The advantages of analytics to customer service have already been shown. Now the question becomes: How can analytics be used to improve security?
Organizations are collecting more and more data. And while rich data allows personalized service, detailed data about real people (rightly) often raises concerns. Just as this data is increasingly valuable to organizations, it can be valuable to criminals as well, leading to an ever-escalating series of data breaches. Data analytics exacerbates trade-offs between security and service; the analytical processes on data can, at a minimum, raise privacy concerns for individuals because much of marketing analytics tries to learn as much as possible about potential customers. These analytics processes are becoming increasingly powerful at de-anonymizing people from their trace data.Read More
What will life be like when we have an Internet of Things?
It could mean that connected objects do a better job finding you parking places, taking care of your health, and coordinating your deliveries. It could almost be like having a personal valet.
Here are seven ways the IoT is interacting with individuals as consumers — in ways good, bad, and ugly:Read More
The careers of superstar CEOs Bill Gates, Andy Grove, and Steve Jobs offer important lessons about how to become a better strategist.
Many discussions of strategy revolve around companies. But what about the people who develop corporate strategies? How can executives develop their skills as strategists?
There’s no better way than to learn from the masters. That’s the idea behind a recent book by David B. Yoffie, the Max and Doris Starr Professor of International Business Administration at Harvard Business School, and Michael A. Cusumano, the Sloan Management Review Distinguished Professor of Management at the MIT Sloan School of Management. Both men are experts in business strategy — they’ve been teaching the subject for nearly 30 years at Harvard and MIT, respectively. What’s more, Yoffie and Cusumano have studied or worked closely with some of the world’s leading technology executives. In their book, Strategy Rules: Five Timeless Lessons From Bill Gates, Andy Grove, and Steve Jobs (HarperCollins, 2015), Yoffie and Cusumano explore strategy insights drawn from the careers of the former CEOs of Microsoft Corp., Intel Corp., and Apple Inc.Read More
Cities are complex and dense structures in which the large majority of humans live and work. The pace of urbanization globally has accelerated over recent decades putting pressure on infrastructure, social and economic structures, as well as on the environment.
The compact and constrained nature of cities intrinsically hampers mobility, physical expansion, the availability of resources and provisioning, economic activities planning and interconnectivity, urban planning and last, but not least, the cleanliness of the environment.Read More
We asked respondents from our 2017 report on digital business, “Achieving Digital Maturity,” to indicate what factors managers needed to lead in a digital age. What was striking was that the most common responses didn’t involve technical skills or deep digital knowledge. Instead, they centered around the need for experimentation, taking risks, and challenging the status quo. Respondents indicated that figuring out how to manage organizational factors and expectations was more important and more difficult than selecting the best technology solutions.Read More
Changing from a traditional to a digital business model altered Marriott’s culture in unexpected ways. Companies in multiple industries are discovering the hard way that doing business digitally isn’t an “add technology and stir” proposition. To succeed in digital business means making fundamental changes to how you do business — not just how you reach or serve customers, but how you identify competitive markets and allocate funds.Read More
The number of sophisticated cognitive technologies that might be capable of cutting into the need for human labor is expanding rapidly. But linking these offerings to an organization’s business needs requires a deep understanding of their capabilities.Read More
Digitally savvy executives are already aligning their people, processes, and culture to achieve their organizations’ long-term digital success.
Many companies are responding to an increasingly digital market environment by adding roles with a digital focus or changing traditional roles to have a digital orientation. The list of “digital” business roles and functions is extensive and growing. There are now digital strategists, chief digital officers, digital engagement managers, digital finance managers, digital marketing managers, and digital supply chain managers, among other positions.Read More
Companies that adopt bold strategies in the face of industry digitization improve their odds of coming out winners.
The imperative of digital transformation is an insistent buzz in the ears of managers in many industries, even the most unexpected.
Consider the business of funeral homes. Few industries are more sensitive, more personal, and more in need of a human touch than the business of arranging funeral services for a loved one. But a study of funeral providers in Berlin, Germany, describes what happened when impersonal yet less expensive options crept up on this market.1 Aggressive digital entrants unleashed an unprecedented wave of competition in the late 1990s. Discount online providers used search engine optimization to build dominant market positions, leaving incumbents with little choice but to respond by going online themselves to compete against both digital entrants and each other on pricing — rather than on reputation and relationships.Read More
There is no question that artificial intelligence (AI) is presenting huge opportunities for companies to automate business processes. However, as you prepare to insert machine learning applications into your business processes, I’d recommend that you not fantasize about how a computer that can win at Go or poker can surely help you win in the marketplace. A better reference point will be your experience implementing your enterprise resource planning (ERP) or another enterprise system. Yes, effective ERP implementations enhanced the competitiveness of many companies, but a greater number of companies found the experience more of a nightmare. The promised opportunity never came to fruition.Read More
Companies are achieving productivity gains by using software robots to perform routine, rules-based service processes. If implemented well, such automation can result in high-performing human-robot teams, in which software robots and human employees complement one another.
For more than 130 years, managers have, in effect, been trying to get humans to act like robots by structuring, routinizing, and measuring work — all under the guise of organizational efficiency.1 The automation software that is being developed today2 enables a reversal of this process. We are now able to use software robots to amplify and augment distinctive human strengths, enabling large economic gains and more satisfying work. However, given the widespread skepticism and fears about how many types of employment will fare in the future, managers are in a difficult spot. Media headlines such as the “Rise of the Robots: Technology and the Threat of a Jobless Future”3 and “A World Without Work”4 only serve to fuel the anxiety.Read More