Using Data to Make Smarter Video Decisions

Data-based decision-making is a strategy that uses data to inform business decisions. Rather than relying on guesswork, predictive analysis uses historical data to predict future events. This data is used to create a mathematical model that captures important trends, which can then be used in current data to predict what will happen next or suggest actions to take for optimal results. Big data is often analyzed in the context of predictive analysis.

Engineering data, for example, comes from connected sensors, instruments and systems around the world. Business system data can include transaction data, sales results, customer complaints, and marketing information. Companies are increasingly making decisions based on this valuable information - with more than 7.7 billion people on the planet, the amount of new information is equivalent to more than 25,000 one-hour videos. For example, the marketing operations team at Chase uses predictive analysis to influence website design decisions, promotional materials, and products such as the Chase mobile app. This process leverages heterogeneous data sets in models that can generate clear and actionable results to support the achievement of objectives such as less material waste, less inventory stored and manufactured products that meet specifications.

Data visualization is an accessible way to see and understand trends, outliers, and patterns in data through visual elements such as tables, graphs, and maps.

Kaiden Lee
Kaiden Lee

Proud coffee maven. Subtly charming tv lover. Infuriatingly humble pop culture ninja. Avid travel nerd. Passionate twitter fanatic. Unapologetic food junkie.