ISDS 2001 Lecture Notes - Lecture 1: Teradata, Recommender System, Deep Learning
11 Jun 2018
School
Department
Course
Professor
Analytics
• the technology driver of this decade.
• Companies such as IBM, SAP, SAS, Teradata, Oracle, Microsoft, Dell and others
o creating new organizational units focused on analytics that help businesses become
more effective and efficient in their operations.
• Decision makers
o using more computerized tools to support their work
o consumers are using analytics tools, either directly or indirectly, to make better
decisions on routine activities such as shopping, health/healthcare, travel, and
entertainment.
The field of business intelligence and business analytics (BI/BA)
• evolved rapidly to become more focused on innovative applications for extracting knowledge
and insight from data streams that were not even captured some time back, much less analyzed
in any significant way.
The term analytics referred to as
• "data science"
• "deep learning and the Internet of Things"
Amazon
• the largest internet retailer in the world measured by revenue and market capital
• has an unrivalled bank of data on online consumer purchasing behavior that it can
mine from its millions of customer accounts
• Uses
o Recommender system that recommends products to consumers on the site
o click-stream data and historical purchase data from the millions of users and
each user is shown customized results
o Big Data to offer superb customer service
▪ Big data Monitors, tracks, and secures its millions of items in its retail
stores across the world
• has a clear understanding of what people actually buy and therefore what they are
looking for and what they need. This is much more valuable information and this could
definitely grow Aazo’s advertising revenue in the coming years.
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• Moved away from a pure e-commerce player to a giant online player who offers
more than just products
• Changing from an online retailer to a big data company
Walmart
• The world's largest company by revenue
• Big data sets are mined for us in predictive analysis, which allow the company to
optimize operations by predicting customer's habits.
Moviepass
• American subscription-based movie ticketing service
• change in business model came when it was bought out by an analytics firm
• Helios and Matheson, who sought to widen the service's reach so it could collect more
information on customer viewing habits.
• goal of the pricing changes was to increase its user base, as they aimed to analyze
viewing habits for the purposes of targeted advertising.
• Compared the model to those of Facebook and Google, where their free services are
subsidized by the collection of personal information for advertising.
Opening Vignette on Sports Analytics
• Two Types
o Ticket prices
▪ used to drive up one time ticket sales
o Heat maps
▪ used to predict offensive tactics
Traditional reporting
• manual process of collecting and aggregating financial info and other info
• Organizations have used this time-consuming process as a way to obtain information
for making decisions. Traditional reporting is still used in organizations, however, the
resulting presentations may be flat, slow to develop, and difficult to apply to specific
situations.
How can analytics be used to transform traditional reporting
• provides up to date executive insight
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