A city without traffic jams seems like a far-fetched dream that most people would not even believe in. Many would say the same about air pollution as well since breathing in clean and fresh air in the cities is something that most have not really experienced. Well, you might be surprised, but big data could be the solution to all of these problems that modern cities face.
Although the advent of Big Data stands to benefit several industries, the insurance sector has a clear advantage in terms of leveraging technology to benefit not only its bottom line but also its customers. To a great extent, the insurance industry was one of the earliest adopters of Big Data; over the last few decades, actuaries and statisticians have been reviewing large data sets and preparing analytical reports for underwriters who in turn make decisions about coverage and premium rates.
Disruptive ideas don’t just happen - they must be championed. In doing so, intrapreneurs must address two fundamental truths when leading big idea innovation: that of value creation and that of persuasive communication. If you want to learn how to scale innovation across your enterprise and create a disciplined approach for creating market-changing ideas, One Hour Innovator is a great place to start.
Big Data has had a big impact on the competitive landscape. Businesses that have embraced this explosive technology of digital media are better positioned to market faster with products and services that satisfy customers' needs adequately. Wise management of time is very critical in staying ahead of the competition. Utilizing Big Data solutions in processing digital data is one way of enabling managers or organizations and business owners to make quick, informed decisions that streamline efficient business operations. Here is an analysis of some of the real management applications of Big Data:
Nobody doubts that design can be powerful. But while words and phrases like ‘design thinking,’ ‘agile’ and ‘lean’ may be officially welcome in the boardrooms of Deloitte, Accenture, PWc, McKinsey and similar firms, I believe that the full potential of design has been neglected and these terms misappropriated.
B2B, or business to business marketing, involves selling of a [...]
Big data is becoming increasingly vital to business scaling and competition. In this article, we’ll introduce you to the three V’s of big data - volume, velocity, and variety - and discuss the many ways your company can benefit from incorporating big data into decision making, product development, audience analysis, and much more.
Companies once deemed “too big to fail” are increasingly exposed to failure. The threat of disruption is everywhere. Startups are taking on the Goliaths in every market. Scores of malls across the United States are in collapse. Many household brand names are losing ground or even shutting completely. Regardless of industry, businesses face digital Darwinism, the evolution of technology and markets. Disruption is just a matter of when, where and why. To compete, executives must make tough decisions but more so, they must look to new horizons for new insight and direction. Whether companies thrive or cower in the face of digital Darwinism is a choice.
Business Intelligence software is an essential tool for analyzing your company's strengths and weaknesses. From inventory management, to accounting, to customer intelligence and beyond, there are many ways you can use BI software to inform your decision-making, increase operational efficiency, and gain a competitive edge.
These days, when migrants arrive at a refugee camp, one of the first things they ask for is access to WiFi and electricity to recharge their cell phones. Their smartphone is as basic a resource for survival as food and water. This is a vivid reminder of the fact that we are fully immersed in a digital world.
The keyword “Industry 4.0” is no longer an empty cliché or a black box; it is currently probably the most important topic within the German economy. Not only will existing processes be revolutionized – but also new businesses and business models will arise. More and more companies have already started to tap into its potential.
Marc Vollenweider has spent over 15 years guiding Evalueserve to become a global research, analytics and data management solutions provider. In this week’s episode he discusses his transition from being a McKinsey partner to founding a business employing over 3,500 people as well as the counter-intuitive benefits arising from simplification and automation.
Too many notes, Mozart was once told. Too many ideas, we might say today. The culture of innovation is awash with idea generation and its sidekick, fail-fast fail cheap innovation. Worse, we need a culture of transformation not just innovation. Accenture recently reported that 81% of executives they interviewed see platforms as central to their strategy over the next three years.
Paul Brody is a Global Innovation Leader in BlockChain Technology and a Solution Leader in the Industrial Internet of Things at EY. Paul has spent more than 15 years in the electronics industry and has done extensive research for his clients on technology strategy. Paul understands that technology is deeply rooted in strategy, but it gets complex as new technologies and disruptions arise in our modern world. For example, the moment self-driving cars are perfected, it will cause a huge disruption in our economy, so how can we navigate through it?
Customer insight, data & analytics have become an integral part of customer experience. With constantly rising customer expectations and an increasing demand for a quicker service, more channel choice and a highly personalised interaction, the only way you can achieve all three of these and ensure you’re providing an excellent CX is by truly knowing your customers.