Book Image

The Economics of Data, Analytics, and Digital Transformation

By : Bill Schmarzo
5 (2)
Book Image

The Economics of Data, Analytics, and Digital Transformation

5 (2)
By: Bill Schmarzo

Overview of this book

In today’s digital era, every organization has data, but just possessing enormous amounts of data is not a sufficient market discriminator. The Economics of Data, Analytics, and Digital Transformation aims to provide actionable insights into the real market discriminators, including an organization’s data-fueled analytics products that inspire innovation, deliver insights, help make practical decisions, generate value, and produce mission success for the enterprise. The book begins by first building your mindset to be value-driven and introducing the Big Data Business Model Maturity Index, its maturity index phases, and how to navigate the index. You will explore value engineering, where you will learn how to identify key business initiatives, stakeholders, advanced analytics, data sources, and instrumentation strategies that are essential to data science success. The book will help you accelerate and optimize your company’s operations through AI and machine learning. By the end of the book, you will have the tools and techniques to drive your organization’s digital transformation. Here are a few words from Dr. Kirk Borne, Data Scientist and Executive Advisor at Booz Allen Hamilton, about the book: "Data analytics should first and foremost be about action and value. Consequently, the great value of this book is that it seeks to be actionable. It offers a dynamic progression of purpose-driven ignition points that you can act upon."
Table of Contents (14 chapters)
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Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics

University of San Francisco Economic Value of Data Research Paper


Note: This chapter is a republishing of the original ground-breaking research paper titled "Applying Economic Concepts to Big Data to Determine the Financial Value of the Organization's Data and Analytics and Understanding the Ramifications on the Organizations' Financial Statements and IT Operations and Business Strategies" that Professor Mouwafac Sidaoui and I did while at the University of San Francisco School of Management.

I am including the paper in its original version (except for some minor changes) because the research process and subsequent discoveries provided the catalyst for writing this book.

This paper truly caused me to change my frame with respect to how I thought about determining the value of data, and ultimately, the value of analytics.

I hope you enjoy reading—and studying—it as much as I enjoyed researching and...