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)
10
Other Books You May Enjoy
11
Index
Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics

Empowerment #5: Embrace Critical Thinking

Critical Thinking is the judicious and objective analysis, exploration, and evaluation of an issue or a subject to form a viable and justifiable judgment.

Teaching my university students to embrace critical thinking is crucial for creating our future business and civic leaders. Likewise, it is also crucial for achieving digital transformation. Here is what I expect of my students with respect to mastering critical thinking:

  1. Never accept the initial answer as the right answer. It's too easy to take the initial result and think that it's good enough. But good enough is usually not good enough, and one needs to invest the time and effort to explore if there is a better "good enough" answer.
  2. Be skeptical. Never accept someone's "statement of opinion" as "fact." Learn to question what you read or hear. It's very easy to accept at face value whatever someone tells you, but that...