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All Blog Posts Tagged '#DataMonetization' (74)

Critical Thinking and Becoming “Students of Data Science”

Social media and internet search scare me because it is so easy to acquire information without also acquiring the associated knowledge. It’s easy to find almost any information via search or social media, but an effective “student of data scientist” (as well as any effective future leader) must learn to discern easily acquired information with a sense of skepticism. To quote the character Dr. Ian Malcolm (played skillfully by Jeffrey Goldblum) in the movie “Jurassic Park:”…

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Added by Bill Schmarzo on October 20, 2018 at 12:29pm — No Comments

Embracing Conflict to Fuel Digital Innovation

When talking to clients about their business goals, most business executives are pretty clear as to what they want to accomplish, such as reducing customer churn or reducing inventory costs or improving quality of care or improving product line profitability.  But these “one dimensional” business initiatives really don’t push the organization’s innovative thinking.  For example, I can easily reduce marketing costs if I significantly reduce advertising and…

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Added by Bill Schmarzo on October 20, 2018 at 4:03am — No Comments

Embracing Conflict to Fuel Digital Innovation

When talking to clients about their business goals, most business executives are pretty clear as to what they want to accomplish, such as reducing customer churn or reducing inventory costs or improving quality of care or improving product line profitability.  But these “one dimensional” business initiatives really don’t push the organization’s innovative thinking.  For example, I can easily reduce marketing costs if I significantly reduce advertising and…

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Added by Bill Schmarzo on September 12, 2018 at 4:21am — No Comments

Why Accept the Hype? Time to Transform How We Approach Emerging Technology

It’s like a rite of passage – a new technology pops onto the scene and the “pundits,” analysts and venture capitalists (among others) immediately start to over-hype the technology:

It’ll stop world hunger

It’ll cure cancer

It’ll end poverty

It’ll help the Cubs win the World Series (okay, that one was true)

And the ultimate result? The technology is forced to traverse the infamous Gartner Hype Cycle, soaring to the Peak of…

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Added by Bill Schmarzo on September 7, 2018 at 5:10am — No Comments

A Winning Game Plan For Building Your Data Science Team

One of the most exciting challenges I have at Hitachi as the Vice-Chairmen of Hitachi’s “Data Science 部会” is to help lead the development of Hitachi’s data science capabilities. We have a target number of people who we want trained and operational by 2020, so there is definitely a sense of urgency. And I like urgency because it’s required to sweep aside the inhibitors and resistors to change.

I started this assignment with a blog titled “…

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Added by Bill Schmarzo on August 31, 2018 at 7:30pm — No Comments

Prioritization Matrix:  Aligning Business and IT On The Big Data Journey

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…

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Added by Bill Schmarzo on August 22, 2018 at 8:51am — No Comments

Why Digital Transformation Is So Dang Hard?

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 “…

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Added by Bill Schmarzo on August 9, 2018 at 6:00am — No Comments

It's Not Digital Transformation; It’s “Intelligence Transformation” We Seek

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…

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Added by Bill Schmarzo on July 30, 2018 at 3:47pm — No Comments

Using Design to Drive Business Outcomes, or Uncovering What You Don’t Know That You Already Know

Okay, that may be the most complicated title that I’ve ever read, but here’s the point of that title:  Most people don’t know what they already know.  Maybe spun another way, is that people don’t realize how much they really know, that much of what they really know is buried behind general rules, rules of thumbs and simple heuristics.  But those heuristics get in the way of one’s real knowledge.  And that’s the real secret to effective…

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Added by Bill Schmarzo on July 24, 2018 at 9:54am — 1 Comment

Digital Transformation Law #6: It’s About Monetizing the Pain

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”:

  • Law #1: It’s About Business Models, Not Just the Business. Digital Transformation is about innovating…
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Added by Bill Schmarzo on July 11, 2018 at 9:02am — No Comments

The Death of “Big Bang” IT Projects

Why is it so hard to change, especially from a business perspective? Why is it so hard to understand that new technology capabilities can enable new technology approaches?  And nowhere is that more evident than in how companies are trying (and failing) to apply the old school “Big Bang” approach to Big Data Analytic projects. 

The “Big Bang” approach likely comes from how businesses have historically gained competitive advantage – through…

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Added by Bill Schmarzo on June 29, 2018 at 5:00am — No Comments

5 Questions that Define Your Digital Transformation

I had the opportunity in 2017 to give a 10-minute keynote at DataWorks Summit 2017.  I know what most of you are thinking: Schmarzo can barely introduce himself in 10 minutes! What sort of keynote could he give in just 10 minutes?  And to be honest, I too struggled with what to say.

But after some brainstorming, I decided to pose 5 questions that every organization needs to consider as they prepare themselves for digital transformation.  And…

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Added by Bill Schmarzo on June 28, 2018 at 4:30am — No Comments

Crossing the Big Data / Data Science Analytics Chasm

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,…

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Added by Bill Schmarzo on June 26, 2018 at 6:00am — 2 Comments

Tomorrow’s Digital Transformation Battles Will Be Fought at the Edge

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.”[1]

More real-time sensor and…

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Added by Bill Schmarzo on June 20, 2018 at 1:30pm — No Comments

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