External data is often viewed as an effective substitute and readily available shortcut over direct internal data for analytic model building. This half-day vendor-neutral session will expose participants to the subtle realities of external data. External data is most effective when strategically used to enrich the overall value and potency of an organization’s internal data.
The instructor will explore a variety of external data types including geolocation, weather, demographic, attitudinal, and social media data. The advantages or disadvantages of each source will be discussed. A live demonstration will show how to build a model initially with internal data and then enrich it with external sources to measure the specific increased lift,effectiveness, and value.
You Will Learn
- The advantages and limitations of external data
- Creative ways to find meaningful external data
- Specific, effective uses for social and external data
- How to measure the incremental enrichment value of external data
- The implications of data enrichment on model deployment
- Analytics Practitioners; Data Scientists; IT Professionals; Technology Planners; Consultants; Business Analysts; Analytics Project Leaders