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All Blog Posts Tagged '#DataScience' (188)

Mastering the Data Economic Multiplier Effect and Marginal Propensity to Reuse

Note: this blog introduces the concept of the Marginal Propensity to Reuse which is the primary driver behind the Data Economic Multiplier Effect and the Schmarzo Economic Digital Asset Valuation Theorem.  The Marginal Propensity to Reuse states that an increase in the reuse of a data set across…

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Added by Bill Schmarzo on October 27, 2021 at 10:30am — No Comments

Reframing the CXO Conversation:  From “Data Monetization” to “Value Creation”

As data becomes the ubiquitous source of economic value creation, organizations need an end-to-end “data-driven value creation lifecycle” that speaks to and aligns the business executives and the data and analytics teams around the CEO business mandate to unleash the business (or economic) value of the organization’s vast data reserves.  The…

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Added by Bill Schmarzo on October 22, 2021 at 7:30am — No Comments

Features Part 3:  Features as Economic Assets

One of the follow up topics from my original blog “Feature 01 – Are Features the new Data?” was defining what makes something an Asset and how does that definition map to how we manage and value Features.  But first,…

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Added by Bill Schmarzo on October 19, 2021 at 2:30pm — No Comments

The Power of Determining User Intent

In the digital marketing industry, companies have a fraction of a second to determine a visitor’s intent when they visit a site – that is, what is the visitor trying to accomplish – to guide decisions about 1) what to bid on that visitor (real-time bidding for the right to show them an ad), 2) what ad to show them, and 3) where to place that ad on the…

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Added by Bill Schmarzo on October 11, 2021 at 2:00pm — No Comments

Features Part 1: Are Features the New Data?

In my prior blog “Reframing Data Management: Data Management 2.0”, I talked about the importance of transforming data management into a business strategy that supports the sharing, re-using and continuous refinement…

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Added by Bill Schmarzo on October 4, 2021 at 4:14pm — 8 Comments

Features Part 2: Clarifying the Data-Features-Use Case Value Topology

Note:  Many thanks to those who provided comments on my previous blog “Features Part 1: Are Features the new Data?”. And special thanks to Somil Gupta and Harsha…

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Added by Bill Schmarzo on October 4, 2021 at 9:30am — 2 Comments

Future Proofing Your Career

I am very fortunate that I get asked to present at several universities about what students (and all professionals) can do to “future proof” their careers. We live in a world of constant change driven by technology, economics, pandemics, environmental, political, and society forces. We live in a world where we need to build “transformational muscle”…

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Added by Bill Schmarzo on September 28, 2021 at 7:30am — No Comments

4 Ways of Monetization Your Data

Ugh.  “Data Monetization” … a term that seems to confuse so many folks (probably thanks to me).  When most folks hear the phrase “data monetization”, they immediately think of “selling” their data.  And while there are some situations in which some organizations can successfully sell their data, there are actually more powerful, more common, and less…

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Added by Bill Schmarzo on September 12, 2021 at 5:30am — No Comments

Reframing Data Management:  Data Management 2.0

A cartoon making its way around social media asks the provocative question “Who wants clean data?” (Everyone raises their hands) and then asks, “Who wants to CLEAN the data?” (Nobody raises their hands).  I took the cartoon one step further (apology for my artistic skills) and asked, “Who wants to PAY for clean data?” and shows everyone running for…

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Added by Bill Schmarzo on September 5, 2021 at 12:00pm — 13 Comments

The Growing Importance of Data and AI Literacy – Part 2

This is the second part of a 2-part series on the growing importance of teaching Data and AI literacy to our students.  This will be included in a module I am teaching at Menlo College but wanted to share the blog to help validate the content before presenting to my students.

In…

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Added by Bill Schmarzo on August 22, 2021 at 2:30pm — No Comments

The Growing Importance of Data and AI Literacy – Part 1

This is the first part of a 2-part series on the growing importance of teaching Data and AI literacy to our students.  This will be included in a module I am teaching at Menlo College but wanted to share the blog to help validate the content before presenting to my students.

Wow, what an interesting dilemma. Apple plans to…

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Added by Bill Schmarzo on August 16, 2021 at 5:30am — No Comments

Curiosity and Inquisitive Mindset: Keys to Data Science – and Life – Success

In July 2014, Malaysia Airlines Flight 17 (MH17), a passenger flight from Amsterdam to Kuala Lumpur, was shot down over eastern Ukraine. Over the next four years, Bellingcat – an independent international collective of researchers, investigators, and citizen journalists – combined open source and social media data with an inquisitive and curious…

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Added by Bill Schmarzo on August 9, 2021 at 7:30am — No Comments

Do we need AutoML… or AutoDM (Automated Data Management)?

Instead of focusing on “Automated Machine Learning” or AutoML, maybe we should focus on “Automated Data Management” or AutoDM?

You probably know that feeling. You start a blog with some ideas to share, but everything changes once you get started. That’s what happened with this blog.  I discussed the promise and potential of…

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Added by Bill Schmarzo on August 2, 2021 at 7:30am — No Comments

Analytics Maturity: from Descriptive to Autonomous Analytics

In Chapter 8 of my new book “The Economics of Data, Analytics, and Digitalization Transformation”, I discuss the 8 Laws of Digital Transformation.  My goal for chapter 8 was to push folks out of their comfort zones, especially with respect to how they are defining Digital Transformation success. Why?…

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Added by Bill Schmarzo on July 26, 2021 at 9:00am — No Comments

Doing Python Math Operations With Numpy (Part III)

In my previous post, I explored how to use Pandas to work with data frames and similar structures. In this post, I want to go to the next level and discuss the magical operations available with…

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Added by Shanthababu P on July 24, 2021 at 11:00am — 1 Comment

It’s Insights Monetization, Not Data Monetization

Okay, this is on me.  I own it.  My blog “Why Data Monetization is a Waste of Time” created quite a stir.  I loved it.  I’d like to take this “data monetization” conversation one step further:

Most organizations should not be…

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Added by Bill Schmarzo on July 23, 2021 at 3:00pm — No Comments

How Design Thinking Bookends Data Science

Hallelujah brother, I’ve seen the light!

I’m a HUGE believer in the liberating mindset of Design Thinking. For example, Design Thinking not only makes Data Science more effectively, but it helps avoid the devastating unintended consequences of an AI capability that can continuously-learn and adapt at speeds exponentially…

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Added by Bill Schmarzo on July 22, 2021 at 6:00am — No Comments

Defining “Value” – the Key to AI Success

I recently conducted a 3-day, remote “Data Monetization: Thinking Like a Data Scientist” workshop for a transportation agency in the Middle East.  Doing this training remotely is a personal challenge as I miss the face-to-face interaction in ideating, validating, and prioritizing the business areas that can benefit from data and analytics.  However,…

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Added by Bill Schmarzo on July 5, 2021 at 12:00pm — No Comments

Costs of Being an Analytics Laggard…And Path to Becoming a Leader

How much money is your organization leaving on the table by not being more effective at leveraging data and analytics to power your business?

This question is becoming more and more relevant for all organizations of all sizes in all industries as AI / ML capabilities become more widely available.  And nothing highlights the…

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Added by Bill Schmarzo on June 28, 2021 at 8:30am — No Comments

Why Data Monetization is a Waste for Most Companies

Here, let’s start this blog with some controversy:

“For most organizations, data monetization is a total waste of time”

I've been having lots of conversations recently about where the Data and Analytics organization should report.  Good anecdotal insights, but I wanted to complement those conversations with some raw data.  So, I…

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Added by Bill Schmarzo on June 20, 2021 at 1:30pm — 2 Comments

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