Explorium's Data Insights Blog
Where data, marketing, and sales professionals come together
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 […]
To Really Know Your Customer, You Need A Risk Modeling Platform Fueled by External Data
By now, everyone and their dog has seen the true-crime thriller Dirty John on Netflix, but just in case you’re the exception, here’s a quick summary: smart, successful woman meets a charming man with a suspiciously empty past. Red flags start popping up all over the place, but each time, the heroine gives her charming […]
Conceptualizing a Model To Predict Successful Hires: Reframing the Problem
The bad hire has been a problem in recruiting for as long as we’ve been doing it, but it seems that no matter how we try, it’s hard to predict how well someone will pan out once they actually start their job. Even in today’s data-rich world, with the incredibly granular view we have of […]
5 Ways Data Science Can Help You Improve Your AI Marketing Automation
AI marketing automation has completely changed the game for digital marketers, allowing you to launch and scale campaigns swiftly, try out different ideas, and pivot quickly as new opportunities arise. The time-saving and cost-cutting potential is enormous. To really get the most out of your campaigns, though, you need data science. That’s because automating marketing […]
Business Credit Rating Data
What is business credit rating data? Business credit rating data is a part of business information and company data and offers an assessment of a company’s financial solvency and creditworthiness. It provides a score ranging from 0 to 100, and a higher score indicates a better credit rating. This data helps companies evaluate potential B2B […]
Worried About iOS 14? Here’s How External Data Can Help You Prepare
Leave it to Apple to suddenly drop a tidbit of news that shook an entire industry. The company announced that it would be releasing a numbered update to its mobile iOS software — iOS 14 — which would add some quality-of-life fixes, along with some new and possibly revolutionary features. However, despite a redesigned home […]
How Explorium’s Automated Feature Engineering Improves Your Data Science
So, you’ve built a dataset you’re happy with, and your machine learning (ML) model ready to start making predictions left and right. Easy as pie, right? Well, it depends. Once you have a dataset that’s worth using to train your models, you need to build a feature set that will actually get you the predictions […]
4 Steps You Must Take to Prepare for Predictive Model Deployment
When Ford released the Edsel, its brand-new, mid-range model, in 1957, the company was confident it would blow the competition out of the water. After all, Ford had spent ten years and $250 million developing this car. They’d conducted extensive, exhaustive market research. The data they’d painstakingly accumulated suggested the Edsel would easily outperform sales […]
