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

Empowerment #1: Internalize the Organization's Mission

Gaining buy-in to the organization's Mission Statement requires that everyone be able to internalize what that mission statement means to them, their jobs, and their personal principles.

Make sure that everyone in the organization—and I mean E-V-E-R-Y-O-N-E—understands the organization's Mission Statement (and it will help to have a simple-to-understand one). A Mission Statement should not be long (it should pass the 30-second elevator test) and not contain non-descript, non-committal weasel words. A Mission Statement should clearly articulate why an organization exists.

Here are some of my favorites:

  • TED: Spread ideas.
  • JetBlue: To inspire humanity—both in the air and on the ground.
  • American Heart Association: To be a relentless force for a world of longer, healthier lives.
  • Patagonia: Build the best product, cause no unnecessary harm, use business to inspire...