The “Economies of Learning” are more powerful than the “Economies of Scale”
This may be my most powerful concept (outside of the Schmarzo Economic Digital Asset Valuation Theorem and the…Continue
Added by Bill Schmarzo on January 18, 2021 at 11:00am — No Comments
One of the biggest challenges that I continue to see are organizations struggling to cross the Analytics Chasm; to transition their use of data and analytics from retrospective Business Intelligence that monitors what has happened to AI/ML-driven…Continue
Added by Bill Schmarzo on January 11, 2021 at 8:30am — No Comments
What if I told you that companies that don’t embrace Ethical AI are leaving significant amounts of “Money on the Table”; that they are not only missing out on potentially profitable customers, but that over time they are eroding their Total Addressable Market (TAM)? Do I have your attention now?
After I published the blog “…Continue
Added by Bill Schmarzo on January 3, 2021 at 11:30pm — No Comments
As I state in the opening paragraph of my new book “The Economics of Data, Analytics, and Digital…Continue
Added by Bill Schmarzo on December 22, 2020 at 4:36pm — No Comments
In the blog “How Can Your Organization Manage AI Model Biases?”, I wrote:
“In a world more and more driven by AI models, Data Scientists cannot effectively ascertain on their own the costs associated with the unintended consequences of False Positives and False Negatives. Mitigating unintended consequences requires the collaboration across a diverse set of stakeholders in…Continue
Ah, the fond memories of the early days of Saturday Night Live and the hilarious “Point / Counterpoint” debates between Jane Curtin and Dan Aykroyd. I can just imagine this routine being played out today over the value of data…
Jane Curtin: “Dan, you ignoramus. Everyone knows that data is the new oil; that data will power the economic growth of the 21st century. Heck, The Economist even declared…Continue
Added by Bill Schmarzo on December 7, 2020 at 8:47am — No Comments
Okay, I'm as mad as hell, and I'm not going to take this anymore! If data scientists are the modern-day alchemist who turn data into gold, then why are so many companies using leeches to monetize their data?
When I talk to companies about the concept of a “Chief Data Monetization Officer” role, many of them look at me like I…Continue
This blog was originally written in 2012, and am republishing it because with the increased use of black box AI / ML models to power key operational decisions, these human decision-making traps need to be thoroughly and holistically addressed during the analytics definition stage to avoid the dangers of unintended consequences.
Organizations are looking to integrate big data and advanced analytics into their business operations in order to become more…Continue
Added by Bill Schmarzo on November 27, 2020 at 12:56pm — No Comments
I’ve been reading the interesting and soul-searching (from a data scientist perspective) book from Cathy O’Neil titled “Weapons of Math Destruction”, or WMD as used in the book. The book provides several real-world examples of how Big Data and Data Science – when not properly structured – can lead to ethically-wrong unintended consequences.
Added by Bill Schmarzo on November 22, 2020 at 11:20am — No Comments
I love talking about business models because in the end, it’s usually the best business model, not the best technology, that wins the day. And digital transformation has the potential to reinvent business models by leveraging superior customer, product and operational insights to disrupt industry value chains and disintermediate customer relationships (see Figure 1).…Continue
Added by Bill Schmarzo on November 11, 2020 at 7:05am — No Comments
One of the industry’s great debates (bigger than regular Cap’n Crunch versus Cap’n Crunch with Crunchberries) is “What is Digital Transformation?” Here’s my take:
Digital Transformation is the fundamental reinvention of an organization’s business model by synergizing advanced analytics (composable, reusable analytic…Continue
Added by Bill Schmarzo on November 4, 2020 at 12:11pm — No Comments
A number of my mid-sized European clients recently have asked me to help them scope and recruit for the role of Chief Data Scientist (also scoped as ‘Head of Data Science’, ‘Lead Data Scientist’, ‘Head of Analytics’, etc.).
This lead data science role is typically opened by the client company for one of two…Continue
Added by David Stephenson on November 12, 2016 at 1:00am — No Comments