In June and July 2015, with sponsorship by SAP, The Economist Intelligence Unit (EIU) carried out a survey of more than 300 executives who are familiar with their company's data and analytics practices. The goal was to assess trends in the use of market-facing advanced analytics.
To add insights to the survey findings, the EIU conducted interviews with several advanced analytics practitioners. This executive summary describes the top findings of this research.
Big data and analytics have become increasingly important in the corporate world. Venture capital investments in big data are growing exponentially. Research from MIT shows analytics can increase productivity by 5-6%. However, many companies are unsure how to implement analytics effectively. The document outlines three key capabilities for exploring big data: identify the right data sources, build advanced analytics models, and transform the organization to make better decisions based on data and models. Mastering these skills can help companies gain a competitive advantage.
Driving A Data-Centric Culture: The Leadership ChallengePlatfora
Embracing data as a corporate asset—and a source of competitive advantage—is not just a “good idea” that companies should consider. Such adoption will help determine the winners and losers across multiple markets and industries in the future.
In the last couple of years, corporate focus has shifted: first, from investing in the right technology and tools; then to acquiring the right talent and skills; and now to building the right organizational culture that can realize the business value of powerful big-data analytic tools.
Most organizations today are still focused on putting in place the right technology and talent, but others have evolved further and are working toward fostering a data-centric corporate culture.
The document is a report from the Economist Intelligence Unit that discusses the challenges of building a data-centric culture in organizations. It is based on a global survey of 395 executives. Some key points:
- Building the right organizational culture to realize business value from data analytics is now a priority for companies, as they have already invested in technology and talent.
- CEOs face the challenge of transforming company culture and how data is used. They must implement strategies from the top-down and engage employees.
- Successful data-driven companies are inspired by leaders who communicate a strong vision of how data can help the business and drive values like customer service. Leaders also provide expertise and education to help employees apply data.
1. The document discusses shifts in analytics and big data, including that the majority of organizations now realize returns on analytics investments within a year, and that while customer focus remains important, organizations are increasingly using data and analytics to improve operations.
2. It also notes that many organizations are transforming processes by integrating digital capabilities, and that the value driver for big data has shifted from volume to velocity - the ability to quickly move from data to action.
3. Speed is now the key differentiator, as data-driven organizations with capabilities for broad, fast analytics usage and agile technical infrastructure are creating significant business impacts.
Read the study to find out how successful organisations are able to convert high-level Analytical strategies into actions that truly deliver business value.
Workforce Analytics-Big Data in Talent Development_2016 05Rob Abbanat
1) The document discusses how workforce analytics uses big data approaches to improve talent management and recruiting. It outlines a 5-step process for implementing workforce analytics: clarifying the problem, determining metrics, gathering data, analyzing the data, and presenting results visually.
2) Most companies are still only reporting workforce analytics data, while few are able to forecast or simulate results. Examples are given of how some companies have used workforce analytics to optimize retention, promotions, and talent acquisition strategies.
3) The meeting discussed how workforce analytics can help move companies from decisions based on hunches to data-driven models, showing clearer links between talent expenditures and organizational performance.
"Big data in western europe today" Forrester / Xerox 2015yann le gigan
The document summarizes the findings of a survey conducted by Forrester Consulting on behalf of Xerox regarding big data usage in Western Europe. The key findings are:
1) Senior decision-makers see big data as a top priority and have extensive plans to implement big data initiatives across a wide range of use cases in 2015.
2) Companies expect to see returns on their big data investments within 12 months and are using big data to improve efficiency and manage risk.
3) While big data offers opportunities, respondents acknowledge challenges such as ensuring data quality and integrating big data into decision-making.
Big Data Update - MTI Future Tense 2014Hawyee Auyong
The Futures Group first wrote about the emerging phenomenon of Big Data in 2010 as it was about to enter the mainstream. It was envisaged that Big Data would create a demand for new skills (Google has identified statisticians as the “sexy job of the decade”) and generate new industries. This report updates on the industry value chain and business models for the data analytics industry, latest developments as well as the opportunities for Singapore.
The need, applications, challenges, new trends and
a consulting perspective
(Why is Big Data a strategic need for optimization of organizational processes especially in the business domains and what is the consultant’s role?)
With every transaction and activity, organizations churn out data. This process happens even in the case of idle operation. Hence, data needs to be effectively analyzed to manage all processes better. Data can be used to make sense of the current situation and predict outcomes. It also can be used to optimize business processes and operations. This is easier said than done as data is being produced at an unprecedented rate, huge volumes and a high degree of variety. For the outcome of the data analysis to be relevant, all the data sets must be factored in to the analysis and predictions. This is where big data analysis comes in with its sophisticated tools that are also now easy on the pocket if one prefers the open source.
The future of high potential marketing lead generation would be based on big data. Virtually every business vertical can benefit from big data initiatives. Even those without deep pockets can use the cloud model for business analytics/big data analysis.
Some challenges remain to be addressed to engender large scale adoption but the current benefits outweigh the concerns.
India has seen a massive growth in big data adoption and the trend will grow though it is generally amongst the bigger players. As quality of data improves and customer reluctance to being honest when they volunteer data reduces, the forecasts will become more accurate and Big Data will have come to its rightful place as a key enabler.
Traditional approaches to handling disruptive change like big data analytics, such as resisting change or protecting existing business models, are ineffective in today's digital economy. By rapidly processing vast amounts of structured and unstructured data using big data tools, businesses can test new strategies faster through analytical sandboxes to better meet customer demands. Superfast in-memory computing is transforming industries by enabling new data-driven business models in areas like transportation. The ability to analyze unprecedented types and volumes of data in real time using tools like Apache Hadoop and Spark makes it possible to build more accurate predictive models and realize future gains.
Marketing & SalesBig Data, Analytics, and the Future of .docxalfredacavx97
Marketing & Sales
Big Data, Analytics,
and the Future of
Marketing & Sales
March 2015
3McKinseyonMarketingandSales.com @McK_MktgSales
Table of contents
Business
Opportunities
Insight and
action
How to get
organized and
get started
8 Getting big impact from big
data
16 Big Data & advanced
analytics: Success stories
from the front lines
20 Use Big Data to find
new micromarkets
24 Smart analytics: How
marketing drives short-term
and long-term growth
30 Putting Big Data and
advanced analytics to work
34 Know your customers
wherever they are
38 Using marketing analytics to
drive superior growth
48 How leading retailers turn
insights into profits
56 Five steps to squeeze more
ROI from your marketing
60 Using Big Data to make
better pricing decisions
60 Marketing’s age of relevance 72 Gilt Groupe: Using Big Data,
mobile, and social media to
reinvent shopping
76 Under the retail microscope:
Seeing your customers for
the first time
80 Name your price: The power
of Big Data and analytics
84 Getting beyond the buzz: Is
your social media working?
90 How to get the most from big
data
94 Five Roles You Need on Your
Big Data Team
98 Want big data sales programs
to work? Get emotional
102 Get started with Big Data:
Tie strategy to performance
106 What you need to make Big
Data work: The pencil
110 Need for speed: Algorithmic
marketing and customer
data overload
114 Simplify Big Data – or it’ll be
useless for sales
54 McKinseyonMarketingandSales.com @McK_MktgSales
Introduction
Big Data is the biggest hame-changing opportunity for marketing and sales
since the Internet went mainstream almost 20 years ago. The data big bang
has unleashed torrents of terabytes about everything from customer behaviors
to weather patterns to demographic consumer shifts in emerging markets.
The companies who are successful in turning data into above-market growth
will excel at three things:
ƒ Using analytics to identify valuable business opportunities from the data to
drive decisions and improve marketing return on investment (MROI)
ƒ Turning those insights into well-designed products and offers that delight
customers
ƒ Delivering those products and offers effectively to the marketplace.
This goldmine of data represents a pivot-point moment for marketing and
sales leaders. Companies that inject big data and analytics into their operation
show productivity rates and profitability that are 5 percent to 6 percent hight
than those of their peers. That’s an advantage no company can afford to
gnome.
This compendium explores the business opportunities, company examples,
and organizational implications of Big Data and advanced analytics. We hope
it provokes good and useful conversations.
Please contact us with your reactions and thoughts.
David Court
Director
David headed McKinsey’s
functional practices, and
currently leads the firm’s digital
in.
Blueocean IIR webinar - Superior Insights Through Information Integration: De...Course5i
Research departments are being hit with copious amounts of data every day - from primary market research, syndicated data, transactional data, social media, etc. Synthesizing knowledge from the information river has become an necessity; a searchable repository and basic meta analysis is just not good enough.
Using real case studies, Kumar Mehta, CEO at blueocean market intelligence, revealed how to apply a holistic 360 approach to produce better insights and achieve greater business impact.
Machine Learning for Business - Eight Best Practices for Getting StartedBhupesh Chaurasia
This document provides an overview of best practices for organizations getting started with machine learning. It discusses 8 best practices: 1) Learn the predictive thought process, 2) Focus on specific use cases, 3) Look for the right predictive tooling, 4) Get training on machine learning techniques, 5) Remember that good quality data is important, 6) Establish model governance processes, 7) Put machine learning models into action, and 8) Manage, monitor and optimize models continuously. The document provides details and examples for each best practice to help organizations successfully implement machine learning.
This document summarizes key findings from a survey of 200 IT professionals about big data analytics. The main findings are:
- Big data and data center infrastructure updates are the top strategic priorities for IT managers. Big data is the number one priority for 21% of respondents.
- Most organizations already have a formal big data analytics strategy in place or plan to have one within the next six months. The majority will have a strategy within a year.
- Over half of respondents have already deployed or are currently implementing the Apache Hadoop framework. Half of those use an internal private cloud.
- The leading current uses of big data relate to understanding staffing levels and productivity, and generating competitive intelligence. Future uses
This document summarizes key findings from a survey of 200 IT professionals about big data analytics. The main findings are:
- Big data and data center infrastructure updates are the top strategic priorities for most respondents. Big data is the number one priority for 21% of respondents.
- Most respondents have a formal big data analytics strategy in place or plan to have one within the next six months. The majority will have a strategy within a year.
- Three quarters of respondents are currently processing both structured and unstructured data or plan to within six months.
- Adoption of tools like Apache Hadoop continues to rise, with over half of respondents having deployed or implementing a Hadoop distribution, half of which use
This document discusses why organizations need to become analytics-driven to succeed in today's data economy. It explains that analytics-driven organizations are 20% more profitable and 110% more valuable than their peers. The document outlines a framework for how organizations can master the analytics value chain and become truly analytics-driven with nine key dimensions. It concludes by providing guidance on how organizations can start their analytics journey and assess their current analytics maturity.
Similar to FINDINGS FROM THE 2017 DATA & ANALYTICS GLOBAL EXECUTIVE ST (20)
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You are assisting Dr. Jones with a procedure that has been classified as sterile. However, you later learn the patient acquired an iatrogenic infection. Who is ultimately responsible for this event? How would you determine responsibility? What information would be required to make this determination? Please support your answer with at least one reference.
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You are a Wichita Police Department detective working in the major crimes unit, and you are assigned to a joint federal–state–city crime task force working on a number of major drug cases. Over a period of several months, your task force has been able to gather information and make cases on several of the drug suppliers, drug dealers, and drug buyers in the Wichita metropolitan area. The task force is about to complete its mission by filing criminal charges in the federal district court, the state district court, or the Wichita Municipal Court against these various suspects. These suspects will not be arrested until the warrants are issued.
Your job is to make recommendations concerning which jurisdictions should file the charges on which defendants. You will need to evaluate the criminal statutes and penalties in each jurisdiction and even the rules of evidence to determine where your task force has the best chance of obtaining a conviction and in getting the punishment to fit the crime.
The memo that you receive from your Drug Enforcement Administration (DEA) task force supervisor explains the situation:
MEMO
Re: Charging Decisions
You are the primary investigator in the cases against Jones, Smith, and Thompson. As I review your reports, it appears that each of these cases has strengths and weaknesses that we should evaluate before we determine whether to file charges in the U.S. District Court, the Sedgwick County District Court for the State of Kansas, or the Wichita Municipal Court. I will summarize those strengths and weaknesses here to make sure I am reading your reports correctly. I need you to give me advice on where you think these charges should be brought.
Jones has been working for you as a confidential informant because you have evidence against him for a February 6, 2005 third possession of cocaine after convictions in 1993 and 1994. He appears to have followed the terms of his deal with you to introduce our undercover agents to his dealer. We have promised not to prosecute for any drug offenses he may commit in the presence of our undercover agent while playing the role of our informant. His assistance has enabled us to get sufficient evidence on Smith and Thompson to obtain convictions. Based on Jones’ two prior convictions for possession of cocaine, we would normally want him to go to federal court, where the maximum sentences are available. However, because of his cooperation, we could file the case in the Sedgwick County, Kansas, and district court under state law. We could even change the charge to a drug paraphernalia offense and send his case to the city of Wichita.
How do you think we should proceed concerning Jones' February 6, 2005 cocaine possession? (30%)
He will probably plead guilty unless we send him to federal court. Where do you want to file the case? (20%)
Smith has sold cocaine to our undercover agents on two occasions: July 12, 2005 and August 3, 2005. We have found no prior record on this individual, bu.
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.
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Assignment Guidelines
Address the following in 900–1,200 words:
What constitutional issues are involved in the scenario that dictates what you can and cannot do related to the evidence of other criminal activity outside the scope of the original wiretap order? Explain.
If you arrest the other individuals for the crimes not associated with the reasons for the wiretap, what happens to any future evidence that might be obtained from the wiretap? Why?
If you fail to arrest the other individuals, are there any potential risks involved? Explain you answer.
Be sure to reference all sources using APA style.
.
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.
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.
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You are a community health educator and you have been tasked with developing a presentation to be given in a setting to educate an audience on one specific kind of diabetes.
Identify
your audience. Examples include the following:
Senior center
Middle school
A Workplace
Create
a 350- to 700-word resource as a way to share this information. Examples include the following:
A social media page
An information pamphlet
A presentation
Consider
the best method so it is crafted in an appropriate and understandable way for your identified audience.
Choose
from the two following options, which kind of diabetes you'll be reporting on:
Option A: Type I
How society views diabetes (what society thinks it is versus what it actually is, common beliefs and practices)
Signs and symptoms
Compliance with treatment regimens
Impact on health care resources
Option B: Type II
How society views diabetes (what society thinks it is versus what it actually is)
Preventive measures
Making the right decisions to live a healthy life
Compliance with common beliefs
Impact on health care resources
.
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I NEED YOU TO COMMENT FROM THIS POST, NO MORE THAN 150 WORDS NEEDED AND A REFERNCE PLEASE
.
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xxxxx comment 1
xxxxx, I believe America only sees left/right, liberal/conservative, one's race/others' race, one's religion/others' religion, etc. To be fair, there are important issues that we do face but the media has pulled both further from the center. This is done to keep us preoccupied in conflict so we ignore what is being done in front of our faces, which is politicians/media/wealthy elites are controlling the government/financial system/media to mold the public's views and what they buy. By them focusing on these secondary issues and differences, we are missing the root problem: money in politics. These legal bribes guarantee that we are not represented in legislation unless enough people oppose the current law.
Comment 2
Nicely said, it is amazing how money can be used to basically buy anything in the world, even our politicians. The Presidency, our Senators and Congressman, Governors, Mayor's and more. This allows for things like the rich getting richer and the poor or course getting poorer. It almost seems like there is no middle class anymore. Money plays a huge role in everyday life. Don't get me wrong, money and politicians has definitely been used in some cases for the good or doing the right thing. We cannot base everything evil or not perfect on money. We just have to be more responsible.
.
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WWTC Active Directory Design
WWTC office at New York is largely autonomous and few IT personnel to take care of day-to-day IT support activities such as password resets troubleshoot virus problems. You are concerned about sensitive data store in this location. You want to deploy a highly developed OU structure to implement security policies uniformly through GPO automatically at all domains, OU, and workstations.
At this location Windows Server 2012 R2 is required providing the following
10 AD features
:
1.
Use BitLocker encryption technology for devices (server and Work station) disc space and volume.
2.
Enables a BitLocker system on a wire
d network to automatically unlock the system volume during boot (on capable Windows Server 2012 R2 networks), reducing internal help desk call volumes for lost PINs.
3.
Create group policies settings to enforce that either Used Disk Space Only or Full Encryption is used when BitLocker is enabled on a drive.
4.
Enable BranchCache in Windows Server 2012 for substantial performance, manageability, scalability, and availability improvements
5.
Implement Cache Encryption to store encrypted data by default.
This allows you to ensure data security without using drive encryption technologies.
6.
Implement Failover cluster services
7.
Implement File classification infrastructure feature to provide automatic classification process.
8.
IP Address Management (IPAM) is an entirely new feature in Windows Server 2012 that provides highly customizable administrative and monitoring capabilities for the IP address infrastructure on a corporate network.
9.
Smart cards and their associated personal identification numbers (PINs) are an increasingly popular, reliable, and cost-effective form of two-factor authentication. With the right controls in place, a user must have the smart card and know the PIN to gain access to network resources.
10.
Implement Windows Deployment Services to enables you to remotely deploy Windows operating systems. You can use it to set up new computers by using a network-based installation.
Other AD Deliverables
:
Create Active directory infrastructure to include recommended features
Create OU level for users and devices in their respective OU
Create Global, Universal, Local group. Each global group will contain all users in the corresponding department. Membership in the universal group is restrictive and membership can be assigned on the basis of least privileged principle. (For design purpose, you can assume that WTC as a Single Forest with multiple domains).
Create appropriate GPO and GPO policies and determine where they will be applied
.
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Wrongful Convictions and the Utilization of Eyewitness Accounts
Write a 2 to 3 page paper responding to the following: APA FORMAT
Identify the ethical issues within the field of criminal investigation as applied to wrongful conviction based upon tainted or faulty line-ups.
In recent years we have seen many criminal convictions overturned for various reasons. One such reason is the “Eyewitness Account.”
Address the ethical responsibilities of law enforcement in their requirements for fairness, and responsibility to ensure there are no wrongful convictions based upon false identification.
Identify the processes utilized by law enforcement in the identification of suspects.
Consider individuals making identifications, do so in error at times, others intentionally, or are led by law enforcement through improper actions i.e., prejudicial line-ups or photo arrays.
.
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Written Report on Documentary:
Enron: The Smartest Guys in the Room
For this assignment view the video,
ENRON:
The Smartest Guys in the Room,
[1 hr. & 50 min].
Write a critique of the film in 4-5 page double-spaced paper.
Answer each of the following questions in your essay.
The written assessment of
Enron
is due according to Syllabus.
Submit a paper copy in class and also post it on BB website SafeAssign.
2.
Describe the dominant culture of ENRON and the subculture of Enron’s trading group.
3.
Do you believe that Enron’ failure is a result of the behavior of “a few bad men”, or a demonstration of the “dark shadow of the American dream”?
Explain.
4.
What did Skilling say is the only thing that motivates people?
Do you agree or disagree?
5.
Describe the PRC (performance review committee).
Why was it referred to as “rank and yank”?
What was its effect?
What is your opinion of the ethics of the practice?
6.
Describe Enron’s initiative on broadband technology.
7.
What was Arthur Andersen’s conflict of interest in regards to Enron?
What could have been done to prevent this conflict of interest?
8.
How did Skilling treat Fortune author Bethany McLean when she started asking questions about Enron’s financials?
Do you think this was a tactic, and if so, what did he hope to achieve by it?
9.
What are three important “takeaway” messages you learned from this documentary?
.
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.
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Is Email Marketing Really Effective In 2024?Rakesh Jalan
Slide 1
Is Email Marketing Really Effective in 2024?
Yes, Email Marketing is still a great method for direct marketing.
Slide 2
In this article we will cover:
- What is Email Marketing?
- Pros and cons of Email Marketing.
- Tools available for Email Marketing.
- Ways to make Email Marketing effective.
Slide 3
What Is Email Marketing?
Using email to contact customers is called Email Marketing. It's a quiet and effective communication method. Mastering it can significantly boost business. In digital marketing, two long-term assets are your website and your email list. Social media apps may change, but your website and email list remain constant.
Slide 4
Types of Email Marketing:
1. Welcome Emails
2. Information Emails
3. Transactional Emails
4. Newsletter Emails
5. Lead Nurturing Emails
6. Sponsorship Emails
7. Sales Letter Emails
8. Re-Engagement Emails
9. Brand Story Emails
10. Review Request Emails
Slide 5
Advantages Of Email Marketing
1. Cost-Effective: Cheaper than other methods.
2. Easy: Simple to learn and use.
3. Targeted Audience: Reach your exact audience.
4. Detailed Messages: Convey clear, detailed messages.
5. Non-Disturbing: Less intrusive than social media.
6. Non-Irritating: Customers are less likely to get annoyed.
7. Long Format: Use detailed text, photos, and videos.
8. Easy to Unsubscribe: Customers can easily opt out.
9. Easy Tracking: Track delivery, open rates, and clicks.
10. Professional: Seen as more professional; customers read carefully.
Slide 6
Disadvantages Of Email Marketing:
1. Irrelevant Emails: Costs can rise with irrelevant emails.
2. Poor Content: Boring emails can lead to disengagement.
3. Easy Unsubscribe: Customers can easily leave your list.
Slide 7
Email Marketing Tools
Choosing a good tool involves considering:
1. Deliverability: Email delivery rate.
2. Inbox Placement: Reaching inbox, not spam or promotions.
3. Ease of Use: Simplicity of use.
4. Cost: Affordability.
5. List Maintenance: Keeping the list clean.
6. Features: Regular features like Broadcast and Sequence.
7. Automation: Better with automation.
Slide 8
Top 5 Email Marketing Tools:
1. ConvertKit
2. Get Response
3. Mailchimp
4. Active Campaign
5. Aweber
Slide 9
Email Marketing Strategy
To get good results, consider:
1. Build your own list.
2. Never buy leads.
3. Respect your customers.
4. Always provide value.
5. Don’t email just to sell.
6. Write heartfelt emails.
7. Stick to a schedule.
8. Use photos and videos.
9. Segment your list.
10. Personalize emails.
11. Ensure mobile-friendliness.
12. Optimize timing.
13. Keep designs clean.
14. Remove cold leads.
Slide 10
Uses of Email Marketing:
1. Affiliate Marketing
2. Blogging
3. Customer Relationship Management (CRM)
4. Newsletter Circulation
5. Transaction Notifications
6. Information Dissemination
7. Gathering Feedback
8. Selling Courses
9. Selling Products/Services
Read Full Article:
https://digitalsamaaj.com/is-email-marketing-effective-in-2024/
Understanding and Interpreting Teachers’ TPACK for Teaching Multimodalities i...Neny Isharyanti
Presented as a plenary session in iTELL 2024 in Salatiga on 4 July 2024.
The plenary focuses on understanding and intepreting relevant TPACK competence for teachers to be adept in teaching multimodality in the digital age. It juxtaposes the results of research on multimodality with its contextual implementation in the teaching of English subject in the Indonesian Emancipated Curriculum.
Views in Odoo - Advanced Views - Pivot View in Odoo 17Celine George
In Odoo, the pivot view is a graphical representation of data that allows users to analyze and summarize large datasets quickly. It's a powerful tool for generating insights from your business data.
The pivot view in Odoo is a valuable tool for analyzing and summarizing large datasets, helping you gain insights into your business operations.
AI Risk Management: ISO/IEC 42001, the EU AI Act, and ISO/IEC 23894PECB
As artificial intelligence continues to evolve, understanding the complexities and regulations regarding AI risk management is more crucial than ever.
Amongst others, the webinar covers:
• ISO/IEC 42001 standard, which provides guidelines for establishing, implementing, maintaining, and continually improving AI management systems within organizations
• insights into the European Union's landmark legislative proposal aimed at regulating AI
• framework and methodologies prescribed by ISO/IEC 23894 for identifying, assessing, and mitigating risks associated with AI systems
Presenters:
Miriama Podskubova - Attorney at Law
Miriama is a seasoned lawyer with over a decade of experience. She specializes in commercial law, focusing on transactions, venture capital investments, IT, digital law, and cybersecurity, areas she was drawn to through her legal practice. Alongside preparing contract and project documentation, she ensures the correct interpretation and application of European legal regulations in these fields. Beyond client projects, she frequently speaks at conferences on cybersecurity, online privacy protection, and the increasingly pertinent topic of AI regulation. As a registered advocate of Slovak bar, certified data privacy professional in the European Union (CIPP/e) and a member of the international association ELA, she helps both tech-focused startups and entrepreneurs, as well as international chains, to properly set up their business operations.
Callum Wright - Founder and Lead Consultant Founder and Lead Consultant
Callum Wright is a seasoned cybersecurity, privacy and AI governance expert. With over a decade of experience, he has dedicated his career to protecting digital assets, ensuring data privacy, and establishing ethical AI governance frameworks. His diverse background includes significant roles in security architecture, AI governance, risk consulting, and privacy management across various industries, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: June 26, 2024
Tags: ISO/IEC 42001, Artificial Intelligence, EU AI Act, ISO/IEC 23894
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
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How to Add Colour Kanban Records in Odoo 17 NotebookCeline George
In Odoo 17, you can enhance the visual appearance of your Kanban view by adding color-coded records using the Notebook feature. This allows you to categorize and distinguish between different types of records based on specific criteria. By adding colors, you can quickly identify and prioritize tasks or items, improving organization and efficiency within your workflow.
2. Review:
Read the report online at
http://sloanreview.mit.edu/analytics2017
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http://sloanreview.mit.edu/enews-analytics
Contact us to get permission to distribute or copy this report at
[email protected] or 877-727-7170
AUTHORS
CONTRIBUTORS
SAM RANSBOTHAM is an associate professor in
the Information Systems Department at the Carroll
School of Management at Boston College, as well as
guest editor for MIT Sloan Management Review’s
Data & Analytics Big Ideas initiative.
DAVID KIRON is the executive editor of MIT Sloan
Management Review.
Nina Kruschwitz, senior project manager, MIT Sloan
Management Review
The authors conducted the research and analysis for this report
as part of an MIT Sloan Management
Review research initiative sponsored by SAS.
To cite this report, please use:
S. Ransbotham, D. Kiron, “Analytics as a Source of Business
Innovation,” MIT Sloan Management Review,
3. February 2017.
ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 1
CONTENTS
RESEARCH
REPORT
SPRING 2017
5 / Resurgence in
Competitive Advantage
from Analytics
• Channeling the data deluge
• Concentrating analytics on
specific business issues
• A tide of innovation
6 / Analytical Innovators at
a High-Water Mark
8 / Navigating Data-Driven
Innovation
• Beyond incremental
improvement
• Functional areas that excel
with data
10 / Sharing Data
4. Accelerates Innovation
• Creating passages between
organizations
• Data governance liberates
opportunity
• Smart machines create
more time for innovative
thinking
14 / Conclusion
16 / Acknowledgments
ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 3
Analytics as a
Source of
Business
Innovation
N
ot long ago, Keith Moody was the only data analyst at
Bridgestone Americas
Inc. He was located in the credit division in Brook Park, Ohio,
and saw
analytics take off — in other companies. When Bridgestone
Americas named
a data-savvy executive, Gordon Knapp, as chief operating
5. officer in March
2014, Moody was given the opportunity to build a new analytics
department
for Bridgestone Retail Operations, the company’s U.S. network
of tire and
auto repair stores. Today, Moody reports to the interim
president, Damien Harmon, as director of
analytics for Bridgestone Retail Operations, where he is making
up for lost time.
Moody’s team is influencing management practice in virtually
every part of the organization. Work-
ing with the real estate department, the analytics team pinpoints
the best locations for new stores.
Working with operations, it automates provision of inventory to
2,200 stores.1 Working with human
resources, it determines the best allocation of 22,000 employees
so that Bridgestone retail locations
have the right people on-site to deal with peak demand — and
don’t have workers sitting around
with time on their hands. What’s more, Moody’s team is looking
for ways to use driver data, such as
odometer readings and other telematics data, to encourage car
owners to come in for new tires or a
tune-up before they hear a rattle under the hood and have to
look for the nearest repair shop. This
new reliance on analytics to inform executive decision making
and to develop new services reflects a
cultural shift for Bridgestone’s operations in the United States.
What’s happening at Bridgestone provides a window into the
state of analytics across industry. After
years of enthusiasm and frequent disappointment, a growing
number of companies are developing
the tools and, increasingly, the skills to move beyond
6. frustration. They are progressively able to ac-
4 MIT SLOAN MANAGEMENT REVIEW • SAS INSTITUTE
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U R C E O F B U S I N E S S I N N O V A T I O N
cess large pools of data and use analytics to inform
decision making, improve day-to-day operations,
and support the kinds of innovation that lead to stra-
tegic advantage and growth.
MIT Sloan Management Review’s seventh annual
data and analytics survey, conducted during 2016,
reveals a sharp rise in the number of companies re-
porting that their use of analytics helps them beat
the competition. These survey results include re-
sponses from 2,602 managers, executives, and data
professionals from companies around the globe.
(See “About the Research.”) The findings reverse
a three-year trend in our survey data (2013-2015),
in which fewer companies year over year reported
a competitive advantage from their use of analytics.
So, why the reversal? What changed? Our findings
offer clear signals that companies are increasing
their use of data and analytical insights for strate-
gic purposes and are using data and analytics to
innovate business functions as well as entire busi-
ness models. Indeed, analysis of our survey results
and interviews with more than a dozen executives
and scholars indicates that the ability to innovate
7. with analytics is driving the resurgence of strategic
benefits from analytics across industries. In this re-
port, we delve into the enablers of innovation with
analytics and find that data governance capabilities,
especially around data sharing and data security,
form the foundation for these innovation processes.
The four key findings from our research are:
• More companies report competitive ad-
vantage from their use of data and analytics,
re versing a three-year trend. According
to several indicators in our 2013, 2014, and
2015 surveys, fewer companies were deriving
competitive advantage and other important
benefits from their investments in analytics
than in previous years. According to this lat-
est survey, however, that trend seems to have
reversed, and more companies are now seeing
gains. This is due to several factors, including
wider dispersion of analytics within companies
and better knowledge of what analytics can do,
as well as a stronger focus on specialized, inno-
vative applications that have strategic benefits.
• Innovation from analytics is surging. The share
of companies reporting that they use data and
analytics to innovate rose significantly from last
year’s survey. Organizations with strong analyt-
ics capabilities use those abilities to innovate not
only existing operations but also new processes,
products, services, and entire business models.
• Data governance fosters innovation. Com-
panies that share data internally get more
value from their analytics. And the companies
8. that are the most innovative with analytics are
more likely to share data beyond their company
boundaries. Survey results show that strong
data governance practices enable data sharing,
which then enables innovation. To be most ef-
fective, data governance needs to be embedded
in an organization’s culture. Tactics are not the
This is the seventh MIT Sloan Management Review research
study of business executives, managers, and analytics
professionals. This year’s 2,602 survey respondents were drawn
from a number of sources, including MIT Sloan Management
Review subscribers. They represent organizations around the
world and from a wide range of industries.
The research also includes interviews from experts from a
number of industries and disciplines. Their insights into the
evolving uses of analytics have enriched our understanding of
the survey data. In addition, we incorporate case examples that
document how analytics are being used.
In this report, we use the term “analytics” to refer to the use of
data and related business insights developed through applied
analytical methods — using statistical, contextual, and
predictive models, for example — to drive fact-based planning,
decisions, execution, management, and learning.
ABOUT THE RESEARCH
ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 5
same as cultural norms. Data governance needs
to be more than a system of tactics to derive
9. business value — it must actually influence or-
ganizational behavior.
• Smart machines create opportunity for in-
novative thinking. Smart machines that draw
inferences from data on their own and learn by
using algorithms to discern patterns in masses of
data are no longer confined to research labs and
limited applications such as speech recognition.
The most analytically mature companies use ar-
tificial intelligence to augment human skills and
to take on time-consuming tasks, freeing man-
agers to spend more time on strategic issues.
From 2013 to 2015, our annual surveys showed a
steady ebb in the percent of companies reporting a
competitive advantage from their use of data and an-
alytics. As analytics became more widespread, and
therefore a more common path to value, it became
more difficult for companies to gain or maintain a
competitive edge with data. “Those big early adopt-
ers got an early benefit,” notes Kristina McElheran,
assistant professor of strategy at the University of To-
ronto. She points out that in many cases, even early
adopters hit a slow patch after their initial successes
with analytics because they weren’t embedding ana-
lytics into the organization. “Until it becomes an
engine for learning, until it transforms your cost
structure or value to customers in a way that’s dif-
ficult for your competitors to imitate, then I don’t see
analytics as a silver bullet that lets firms get in front
of the pack and stay there,” she explains.
In 2016, managers in more companies said they are
getting ahead of the pack. This is a marked reversal
of the trend of the previous three years. The share
10. of respondents who say that analytics provides com-
petitive advantage rebounded to 57%, still off the
2012 peak of 67%, but well above the 51% of 2015.
(See Figure 1.)
Several factors contribute to the resurgence in com-
panies gaining a competitive advantage from data
and analytics: success applying data-driven insights
to strategic issues; application of analytics to a wide
range of business issues; technology advances, such
as cloud computing and distributed storage; and
data-driven innovations that make a material con-
tribution to the company’s competitiveness.
Channeling the data deluge
Our survey first tracked managers’ access to useful
data in 2012. In each of the five surveys since then,
Resurgence in Competitive
Advantage from Analytics
20112010 2012 2013 201620152014
Percent believing
that business
analytics creates
a competitive
advantage for
their organization
40%
50%
60%
11. 70%
30%
20%
10%
0%
FIGURE 1: COMPETITIVE ADVANTAGE FROM
ANALYTICS RESURGES From 2015 to 2016, the share of
organizations reporting that analytics creates a competitive
advantage rose 6 percentage points.
Percent of respon-
dents reporting
a somewhat
or significant
increase in access
to useful data over
the past year
Percent of
respondents who
are somewhat or
very effective at
using insights to
guide future
strategy
esssssssssss
ve
12. 2012 2013 201620152014
70%
56%
75%
55%
77%
52%
73%
49%
76%
55%
aaa
v
u
FIGURE 2: MORE ORGANIZATIONS TURN DATA
INTO STRATEGIC INSIGHTS From 2015 to 2016, the share
of organizations that report that they effectively use data for
strategic insights rose 6 percentage points.
6 MIT SLOAN MANAGEMENT REVIEW • SAS INSTITUTE
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R E S E A R C H R E P O R T A N A L Y T I C S A S A S O
13. U R C E O F B U S I N E S S I N N O V A T I O N
seven out of 10 managers reported a “somewhat” or
“significant” increase in their access to useful data
from the year before. Not surprisingly, over this
same period, the share of respondents who said
that they were “somewhat or very effective” in using
insights from analytics to guide strategy steadily
dropped, evidence that the flood of data hampered
rather than enhanced managers’ ability to translate
data to business value.
Our 2016 survey demonstrates a sharp reversal in
this trend. While access to useful data continues to
increase, 55% of companies said they were effective
at using data to guide future strategy, up from 49%
last year. (See Figure 2, page 5.)
Concentrating analytics on specific
business issues
This improved ability to apply insights to strat-
egy may reflect organizational changes in the way
managers use data to improve decision making
and enhance processes across the enterprise. As
McElheran points out, identifying useful data and
performing analyses is only part of the process. To
implement data-driven approaches that generate
measurable results, companies also need to make ad-
justments throughout the organization — in process
design, in supply chain operations, in compensation
and training, and in mindsets and behaviors across
the board. Those adjustments, McElheran says, take
time, which may help explain why fewer companies
reported competitive advantage and strategic in-
sight from 2012 to 2015.
14. Another reason for the improved ability to apply
insights to strategy is management’s application
of analytics to address specialized business is-
sues, such as understanding individual customer
behavior, that yield high-value results. More orga-
nizations are translating knowledge of their own
customers into specialized models that lead to
unique insights, rather than depending on exter-
nal data providers for more generic insights into
their customers’ behavior. Wayfair Inc., a Boston-
based online home goods retailer, is an example
of how analytics use is evolving from the general-
purpose to more specific, customized applications.
For years, the company used an outside vendor to
analyze data and optimize display-advertising pur-
chases. David Drollette, senior director of analytics
at Wayfair, brought the function in-house because
he believed that Wayfair would do better with ana-
lytics that were customized for its operation. “We
took a small team of data scientists, paired them
with business analysts, and created a display-adver-
tising functionality that beat our vendor, which is
a multi-hundred-person company, where that’s the
only thing they focus on,” he says. “So we were able
to take those costs off our books, take that ability
in-house, and really optimize a pretty important
channel for us.” General Mills Inc. and Entravi-
sion Communications Corp., the California-based
Spanish-language media company, are two other
companies wresting control from data vendors over
how they understand customers.2
More generally, as managers in various departments
and functions become more adept at analytics them-
15. selves, they are developing specialized approaches,
uniquely optimized to their situation, that answer
specific questions and solve problems. “We are
clearly seeing a specialization story playing out with
some of our repeat clients who are slowly but surely
realizing the vast potential of business analytics,”
says Ravi Bapna, who runs the Carlson Analytics
Lab at the University of Minnesota’s Carlson School
of Management. “A client that started three years
ago with an exploratory, unsupervised machine-
learning project to optimize aspects of a nationwide
product mix has now evolved into using individual-
level predictive modeling to tackle idiosyncratic
employee churn.” McElheran further observes that
“specialization is going to come rapidly on the heels
of a broad-based diffusion.”
A tide of innovation
Specialization, in turn, can direct analytics toward
innovations that deliver or contribute to com-
petitive advantage. In 2016, 68% of respondents
“somewhat agreed” or “strongly agreed” that analyt-
ics has helped their organizations innovate, up from
52% in 2015.
ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 7
This finding suggests that the poster children for
data-driven innovation, such as General Electric,
Google, IBM, Airbnb, and Uber, are not lone stars.
16. Bridgestone and Nedbank Group Ltd., discussed
below, are two examples of traditional companies
now using data and analytics to improve their exist-
ing operations and create new business.
At Bridgestone, analytics allows the company to
innovate new processes in key areas, such as site se-
lection and staffing. A new staffing program, using
predictive analytics, determines the appropriate
allocation of 22,000 workers across 2,200 stores —
putting enough workers in stores for peak demand
while avoiding unneeded labor costs when business
is slower. “The headcount model we built is based
on standard industry practice, but it’s groundbreak-
ing here at Bridgestone,” says Moody. The payoff will
be millions of dollars per year in efficiency gains
and increased sales, he says. The key advantage for
Bridgestone is applying those industry standard
practices in ways that capitalize on Bridgestone’s
unique capabilities.
At Nedbank, the fourth-largest bank in South Af-
rica, analytics targets bank marketing efforts more
precisely. The bank tracked customer profitability
by product for many years, but when it combined
several sets of product and customer data, branch
managers could then identify the most profitable
customers and offer special discounts and other in-
centives to increase patronage. At Nedbank, analytics
goes beyond just improving existing processes; the
bank also developed an entirely new service line for
commercial customers based on its growing exper-
tise in analytics. Market Edge is a web-based service
that lets Nedbank’s merchant customers identify
their own best customers, based on the bank’s analy-
sis of transactional credit- and debit-card data.
17. For the past five years, we have assessed an organi -
zation’s analytical maturity in terms of its ability to
innovate with data and to gain a competitive advan-
tage from analytics. With the surge in organizations
reporting data use along both of these dimensions,
analytics maturity within the corporate landscape
has shifted. Figure 3, on page 7, illustrates this shift.
2012 2013 201620152014
Percent of
respondents
classifed in
each level
of analytical
maturity Analytically
Challenged
Analytical
Practitioners
Analytical
Innovators11% 12% 12% 17%
60% 54% 54%
49%
29%
34% 34% 33%
10%
41%
18. 49%
FIGURE 3: THE NUMBER OF ANALYTICAL
INNOVATORS JUMPED FOR THE FIRST TIME The share of
organizations that qualify as Analytical Innovators rose from
10% to 17%.
Analytical Innovators at a
High-Water Mark
THREE LEVELS OF ANALYTICS MATURITY
In our research, we categorize companies based on their level of
so-
phistication in analytics and their success in using data to
innovate
and to build competitive advantage.
Analytical Innovators
These companies have an analytics culture, make data driven
deci-
sions, and rely on analytics for strategic insights and innovative
ideas.
Analytical Practitioners
Analytical Practitioners have adequate access to data and are
work-
ing to become more data driven. They use analytics primarily to
effect operational improvements.
Analytically Challenged
The least advanced companies still rely more on management
intu-
ition than data for decision making. They struggle with data
access
and quality and lack data management skills.
19. 8 MIT SLOAN MANAGEMENT REVIEW • SAS INSTITUTE
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R E S E A R C H R E P O R T A N A L Y T I C S A S A S O
U R C E O F B U S I N E S S I N N O V A T I O N
Figure 3 depicts the sharp rise in the number of Ana-
lytical Innovators — those organizations that use data
and analytics to innovate and obtain a competitive ad-
vantage to a moderate or great extent. This is the first
time that the share of respondents in this category has
exceeded 10%-12% of survey respondents. (The side-
bar, “Three Levels of Analytics Maturity,” describes
the characteristics of companies in each category.)
The level of Analytically Challenged companies, the
least-advanced category, fell to 33% in 2016, down
from its 2015 high of 49%. Meanwhile, the share of
Analytical Practitioners — companies that are work-
ing to become data driven and are adopting some
complex approaches to analytics — rose to 49% in
2016 after having dropped to a five-year low of 41%
in 2015.
Analytical Innovators use data and analytics both
to innovate incrementally in existing products, ser-
vices, and processes and to create all-new products,
services, and business models. (See Figure 4.) Ana-
lytical Innovators are more than 60% more likely
than Analytical Practitioners to use analytics for in-
novations that lead to new products, services, and
processes or improve existing ones.
20. While conceptually distinct, the edge between incre-
mental innovation and the kind of innovation that
enables a new business model may not be clear in
practice. At the University of Pennsylvania’s Whar-
ton School, professor Peter Fader and the team at
his predictive analytics startup, Zodiac, developed a
system to crunch various types of data to determine
which customers are most valuable — that is, most
likely to use a company’s products and services again
and most likely to buy a new product. Based on this
analysis, the system predicts a total lifetime value for
each individual customer. Marketers can then pri-
oritize them accordingly.
That may seem like an incremental improvement
on customer segmentation, but that’s not how Alvin
Glay, head of digital marketing for Wahoo Fitness,
sees it. Wahoo Fitness, based in Atlanta, Georgia,
makes sports and fitness products, including work-
out apps and smartphone-connected fitness devices,
such as heart rate monitors, indoor smart-bike
trainers, and GPS bike computers. When he learned
about Fader’s approach, he saw a new business op-
portunity. “We sent them detailed, non-personally
identifiable information [non-PII] transactional
data. We also sent them geography information and
the category that customers purchase in,” says Glay.
“They came back and said, on a customer-by-cus-
tomer basis, these are the customers that essentially
have a high value. We said, let’s take the top 20% of
cyclists in terms of customer lifetime value and run
digital campaigns for our new bike computer prod-
uct targeting those customers, instead of everyone
who purchased a bike computer in our database.
21. The results we saw with this approach were amazing,
and we are looking forward to exploring this further.”
Beyond incremental improvement
Well over 80% of Analytical Innovators and half of
Analytical Practitioners use analytics to innovate
new products, services, and processes. What kinds
of innovations are they pursuing? At Bridgestone,
Moody describes an idea that would radically alter
Navigating Data-Driven
Innovation
FIGURE 4: ANALYTICS FOSTERS MANY WAYS TO
INNOVATE Innovation with data is becoming common practice
in a
wide variety of ways.
Analytical Innovators
Analytical Practitioners
Analytically ChallengedPercent of
respondents
reporting that
analytics has
helped the
following types
of innovation to
a moderate or
great extent
New
product/service
New
23. his company’s business model. If the company
could gain access to telematics information about
how many miles a car has been driven — a big “if ”
at this point — it could create a new way of sell-
ing. Instead of waiting for a car owner to drive in
for replacement tires, for example, the company
could tell the customer when the car is due for new
tires and craft a custom offer to encourage driv-
ers to come into the nearest Firestone Complete
Auto Care store. This approach, which depends
on data navigating its way between automobiles
and Bridgestone, could be used to offer preven-
tive maintenance, encouraging drivers to bring
their vehicles in for service before they hear an
ominous knocking under the hood or the brakes
start to fade. “This predictive analytics approach
changes entirely the way that we look at our role in
the business,” says Moody. “We’re trying to get in
front of the event rather than behind it.”
Like Bridgestone, some companies that are re-
vamping their business models with data-driven
innovations are discovering new levels of customer
engagement with analytics and new opportunities
to engage with organizations in their business value
chain. In the Bridgestone example, for instance, the
tire manufacturer could offer a new service to cus-
tomers but only if it first works with automakers or
software providers to make the requisite data shar-
ing possible. Furthermore, what Bridgestone then
learns about automobile performance and customer
behavior might have value on its own that then could
be the source of unknown new revenue opportuni-
ties. Indeed, a growing number of organizations
have begun monetizing analytical capabilities that
24. they have produced in the course of developing
data-driven innovations, including companies as
diverse as Entravision, GE, and the pharmaceutical
distributor McKesson Corp.3
Functional areas that excel with data
Within companies, innovation with data varies
across departments and functions; for example, de-
partments may emphasize incremental innovation
or more radical innovation. In Figure 5, a score of 50
indicates an even mix; the higher the score, the more
FIGURE 6: FEW DEPARTMENTS USE ANALYTICS
HEAVILY FOR ALL TYPES OF INNOVATION
Beyond relative differences in emphasis, departments also vary
in
their absolute amounts of innovation through analytics.
Percent of respondents reporting that analytics
has helped the following types of innovation to a
moderate or great extent.
Improving processes
Improving products/services
Developing processes
Developing products/services
Customer service
Finance
General management
Human resources
25. Information technology
Marketing
Operations
Product development
Research and development
Risk management
Sales
Supply chain
40% 50%30% 60%
What percentage of your functional
area's use of data and analytics is
being spent improving processes,
products, and services vs.
developing new ones?
Developing
new
processes
Improving
existing
processes
Customer service
Finance
26. General management
Human resources
Information technology
Marketing
Operations
Product development
Research and development
Risk management
Sales
Supply chain
50%20% 80%
39%
39%
43%
44%
40%
45%
38%
27. 47%
48%
40%
46%
44%
FIGURE 5: INNOVATION EMPHASIS VARIES BY
DEPARTMENT Departments mix their use of analytics between
incremental and radical innovation.
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radical innovation in products, services, and pro-
cesses is taking place in the department on average.
Figure 5, on page 9, shows a detailed breakdown of
innovation activity by department. It shows that the
departments that use data to innovate new prod-
ucts are sales (58%) and human resources (56%)
— ahead of product development (52%) and R&D
(49%). Surprisingly, human resources also leads in
innovation of new processes, followed by supply
chain and finance. One possible explanation for this
finding is that it may be easier for some departments
28. to innovate new processes when use of analytics is
still relatively new; the differences we observe be-
tween organizations in analytics adoption is also
true within organizations.
Figure 6, on page 9, also shows that only a few depart-
ments use analytics for innovation across the board;
most focus on either new products, services, and
processes or improving existing processes — but not
on both. An exception is human resources. Finance
departments, which are known for their embrace of
analytics, reported relatively limited use of analytics
for new products, services, and processes.
The ability to innovate with data is clearly tied to
having effective data-sharing practices (though to a
lesser extent in some — but not all! — heavily regu-
lated industries). (See Figure 7.) Organizations with
a high ability to innovate (those that somewhat or
strongly agree that analytics helps them innovate)
share data both internally and beyond company bor-
ders at much higher levels than other organizations:
80% of these organizations report sharing data inter-
nally, compared with 53% of other organizations.
Yet, in many organizations, data remains stuck in
functional silos or within departments. Nearly
half of respondents say that their companies are
secretive or somewhat secretive about sharing data
(internally and externally). Less than 10% describe
their companies as open about sharing data. “It’s
a fun topic within our company, because each
division has its own data silos,” says Bridgestone’s
Moody. “We’re slowly starting to break down those
walls and trying to build out an enterprise analyt-
ics sandbox, where we can get all the data together
29. so we can do a lot of the more advanced analyt-
ics modeling.” Technical barriers to sharing are
diminishing with increased reliance on infrastruc-
ture such as cloud computing, but organizational
barriers are still common impediments to dissolv-
ing data silos and creating broad-based access to
useful information.4
At W.L. Gore & Associates Inc., systems architect
Chris Chen is keenly aware of the need to unlock
siloed data to enable innovation. Gore, a manu-
facturer of advanced materials based in Newark,
Delaware, is a research-driven company that is fa-
mous for its Gore-Tex waterproof fabric. “We have
been running experiments for almost 60 years, but
we should be able to do more with the data,” Chen
says. “If we could look at all the experiments collec-
tively, would we see that we completely missed some
white space in the search? It is hard to answer that if
each experiment is a one-off dataset sitting on indi-
vidual computers.” Sharing is particularly important
Sharing Data Accelerates
Innovation
FIGURE 7: SHARING DATA HELPS ORGANIZATIONS
INNOVATE Organizations with a high ability to innovate share
data the most.
High ability to innovate
Low ability to innovatePercent of
respondents
who somewhat
or strongly
agree that their
30. organization
makes data
available to
the following
groups
Internal
stakeholders
Suppliers CompetitorsPotential
customers
Existing
customers
35%
63%
38%
21%
53%
80%
15%
8%
43%
58%
31. ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 11
for catching errors of omission. Without effective
data-sharing practices, it’s difficult for an organiza-
tion to know whether some analysis has been tried
before, with or without success. Processes need
to be established to record both successful and
unsuccessful results in order to avoid errors. Chen
believes that by combining data from all those ex-
periments, the company might “stumble upon” the
next Gore-Tex, an innovation that nobody knew
was needed but has become essential to outdoor
enthusiasts and workers, as well as a huge success
for the company. “More importantly, is there a more
methodical way to stumble?” he adds. “That’s what
data and analytics lets us do.”
Sharing data across silos is necessary, but by itself,
data sharing is insufficient to generate valuable
insights; companies often need employees with
very different skill sets to collaborate in order to
unite different views about what the data means.
Arabesque Partners, a London-based asset man-
agement firm that invests in companies with good
environmental, social, and governance (ESG)
practices, needs analytics teams and subject-matter
experts to work together to weight a variety of
data inputs, from board composition information
to green supply chains, in order to create the best
algorithms. “Our firm is built on two pillars, sus-
tainability research and the quant skill set, using
artificial intelligence in order to maximize informa-
tion out of that,” says CEO Omar Selim. “I look at
the head of ESG and the head of quant, and think,
‘Thank goodness they are good friends, because they
32. fight often with each other.’ But the friction is where
we generate the value.”
It is possible, of course, for information sharing to
undermine the innovation that leads to distinctive
products. At Gap Inc., the company’s analytically
oriented CEO Art Peck encourages product teams
from The Gap and Old Navy to meet regularly to
discuss fabric innovations and other issues. But
some analysts believe that Old Navy cannibalized
sales from The Gap, as the two brands now sell simi-
lar merchandise.5 Knowing when and how to share
which information — and why — helps determine
an effective data-sharing practice.
Creating passages between
organizations
Sharing data beyond the bounds of the corporation is
another way in which organizations that use data to
innovate get the most out of analytics. Wahoo Fitness
puts data at the core of its marketing initiatives to de-
velop insights about its customers and how to market
to them and find other individuals like them — such
as identifying those that have the highest lifetime
value — that the company could not generate with its
own data alone. So, for example, it uses insights from
social signals on Facebook and Strava (a fitness app
for cyclists) that in turn provide Wahoo with infor-
mation about the online behavior of those consumers,
including ad impressions that they are exposed to.
Combining multiple data sources, while difficult,
provides insights that are not possible when they are
used in isolation from one another.
German automakers BMW, Daimler, and Volkswa-
33. gen take the practice of sharing data to a new level.
In 2015, they formed an alliance and bought Berlin-
based HERE, a digital mapping company, to create a
crowdsourcing service that enables drivers to share
detailed video views of traffic jams and other road
conditions on a single platform. “You have compet-
ing brands which are putting their data together to
create very unique services which were not possible
before,” says Bruno Bourguet, HERE’s global head
of sales.6 The new service, expected to go live in the
first half of 2017, will also collect data from brakes,
windshield wipers, headlights, locations systems,
and other sensors from their respective car brands
to deliver real-time alerts to driver dashboards. The
sheer number of customers participating in this
platform is expected to create a service that delivers
more value to each car owner than a comparable
effort from an automaker with fewer customers — a
competitive advantage for the partnership.
Competitors’ willingness to share what they regard as
proprietary information, even with guarantees that
their data will be anonymized and protected, varies
by industry. GE is still trying to convince oil and gas
customers to share performance data for industry-
wide benchmarking. The benefits could be enormous,
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since even small improvements can be worth hun-
34. dreds of millions of dollars for major oil companies.
Oil and gas customers tell GE that they would like to
have the benchmark data but are unwilling to con-
tribute their own, so the data sharing is not occurring
— nor is the innovation it might enable.7
Efforts to share data across industry lines — even
when there is little risk that a competitor will gain
advantage — are also fraught. As noted, Bridgestone
sees an opportunity to create a new business model
based on selling proactively, reminding customers
when it’s time to have their tires checked or perform
preventive maintenance. But it does not yet have
access to the telematics data gathered by onboard
computers to make the model work. Auto dealers
do have access to the data, at least when cars are
under warranty. And some insurance companies
also gather telematics data from drivers who permit
them access in order to qualify for discounts based
on what the data shows about their driving habits or
for pay-as-you-go coverage.
Today, neither car manufacturers nor insurers share
telematics data, but Moody is optimistic that they
will. “I think data sharing, especially with another
industry, is really going to start to open up, because
we are going to start competing so much with ana-
lytics and data that the more that we can partner
with others to potentially share data or trade data
between organizations, the better everyone’s ana-
lytics will be,” he says. “I see a huge amount of new
relationships forming to be able to do data sharing
among companies to help improve decisions.”
35. As these examples make clear, ownership of useful
data is altering power relationships within indus-
tries and even within companies. As organizations
learn how to extract more and more value from data,
incumbents that grew to prominence based on phys-
ical assets now face diminished importance of those
assets due to the rising value of data. Amazon.com
Inc.’s knowledge about what its more than 300 mil-
lion customers are buying, for instance, gives it an
enormous advantage over traditional retailers and
provides market power in its dealings with suppliers.
Data governance liberates
opportunity
Opening the data floodgates between organizations
and industries won’t work without structure. Data
governance encourages data sharing by control-
ling what can and cannot be shared. In health care,
well-established regulations about how patient data
can and cannot be shared can actually encourage
sharing rather than restrict it. In our survey, 25% of
respondents from health care industries said they
are likely to share data with competitors, compared
with 19% of respondents from other industries. (See
Figure 8.) Nearly 40% of companies that have both
high innovation capabilities and are high-sharing
(an overlapping set) agree that good governance is
liberating, while only 14% of companies with low
innovation capabilities see governance as a positive.
Good governance can improve both the effective-
ness and speed with which shared data and analytics
improve innovations:
• When using shared data, organizations are fur-
36. ther removed from the original source of the data
and may miss important information about the
data. “Effective use requires both stewardship
FIGURE 8: GOVERNANCE CAN LIBERATE
Organizations that share data and innovate say governance
helps.
Percent of respon-
dents who agree to
a moderate or great
extent that their
organization’s data
security practices lib-
erate them to create
value from analytics
HighLow
Ability to innovate
HighLow
Level of sharing
19%
38%
14%
39%
ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 13
37. and protocols,” says Peter Levin, a senior research
scientist at Intel Corp. “Stewardship defines both
data and algorithm access, limits, and exchange
rules. Protocols describe the metadata needed to
provide the context.” Good governance practices
promote effective use of data.
• Integrating data from multiple sources can slow
down the data flow, as each step can add delay. At
the Federal Bureau of Investigation, maintaining
security — a form of preventive maintenance in
the public sector — often depends on many dif-
ferent groups sharing data with one another in
a timely manner. “Security events may be con-
nected even though initially they may appear
isolated,” says Kevin Swindon, an FBI special
agent and supervisor of the Boston Division
CYBER Program. “Analytics now lets us uncover
patterns, and these patterns may provide inves-
tigative clues. However, speed is critical. As we
have better defined our processes around data
sharing, we’re able to focus on these types of inci-
dents quickly, rather than spending time figuring
out the mechanics around the data.” Good gov-
ernance practices can also improve the speed of
innovative use of data.
Smart machines create more time for
innovative thinking
Smart machines that can take on tasks that tra-
ditionally required a human have captured the
popular imagination. But the immediate ben-
efits from smarter machines are not in human
replacement. As Tom Davenport, the President’s
Distinguished Professor of Information Technology
38. and Management at Babson College, has written,
“Of course, automation technologies bring fears of
job loss. I believe that when an organization adopts
these tools, it’s a bad idea to put the primary focus
on eliminating human jobs.”8 Instead of elimination,
liberation and augmentation more aptly describe
the implications of automation for some segments
of the labor market. For example, machine-learning
techniques applied to dull, repetitive, data-cleaning
work allow computers to learn from patterns they
discern in large datasets, enabling companies to
automate some analytical tasks and freeing up data
experts to work on higher-value-added tasks. Data
experts are just one of many pools of workers that au-
tomated work flows may affect in ways that are not
yet known.9
For several years, the more advanced corporate users
of analytics in our surveys have told us they are using
analytics to automate processes in their companies.
This year, 63% of our Analytical Innovators say they
are somewhat or very likely to turn analytical insights
into automated processes. (See Figure 9.) This com-
pares with 14% of respondents in the Analytically
Challenged category. More than 60% of all compa-
nies surveyed say that some organizational tasks once
done by humans in their companies have been auto-
mated, at least to some extent, because of analytics.
More than 40% of companies surveyed say that they
use analytics to augment human tasks, and 70% of
Analytical Innovators say their companies are doing
so. Fewer companies overall and fewer Analytical In-
novators say that tasks are being fully automated. So,
39. at least for now, rather than always replacing human
skills and jobs, companies use analytics to help hu-
mans work better or complete tasks that they could
Analytical Innovators
Analytical Practitioners
Analytically Challenged
Overall
Percent of respondents reporting a
moderate or great extent of change
due to data and analytics
New
human tasks
Humans now but
previously automated
TasksTasksT
augmented
Tasks nowTasks nowT
automated
62%
39%
18%
36%
70%
45%
40. 21%
41%
30%
17%
7%
16%
59%
38%
17%
34%
FIGURE 9: ANALYTICS ENABLES TASK
AUTOMATION AND AUGMENTATION Organizations
increasingly automate and augment, but new tasks for people
may
be the result.
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not have done themselves, such as scanning millions
of customer records to find patterns.
41. At Wayfair, Drollette talks about the importance of
automating certain types of work. “I think real time
is incredibly important, but to put a real-time data
feed in front of a person is kind of a recipe to have
them clicking their refresh button a little compul-
sively,” he says. “Instead of having a human try to
watch it and make sense of it, let’s put some complex
event-processing or some other algorithm in front
of it to decide what’s really useful in real time, curate
that, and maybe send an email when there’s some-
thing interesting, when there’s an exception that
needs to be looked into.” Machine intelligence in this
context lets Wayfair business processes use massive
data at scale, matching machines and humans to
their strengths.
Bridgestone found that workers were more than
happy to get assistance from a smart algorithm. For
years, the company used an essentially manual pro-
cess to allocate inventory across the United States.
Detailed segmentation through analytics led to
many specialized and targeted products, but after
a while, some stores had no room left to store ad-
ditional inventory. Physical constraints kept each
location from being able to keep a volume of every
product on hand. So employees then had the new
task of allocation to each individual location based
on its idiosyncratic customer characteristics. Moody
and his team offered to embed the current human
processes into dynamic algorithms that would use
sales data to allocate store inventory. The team that
had been struggling with the inventory process wel-
comed the new system. “They said, ‘Please help us
do this,’ ” Moody recalls. Now, instead of spending
42. their days trying to set the stock levels across the
entire country, the team is occupied with more stra-
tegic questions and happy to let the model do the
grunt work.
Similarly, at video game producer Electronic Arts
Inc., based in Redwood City, California, the design-
ers who dream up new games are embracing an
analytics system that tells them what characteristics
will make a game attractive to EA’s best customers.
They don’t regard it as a loss of creativity, says the
Wharton School’s Fader, but as a way to succeed.
“The chief analytics guy told me it’s every bit as much
a creative business as it was before, maybe more so,
because instead of trying to come up with a game for
everybody, they are designing for these really valu-
able customers, and it may be even more of a creative
challenge,” he says.
Many functional areas within organizations in-
creasingly look to data and analytics as a source of
knowledge and influence. Nearly 37% of respon-
dents in our 2016 survey say that analytics has
shifted the power structures in their organizations,
and two-thirds expect that analytics skills and con-
trol of data will determine which departments and
managers have influence in the future. Many func-
tional areas report increases in influence within
their respective organizations as a result of their
use of analytics. (See Figure 10.) “IT will continue
to play a critical role,” Moody observes, “but it may
have less influence over how data is consumed
across the company.”
Conclusion
43. FIGURE 10: CONTROLLING DATA IS A SOURCE OF
ORGANIZATIONAL INFLUENCE Departments across
organizations agree that knowledge and information affect
influence.
Percent of respondents who report some or
significant increase in the following forms of influence
40% 50% 60% 90%% 980% 9% 9%% 9% 970% 9% 9%%
930%20%10%0%
Formal authority
Control of knowledge
information
Customer service
Finance
General management
Human resources
Information technology
Marketing
Operations
Product development
Research and development
Sales
Supply chain
44. ANALYTICS AS A SOURCE OF BUSINESS INNOVATION •
MIT SLOAN MANAGEMENT REVIEW 15
As more companies draw on analytics for a com-
petitive edge and more departments within a given
organization explore the potential of analytics, several
complementary trends are emerging around an orga-
nization’s new emphasis on data (its own and others’):
1. Businesses that take data seriously organize
themselves around data as if it were a valuable
organizational asset. The sources of data-driven
innovation draw from strong data governance
practices and a propensity and ability to share
data. The growing ranks of analytically mature
organizations, the Analytical Innovators, sug-
gest that more organizations are developing
these practices and propensities. This doesn’t
mean that an organization should rely exclu-
sively on its own data; nor does it mean relying
exclusively on others’ data. Data from other or-
ganizations can augment organizational insights
around customer behavior and market segmen-
tation. Having strong governance practices
that enable data sharing, both within the enter-
prise and across enterprises, may be critical to
innovation that relies on integrated datasets. Ex-
ecutives need to carefully weigh the trade-offs
that come with developing an in-house capabil-
ity for integrating and analyzing datasets versus
relying on external providers who can scale but
may not be able to custom fit — for example,
explain your company’s customer behavior at a
45. level that has genuine business value. In either
case, creating processes that ensure confidence
in the data is critical.
2. Data sharing requires many parts of an organi-
zation to work together, sometimes in tandem
with other organizations. Awareness is critical
— who else in your organization is working with
data that may intersect with your own uses of
data? Creating mechanisms for understanding
how other business silos use data can deepen
innovation opportunities within a given silo.
Cultural norms that encourage managers to
use these mechanisms are also necessary. Data
sharing, and related practices, are not merely
tactics for deriving business value. To be effec-
tive over time, they must be embedded in the
culture of the organization. Cultural norms for
data sharing will vary depending on whether a
company is in a more or less heavily regulated
industry. But even in the most heavily regulated
industries, such as health care and finance, a
fair amount of data sharing occurs within and
sometimes across the industry. Regulations
and data governance remove uncertainty about
what can be shared, how, and by whom.
3. Innovating with data also means ensuring that
functional areas have the data and analytics
capabilities to apply data to specific business
problems. In some respects, this involves de-
mocratizing access to data. But that is surely not
enough. One oft-cited goal of the chief infor-
mation officer is “to get the right information to
47. R E S E A R C H R E P O R T A N A L Y T I C S A S A S O
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REFERENCES
1. These figures are for the entire Bridgestone North
America retail operation, which includes stores operated
under the Firestone name.
2. Third-party data vendors have, and likely will continue
to have, a large role in helping companies understand
customer behavior. Indeed, Nedbank Group Ltd., the
Johannesburg, South Africa-based financial institution,
offers a data service to its small- and medium-sized mer-
chant customers, using credit and debit card transactional
data. This gives its business customers insights into their
own customers that would have been impossible for
them to do themselves. However, other companies are
becoming less dependent on third-party vendors and are
now developing their own data capabilities to build their
own distinctive perspectives on their own customers.
3. See also B.H. Wixom and J.W. Ross, “How to Monetize
Your Data,” January 9, 2017, http://sloanreview.mit.edu.
4. S. Ransbotham, D. Kiron, and P.K. Prentice, “Beyond
the Hype: The Hard Work Behind Analytics Success,” MIT
Sloan Management Review, March 2016,
https://sloanreview.mit.edu.
5. K. Safdar, “As Gap Struggles, Its Analytical CEO Prizes
Data Over Design,” Wall Street Journal, Nov. 27, 2016.
6. E. Auchard, “HERE, Automakers Team Up to Share Data
on Traffic Conditions,” Sept. 25, 2016, www.reuters.com.
48. 7. L. Winig, GE’s Big Bet on Data and Analytics, MIT Sloan
Management Review, February 18, 2016, https://sloanre-
view.mit.edu.
8. T.H. Davenport, “IT Drinking Its Own Automation Cham-
pagne,” Nov. 10, 2016, http://data-informed.com.
9. J. Manyika, M. Chui, M. Miremadi, J. Bughin, K. George,
P. Willmott, and M. Dewhurst, “A Future That Works: Au-
tomation, Employment, and Productivity,” January 2017,
www.mckinsey.com.
ACKNOWLEDGMENTS
Ravi Bapna, Carlson Chair in Business Analytics
and Information Systems, University of Minnesota
Ken Cartwright, senior director of software devel-
opment, Transaction Network Services
Chris Chen, core technology global engineering
leader, W.L. Gore & Associates
Peter Fader, professor, University of Pennsylvania
Nathan Falkenborg, global cards and loans analyt-
ics leader, HSBC
Alvin Glay, head of digital marketing, Wahoo Fit-
ness
Sean Kent, director, product management, Trans-
action Network Services
Peter Levin, senior research scientist, Intel
Joe Malfesi, vice president, Infrastructure Services,
Transaction Network Services
Kristina McElheran, assistant professor of strategy,
University of Toronto
Keith Moody, director of analytics, Bridgestone
Retail Operations
Omar Selim, CEO, Arabesque Partners
49. Kevin Swindon, special agent, Federal Bureau of
Investigation
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58380Wx.pdfboilerplate.pdfGlobalAccelerated Innovation: The
New Challenge From ChinaAccelerated Innovation: The New
Challenge From ChinaThe Push to Accelerate InnovationAbout
the ResearchIndustrializing the Innovation ProcessPushing the
Boundaries of Simultaneous EngineeringCycling Rapidly
Through “Launch-Test-Improve”Combining Vertical Hierarchy
With Horizontal FlexibilityImplications for Global
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ChallengeReengineering Established Innovation
ProcessesFocusing R&D Activities on Leveraging Accelerated
Innovation CapabilitiesExploiting the Potential of Alliances
With Chinese PartnersAbout the AuthorsReferences