One key challenge to a successful Big Data journey is gaining consensus and alignment between the business and IT stakeholders in identifying the initial big data business use cases that 1) deliver sufficient value to the business, while 2) possessing a high probability of success. One can find multiple business use cases where big data and advanced analytics can deliver compelling business value. However, many of these use cases have a low probability of…Continue
Added by Bill Schmarzo on August 22, 2018 at 8:51am — No Comments
“Tomorrow’s market winners will win with the smartest products. It’s not enough to just build insanely great products; winners must have the smartest products!” – Bill Schmarzo
Okay, that’s a pretty bold statement on my part (especially to challenge the famous Steve Jobs statement about building insanely great products), but then again I’m an analytics dude and think that analytics should be a part of every product and space – smart cities, smart cars, smart…Continue
Added by Bill Schmarzo on August 22, 2018 at 8:12am — No Comments
Reviving from the dead an old but popular blog on Understanding Type I and Type II Errors
I recently got an inquiry that asked me to clarify the difference between type I and type II errors when doing statistical testing. Let me use this blog to clarify the difference as well as discuss the potential cost ramifications of type I and type II errors. I have also provided some examples at the end of the blog.
In statistical test theory, the…Continue
I recently talked to Clint Boulton, author of “Why digital transformations are lagging” about why Digital Transformation is so hard. His article raises lots of interesting points about the inhibitors of Digital Transformation, so I thought I’d share my thoughts about how to overcome some of these challenges.
Forrester published a report entitled “…Continue
Added by Bill Schmarzo on August 9, 2018 at 6:00am — No Comments
On the surface, preventing injuries to professional-caliber athletes would seem to have little in common with preventing operational failures for a machine (i.e., autonomous vehicle, locomotive, airplane, CT Scan). However, both athletes and machines deal with inter-twined complex systems (where the interactions of one complex system can have a ripple effect on others) that can have significant impact on their operational effectiveness.
My son Max, the Director of…Continue
Added by Bill Schmarzo on August 6, 2018 at 11:19am — No Comments
My blog “Blockchain + Analytics: Enabling Smart IOT” drew some great feedback asking me to clarify my autonomous vehicle example that used blockchain as a means of near real-time, peer-to-peer communications between clusters of intelligent devices and machines. But first, some background.
Edge analytics within an Internet of Things (IOT) world is very…Continue
Added by Bill Schmarzo on August 4, 2018 at 6:08am — No Comments
Forrester published a report titled “The Sorry State of Digital Transformation in 2018” (love the brashness of the title) that found that 21% of 1,559 business and IT decision makers consider their digital transformations complete. Complete? Say what?!
The concept of “Digital Transformation” is confusing because many CIO’s (at least 21%) and their…Continue
Updated from original posted on April 17, 2014
The importance of metadata only continues to grow as organizations are realizing that to fully exploit the business and operational potential of machine learning, deep learning and artificial intelligence requires that the raw data be enhanced with metadata. And while we have growing volumes of actual data, there is even more data, or metadata, around the usage and source of the actual data.
Added by Bill Schmarzo on July 23, 2018 at 4:30am — No Comments
Autonomous cars are racing down the highway at speeds exceeding 100 MPH when suddenly a car a half-mile ahead blows out a tire sending dangerous debris across 3 lanes of traffic. Instead of relying upon sending this urgent, time-critical distress information to the world via the cloud, the cars on that particular section of the highway use peer-to-peer, immutable communications to inform all vehicles in the area of the danger so that they can slow down and move to unobstructed…Continue
Will I ever get this digital transformation thing right? The more work I do with clients on their digital transformation initiatives, the more I realize how much I don’t know. For example, first there was the “4 Laws of Digital Transformation”:
Added by Bill Schmarzo on July 11, 2018 at 9:02am — No Comments
What is the Intelligence Revolution equivalent to the 1/4” bolt?
I asked this question in the blog “How History Can Prepare Us for Upcoming AI Revolution?” when trying to understand what history can teach us about technology-induced revolutions. One of the key capabilities of the Industrial and Information revolutions was…Continue
Added by Bill Schmarzo on July 5, 2018 at 6:54am — No Comments
To be actionable, Big Data and Data Science must get down to the level of the individual - whether the individual is a customer, physician, patient, teacher, student, coach, athlete, technician, mechanic or engineer. This is the “Power of One.” By applying data science to the growing wealth of human purchase, interaction and social engagement data, organizations can capture individual’s tendencies, propensities, inclinations, behaviors, patterns, associations, interests, passions,…Continue
Added by Bill Schmarzo on June 30, 2018 at 5:31am — No Comments
In an attempt to put the patient first in healthcare, Congress and President Obama in 2015 approved a bipartisan bill for United States healthcare reform. The bill is known as “Medicare Access and CHIP Reauthorization Act of 2015”, or MACRA. Among the major provisions of MACRA is the Quality Payment Program. Under the Quality Payment Program, physicians, and nurses receive positive, neutral, or negative Medicare payment adjustments based upon a…Continue
The key of any organization’s digital transformation is becoming more effective at leveraging data and analytics to power their business models. That is, how can organizations exploit the growing bounty of internal and external data sources to uncover new sources of customer, product, service, operational and market insights that they can use to optimize key business and operational processes, mitigate compliance and cybersecurity risks, uncover new monetization opportunities,…Continue
Gartner’s recently released “Magic Quadrant for Industrial IoT Platforms” outlines how organizations can leverage the Internet of Things (IoT) to drive their digital transformation initiatives. In particular, Gartner believes that “By 2020, on-premises Internet of Things (IoT) platforms coupled with edge computing will account for up to 60% of industrial IoT (IIoT) analytics, up from less than 10% today.”
More real-time sensor and…Continue
Added by Bill Schmarzo on June 20, 2018 at 1:30pm — No Comments
We recently set-out to build a massive list of AI companies from around the world. This was a dataset that included companies with just seed funding all the way to the likes of Amazon and Google.
The information we put together included:
Company Information: address & phone number
Products/Services offered: description of each product or service
Added by Utsav on June 12, 2017 at 5:30pm — No Comments
As the current wave of Artificial Intelligence apps continue to gain routine use, do we really trust them?
If not, here's a way of improving trust. Write the apps in Executable English , so that they can explain their results and actions at the end user level.
What other approaches are there?
Added by Adrian Walker on September 29, 2016 at 11:30am — No Comments