Explorium's Data Insights Blog
Where data, marketing, and sales professionals come together
How Data Science Could Have Saved Dunder Mifflin’s Sales
For nine seasons of (now classic) television, The Office’s Dunder Mifflin Paper Company somehow managed to skate by in an industry that has been experiencing a long, slow decline as the world becomes more digital. In Scranton, where the show is based, regional manager Michael Scott somehow manages (despite his best efforts) to build a […]
Economic Data
What is economic data? Economic data measures the financial health or wellbeing of a country, specific regions, or individual markets. It is often presented in comparison with past measures. This data is used to power economic analysis and enrich other categories of financial data. Where does the data come from? The majority of the economic […]
Point of Interest Data
What is point of interest data? Point of interest (POI) data provides intelligence on real-world public places, such as retail stores, restaurants, parks, monuments, and other sites of convenience or tourist attractions. A POI location can be temporary, such as the location of a public event or a small shop. It can also be permanent, […]
Using Explorium’s Data Enrichment to Boost Basketball Ticket Sales
By now, we’re all getting used to the new (less than ideal) normal in sports — watching our favorite athletes play their games in empty arenas as the coronavirus pandemic continues. However, it’s not hard to think of a time in the recent past when we were lining up for tickets to our favorite arenas […]
Should You Be Using Traditional Credit Scores?
Credit scores have an enormous impact on people’s lives and opportunities. This makes it all the more worrying that the precise systems and methods used to calculate them are closely guarded secrets, known to just a handful of influential agencies. More concerning is that what we do know is that traditional credit scoring often gets […]
How To Optimize Your Ad Spend With Data Science
Online advertising has made marketing strategies transparent in ways that would have seemed unimaginable a few decades ago. Today, you have the tools available to trace just about any conversion or purchase back to the content that first caught the customer’s eye. You can track and measure the impact of every variation in messaging. You […]
How to Use Data to Position Your Company For Tomorrow
Money never sleeps, dataflows never slow, and a data leader’s job is never done. You aren’t just thinking about how to make sense of the data you already have, but also the data you need now, the data you may someday need — even the datasets that don’t yet exist, but that you’ll inevitably have […]
What Is Augmented Data Discovery with Explorium?
With so much data in your own stores, it’s tempting to think you have all you need to start producing great predictive insights. This might be true initially, but you’ll quickly run into one (or more) problems. The reason? Your internal data is only looking at your past performance, and not accounting for the broader […]
Top Tips for Data Preparation for Machine Learning Using Python
Your machine learning model is only as good as the data you feed into it. That makes data preparation for machine learning (or cleaning, wrangling, cleansing, pre-processing, or any other term you use for this stage) incredibly important to get right. It will likely take up a considerable chunk of your time and energy. Data […]
Could Machine Learning Help Tom Haverford Save Entertainment 720?
In the world of TV’s Parks and Recreation, few people are as concerned about their image and how they market themselves as Tom Haverford. The erstwhile entrepreneur loves to think up business ideas that range from the quirky (a submarine-themed club named “Club-a-Dub-Dub”) to the successful (tween clothes rental store “Rent-a-Swag”), to the plain bizarre […]
Turning Data from a Cost Center into an Asset
Many organizations see data acquisition and management as a business expense. You may hear questions like, what does it cost to collect and capture this data? What resources do we need to store it? Are analysis, modeling, and other data science projects a priority for us right now? Do we have the budget? It’s understandable […]
Could ML-Powered Risk Models Really Spot OZARK’s Schemes?
It takes Marty Byrde less than three episodes of television to go from white-collar embezzler at a major bank to blue-collar money launderer for the Mexican drug cartels. And boy, does he make it look easy. The money laundering schemes at the heart of Netflix’s hit show OZARK are slick and surprisingly low-tech. While today’s […]
Domain Knowledge in Data Science: Are Your Models Ready for Business?
Data science for business is a very different beast than building models in an academic or purely scientific context. You aren’t looking for patterns simply because they’re food for thought, inspire further questions, or demonstrate interesting dynamics and behaviors. You’re looking for patterns because someone in your company wants to know what action they should […]
How Will Data Privacy Look in The Future?
Never in history have so many government bodies around the world had so much scope, opportunity, and — most importantly — public support to harvest intricate, personal data on their citizens. The global COVID-19 pandemic has seen emergency surveillance measures that would make Orwell gasp, introduced with little resistance even in the most privacy-conscious nations. […]
How To Communicate Your Marketing Questions for Data Scientists
When you make accurate predictions, you make smarter business decisions. This is the core value data science offers to marketers. It’s easy to get caught up in the buzzwords, but AI marketing automation and machine learning tools will only help you if a) you know exactly what you’re looking for, and b) you can communicate […]
Reframing the Connection Between Data Science and Automation
AI has become a buzzword, even as machine learning (ML) and data science push toward automation. We’ve all seen a million articles about how AI will revolutionize this or that, from agriculture to video games. The hype is enough to make anyone skeptical. But in terms of real impact, few areas have really maximized the […]
What Happens When The Definition of Risk Changes?
Risk and probability are based on data. You establish the statistical risk of losing an investment based on other investments that didn’t work out. You assess whether someone is likely to repay a loan based on their credit score and other reliability indicators. But what happens when you want to calculate risk for an incident […]
Asking the Right Questions: How Machine Learning Improves Your Insights
A good data scientist is a bit like a good journalist: they know how to ask questions so precise and to the point that there can be no vague, misleading answer. Data science is all about asking these sharp, specific questions of your data — and the techniques involved in machine learning guides you to […]
