Data & Analytics

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Beyond the Hype: The Hard Work Behind Analytics Success

The 2016 Data & Analytics Report by MIT Sloan Management Review and SAS finds that analytics is now a mainstream idea, but not a mainstream practice. Few companies have a strategic plan for analytics or are executing a strategy for what they hope to achieve with analytics. Organizations achieving the greatest benefits from analytics ensure the right data is being captured, and blend information and experience in making decisions.

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Cognitive Technologies: The Next Step Up for Data and Analytics

This free on-demand webinar offers context for understanding cognitive technology offerings. It focuses on what technology capabilities will be available — and what tasks will still require human input. Topics include artificial intelligence, automation, and business rules for making cognitive technology functional. Presenters Thomas H. Davenport and Julia Kirby are co-authors of the forthcoming book Only Humans Need Apply: Winners and Losers in the Age of Smart Machines.

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GE’s Big Bet on Data and Analytics

GE has bet big on the Industrial Internet — the convergence of industrial machines, data, and the Internet. The company is putting sensors on gas turbines, jet engines, and other machines; connecting them to the cloud; and analyzing the resulting flow of data. The goal: identify ways to improve machine productivity and reliability. This MIT Sloan Management Review case study looks at how this traditional manufacturer is remaking itself into a modern digital business.

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What the Internet of Things Could Mean to Consumers

From wearables to hotel desks that remind us to move around, connected objects are becoming a bigger part of consumers’ lives. For instance, famed design firm IDEO is using people-centered design to envision the Internet of Consumer Things, including helping to create a headband that lets people measure their brain activity and track their mental focus. In the hospitality industry, smart locks, smart lights, and even desks that suggest changing your posture could all become routine.

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Pushing the Boundaries of Predictive Analytics and the IoT

From sensing issues with turbine engines to identifying non-standard washing machine loads, predictive analytics are a given in the Internet of Things (IoT). But what will happen to predictive analytics once everything is connected? This list of five links points to predictions and calculations that some people in the field are making.

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Free Webinar: Leveraging Smart Data for Mass Customization

Research shows that applying smart data and the principles of mass customization to transportation ecosystems is launching new business models — and fundamentally changing the way we travel. In this webinar, customization experts Wolfgang Gruel and Frank Piller expand on their research into how to create integrated smart data ecosystems that cross corporate boundaries. They also detail real-life mass customization lessons that can be applied to any industry.

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Webinar on Cognitive Technologies with Tom Davenport and Julia Kirby

Now available on-demand: This free webinar offers context for understanding cognitive technology offerings. It focuses on what technology capabilities will be available — and what tasks will still require human input. Topics include artificial intelligence, automation, and business rules for making cognitive technology functional. Presenters Thomas H. Davenport and Julia Kirby are co-authors of the forthcoming book Only Humans Need Apply: Winners and Losers in the Age of Smart Machines.

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How Time-to-Insight Is Driving Big Data Business Investment

With the emergence of a digital economy over the course of the past two decades, leading companies have learned that they must act faster to respond to customer needs and competitive dynamics. The fourth annual Big Data Executive Survey confirms that Fortune 1000 firms recognize that faster time-to-insight correlates with success and will be the driving force behind Big Data investment for the years ahead.

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Avoiding Analytical Myopia

Analytics offers managers a great way to fine-tune processes, but too many executives focus on metrics at the expense of the bigger picture. The blinders and focus that work well to optimize the details of a problem may prevent managers from seeing other options, and intense focus on a narrow measure can address only the well-specified puzzle — resulting in a myopic view of the problem. Executives who desire bigger breakthroughs need to encourage exploration.

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Enough Health Care Data for an Army: The Million Veteran Program

The holy grail of medicine is therapy that is customized for the patient. But to get there, health care researchers need huge amounts of data to help identify which genes affect health. The Million Veteran Program has tapped one of the largest cohorts available — U.S. military personnel — to obtain the dataset, but managing the security of this sensitive data is a challenge. In a Q&A, two of the project’s lead scientists, J. Michael Gaziano and Saiju Pyarajan, explain the process.

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Ready or Not, Here IoT Comes

The Internet of Things is on the brink of transforming business, but most businesses aren’t ready for the changes to the marketplace that the IoT will bring. There is very little time for companies to prepare for the changes coming as data-collecting devices proliferate. The good news is that by recognizing certain challenges, organizations can begin the possible, albeit difficult, process of getting ready.

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The Ethics of Wielding an Analytical Hammer

With analytics as a hammer, so many questions can start to look like nails. It is difficult for organizations to know what to do. But the “should” in “What should we do?” goes beyond just selecting what to hammer on for maximum insight. Companies need to pay attention to the ways in which the possibilities that analytical abilities create involve responsibilities as well.

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Viewing Data as a Liquid Asset

Most people recognize their data as an asset — yet few regard it as a liquid asset. But a chance meeting opened up an opportunity for using data assets in a different way to support R&D — and uncovered a whole new path for financing of science and tech research. SVB Analytics head Steve Allan explains how using analytics “allows us to ask if we need to look at the data a different way.”

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Data and Devices Bringing Transparency to Energy Use

Hugh Scandrett, VP of engineering for EnerNOC, is bringing transparency to an energy system that works against clarity. The goal: help companies realize more cost savings and cut back on energy usage. In a Q&A, Scandrett says that one big issue for companies is predicting future demand. “We predict a company’s usage based on analytics that look at weather, degree of sun azimuth, and a whole set of other parameters,” he says. “We then can provide techniques for minimizing peak usage, like pre-cooling a building.”

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Overcoming Legacy Processes to Achieve Big Data Success

Most large corporations are saddled with fragmented analytical processes, limiting their ability to operate with agility, flexibility, and insight. As a result, larger firms are often challenged when it comes to innovation and responsiveness. But Big Data approaches that enabled the flexibility and rapid growth of newer, smaller firms are being adopted by mainstream corporations. The goal: overcome legacy challenges and introduce greater corporate speed.

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Using Unstructured Data to Tidy Up Credit Reporting

Greg Jones, vice president of Enterprise Data & Analytics at Equifax, says the credit reporting agency is beginning to incorporate unstructured data from sources such as social media to better round out the individual profiles in its database. “My focus is to create a compelling differentiator between us and the other credit reporting companies by enabling our customers to provide the most efficient, the most predictive, and the most accurate experience for their customers,” he says.

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Secrets in the Age of Data

Secrets may be an unexpected casualty of increasing analytical prowess — just ask Volkswagen. Companies often have information they’d rather keep under wraps; sometimes it’s innocuous, like the timing of a new product launch, but other times it’s embarrassing details about unethical or even criminal behavior. But as data analytics becomes more broadly available, the chances of keeping secrets out of public view grow slimmer every day. Will this result in a change in how companies do business?

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Managing Data in the Age of the Internet of Things

Organizations have made great progress with analytics using traditional data sources, but Internet of Things (IoT) will mean a new upsurge in data, and attendant challenges in absorbing and analyzing that data. In this webinar, analytics experts Lynn Wu, Sri Narasimhan, and Sam Ransbotham discussed the data and analytics opportunities presented by this phenomenon.

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Telling Data’s Story With Graphics

At the alcohol beverage company Constellation Brands, graphic presentations of data are making it easier for sales people to see how they’re performing. In an interview with MIT Sloan Management Review, Joseph D. Bruhin, the company’s CIO, says that measuring marketing and sales efforts is a particular challenge in the alcohol industry — but one that his team has come up with a solution to. “Visibility of data is a critical piece,” he says. “We came up with a solution that’s really driven predominantly by information technology.”

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