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All Blog Posts Tagged '#DigitalTwins' (112)

Data Apps and the Natural Maturation of AI

Figure 1: How Data and Analytics Mastery is Transforming The S&P 500

Artificial Intelligence (AI) has proven its ability to re-invent key business processes, dis-intermediate customer relationships, and transform industry value chains.  We only need to check out the market…

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Added by Bill Schmarzo on May 9, 2021 at 8:30am — No Comments

Unleashing the Business Value of Technology Part 4: Delivering Value

We are now ready to wrap up the four-part series on how technology vendors – especially data and analytic technology vendors (and what technology vendors are not involved in data and analytics nowadays) – can help their customers to “unleash the business value of their technology investments.”

I wrote this four-part series because in my…

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

Unleashing the Business Value of Technology Part 3: Envisioning Value

In part 1 of the 4-part blog series, “Unleashing the Business Value of Technology Part 1: Framing the Challenge”, I introduced the 3 stages of “unleashing business value”:  1) Connecting to Value, 2) Envisioning Value and 3)…

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Added by Bill Schmarzo on April 18, 2021 at 5:30am — No Comments

Orphaned Analytics: The Great Destroyers of Economic Value

I’m overjoyed to announce the release of my latest book “The Economics of Data, Analytics, and Digital Transformation.”  The book takes many of the concepts discussed in this blog to the next level of pragmatic, actionable detail.  Thanks for your support!

I recently read…

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Added by Bill Schmarzo on April 11, 2021 at 11:30am — No Comments

Data Monetization Teenage Sex Conundrum

“Data Monetization.  Data Monetization. Data Monetization.”

Every business executive chants this mantra like it’s a magical incantation for driving an organization’s digital transformation. Heck, it reminds me of the “Shame. Shame. Shame chant from the Game of…

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Added by Bill Schmarzo on April 5, 2021 at 7:30am — 1 Comment

Unleashing the Business Value of Technology Part 2: Connecting to Value

Figure 1: Unleashing the Value of Technology Roadmap

In part 1 of the blog series “…

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Added by Bill Schmarzo on March 29, 2021 at 7:00am — No Comments

Homework Assignment: Create a COVID19 At-Risk Score

Figure 1: The Art of Thinking Like a Data Scientist

I love teaching because the onus is on me to clearly and concisely communicate my concepts to my students.  As I told my students, if I am describing a concept and you don’t…

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Added by Bill Schmarzo on March 24, 2021 at 7:30am — No Comments

Unleashing the Business Value of Technology Part 1: Framing the Challenge

My recent journeys have brought me before both technology vendors and technology customers, and interestingly enough, both are asking the same question:

“How do we unleash the value of our technology investments?”

For technology vendors, more and more of their success is tied to their ability to help their customers unleash the…

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Added by Bill Schmarzo on March 15, 2021 at 4:00pm — No Comments

Data Science 2.0: From Analytic Outputs to Business Outcomes

Figure 1: “Data Science Roadmap 2021” by FreeCodeCamp

The “Data Science Learning Roadmap for 2021” in Figure 1 created by FreeCodeCamp…

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

Digital Transformation Requires Redefining Role of Data Governance

I’m overjoyed to announce the release of my latest book “The Economics of Data, Analytics, and Digital Transformation.”  The book takes many of the concepts discussed in this blog to the next level of pragmatic, actionable detail.  Thanks for your support!

Organizations…

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Added by Bill Schmarzo on February 8, 2021 at 5:00pm — No Comments

Master Machine and Human Learning to Win the Digital Transformation Wars

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…

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Added by Bill Schmarzo on January 18, 2021 at 11:00am — No Comments

Crossing the Analytics Chasm with Nanoeconomics

I love it when a plan comes together” – John (Hannibal) Smith, The A Team

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…

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Added by Bill Schmarzo on January 11, 2021 at 8:30am — No Comments

Ethical AI, Monetizing False Negatives and Growing Total Addressable Market

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 “…

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Added by Bill Schmarzo on January 3, 2021 at 11:30pm — No Comments

Mastering Nanoeconomics in the Era of Digital Transformation

As I state in the opening paragraph of my new book “The Economics of Data, Analytics, and Digital…

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Added by Bill Schmarzo on December 22, 2020 at 4:36pm — No Comments

The Ethical AI Application Pyramid

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…

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Added by Bill Schmarzo on December 19, 2020 at 3:08pm — 4 Comments

Introducing the “4 Stages of Data Monetization”

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…

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Added by Bill Schmarzo on December 7, 2020 at 8:47am — No Comments

If Data Scientist is the Modern-Day Alchemist, Then Why are We Using Leeches to Monetize Data?

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…

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Added by Bill Schmarzo on November 30, 2020 at 8:13am — 2 Comments

Human Decision-making in a Big Data World

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…

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Added by Bill Schmarzo on November 27, 2020 at 12:56pm — No Comments

How Can Your Organization Manage AI Model Biases?

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. 

Chapter…

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Added by Bill Schmarzo on November 22, 2020 at 11:20am — No Comments

Digital Robber Barons and Digital Vertical Integration

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).…

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Added by Bill Schmarzo on November 11, 2020 at 7:05am — No Comments

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