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Leading tomorrow’s enterprise with yesterday’s KPIs is like using a compass instead of a GPS.
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Data is recognized as a business asset, but we lack efficient ways to price it, says MIT professor Munther Dahleh. In this Q&A, he proposes a marketplace that bases the cost of data on the financial value it generates.
To better serve doctors, patients, and the community, clinicians and executives should both have a voice in setting a hospital’s goals.
Join the co-authors of “Using Analytics to Improve Customer Engagement” and special guest Teddy Bekele as they show how analytical innovators are gathering and sharing data to build loyalty and keep customers.
Sports analytics first proved its case on the field and in the front office, but as the practice spreads into business operations, the industry is addressing adoption challenges found in many sectors. At the MIT Sloan Sports Analytics Conference, speakers from teams and leagues discussed how they are using analytics to boost revenue, and how they’re managing transitions in culture and strategy.
Use #MITSMRChat to join MIT SMR on March 1, 2018, at 11 a.m. EST for an interactive Twitter chat on the challenge — and the opportunity — of engaging customers through sophisticated uses of analytics.
Digital titans with access to large quantities of data are a challenge to competition. To maintain a competitive business environment, regulation focusing on both market and data dominance needs to be developed. Among the best tools for limiting companies’ influence: data audits.
According to a 2018 NewVantage Partners survey, executives now see a direct correlation between big data capabilities and AI initiatives. For the first time, large corporations report having direct access to meaningful volumes and sources of data that can feed AI algorithms to produce a range of business benefits from real-time consumer credit approval to new product offers.
The 2018 Data & Analytics Global Executive Study and Research Report by MIT Sloan Management Review finds that innovative, analytically mature organizations make use of data from multiple sources: customers, vendors, regulators, and even competitors. The report, based on MIT SMR’s eighth annual data and analytics global survey of over 1,900 business executives, managers, and analytics professionals, explores companies leading the way with analytics and customer engagement.
An infographic based on the 2018 Data & Analytics Report by MIT Sloan Management Review illustrates how companies can better engage with customers using analytics.
Data has become a key input for driving growth, enabling businesses to maintain a competitive edge. Given the growing importance of data to companies, how should managers measure its value? An increasing number of institutions, academics, and business leaders have begun tackling the valuation problem to help organizations realize more value from their data.
Composing valuable strategies requires seeing the world in new and unique ways. It requires asking novel questions that prompt fresh insight. Even the most sophisticated, deep learning-enhanced computers or algorithms simply cannot generate such an outlook. Innovative strategies depend more on novel, well-reasoned theories than on well-crunched numbers.
Just when you have your data collection and analysis systems in place, technology changes mean that your company needs new, updated systems. This is a problem for many companies — but it can also be an opportunity. Organizations that work with data from old and new equipment can learn more about the shortcomings that modern techniques have in this context and can gain advantage in developing tools that no one else has.
The successful use of analytics in sports, both on the field and off, comes down to integrating analytics within an organization. Three strategies — collaborative analytics, a common language, and accessible technology — are key.
Until companies start to invest seriously in security, internet-enabled devices will offer far better ROI for thieves than for the companies seeking to build IoT capacity. But the benefits ultimately will make the effort worthwhile.
Watch a free, on-demand webinar with MIT research scientist Matthias Winkenbach on how interactive visualization and augmented reality technology will change the way we access, understand, and utilize complex systems and logistics data.
With tough new EU regulations on data security coming in 2018, global companies will soon be faced with a choice: Protect consumers’ data and reap the rewards of having access to it, or face the competitive consequences of consumer distrust. But companies caught unprepared for the change may lose the privilege of keeping consumers’ data altogether.
Many managers are excited about smart machines but are struggling to apply machines’ limited intelligence. Indeed, computers can process data just fine, but to generate competitive advantage from machine learning applications, organizations must upgrade their employees’ skills. Companies will also need to redesign employee accountabilities to empower and motivate them to deploy smart machines when doing so will enhance outcomes.
Organizations have made rapid gains in their ability to generate big data sets, but the ability of managers and executives to develop insights from that data has lagged behind. Data processing by artificial intelligence offers the prospect of speeding things up — but it also risks expanding the gap, as managers lack understanding of how AI reaches its data-based conclusions.
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