By Bill Franks, Aug 13, 2014
Many organizations fall victim to what I’m about to discuss and a fundamental shift in how organizations think about and fund analytics is required to address it. Today, the systems used to facilitate analytics within most organizations are owned by IT, which means that IT owns the budget to purchase and maintain the systems
By Thomas H. Davenport, Aug 07, 2014
More than twenty years ago, consultants Stan Davis and Bill Davidson, in the book 2020 Vision, argued that a company’s “information exhaust” (information byproducts gathered in the course of its normal business) could be used to “informationalize” a business (develop products and services based on information) and turbocharge its performance. Their primary examples of this phenomenon were information companies—Quotron, TV Guide, TRW, and the like. They did argue, however, that any company in any industry had the potential to be informationalized by its data exhaust.
By Mark Dobeck, Jul 30, 2014
US colleges and universities must recognize their critical role in the local business ecosystem by not only understanding but anticipating the future needs and workforce skills that will be in-demand by the local business community. Business Analytics is acquiring an increasingly significant and strategic role in business, particularly in the healthcare field. Effective and accessible educational programs must subsequently be developed to teach and train the next generation of knowledge workers to be proficient in business analytics. Now is the time to evolve in order to develop an accurate and cross disciplinary analytics skillset profile for the healthcare industry.
By Thomas H. Davenport, Jul 22, 2014
There’s been a lot of discussion about the shortage of quantitative analysts and data scientists in this world, and many people wonder where they will all come from. Today I have good news and bad news for you. The good news is that there are a rapidly growing number of educational institutions that are offering courses, concentrations, and degree programs in analytics and big data.
By Bill Franks, Jul 09, 2014
With all of the lawsuits working through the courts and all of the scary possibilities being discussed in the media, it has led some people to assume that big data is inherently evil. Once you believe that big data is evil, a natural response is to try and shut down the collection and analysis of big data to the maximum extent possible. While big data certainly has risks, it would be a classic case of throwing out the baby with the bathwater if the use of big data is shut down.
By Thomas H. Davenport, Jul 07, 2014
The press and blogosphere are full of references to “The Internet of Things” (TIoT) or even “The Internet of Everything.” It’s great to connect inanimate objects to the Internet, of course. But that’s only a first step in terms of doing something useful with all those connected devices. “The Analytics of Things” are just as important, if not more so.
By Robert Handfield, Jun 26, 2014
Many organizations are focused on driving analytics as a foundation for competitive advantage. Often overlooked in this discussion is the importance of establishing a foundation for analytics through the process of data readiness and data cleansing.
By Bill Franks, Jun 17, 2014
Bill Franks, an IIA faculty member and Chief Analytics Officer for Teradata, was recently featured in a webinar discussing approaches to making big data more actionable and profitable by utilizing data visualization tools and strategies. The talk highlighted the important opportunities and level of insight that big data and analytics can provide organizations and shared how visualization tools can better support decision making and lead to discovery of new insights.
By Bill Franks, Jun 11, 2014
Pursuing innovative analytics through a portfolio funding model isn’t about removing accountability or financial discipline. It is about applying accountability and financial discipline in a way that accounts for the realities of the situation. It is also about providing leeway to the analysts tasked with discovery and innovation to truly try new approaches to improving a business through analytics.
By Thomas H. Davenport, Jun 03, 2014
If big data and analytics are the powerful business resource that I think they are, they need someone to champion and oversee their usage in organizations. The problem is that many organizations don’t really have someone in charge of these capabilities. There is in many companies a leadership vacuum for big data and analytics.