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
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11
Index
Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics

Chapter 1: The CEO Mandate: Become Value-driven, Not Data-driven

  • "Data is the new oil" in that the way that oil fueled the economic growth of the 20th century, data will be the catalyst for the economic growth in the 21st century.
  • If "data is the new oil," then how effective is your organization at leveraging data and analytics to power your business model?
  • Data may be the new oil, but it is the customer, product, and operational analytic insights buried in the data that will determine the winners and losers in the 21st century.
  • Crossing the "Analytics Chasm" requires organizations to leverage the economics of data and analytics on a use case-by-use case basis.
  • Data science is about identifying variables and metrics that might be better predictors of performance.