Our World Statistics Day conversations have been a great reminder of how much statistics can inform our lives. Do you have an example of how statistics has made a difference in your life? Share your story with the Community!
Well, Wall Street cares so much about making fast decisions that it is laying dedicated high-speed lines so that the data for program trades can be processed faster and orders executed more quickly. If Wall Street can do all this in milliseconds, won’t it make a difference to you to get your indicators sooner, in seconds instead of hours, in time for a fast response to make a difference?
Speed was the theme of the day today, where I joined hundreds of others at Predictive Analytics World to talk about how to get things done more quickly -- and what a more perfect place to host this topic of discussion than in the heart of fast-paced midtown Manhattan? John Sall, SAS co-founder and chief architect of JMP delivered a 20-minute keynote address on speed -- specifically how it’s possible to explore your data, even big data, more quickly.
The question people commonly ask themselves: Is there too much data to use interactive graphics? The more things you are able to view, the more discoveries you can make and realize value faster. Rich graphics with more features and more dimensions greatly enable this process, and animation helps too. Fast visualization is key. Here’s what I learned from John’s visual data exploration (in a matter of 18 minutes to be exact).
Reducing analytics processing time from 11 hours to 10 seconds, in other cases 30 hours to 2 hours.
Driving a 15 percent improvement in customer retention rates.
Modeling 195 million customer records in real time.
It made us happy that John joined us today to share these insights. I turned to tell him so, but he was already on his way out the door to catch the high-speed train at Penn Station to his next engagement for the day.