In the environment of Industry 4.0, the role of PLM is expanding. The interplay between PLM and Industry 4.0 technologies - like the Internet of Things (IoT), Big Data, Artificial Intelligence (AI), Machine Learning, AR/VR, Model-Based Enterprise (MBE), and 3D Printers - is on the rise. But Industry 4.0 is unlike any previous industrial revolution.…Continue
Added by Vinaksh on August 30, 2021 at 1:30am — No Comments
Time is evolving minute by minute and day-by-day. Currently, at this point there is no need to have a great product or service if you want to satisfy your customer requirements or retain the market.
One of the methods to place…Continue
Added by Bhupinder Kour on August 15, 2021 at 9:30pm — No Comments
If your business is trying to incorporate data analytics into the fabric of day-to-day work, you will need to get your users to adopt analytical tools. The way forward is not all that complicated. The solution you choose must take an augmented analytics approach, one that includes simple search analytics, ala Google search. Natural Language Processing (NLP)…Continue
Added by Kartik Patel on June 17, 2021 at 8:30pm — No Comments
The Corona Virus (COVID-19) has taught us many hard lessons, not the least of which is the importance of being prepared, the importance of anticipating what may be just around the corner, and the importance of being able to theorize, hypothesize and predict. All of these skills are amply supplied by data scientists and analysts. But, in today’s world, it is…Continue
Added by Kartik Patel on May 11, 2021 at 9:00pm — No Comments
Regardless of the industry and size of the business, whatever the vision of a business is for the future, it must necessarily include proper digital transformation to grow rapidly.
Due to the whole pandemic, the way businesses operate drastically changed.…Continue
Added by Bhupinder Kour on May 6, 2021 at 12:12am — No Comments
Today, in the pandemic-affected business atmosphere, the pace at which organizations are advancing has drastically changed. COVID-19 has forced firms to develop a digital plan to enhance the digital transformation shaping customer experience.
Added by Bhupinder Kour on February 15, 2021 at 8:00pm — No Comments
Electronic spreadsheets have been around for nearly 40 years now. They were invented by Bob Frankston and Dan Bricklin, founders of VisiCalc, and I had a chance to chat with both gentlemen a couple of months ago. I highly recommend watching this TED talk with Dan Bricklin:
It's important to understand for…Continue
Added by Rafael Knuth on December 13, 2018 at 2:30am — No Comments
My writing engagement at Data Science Central came up unexpectedly. Back in August 2018, I stumbled upon an excellent write-up on Data Science Central. The author, Bill Vorhies, shared his thoughts on career transitioning toward data science. I wrote him an email, complimenting him on his blog post, and I dropped a few lines about my own transition. Here's his response:
"Congratulations on your remarkable journey. Perhaps you’d like to write one or more articles…Continue
Over the last years, my small business has undergone a digital transformation from a marketing service company to a data literacy consultancy. What does a data literacy consultancy do? We teach business users within large enterprises to work with data, and we help them acquire the necessary skills from state of the art Excel to Python, querying structured, semi-structured and unstructured databases, as well as math, statistics, and probability.
Digital Transformation is exploiting digital technologies and data to enhance the firm’s business model. Unfortunately, a Forbes study says that 84% of the Digital Transformation initiatives fail. There are many reasons for this and one important reason is tied to the way businesses inherently operate. Basically, businesses exist to earn profits and driving profits or margins is…Continue
Added by Prashanth Southekal, PhD on November 12, 2018 at 5:30pm — No Comments
These days many companies have embarked on Digital Transformation. Unfortunately, not many have found good success. A recent study in Forbes, says over 84% of Digital Transformation initiatives in business enterprises fail. While lot of articles talk of Digital Transformation including reasons for the poor failure rate, critical success factors, etc.., here is my take on what is NOT Digital Transformation. Here are the top 5 aspects (based on what I have seen) where the means have taken more…Continue
Many predict, and warn, that the Artificial Intelligence (AI) Revolution will change the world – and possibly the very essence of mankind. But society-changing revolutions are not new. History is full of such revolutions. What can we learn from those previous revolutions that might provide an indication as to how this AI revolution might play out?
We will examine two other revolutions – the Industrial Revolution and the Information Revolution…Continue
Sales Forecasting: Science or Instinct?
Recently, we had talked about marketing automation, a digital transformation in the field that involved both artificial intelligence and machine learning. Even Natural Language Processing (NLP) has come a long way, enough to change the content marketing game. But while marketing has shifted to a digital…Continue
Added by Jay Nair on June 5, 2018 at 5:30pm — No Comments
Technology is known to shift landscapes, even change the game. We saw that when the internet exploded in scale and popularity, as computers became smarter, and the world goes through the digital transformation. An easy example is in traditional marketing, which now borders on the irrelevant, unable to hold a candle to its more modern counterparts.
Added by Jay Nair on May 18, 2018 at 4:30pm — No Comments
Enterprises are learning fast about the relevance and use of AI and Cognitive Computing platforms. Before adopting AI and Cognitive Computing platforms, enterprises must focus on designing the right strategy for their business. A data-driven strategy is very important to derive the maximum benefit from the platform that will help to interpret data and provide…Continue
You can’t get to the “What” and the “Why” by focusing on the “How”
In the gold rush to “monetize” IOT, organizations are frantically installing sensors on everything that moves (and some things that should not move), hoping that someone in the business will figure out a way to get financial value out of the resulting data.…Continue
Added by Bill Schmarzo on October 8, 2017 at 1:00pm — No Comments
Added by Sandeep Raut on April 8, 2017 at 6:30am — No Comments
Added by Sandeep Raut on February 9, 2017 at 6:00pm — No Comments
I recently read an MIT Sloan Management Review article by Clayton Christensen’s recent book titled “The Hard Truth About Business Model Innovations.” While the article is full of great observations about business model transformation, the most important motivation for business model transformation is found at the end:
“..our understanding of the business model journey allows us to see that, over the long term, the greatest innovation risk a company can take is to decide not…Continue
Added by Bill Schmarzo on February 7, 2017 at 4:30am — No Comments
In very simple terms, Business model is how you plan to make money from your business.
A refined version is how you create and deliver value to customers. Your strategy tells you where you want to go and the business model tells you how you are going to do it.
In this time of industry 4.0 with Digital Transformation, businesses are getting disrupted faster than they get established. We all know what Apple did for music, Uber did for taxis and Airbnb did for…
Added by Sandeep Raut on February 4, 2017 at 7:00am — No Comments