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


Evolutions are nice and safe (unless you are the dodo bird). Revolutions, on the other hand, totally disrupt business models while seeking to disintermediate competitors' customer relationships and reinvent industry value chains. To survive the revolution, organizations must seek to reinvent how they create new sources of customer, product, and operational value. If you want to exploit the "8 Laws of Digital Transformation," organizationally, that means:

  • Transitioning from siloed business functions to interdisciplinary collaboration.
  • Moving from seniority-based, leader-driven decision making to data and analytics-driven decision-making at the front lines of customer engagement and operational execution.
  • Transforming from a rigid and risk-averse culture, to an agile, experimental, learning, and adaptable culture.
  • Becoming value-driven within the frame of customer journey centricity.

Now we are ready to move to the final chapter...