Data science is a method for transforming business data into assets that help organizations improve revenue, reduce costs, seize business opportunities, improve customer experience, and more. What is data science? Data science is a method for gleaning insights from structured and unstructured data using approaches ranging from statistical analysis to machine learning. For most organizations, data science is employed to transform data into value that might come in the form improved revenue, reduced costs, business agility, improved customer experience, the development of new products, and the like. “The amount of data you can grab, if you want, is immense, but if you’re not doing anything
How do you take your business into the brave new world of digital innovation? Here are a few examples of how this is happening today. Today’s wholesale value chain is undergoing dynamic change. New business models are changing how we do business on a daily basis. We’re now seeing smarter robots and the beginning of artificial intelligence. Smarter printing and products are giving consumers new options. We have new opportunities in service and maintenance models. We’ve also heard a great deal about the push for technology adoption in the business to consumer (B2C) market. At the same time, the business-to-business (B2B) or wholesale market has
How Blockchain Can Empower Content Creators Decentralization and blockchain would be the perfect fit to empower content creators. Every piece of content could be recorded on the blockchain along with impressions, likes and comments. Platforms like Twitter, Facebook and Instagram run a ton of advertisements. Those dollars go directly from advertisers to the social media platforms. Content creators don’t see any of it unless they have a special arrangement with the advertiser or the social network. For the majority of creators, this is not the case. Decentralization and blockchain would be the perfect fit to solve this problem. Every single piece of unique content could
Digital Business transformation augments the value creation processes of today’s leading organizations. A successful transformation begins by identifying where and how digital technologies, and the resulting data, can be applied to optimize key business processes, uncover new monetization opportunities and create a more compelling customer experience The world is undergoing a digital transformation. For example, there will soon be over a billion smartphones, impacting all aspects of organizations’ value chains, commerce, and customer and supplier engagement processes. This transformation will result in an explosion in digital data (see Figure 1), and more importantly, usable insight. Figure 1: IDC’s Digital Universe Study, April 2014, sponsored by
StubHub When CIO Marty Boos joined StubHub five-plus years ago the ticket retailer’s infrastructure was struggling to handle the sheer volume of a business that processes thousands of ticket transactions daily for concerts and sporting events. Leveraging Linux servers and technology from VMware, Akamai and Oracle, Boos built a private cloud that scales elastically. To better support global transactions in the wake of StubHub’s purchase of Ticketbis, Boos is close to picking a public cloud vendor to process payments locally in 44 countries worldwide. “We’re going to use that to get the transaction closer to the consumer,” Boos says. The private but soon-to-be hybrid cloud
Everybody knows someone who has a stack of 3½-inch floppies in a desk drawer “just in case we may need them someday.” While that might be amusing, the truth is that relatively few people are confident that they’re making satisfactory progress on their digital journey. The boundaries between the digital and physical worlds continue to blur — with profound implications for the way we do business. Virtually every industry and every enterprise feels the effects of this ongoing digital transformation, whether from its own initiative or due to pressure from competitors. What is digital transformation? It’s the wholesale reimagining and reinvention of how businesses operate,
“Agile, flexible IT is the key to a successful digital transformation. That means the right mix of on-premises and public cloud, and managed infrastructure,” says Rick Einhorn, worldwide vice president, data center consulting, part of HPE Pointnext, Hewlett Packard Enterprise’s newly branded services arm. The digital imperative has gained urgency. HPE studies show that more than 67 percent of technology leaders surveyed at Forbes Global 2000 enterprises expected their top initiatives to be related to digital transformation. By 2018, these companies will have digital transformation at the core of their IT strategy. https://www.technologyreview.com/s/603990/a-field-guide-to-digital-transformation/
Here are 10 business models behind digital disruption, as covered by Jo Caudron and Dado Van Peteghem in their book Digital Transformation, and 7 strategies to respond to disruptors if you are getting disrupted, as enumerated by IMD’s Professor Michael Wade, co-director of the IMD Leading Digital Business Transformation course.
For the past several years, digital transformation has been a constant topic of focus in the business community. Much has been written about the risks of digital disruption and the need for digital transformation in the world of digital platforms. But what does digital transformation really mean—and why do so many companies fail to achieve their goals? One of the main problems is that there are actually two types of digital transformation: linear and exponential. Most companies want the results of the exponential transformation, but focus instead on the linear transformation, which is easier to understand and implement. So what differentiates linear and exponential transformation?
We have found that for companies to build value and provide compelling customer experiences at lower cost, they need to commit to a next-generation operating model. This operating model is a new way of running the organization that combines digital technologies and operations capabilities in an integrated, well-sequenced way to achieve step-change improvements in revenue, customer experience, and cost. Link http://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-next-generation-operating-model-for-the-digital-world