Internal data is the first place companies look once they think about analytics and insights. However, they shouldn’t overlook the wealth of value gained from mining external and third-party datasets.
Information about your operations, such as sales transactions and operational performance, can let you know what’s happened in the past and assist you in making educated guesses about what’ll happen in the future. External data sources can help you understand what your competition does and how trends such as, for example, consumer behavior patterns, market dynamics, or even the weather can impact your performance. For me, an comprehension of both is essential today if you intend to take advantage of the transformative opportunities provided by data and analytics.
Artificial intelligence (AI) and machine learning, fueled by data, quickly become a vastly transformative force in many industries and markets. However, not every company gets the resources of an Amazon or perhaps a Walmart that allow it to generate vast levels of proprietary, internal data from a customer base of millions. Fortunately, external data could be just as helpful and benefit from being readily available to more or less anyone.
Through the Covid-19 pandemic, rapidly changing behavior meant that businesses’ existing models to predict demand or forecast change became obsolete overnight. A massive amount of their internal data now held little use. In this period, companies often found that external data was key to building new models to predict how people react to changing circumstances. Data on internet search traffic was precious for sets, from tracking the spread of the virus to predicting where behavior changes would be most severe to understanding people’s new priorities in a changing world.
External datasets may be publicly available – for example, many governments make a wide selection of the information available through portals such as data.gov and data.gov.uk. Alternatively, they may be privately held and designed for free (for example, Google’s basic search and trends data services) or for a cost. Companies such as Nielsen and Experian provide marketing and demographic data from many sources, and niche providers have emerged carrying specialist datasets of value to many different industries.
When one US glass manufacturer sought to diversify its revenue streams, it found that it could predict where window repairs were most likely to be needed by analyzing publicly available crime data. It could quickly build a profitable new business unit providing emergency repairs by streamlining its supply chain and prepping mobile repair units. On an industry-wide scale, finance and bank card companies have long used external data from credit reference agencies to measure lending risks to individual customers. And property businesses use public databases of property sales to estimate the worthiness of houses they buy, sell and lease.
Special mention must also get to the role that external data plays in the transformative power of the “digital twin.” This can be a simulated version of a company, something, or a process that may be used to predict how different variables will affect its performance in the real world. As the “twin” model is generally built using internal data, external data may be used to simulate the “world” that the twin exists in. For instance, Goodyear creates simulated versions of its tires using data from its manufacturing processes. After that, it uses external data on the structure and condition of road surfaces and weather data to generate realistic environments that may be used to predict the performance of new tire prototypes.
Of course, there’s no such thing as a free lunch, and you will find challenges as it pertains to working together with external data, even if it’s provided at no cost. One is that as there isn’t direct control of the method of capturing the information, you may find yourself overly reliant on the information provided, which might vanish or drastically alter its types of operation. If you’ve used resources to create analytics tools around these services, and they suddenly aren’t available anymore, this might be a problem.
Along with that, there can be technical issues. Dealing with multiple datasets from different providers means you’ve to make sure your data is in a structure that can be easily correlated and merged. The most valuable insights often come from combining several different and altogether separate datasets. A data engineering or cleansing job is usually necessary to get it all into a state where this is possible.
Finally, remember that because you can require numerous data sources, ranging from satellite imagery and meteorological data to anonymized customer data, you could have to create and maintain relationships with several different data suppliers. This brings compliance issues, as you’ll always need to ensure that the information you’re buying has been collected and processed lawfully and ethically. The amount of compliance and regulation around data utilization is now more significant by the day. As a data processor, you could ideally face a potentially expensive penalty if your suppliers aren’t all above-board.
If your organization can put plans and strategies in place to control all of this, then working together with external data gets the potential to be advantageous. It indicates your data and analytics strategy is no longer just about “you” but becomes about building an awareness of the environments and ecosystems around your company where it operates. It can enable you to streamline and drive efficiencies through your existing business models or even transform them to allow you to create entirely new ones.
Using different data types – external data, unstructured data, real-time data – is one among the topics covered in depth in the 2nd edition of my book Data Strategy – Just how to Profit From a World of Big Data, Analytics, And Artificial Intelligence.
TOP 4 Essay Writing Services in the USA: 2023 Edition
As an increasing number of students seek assistance with their academic assignments, the demand for reliable essay writing services continues to grow. With so many options available, it can be challenging to identify the best service providers. To help you make an informed decision, we have compiled a list of the top 4 essay writing services in the USA for 2023. These services have been carefully evaluated based on their reputation, quality of work, customer satisfaction, and affordability. Read on to discover the top essay writing services that can provide you with the support you need to excel in your academic journey.
What Makes a Great Essay Writing Service
Before delving into the top essay writing services reddit, it’s essential to understand the criteria we used to evaluate them. A great essay-writing service should possess the following qualities:
- Quality of Work: The service should deliver well-researched, original, and high-quality essays that meet academic standards.
- Professional Writers: The service should have a team of qualified writers with expertise in various subjects who can handle diverse topics.
- Timely Delivery: The service should be reliable and capable of delivering essays within the given deadline.
- Customer Support: The service should provide excellent customer support, ensuring effective communication throughout the writing process.
- Affordability: The service should offer reasonable pricing plans that are affordable for students while maintaining the quality of work.
Now, let’s explore the top 4 essay writing services in the USA for 2023.
TOP 4 Essay Writing Services in the USA: 2023 Edition
EssayPro is a highly reputable essay writing service known for its commitment to quality and customer satisfaction. They have a diverse team of experienced writers who can handle a wide range of subjects. EssayPro offers a user-friendly platform, allowing students to place orders easily and track the progress of their essays. Their pricing is competitive, and they offer additional features such as plagiarism reports and unlimited revisions.
Grademiners is a popular choice among students due to its excellent track record and reliability. They have a team of highly skilled writers who are proficient in various academic disciplines. Grademiners ensures on-time delivery and provides 24/7 customer support to address any concerns. They also offer free revisions and a money-back guarantee, ensuring customer satisfaction.
Ultius is known for its exceptional writing services and commitment to customer privacy and security. They have a rigorous writer selection process, ensuring that only qualified professionals handle the essays. Ultius offers a wide range of writing services, including essay writing, editing, and proofreading. They also provide a mobile app for convenient communication and order tracking.
EduBirdie is a trusted essay writing service that offers a unique feature called “choose your own writer.” Students can browse through profiles and select a writer who matches their requirements. This personalized approach allows for effective collaboration and ensures that the final essay meets the student’s expectations. EduBirdie also provides 24/7 customer support and guarantees 100% original and plagiarism-free content.
How We Evaluated the Services
To evaluate the essay writing services, we considered several factors, including:
- Reputation and reliability
- Quality of work and adherence to academic standards
- Customer reviews and satisfaction
- Pricing and affordability
- Additional features and guarantees
- Customer support and communication
By carefully analyzing these aspects, we identified the top 4 essay writing services that offer outstanding support to students.
Choosing a reliable essay writing service is crucial for students seeking academic assistance. The top 4 essay writing services mentioned in this article – EssayPro, Grademiners, Ultius, and EduBirdie – have proven their worth in terms of quality, reliability, and customer satisfaction. Whether you need help with an essay, research paper, or any other academic assignment, these services can provide you with the support you need to succeed in your studies.