Are You Ready for Robo-Advice?

By Thomas H. Davenport, Mar 24, 2015

For several decades we have assumed that the best financial planning and wealth management advice came from smart human advisors. Over the last decade or so, those smart humans were augmented with computer systems that make recommendations on the optimal portfolio given a certain risk profile and wealth level.

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Winter Analytics Symposium Session 4B: Measuring and Communicating Analytics Progress

By IIA Faculty, Mar 17, 2015

Available to ERS Clients only

Most financial assessments of analytics initiatives are project-based, because overall performance can be quite difficult to evaluate. Among participants, ROI measurements for analytics projects more commonly explore the future value of analytics projects, but firms less frequently perform look-backs to evaluate how past projects performed.

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Make the case for automating and embedding analytic; take analytics out of the back room and get it in sync with the rest of the business. Successful firms are able to turn high-frequency actions into automated tasks, navigating culture shifts along the way.

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Winter Analytics Symposium Session 2B: Boosting Analytics with Big Data

By IIA Faculty, Mar 17, 2015

Available to ERS Clients only

Big Data can provide a big boost, but at a cost. Organizations have found that their executives are energized by the idea and potential of big data. However, focusing on big data can be a distraction when other “small data” analytics opportunities are more promising and analytics demand outpaces supply.

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Analytics 3.0 brings together big data and small data and integrates it in a seamless fashion. Can 3.0 Work in Healthcare? Absolutely. Healthcare organizations are increasingly using data to make decisions; decisions that can be made quickly and can scale as scope increases exponentially. Analytics is no longer just for internal decision support; there are data and analytics-enabled products and services that are quickly emerging.

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Can the Automation Tidal Wave Be Resisted?

By Thomas H. Davenport, Mar 10, 2015

In this column I am not going to dwell on whether automation will replace jobs forever, or on what kinds of jobs are most likely to be replaced. My focus is rather on what—if anything—can be done about it, assuming that the trend is more or less true and a valid cause for concern.

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What’s Your End State Vision for the Internet of Things?

By Thomas H. Davenport, Feb 17, 2015

Visions evolve over time, and are never implemented quite as envisioned. But the IoT course is long and complex enough so that it can’t be accomplished without a vision. To contradict Alice of “Looking Glass” fame and George Harrison, if you don’t know where you’re going, any road will not take you there.

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Data Offense and Defense

By Thomas H. Davenport, Jan 28, 2015

I am a New England Patriots fan, and with the team facing off against the Seattle Seahawks in the big game this Sunday, I’d like to touch on the subject of offense and defense.

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Making Sense of the Third-Party Data Economy

By Thomas H. Davenport, Jan 13, 2015

When I think of the data economy, I usually focus on either online firms like Google and LinkedIn, or large, established companies like GE and Monsanto that have invested in data and analytics-based products and services for their customers. These companies use their own data to develop their own products and services. But there are certain advantages from having third parties do this sort of work for you. They can provide independence, scale, and processes that are solely focused on helping to monetize your data.

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What Business Leaders Can Learn From Intelligence

By Thomas H. Davenport, Dec 16, 2014

There is little doubt that the intelligence sector in the US - including the Central Intelligence Agency or CIA, National Security Agency or NSA, parts of the Federal Bureau of Investigation or FBI, Homeland Security, and many other agencies - and elsewhere is quite accomplished at several aspects of data management and analytics. It’s also clear that businesses can learn from these organizations in several respects. Below are a few lessons from which business leaders could draw.

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