Mar/Apr 2013

If you’ve used the streaming service of Netflix, bought something from Amazon or connected with “people you may know” on LinkedIn or Facebook, then you’ve used a recommendation engine. And chances are, you’ve watched more movies, bought more stuff and are less likely to churn because of them. These engines work.

• Christopher Berry

Big data means different things to different people. In the context of forecasting, the savvy decision-maker needs to find ways to derive value from big data. Data mining for forecasting offers the opportunity to leverage the numerous sources of time series data, both internal and external, now readily available to the business decision-maker, into actionable strategies that can directly impact profitability. Deciding what to make, when to make it and for whom is a complex process. Understanding what factors drive demand, and how these factors (e.g., raw materials, logistics, labor, etc.) interact with production processes or demand and change over time are keys to deriving value in this context.

• Tim Rey
• Chip Wells