed it into semantic models, evaluate hypotheses and interpret evidence, provide potential insights—and then continuously improve them.
Data science and AI tools are the enabling technologies that provide information, knowledge and insights to organizations assisting them to make better decisions. It helps organizations understand where money is being spent and the measurable value they are realizing from that spend. The use of analytics has surged as smart organizations are harnessing its power to improve efficiency. In today’s competitive market, business leaders are sprinting to turn data into business insights for sustained business growth.
Melvin Greer is Chief Data Scientist, Public Sector, Intel Corporation Melvin is responsible for building Intel’s data science platform through artificial intelligence, machine learning, and cognitive computing to accelerate transformation of data into a strategic asset for global enterprises.
Melvin is the award-winning author of the bestselling book, 21st Century Leadership, and the Managing Director of the Greer Institute for Leadership and Innovation, focused on the maturing of new leaders and the growth of future innovators. Melvin Greer has written for, or been covered by, The New Times, Washington Post, Federal Computer Week, Forbes, Computerworld, Government Computer News. Washington Executive and Bloomberg News.