The generation of data

We are living in the age of the fourth industrial revolution where data is the new electricity.

Each day, around 2.5 exabytes of data is created and the need for data has risen tremendously over the last decade. Data analytics is increasingly adopted across industries, starting from Retail, E-commerce, Logistic, Medicine and up to Manufacturing and Education.

Studies show that data-driven organizations can make better strategic decisions, maintain high operational efficiency, increase revenue and customer satisfaction.

Perks of data-driven organizations

In order for a business to exist and grow continually, it is vital to make the right strategic decisions. When data analytics is used properly, it plays a very important role.

On the one hand it helps to specify what currently exists, so you can forecast the impact of any decision on your business.

On the other hand, data is logical and concrete in a way that intuition is not. By including objective elements for your business decisions you instill confidence, which allows you to commit fully to a particular vision or strategy without being worried that the decision you made is right. As a result, you can identify business opportunities before your competition does, or detect threats before they grow seriously.

Benefits in numbers

The main objective of any company is to minimize the expenses and to maximize the profit. Data analytics plays a vital role when it comes to increasing profit and reducing costs, and it is substantial in order to achieve a balanced Business Strategy.

According to a report on “Big Data Use Cases 2015 — Getting Real On Data Monetization“, 40% of the companies leveraging data are enjoying diverse benefits like a better understanding of consumer behavior (52%), better strategic decisions (69%), and cost reductions (47%).

Moreover, the organizations have reported an average of 10% reduction in costs and an 8% increase in revenues from analyzing data. As we can see from the results, you obtain significant positive impact when you know how to read and apply the data reports correctly.

How Data Drives Customer Satisfaction

Furthermore, most successful companies in the world are focused on consumer satisfaction as well.

Customers want to have a smooth experience and communication with companies in order to avoid inconveniences and frustrations. According to research, the probability to sell to existing customers is between 60% and 70%, while selling to a new customer is 5-20%. 

To control this situation, companies use different data analytics strategies to collect information from different channels in order to better understand and identify customers’ needs and history, so they can adjust the sales and marketing strategies appropriately.

Beware of the right data interpretation

However, one should be aware that, just because decisions are based on data it does not mean that it will always be correct. If the data interpretation or the collection is incorrect, then the decisions based on the data would be inaccurate.

That’s why it is very important to seek professional help in order to avoid these inconvenient situation for a business to occur.


Find out about our success stories in the reference below or talk to one of our Data Science experts

Niologic is a certified Google Cloud Machine Learning Partner

As of now, all of our team members are certified Google Cloud Professional ML Engineers as well as Google Cloud Professional Data Engineers. A new milestone in our partnership with Google Cloud.

Absatzplanung in der Logistikoptimierung

We support innovative solutions in logistics, retail, and e-commerce. Within a logistics optimization, we were able to sustainably increase M2M communications between robots.

We regularly get more than 500 applications per job posting. If you plan to apply, please keep on reading how to get hired as an AI expert (Data Scientist or ML Engineer) at niologic. 

First of all, we look for extraordinary personalities who have already proven success in their academic career. We appreciate people with international experience and global thinking as our clients are international and globally connected. You should bring international experience to the table e.g., a semester or an internship abroad, Bachelor, Master or PhD done in different countries etc. Multiple spoken languages are a plus.  

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2020 marks the celebration of our companies 5th anniversary. Having entered the market in 2015, we have had the fortune of being involved in exciting and diverse customer projects. Thank you for your trust.

new-office-vilnius-lithuania

Niologic opened up a new office in lithuanian capital Vilnius. As from now we will join forces with our team in Lithuania to take on exciting project within AI and Data Science.

Las Vegas, USA, Sept. 11th 2017: Today, Worldhostingdays, the organizers behind the leading conference series for domains and webhosting, and niologic announced a strategic partnership. Both partners will cooperate in providing detailed insights and analytics for the visitors of the conference series, starting with today’s conference in Las Vegas.

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We meet a lot of managers and executives who have transformed their software and hardware engineering into an agile manner. The degree of adoption and success is surely varying with peoples’ passion and budgets. The next wave of evolution is Artificial Intelligence (AI), particularly Data Science. With citizen blockchain already doing the paperwork for the next initiative – I believe AI to be an extension to engineering paving the way for intelligent software, as Tim O’Reilly stated. Consequently, I suggest herein a new role for agile teams: The Product Analyst, which is a data scientist embedded into multifunctional software teams.

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Wir haben die Beschreibung unserer Lösungen um vorausschauende Polizeiarbeit (Englisch: Predictive Policing) erweitert. Near-Repeats bzw. Wiederholungstaten bei Wohnungseinbrüchen können somit lokal eingegrenzt werden und durch entsprechende Polizeiarbeit konzentriert bekämpft werden. Diese Vorhersagen beziehen sich auf die unmittelbare Zukunft weniger Tage. Auch lassen sich Krminalitätsschwerpunkte erkennen und Defizite aufdecken.

In der nahen Zukunft werden wir eine entsprechende Fallstudie online stellen.