Explorium's Data Insights Blog
Where data, marketing, and sales professionals come together
The Need for Better External Data Discovery in 2021
I don’t think anyone was expecting 2020 to end up the way it did. In many ways, it’s safe to say that it’s been a very long time since we had such an eventful year, for better or worse. Even so, 2020 was not all bad. Even with the difficult times, technology offered people and […]
How to Approach Data Preparation Using Python
As they say, the proof is in the pudding, and data preparation is where the pudding is put together. Any mistakes you make here will be baked into your dataset and later your model deployment, becoming harder to fix as you approach deployment. Fortunately, using machine learning (ML) tools like Python can help you avoid […]
Retail Data
What is retail data? Retail data provides information about retail stores, companies, markets, industries, and regions. This information powers market research, industry analysis, and retail data analytics for increasing sales, driving growth, and better decision-making. All retail businesses use this data to get a clear picture of their company and its market segment, perform competitor […]
Should You Use ML To Predict Small Business Default Risk?
Small businesses looking for loans today have more choices than ever. Online providers are lowering barriers to entry, making it easier and faster to apply for credit. The trouble is, this also means more credit for the risky borrowers. A risk that is, of course, passed on to lenders. But what’s a lender to do? […]
Foot Traffic Data
What is foot traffic data? Foot traffic data, sometimes called footfall data, is the number of consumers passing through and visiting specified areas such as retailers (retail stores) or shopping malls. The data indicates the number of people in the area during specified times, frequency of store visits, and the duration of stay. It provides […]
Consumer Survey Data
What is consumer survey data? Consumer survey data provides a collection of answers and survey results given by consumers on a wide range of topics. Several market research companies carry out interview surveys to understand consumer preferences. Companies use this data to gain consumer insights, measure consumer satisfaction, and perform audience research. Where does consumer […]
Funding Information
What is funding information? Funding information is part of company data, indicating funding rounds, amounts raised in each round, the specific investment stages, investors, and other financial data points of companies. It can also include information about institutional or individual public investment. This type of data offers insights into the financial health of a […]
How To Include Data Science Platforms in Your 2021 Budget
A good data science platform alleviates a ton of your data-related headaches. It connects to multiple data sources, including external data sources, and offers ETL tools. Augmented data discovery tools help you fill in gaps in your data. Feature engineering boosts accuracy and insights. It supports your machine learning modeling, and may even suggest the […]
ML Initiatives Aren’t Doomed To Fail — If You Build Them Right
Not to sound alarmist or anything, but machine learning (ML) initiatives can be risky. It’s true, they sound amazing, and you hear success stories left and right about the transformative power of ML. But, the hype sometimes drowns out the reality. The rush to get ML projects online is understandable, as they have real, tangible […]
Is Your Marketing Machine Ready for Black Friday and Cyber Monday? ML Can Help
Black Friday is just around the corner, and while for many retailers it’s the most wonderful time of the year, for others it’s the most anxious. Websites and physical stores are raising their optimization game, seeking to direct the spike in customers to their own outlets. Those who aren’t sure how to compete are set […]
How Explorium Upgrades Your Data Pipeline
Let’s say you own a factory that makes computers. You need to have a steady pipeline of parts and raw materials. You can approach this necessity in two ways. The first way is to simply look at what you used during the last batch and make a new order every time. The second is to […]
Bankruptcy Data
What is bankruptcy data? Bankruptcy data presents complete details about the legal status of a company as a result of its declared bankruptcy. Companies declare bankruptcy and are either liquidated or reorganized. They file for bankruptcy to eliminate or repay their debts in full or in part, as directed by the bankruptcy court. This type […]
Without Data, There’s No ML — Why You Should Focus on Data First
Like Italian cooking, data science is all about quality ingredients. It’s not enough to simply have a lot of data; you need to make sure the data you have is good. That it’s relevant for your purposes. That it’s cleaned and prepared right. That you have enough of the data you need and have removed […]
Data Science v Data Analytics — What’s the Difference, and Do You Need Both?
A few years ago, a friend of mine was traveling solo through Kazakhstan when he got chatting to a friendly local who described himself as an emcee. Now, my friend is a huge hip-hop fan, so he was very enthusiastic to find out more about the Almaty rap scene. “You wanna see some of my […]
Direct Mail Isn’t Dead – Here’s How Explorium Can Help You Make it Work
With the increasingly digital lean in marketing, it’s easy to assume that the “old ways” like direct mail are going the way of the dodo. While it might be tempting to agree, given the almost monolithic focus we put on digital channels, you might be surprised to find that direct mail is doing just fine. […]
4 Ways To Know If You’re Using the Right Data Preparation Tools
There’s nothing more frustrating than laboring away at the early stages of your data science project, only to discover that the success of your model is undermined by mistakes or oversights made from the outset. Data preparation takes time and care to get right — and if you do, you’ll be off to an excellent […]
Machine Learning in Retail: Building Smarter Inventory Models
Who could possibly have known, back in those carefree days of early January 2020, that the best-selling items of the coming months — the products to really fly off the shelves around the world — would be face masks, hand sanitizer, and toilet paper? But then, who could have known at the start of 1996 […]
How to Use Data and Customer Scoring Models to Create Perfect Personalization for eCommerce
For years, the retail sector has fretted over the decline of brick-and-mortar stores, but thanks to the global pandemic, in-person shopping may have come to an end sooner than anyone could have imagined. With stores closing en masse and internet purchases soaring during the shutdown, there’s more competition than ever to provide an online experience […]