Explorium's Data Insights Blog
Where data, marketing, and sales professionals come together
How Our COVID-19 Signals Give Businesses Better Decision-Making Capabilities
COVID-19 has hit almost every industry hard, and we’ve been left grasping at straws trying to make sense of our new reality. One of the biggest blows we’ve suffered is that our old data has become, to put it nicely, mostly useless. So what can we do, in this new landscape? The first step is […]
Data Bias and What it Means for Your Machine Learning Models
We’d all like to imagine that the machines, systems, and algorithms we create are objective and neutral, devoid of prejudice, free from pesky human weaknesses like bias, and the tendency to misinterpret a situation. However, this simply isn’t the case. Sure, an automated machine learning tool or data science platform won’t privilege certain types of […]
Tourism Data
What is tourism data? Tourism data provides comprehensive information about the travel and tourism industry, international tourism, and domestic tourism. It includes transaction-level information such as tourism expenditure on flights, car rentals, mode of transport, hotel stays, restaurant visits, and visits to attractions. It also include data on inbound tourism as well as outbound tourism. […]
Business Review and Rating Data
What is business review and rating data? Business review and rating data includes reviews and ratings about companies and the quality of their products or services. It may also include salary information and reviews from employees rating the companies as employers. This data provides feedback from customers and employees, offering insights into […]
Fraud Has a Bigger Impact in Crises – Can You Afford to Sleep on It?
In normal times, fraud is a problem — albeit one that has steadily grown over the past few years. It’s for good reason, too. Fraud is big business, no matter where in the world you operate. The FBI estimates that the cost of insurance fraud (not counting health insurance) is roughly $40 billion a year […]
How Data and Analytics Leaders Can Avoid Roadblocks to Data Acquisition
In times of crisis, organizations look for things to hold on to that give them a sense of certainty. After all, uncertain times mean tough going for business as usual, and also mean that you’re likely navigating in unknown waters. One of the first places an organization will turn to for answers is its data, […]
4 Practical Ways Marketers Benefit From Data Science-as-a-Service
COVID-19 has been a system shock to marketers everywhere. Organizations have had to ditch their existing plans as they find that they’re no longer relevant, and businesses must change the way they operate. In situations like this, it can be easy to get bogged down by tools claiming to save your efforts with all buzzwords […]
COVID-19 Broke Your Risk Models. This is How External Data Can Fix Them.
The previous decade has been one of impressive growth and massive profits for financial services providers. As the global economy bounced back from the recession, new regulations, improved technology, and a friendlier landscape for lenders meant that financing and loans were easier than ever to come by. Over ten years later, it took only three […]
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 […]
Tomorrow Comes Today – Using External Data to Cut Through the Unpredictability of Crises
“Only a crisis — actual or perceived — produces real change.” – Milton Friedman The start of 2020 has been one of the most turbulent on record for the global economy and for businesses everywhere. As fears over the spread of COVID-19 (also known as novel coronavirus) reach a fever pitch, national economies have stalled, […]
How SMBs Can Boost Their Bottom Line With External Data
There are some insights that can only come from the data you produce or collect in-house. Historical sales figures, for example. Foot traffic through your store. Sign-ups and downloads of your app. But no matter how complete that data, no matter how intelligent your prediction models, you don’t exist in a vacuum. You can’t collect […]
How Much For The Set? How You Can Monetize Your Datasets
Data science websites overflow with tips for organizing and handling your data, improving visibility and gaining insight into your company’s performance. The question is, though: how do you turn this into cold, hard cash? Buckle up, because you’re about to find out. How Does Data Monetization Work? Before we take you through the process of […]
Understanding and Handling Data and Concept Drift
I know you’ve heard this a million times, but I’ll say it one more time: nothing lasts forever. Youth is not eternal, your phone gets slower, and machine learning models deteriorate over time. Like the second law of thermodynamics says, over time, things tend towards disaster. In the world of machine learning, this translates to […]
NAICS Data
What is NAICS industry data? Industries ranging from agriculture to finance are classified into various categories and then assigned codes. This categorization of industries organized by NAICS (the North American Industry Classification System) codes is industry NAICS data. This data provides key information on a region’s diverse industry sectors, business establishments, retail trade, county business […]
Map Data
What is map data? Map data is a part of geospatial data. It data includes geographic information such as political boundaries, weather patterns, infrastructure information, real-time traffic, and points of interest. Map data is typically in an interactive visual format. Individuals, businesses, and governmental organizations use map data for geocoding and accessing a wide variety […]
Location Data
What is location data? Location data presents geographic information about precise locations expressed in coordinates for devices such as mobile devices, mobile phones, smartphones, tablets, smartwatches, or IoT devices. This data is valuable for many reasons, such as emergencies, including missing persons, individuals in danger or affected by natural disasters. Businesses use this data for […]
Stay Inside The Lines: Coloring With Artificial Intelligence
After a few months with no side projects on my plate, I was eager to create something new. I’ve made it a routine to try and create AI that competes with my nephew in games he’s playing (just like in my previous posts). So, I asked my nephew what game he’s playing at the moment […]
Support and Coverage – Data Integration Metrics You Should Know
Data enrichment is a crucial step in the modeling process that data scientists tend to overlook due to the difficulty in finding and utilizing external sources. Before getting to engineer features, each modeler should ask themselves: “is that all the relevant data? Are there, maybe outside of the organization, additional sources that could generate impactful […]