WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
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Curated by Farid Mheir
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The world’s most valuable resource is no longer oil, but data via @TheEconomist

The world’s most valuable resource is no longer oil, but data via @TheEconomist | WHY IT MATTERS: Digital Transformation | Scoop.it

An oil refinery is an industrial cathedral, a place of power, drama and dark recesses: ornate cracking towers its gothic pinnacles, flaring gas its stained glass, the stench of hydrocarbons its heady incense. Data centres, in contrast, offer a less obvious spectacle: windowless grey buildings that boast no height or ornament, they seem to stretch to infinity.

Also read: http://www.economist.com/news/leaders/21721656-data-economy-demands-new-approach-antitrust-rules-worlds-most-valuable-resource 

Farid Mheir's insight:

WHY THIS IS IMPORTANT

For a while the saying was that "If You're Not Paying for It; You're the Product" but it looks like today "If You're Not Paying for It; You're the Data". data is in fact so important today because it is essential to program the new algorithms of deep learning. Those that have plenty of Data - Facebook, Google, Apple, UBER, Tesla - will be able to have better software and thus hopefully better products.

Thus, you are the data. Think about it next time you use a computer or mobile phone...

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The Power of Data As the Next Big Thing in Content Marketing @HBR 

The Power of Data As the Next Big Thing in Content Marketing @HBR  | WHY IT MATTERS: Digital Transformation | Scoop.it
The diminishing effectiveness of conventional advertising and the rise of social media have led more and more brands to embrace content marketing. More and more companies are seeing themselves not just as advertisers, but as publishers, launching digital newsrooms, podcasts, and other forms of branded content in order keep their brands, perspectives, and value propositions in front of customers.
Farid Mheir's insight:

I wrote about this in the past numerous times and it is great to see HBR and others recognize this important trend: companies are sitting on huge amounts of information they can use to extract meaningful information and share it with their clients and employees to attract and retain them.

 

For example, look at jawbone and how they do it

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#Essential Insights To Prepare a Corporate Data Strategy via @capgemini

The customer journey could essentially be divided into 7 elements. We’ll touch upon the issue of ‘Privacy’ and how one balance social and commercial value. P…
Farid Mheir's insight:

A presentation of case studies in data analysis for Marketing, it also presents some very useful enterprise data science insights that can be leveraged when preparing a corporate data strategy. Also presents some interesting data points and use case priorization.


WHY THIS IS IMPORTANT

All corporations dream of leveraging data in real-time but the reality of legacy computer systems, lack of expertise with new tools and technologies, and a considerable amount of hype very often makes data strategies overblown and unrealistic. At this point in time it appears that the best course of action is to capture a target vision and identify numerous small initiatives to get your feet wet and run up the maturity scale. Stay away from large all-encompassing plans that require boiling the ocean (of data)!

Zac Ong's curator insight, November 17, 2015 8:53 PM

A presentation of case studies in data analysis for Marketing, it also presents some very useful enterprise data science insights that can be leveraged when preparing a corporate data strategy. Also presents some interesting data points and use case priorization.


WHY THIS IS IMPORTANT

All corporations dream of leveraging data in real-time but the reality of legacy computer systems, lack of expertise with new tools and technologies, and a considerable amount of hype very often makes data strategies overblown and unrealistic. At this point in time it appears that the best course of action is to capture a target vision and identify numerous small initiatives to get your feet wet and run up the maturity scale. Stay away from large all-encompassing plans that require boiling the ocean (of data)!

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How Companies Learn Your Secrets #mustread via @NYTimes

How Companies Learn Your Secrets #mustread via @NYTimes | WHY IT MATTERS: Digital Transformation | Scoop.it
Your shopping habits reveal even the most personal information — like when you’re going to have a baby.
Farid Mheir's insight:

Deep dive into the world of retail analytics where buying behaviour is dissected and analyzed. Provides an example where Target was able to successfully identify that a teenager was pregnant before she told anyone. Which led her parents to discover the truth when they started received coupons for baby care products in the mail. Spooky but considering what I know and that the article was written 3 years ago, this is, unfortunately, old news with old technology. Today, we are much better at it...


Must read.

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