@Tom-Thank u very much for ur inputs.one final question-how can ordinary enterprises trust the apps on a General App store?doesnt it make more sense for the seller to have some sort of a demo/link on the app Store and the actual app is on their own website?
Nicole, the industries that need most help are the ones with low success rates on key decisions. For example, the film industry makes money on about 6% of the movies it makes. They need this badly. Some organizations, like Relativity Media, are starting to use analytics, and are much more successful. Other industries that need better decisions badly are venture capital and fashion.
aum007, I think that the data coming from mobile devices will spur more adoption. And in terms of people using them to view information within enterprises, they're leading to smaller, more focused "analytic apps" that help with a single decision and are simple enough to use on a smartphone
Tom, is there any one industry that you think would best benefit from analytics? Or, alternatively, is there a particular industry that you think could be doing a much better job using analytics than it is currently?
DHagar - I imagine that anyone who is good at data analytics could extract value from this skill professionally. Like computer programming, I imagine data analytics would remain both a specialization and a special skill we all need.
@tom-I was recently looking at some Skills wanted lists(in IT)-And Project Managers feature very,very highly.What do u think developers can do to master this skill better(other than simply get a PMP Certificate)!!!
That makes sense, Tom. And with that in mind, then I understand why you support Do Not Track initiatives. There's no real sense in tracking people if meaningful insights aren't being derived from it, right?
Nicole, I think that it's really difficult to do a good job of targeted advertising or product offers. Doing it well would require that you know a lot about your customers, a lot about your products or offerings, and a lot about the purchase context--and most companies just haven't made the investment to master all that information. I wrote with some colleagues about this--primarily the "next best offer" topic--in a December 2011 article in Harvard Business Review.
fitzscott, I think the idea behind the "data scientist" term was that there needed to be a new term for the hybrid of programmer/hacker and quantitative analyst. I am not sure that's the best possible term, but we seem to be stuck with it for people who can work effectively with big data.
DHagar, I am always happy to talk about my books! This one is called Judgment Calls: Twelve Stories of Big Decisions and the Teams that Got Them Right. It's just that--stories of how organizations went beyond the "great man" school of decision-making and used analytics, a participative decision process, social media, etc to make better decisions. The examples range from NASA to a couple of small businesses to McKinsey & Co.
What's the rationale behind the term "data scientist"? It seems like all scientists have to collect & analyze data, understand statistical significance, etc. The software development part of the equation seems more significant. The term "social scientist" is already taken, but maybe this is along those lines - psychology, etc.
Sum007, the ERP vendors have discussed functionality that would embed analytical decisions into the flow of the ERP process--e.g., a lifetime customer value calculation into the order management process. But these capabilities have been slow to arrive. I think there are probably ways to do some of it on your own, but haven't heard much about it happening.
Kim, I agree that sentiment analysis is a crude tool that gives only a crude approximation of what people are saying and thinking about a brand or product. Right now it may be easier to do it with a group of interns rather than an automated tool!
To DHagar--I have found that most organizations already have some managers who are believers in analytics--the best solution is to find them and try to work with them to expand the base and prove that analytics can make a difference.
What's the rationale behind the term "data scientist"? It seems like all scientists have to collect & analyze data, understand statistical significance, etc. The software development part of the equation seems more significant.
@Nicole: Marketers who refuse to respect the privacy of the target market make me want to slap them. Marketers who refuse to adequately use the infor they have also make me want to slap them. I think I should invest in a slapping device.
Are there "levels" of analytics....i.e. things that are associated under a broad catagory that the analysis of gives building trends, reducing trends and change measurements vs the single yes no questions of analysis in the past?
You've heard the expression, "Out of the frying pan, into the fire?" Amazon lives in the fire. The e-tailer wins by keeping things hot for its competitors, employees, and itself, according to a new book.
Positec, a manufacturer of power tools for homes and commercial applications, achieves greater customer service flexibility and cuts hold times in half by using a cloud-based service to manage its call center.
Big-data and analytics tools enable marketers to understand customers as individuals, identifying unmet needs and addressing each customer as a "segment of one," says John Kennedy, VP corporate marketing, IBM.
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