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

Algorithms gone wild

Of course, not every algorithm is designed to increase operational efficiency, enhance marketing programs, or improve customer service. In one of the more interesting applications, David Cope, a former professor of music, created “Emily Howell,”13 a software program that “learns” how to compose original classical music. Apparently, the application has gotten so good at doing what it does that leading experts have been unable to differentiate Emily’s music from compositions written by humans. Clips from Emily’s latest album, “From Darkness, Light,” are available on Amazon’s website.14

Emily Howell’s compositions are certainly impressive, but such sophisticated automation raises a number of issues. As much as the algorithm economy opens the door for compelling value propositions, companies will need to exercise caution and good governance as they rely increasingly on algorithmically-driven business...