Now what does ‘Big Data’ have to do with all this? A ton actually."
"The start of a bad joke goes like this: What do Kevin Spacey, Politics, Netflix, and Big Data all have in common? Yeah well they actually do have a lot in common. They are more than anything extremely addictive. I haven’t met anyone yet (I know I am about to eat my words) that hasn’t either liked or even more often found themselves obsessively staying up until all hours of the night unable to sleep knowing there is another episode to watch. The show “House of Cards” was so successful that even arguably the busiest man in the United States, president Barrack Obama had something to say when it came to the show.
Now what does ‘Big Data’ have to do with all this? A ton actually."
"Here are six reasons organizations are taking the wrong approach to big data or not utilizing it at all.
These days, it's not hard to find surveys, polls, and reports saying that "most" organizations are embracing big data. For instance, as Matt Asay on ReadWriteWeb writes..."
"How two companies are analyzing data to rethink their product design and find more sustainable business models.
Ford Motor Company has taken the "heavy" out of its best-selling F-150 heavy-duty truck, with the help of big data and climate change models. The auto giant has redesigned its 2015 model to be 700lbs lighter using aluminum alloy components similar to military and aerospace materials. The new version, unveiled at the Detroit Auto Show last month, also adds a 2.7-liter EcoBoost V6 engine option with start-stop technology to further reduce fuel usage.
The new F-150 is one result of unique teamwork between Ford's sustainability strategy and core research groups, said John Viera, Ford's global director of sustainability and vehicle environmental matters."
"Financial institutions track a myriad of data points. But an individual data source seldom paints a full picture. Bringing tracking platforms together can yield powerful insights that financial marketers can leverage for maximum precision when targeting consumers."
"In the brave new world of business analytics fueled by big data, there has been significant discussion about the evolving roles of C-suite executives, including the CEO, CTO, and CIO. That discussion is now expanding to include the CMO (Chief Marketing Officer) plus the new roles of CDO (Chief Data Officer) and CDS (Chief Data Scientist). I do not have an MBA and I usually don’t undertake risky behavior, such as telling a CEO how to run her or his business. However, it is entirely appropriate for the CMO, CDO, and CDS to step up to the challenges of leading and directing the analytics, big data, and data science efforts of their organization, respectively. It is also appropriate (and should be in the job description) for these execs to stand firm against corporate cultures and naysayers that resist big data analytics projects with these types of remarks: a) “Let’s wait and see how it develops elsewhere”; b) “We have always done big data”; or c) “What’s the ROI? Show me the numbers.”
I want to examine here the concept of leadership analytics. This differs from analytics leadership (which focuses on the characteristics of the leader) by focusing on the characteristics of the leader’s performance (specifically, project performance under the leader’s direction). Similar to developments in the emerging fields of HR analytics and talent analytics that use big data and data science methods (with quantifiable metrics) to identify, hire, engage, and reward good employees, it is also reasonable to apply the same quantifiable methodology to project leadership performance: that’s leadership analytics."
A recently released report reveals "a stark disconnect" between the understanding by executives of the value of big-data analytics and their grasp of where to start on big-data projects in their organizations.
A survey of 144 CFOs and CIOs at multinational corporations with annual revenues north of $1 billion, conducted by KPMG Capital and released in January, reveals that while 99 percent of executives surveyed understand that what KPMG calls "data and analytics" (D&A) is important to their businesses, 75 percent "find it difficult to make decisions around D&A."
"The challenge for today’s executive is understanding how to draw actionable [sic] insights from data and turn them into tangible, genuine results,” said Mark Toon, CEO of KPMG Capital in a press release. His group is a new division of the global auditing, tax, and business advisory services giant KPMG International, which was created in November specifically to go after the D&A market.
Given that the survey reveals that 85 percent of executives who responded said they struggle to analyze and interpret their data to make business decisions, "business leaders need better tools and processes to uncover valuable business insights," Toon said.
"More than 2,000 Tesco.com customer accounts have been hacked and their details posted online in order to steal store vouchers, according to the BBC. Tesco told the BBC is it "urgently investigating" the data breach, which has caused Tesco to deactivate some of the accounts.
It is believed the list was compiled by hackers who combed through data stolen in other high-profile security breaches, where users' password and email combinations were tried on Tesco.com. The BBC reported that 2,239 hits were correct."
"If you want to choose one sure-fire tactic to see your business fail, it’s to ignore the internet when it comes to finding customers. The internet is now defined as “big data” – the information contained within it is now simply too massive for anyone to readily comprehend or analyze.
The internet first became available for consumers in the late 1980s, although it wasn’t until the mid 1990s that it became realistic for “normal folk” to have access to it. By the end of 1995, it was estimated that there were around 16 million people across the world with internet access. By the middle of 2012, that figure had increased well over over one hundred-fold, to 2.4 billion, which is a third of the world’s population. Recent figures show that online penetration has reached 80 percent, meaning that four out of every five adults can access the internet in one form or another."
"Using data mining techniques, two brothers, Dan and Tim Graettinger, think they have built a statistical model that will accurately forecast who will win the most medals in Sochi.
Since the 2010 winter games in Vancouver, the Graettinger brothers, one of whom is a data analyst, collected more than 30 datasets and ran multiple regressions until they found a match. That is, a model that matched the last two Olympics with surprising accuracy (within three medals for 80% of the 2006 and 2010 Winter Olympics competitors). The predictions are as follows:.."
"TO HELP MAKE SENSE OF THE MASSIVE TROVES OF DATA PRODUCED BY PEOPLE CLICKING AROUND ITS WEBSITE, THE TIMES MADE A (VERY) NON-TRADITIONAL HIRE--CHRIS WIGGINS, A BIOLOGY RESEARCHER WITH A PHD IN THEORETICAL PHYSICS. IF YOU CAN MAP THE HUMAN GENOME, MAYBE YOU CAN EVEN FIX JOURNALISM."
Thousands of the most influential business articles on analytics, including our own published Thought Leadership articles - all fully searchable back to 2013 and updated almost every day.
Search by keyword (using box below) or by category or date. Get them delivered to your inbox by subscribing to our RSS feed below.