Book Image

Analytics: How to Win with Intelligence

By : John Thompson, Shawn P. Rogers
Book Image

Analytics: How to Win with Intelligence

By: John Thompson, Shawn P. Rogers

Overview of this book

Today, business is moving into an era where information is more valuable than services. Organizations that connect information with their products will have a huge advantage. This book helps people understand the power of data analytics and explains how some of the tools available can be applied to a wide range of applications. It begins with a brief history of analytics and explains how it all began. You'll learn about several common analytical approaches and the tools that data scientists use to analyze data. You'll gain insight into some staffing models, technologies, organizational structures, and analytical approaches used in the previous two eras of analytics. As you progress through the chapters, you'll also get a glimpse into the future of the analytical marketplace. After reading this book, you will be able to help your team deploy analytical elements into your operations and become competitive in your business.
Table of Contents (11 chapters)
Free Chapter
1
Foreword by Tom Davenport

Creating products using data and insights

The algorithm economy has gained solid traction on many fronts. Some applications are related to infrastructure and back-office functions, while others are customer facing. Netflix was willing to spend $1 million for an algorithm to improve its video recommendation service for its customers. Other companies have been investing in algorithms not just to improve their current product and service offerings, but also to extend them in innovative ways. These firms have been infusing their core product offerings with data collection and analytics to enhance their performance. Consider the following customer-facing examples of the algorithm economy in action:

  • Oral-B has designed a Bluetooth-connected “Smart Toothbrush.”8 The product works with a consumer’s smart phone to collect and analyze various data, enabling an algorithm to score that person’s “performance” on oral hygiene and give real-time...