Explorium's Data Insights Blog
Where data, marketing, and sales professionals come together
Bias or Variance? How Each Affects Your Model and Why You Should Care
We all want our models to be as accurate as possible. While you can’t control every factor that interferes with accuracy, there are two types of “reducible error” that you can address. These are machine learning bias and variance. The trouble is, each of these issues relates to opposite sides of a data problem. As […]
The “IT” Factor: Why Alternative Data is Key to ML Marketing Automation
Machine learning (ML) and marketing operations go hand in hand. But are you confident you have all the data you need to support your marketing automation tools? If you can’t find it from inside the organization, do you know where else to look? The chances of being able to answer all your business-critical questions with […]
A Brief Introduction to Predictive Model Deployment
You’ve built your model, you’ve located your data sources, and you’ve done all the initial processing and ETL to get your data how you want it. Now you’re ready — or almost ready — to deploy your predictive models in the real world. But wait! Before you go further, you need to appreciate that this […]
2021 Will Be an Inflection Point for Data Science and Fintech
It’s getting crowded in fintech. That’s not a new revelation or anything, but it’s a trend that’s had a lot of serious consequences — especially as we start 2021 and look ahead to the next twelve months (or more). The fintech field — which covers a wide range of sectors and services — has exploded […]
ECommerce is Pushing Forward in 2021, and ML is The Way
ECommerce is no stranger to data. Brands that sell online rely heavily on data for targeting customers, creating unique offerings, and setting themselves apart from the pack. Particularly in 2020, when lockdowns worldwide sent demand for online shopping soaring, companies needed to find ways to provide unique experiences in an increasingly crowded market. In some […]
Property Data
What is property data? Property data provides intelligence on properties, including ownership, property address, property tax records, transactions, commercial and residential property, rental property, investment in real estate, land use, building permits, legal descriptions, owner name, and property records. Real estate investors use property information to make data-driven investment decisions. Personal property owners, commercial property […]
What is Feature Engineering?
Your data is teeming with potential insights, ready to be teased out by predictive models. But doing that isn’t only about knowing what questions to ask or how to translate them into the right kinds of algorithms. It’s also about identifying and creating the most fruitful, predictive indicators — the features — in the dataset. […]
Best of the Best: Our Top 10 Blog Posts of 2020
2020 is almost over, and we’re already fully looking forward to 2021. Even so, we can’t help but take one last look at the year that was. At the Explorium blog, we covered quite a bit of ground, exploring some interesting areas of data science, diving into machine learning (ML) for business, and even throwing […]
Looking Back and Predicting 2021: Q&A With Shai Yanovski
2020’s been a crazy year, but even with (or, should we say, because of) all the insanity, data science has had a whirlwind 12 months. The COVID-19 pandemic brought the field into the spotlight as the world attempted to grapple with and understand what was going on and how to quantify it. More importantly, data […]
The Data Science Buzzwords and Acronyms That Defined 2020
Another year gone, and another round of retrospectives and looking back at what was and is coming. Data science had quite the 2020, but like most tech fields, it was also full of terms, buzzwords, and acronyms. Buzzwords come and go, and sometimes they take on a life of their own. Others get used so […]
How Data Science Evolved in 2020: Q&A With Jon Shepherd
2020 felt like a rollercoaster at the best of times and a highway with no exits at others. However, it’s no secret (or surprise) that the massive uncertainty created by the year’s events led to a need to understand the landscape better. From COVID-19 to natural disasters to a ferociously fought US election, 2020 was […]
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 […]
