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Data Science

Demand Forecasting For Retail: A Deep Dive


I know for sure that human behavior could be predicted with data science and machine learning. Taking a look at human behavior from a sales data analysis perspective, we can get more valuable insights than from social surveys. In this article, I want to show how machine learning approaches can help with customer demand forecasting. Since I have experience in building forecasting models for retail field products, I'll use a retail business as an example. Moreover, considering uncertainties related to the COVID-19 pandemic, I'll also describe how to enhance forecasting accuracy.

Pros & Cons Of Artificial Intelligence App Development


When you want to incorporate AI into your own mobile development procedure, it is important to learn how AI functions for different kinds of applications. Artificial Intelligence is a major portion of the mainstream these days as its innovation is integrated into almost all contemporary devices. Right from predictive analytics to chatbots, developers & organizations are constantly examining ground-breaking approaches for utilizing AI for delivering enhanced client services & reconsidering business procedures. The classifications of Artificial Intelligence in mobile application development companies are varied. It can be categorized into weak & strong.

Using AI To Identify Your Best Customers In The Future


Using AI to boost sales is not a new idea. In fact, back in 2017, the Harvard Business Review did an extensive story about one sales office of motorcycle maker Harley Davidson that was able to increase sales from two bikes per week to 15 per weekend using AI-powered marketing support. If predictive analytics increased sales leads by 3,000 percent back in 2017, what's it doing for businesses now? AI and predictive analytics are still making an impact for businesses in terms of identifying customer trends, building customer profiles, and constructing tighter potential target audiences. However, it's also doing a lot more, both in terms of how it's able to gather data and how it's able to use it to offer customers the personalization they want and need.

How AI is Revolutionizing the Process of Fintech Firms?


Artificial Intelligence has revolutionized the finance industry. Not only does it improve the precision level in the industry, but it also enhances the customer engagement level and speed up the query resolution period. In this blog, we will be finding out answers about the importance of AI in financial sectors or FinTech firms. By the year 2030, traditional financial institutions can shave 22% in costs, as per the latest 84-page report of the Autonomous in an AI in the financial industry. Fintech companies and financial firms were the early adopters of relational databases, mainframe computers, and have eagerly awaited the next generation of computational and analysis power.

DS 101: Machine Learning & Modelling in Theory & Practice


Modeling is a fundamental aspect of any science. This fact is particularly apparent in data science. The key aspects of modeling that make it important for science are: (1) models are representations of things that cannot be fully understood or known (e.g., predictive models are essential to predict a future outcome, unless you have access to a time machine that we don't know about); (2) models can give us new insights into those things, including their behaviors, responses, and characteristics (especially in previously unseen conditions), thereby potentially revealing causal factors for observed outcomes and informing prescriptive actions to optimize outcomes; (3) models provide testable predictions to validate our assumptions and hypotheses about things (otherwise, it's not science); and (4) models can help answer questions that are not otherwise answerable (e.g., we can pose "what if" scenarios safely in a model environment that we would not be able or allowed to test in a real life situation). In data science, we use observation (data, evidence) to inform and inspire our models, we use machine learning (algorithms that learn from patterns in the data) to build testable models, and we use the scientific method to verify, validate, and/or refine our models. The ideal goal of these activities is discovery from data, specifically actionable insights discovery.

Monash University and The Alfred to develop AI-based superbug detection system


Monash University and Alfred Hospital are developing an artificial intelligence-based system to improve the way superbugs are diagnosed, treated, and prevented. According to Monash University professor of digital health Christopher Bain, infections from superbugs kill 700,000 people every year and by 2050, the world could see 10 million deaths annually from previously treatable diseases. Superbugs are created when microbes evolve to become immune from the effects of antimicrobials. The project, which will be mainly based at The Alfred, has received AU$3.4 million from the federal government's Medical Research Future fund. According to the project's lead researcher, Antony Peleg, the project will look to integrate genomics, electronic healthcare data, and AI technologies to address antimicrobial resistance in the healthcare system.

4 ways Data Scientists fool us


The idea of analyzing data for decision making has been around for many years, but the popularity of data science has exploded along with the FAANG companies' growth in recent years. No matter your job title, experience level, or industry, I am confident that you will encounter solutions or products that are highly'data-driven' or powered by Artificial Intelligenceᵗᵐ. Here are the Top 4 methods used by data scientists to fool others. As a Machine-Learning researcher and practitioner, I have made these'mistakes' myself in the past, sometimes even unknowingly! "Our model achieves an accuracy of 98.9%"

How to Increase Group Insurance Sales with AI - Global IQX


During peak business periods for group carriers, such as open enrollment in the United States, artificial intelligence can be leveraged to increase group insurance sales by streamlining quoting, optimizing resources, automating manual tasks and eliminating duplication of effort before and during enrollment. Peak enrollment period is here once again as group and voluntary benefits providers put their remote work arrangements to the test in what will be an unusually demanding season. This year has been the year of digital transformation in the insurance industry, and 2020's challenges will inspire new approaches and digitization within carrier ecosystems. Fortunately, insurers can use AI and predictive analytics to increase group insurance sales. AI can help carriers streamline quoting and enrollment, optimize resources, and automate manual tasks.

The Data Science Course 2020: Complete Data Science Bootcamp


Data scientist is one of the best suited professions to thrive this century. It is digital, programming-oriented, and analytical. Therefore, it comes as no surprise that the demand for data scientists has been surging in the job marketplace. However, supply has been very limited. It is difficult to acquire the skills necessary to be hired as a data scientist.