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Deodorizing Your Data

Problems with data quality come from a lot of sources — short-term solutions, mergers or acquisitions, or even the mundane complications of living in a complex society. The “stench” that develops when data quality declines can create serious issues for data-driven business. If a foul odor is emanating from your data, one solution might lie in refactoring analytics processes.

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Participant Questions From the Recent “Internet of Things” Webinar

On July 30th, 2015, MIT Sloan Management Review hosted a webinar on “Managing Data in the Age of the Internet of Things.” At the end of the webinar, many participants asked questions, but we didn’t have time to answer them all during the webinar itself. We’ll answer some of the most popular questions here. Included: Should an international organization be required to take control of uniting the Internet of Things (IoT) into one system?

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The Talent Dividend: Interactive Infographic

An interactive infographic from MIT SMR’s content collaborator, SAS, and its partner site, AllAnalytics.com, highlights findings from the 2015 data and analytics research report, The Talent Dividend. The animated infographic illustrates several key stats from the report, including findings on finding, acquiring and managing analytics talent, and on changes to how companies are leveraging analytics for competitive advantage.

Image courtesy of Flickr user enshahdi https://www.flickr.com/photos/shahdi/5210439036/
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How to Build (and Keep) a World-Class Data Science Team

To manage a first-rate data science or quant group, leaders need to build an engaging environment, get the team the resources it needs and balance being involved while also staying out of the way. In banking, for example, division managers generally don’t review loan applications. But in analytics, the most successful leaders engage regularly in hands-on research and continue to publish regularly even as they move up the executive ladder. By staying active in line research, analytics managers are able to hone their abilities to judge how difficult projects are and how long they will take.

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Why Sustainability Ratings Matter

The convergence of communications technology, big data and globalized markets make ratings based on environmental, social and governance (ESG) performance indispensable for B2B and B2C exchanges. Credible, transparent and timely ratings are a powerful enhancement in a fast-moving global economy. As ESG issues are recognized as material to investment decision making, the need for trusted, transparent ESG ratings will intensify.

Image courtesy of Flickr user janneke staaks https://www.flickr.com/photos/jannekestaaks/14391226325
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Why Managing Data Scientists Is Different

The process of managing a data science research effort “can seem quite messy,” writes MIT Sloan's Roger M. Stein. That can be “an unexpected contrast to a field that, from the outside, seems to epitomize the rule of reason and the preeminence of data.” While businesses are hiring more data scientists than ever, many struggle to realize the full organizational and financial benefits from investing in data analytics. This is forcing some managers to think carefully about how units with analytics talent are structured and managed.

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How is Digitization Affecting Your Business?

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How much of a threat does digital disruption present to your business? A short online questionnaire from Peter Weill and Stephanie L. Woerner, both of MIT Sloan's Center for Information Systems Research, helps assess digital risk. “Although sweeping technology-enabled change often takes longer than we expect, history shows that the impact of such change can be greater than we ever imagined,” they write. “Think steam engines, cars, airplanes, TVs, telephones and, most recently, mobile phones and e-books.”

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Better Decision Making with Objective Data is Impossible

“Our world is awash in data, and data is not the same thing as facts,” writes Boston College's Sam Ransbotham. “While data seems to promise objectivity, instead it requires analysis — which is replete with subjective interpretation.” Ransbotham argues that while having data is a necessary step towards making objective decisions, it’s a myth that data is objective. Moreover, findings that counter current thinking provide organizations with opportunity for distinction, differentiation and advantage.

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Image of Elon Musk courtesy of Flickr user Maurizio Pesce
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How Do Innovators Spot Market Opportunities?

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Executives need the ability to quickly spot both new opportunities and hidden risks. Asking the right questions can broaden perspective and shake up existing assumptions. For instance, Elon Musk, founder of Tesla Motors, SpaceX and SolarCity, has a noted ability to spot unmet market needs. Musk has said that his forward-thinking style, exemplified in his vision of commercializing electric vehicles for the mass market, comes from “just trying really hard — the first order of business is to try. You must try until your brain hurts.”

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Using Big Data for Better Health Outcomes

Intermountain Healthcare is leading the way in data driven healthcare. In an example from Intermountain’s own operating rooms, the use of data to measure the impact of standardized surgeon attire on infection rates resulted in a significant drop in those rates. The infection control scenario is just one result from decades of work at Intermountain to build a data culture. Over the years, clinicians have learned to work together on a concerted effort to bring data based insights to clinicians and managers.

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Infographic: Transforming the Digital Enterprise

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A key finding from the 2015 digital business research report by MIT Sloan Management Review and Deloitte indicates that strategy, not technology, drives digital transformation. An infographic illustrates some of the primary features of a digitally transformed business, as highlighted in the report. The infographic also illustrates the importance of digital maturity to employees across all age groups and industries and the keys to making digital transformation happen.

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To Red-Card Corruption, You Have to Know What a Foul Is

Soccer’s governing body, FIFA, is in crisis over corruption — and MIT Sloan Management Review’s guest editor for Sustainability, Gregory Unruh, says the situation offers a useful case study for corporate social responsibility. By looking at the FIFA scandal, Unruh argues, managers can learn how to identify corruption from a systems perspective — and understand why it harms their business.

Image courtesy of Flickr user Yuichi Sakuraba. https://www.flickr.com/photos/skrb/4376216155
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Embracing Digital Technologies in Traditional Worlds

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Business that are succeeding in the digital world are questioning key managerial assumptions. Case in point: PagesJaunes, the French Yellow Pages company. It “realized a few years ago that selling ads in thick, yellow print directories would not remain viable for long in an age of Google and Yelp.” To embrace digital opportunities, the company questioned assumptions about what is valuable about it strategic assets. It shifted its business model to online advertising and helping its small business customers build their own digital capabilities.

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The New Data Republic: Not Quite a Democracy

There are clear signs that the movement to democratize data is making real progress. Barriers such as infrastructure, culture, tools, and governance that once kept data access limited are quickly eroding. But access to data isn’t enough: Data democratization also requires knowing how to work with data and understand data analysis tools and techniques. Without these capabilities, the data democracy is only an illusion — and most people are still unable to participate fully.

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Social Media Expands Horizons for Workers with Autism Spectrum Disorder

Social media is a tool that allows autistic workers to better express their unique abilities — and tech companies are taking notice. Software giants such as SAP and Microsoft are now actively looking to hire people with autism, and SAP plans to have autistic employees make up at least 1% of its workforce by the year 2020. “Only by employing people who think differently and spark innovation will SAP be prepared to handle the challenges of the 21st century,” says Luisa Delgado, a member of the SAP executive board.

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More Companies Are Cashing In on Underused Resources

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Companies can participate in “collaborative consumption” through creative new approaches to defining and reusing their resources. So write Kurt Matzler, Viktoria Veider and Wolfgang Kathan, all of University of Innsbruck. For instance, LiquidSpace, based in Palo Alto, California, connects organizations that have unused office space with temporarily renters. It has been called the “Airbnb of work spaces” and is extending the idea of sharing unused capacities to companies that aren’t totally built around the collaborative model.

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Participant Questions from the Recent Data & Analytics Webinar

On May 7, 2015, we held a free, live webinar to share the findings and insights from the latest MIT Sloan Management Review Data and Analytics Big Idea Initiative research report, “The Talent Dividend.” The report presents our findings on the role of analytics talent in creating competitive advantage. At the end of the webinar, many participants asked questions. Unfortunately, we didn’t have time to answer them all during the webinar itself. So instead, we’ll answer some of the questions this month, and some next month.

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Should Employers Help Employees Turn Off Technology?

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Pervasive and near-continual use of organizational information technology systems is taking a toll on some employees’ health. Companies have to step in to help, argue Monideepa Tarafdar (Lancaster University), John D’Arcy (University of Delaware), Ofir Turel (California State University) and Ashish Gupta (University of Tennessee Chattanooga). “Even as they dream of escaping from IT, many employees also confess to feeling ‘addicted’ to some of these stress-causing technologies,” the authors write. “We may be entering an era in which human frailties begin to slow down progress from digital technologies.”

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