IBM Big Data Hub

APRIL 25, 2024

This blog outlines some BPR examples that benefit from a BPM methodology. The methodology gained prominence with the publication of a 1990 article in the Harvard Business Review, “Reengineering Work: Don’t Automate, Obliterate,” by Michael Hammer, and the 1993 book by Hammer and James Champy, Reengineering the Corporation.

Cost-Benefit 57

Cost-Benefit Finance Optimization Key Performance Indicator 57

CIO Business Intelligence

MARCH 14, 2022

In How to Measure Anything , Douglas Hubbard offers an alternative definition of “measurement” to the Oxford English Dictionary’s “the size, length, or amount of something.” Hubbard defines measurement as: “A quantitatively expressed reduction of uncertainty based on one or more observations.”. but how deep is that coverage?

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Uncertainty Measurement Cost-Benefit Optimization 87

CIO Business Intelligence

MAY 16, 2024

“In Piano Strategico Industriale, the traditional activity of heritage management and preservation is integrated with innovation, sustainability, and digitalization for the benefit of users, public administrations and territories,” he explains. Every day, there’s support for users, who are sometimes disoriented by changes.

Digital Transformation 90

Digital Transformation Data-driven Cost-Benefit Management 90

IBM Big Data Hub

MAY 14, 2024

Despite the headwinds, there are tailwinds in which we can use new technology to enable CFOs to perform in their business partnering roles and drive productivity, cost take out, accuracy, control and business value. There are benefits to being a consumer of AI but far greater benefits for being a value creator.

Finance 69

Finance Cost-Benefit Reporting Forecasting 69

CIO Business Intelligence

MAY 16, 2022

ITIL’s systematic approach to IT service management (ITSM) can help businesses manage risk, strengthen customer relations, establish cost-effective practices, and build a stable IT environment that allows for growth, scale, and change. For more information on the benefits of the latest version of ITIL, see “ ITIL 4: ITSM gets agile.”.

IT 102

IT Cost-Benefit ROI Risk 102

CIO Business Intelligence

DECEMBER 20, 2023

For example, Uber and Zomato use a deep learning algorithm that considers driver location and overall ratings while mapping them to particular orders/bookings. This integration brings forth a suite of tangible benefits. Implementing robust security measures fosters trust, nurtures customer loyalty, and strengthens brand reputation.

Software 99

Software Deep Learning B2B Cost-Benefit 99

Jen Stirrup

MAY 22, 2024

These reference architectures and implementation guides allow enterprises to deploy intelligent applications confidently, ensuring reliability, cost-efficiency, and compliance. This innovation particularly benefits customer service, knowledge management, and content generation businesses. What are the risks of RAG for businesses?

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Cost-Benefit Risk Modeling Business Objectives 45

Smart Data Collective

JANUARY 11, 2023

Some of the case studies on the benefits of data-driven marketing are quite promising. Most of the discussions on the benefits of big data in marketing focus on technology businesses. Data-driven marketers recognize the growing benefits of AI for creating great video content or even live-streaming video content.

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Data-driven Marketing Advertising Big Data 98

Smart Data Collective

NOVEMBER 12, 2021

Big data has helped companies identify promising cost-saving measures, recruit the best talent, optimize their marketing strategies and realize many other benefits. However, there are a lot of other benefits of big data that have not gotten as much attention. Control Operational Costs. Here’s why.

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Data-driven Cost-Benefit Data mining Big Data 103

CIO Business Intelligence

SEPTEMBER 26, 2023

Leaders who can establish financial- or time-related benefits to mitigate the risk of breaking the rule can show they have thought through the decision’s repercussions and have an objective view of the balance between risk and value, Chowning says. The goal is to get everyone on the same page and make an informed, collective decision.”

IT 138

IT Risk Cost-Benefit Consulting 138

IBM Big Data Hub

JULY 10, 2023

Vibration analysis—a component of condition monitoring systems—utilizes vibration sensors to measure frequencies in an asset and detect abnormalities that may indicate a problem. Frequency measures the number of oscillations per unit of time, usually expressed in Hertz (Hz). Accelerometers (e.g., Accelerometers (e.g.,

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Optimization IT Measurement Cost-Benefit 55

CIO Business Intelligence

JANUARY 11, 2023

The company’s overall strategy is to “have a customer experience that’s second-to-none — from the moment they first engage with the company to plan their experience, to when they return home at the end of their travels — regardless of what Journey Beyond adventure you are booking.” The high call volumes meant huge costs for us.

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IT Cost-Benefit Consulting Data Processing 117

FineReport

JUNE 19, 2023

Let’s delve into these benefits further in the subsequent sections. Identifying areas for enhancement : By utilizing operational reports to track key performance indicators (KPIs), businesses can pinpoint areas that are underperforming and take necessary measures to improve them. Book a Free Demo 1.

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Operational Reporting Reporting Key Performance Indicator Dashboards 52

CIO Business Intelligence

NOVEMBER 28, 2023

Based on its analysis, McKinsey has concluded that a midsize institution with $5 billion of operating costs spends more than $250 million on data across third-party data sourcing, architecture, governance, and consumption. Estimates vary widely, with data spend being pegged at anywhere between 10% and 57% of total IT budgets.

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Management Data Architecture Data Lake Data Strategy 110

Smart Data Collective

JULY 4, 2023

Tools like Selenium can help automate many of these tasks with the benefits of AI. Reporting and analytics: digitization removes manual paperwork-based record keeping and provides instant insights on costs, timelines, and other performance metrics. It makes this information digitally accessible across devices.

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Technology Software Data-driven Measurement 73

FineReport

MAY 18, 2024

Benefits of Data Visualization Enhanced Decision-Making : By presenting data visually, individuals can quickly grasp insights and make informed decisions. Education benefits from data visualization by enhancing learning experiences through interactive visual aids.

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Visualization Interactive Cost-Benefit Dashboards 52

erwin

JUNE 26, 2020

Data catalogs combine physical system catalogs, critical data elements, and key performance measures with clearly defined product and sales goals in certain circumstances. You also can manage the effectiveness of your business and ensure you understand what critical systems are for business continuity and measuring corporate performance.

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Metadata Cost-Benefit Measurement Data-driven 132

IBM Big Data Hub

DECEMBER 13, 2023

Predictive maintenance measures asset performance then correlates data anomalies or creates analogies with similar performance data to determine the best approaches for inspections and maintenance. 10 areas that can benefit from applying RCM within your organization 1. Delaying maintenance can also increase safety and compliance risk.

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Cost-Benefit Optimization Strategy Risk 63

CIO Business Intelligence

OCTOBER 4, 2022

“For internal stakeholders, identity strengthens customer intelligence, improves ROI and generates new revenue streams across sales, marketing, IT and other departments, among many other benefits.” In collaboration with the CMO, the CIO can bring their company’s own data in connection to a media partner for better targeting and measurement.

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Cost-Benefit Strategy ROI Digital Transformation 96

Juice Analytics

MARCH 30, 2021

Gathering, storing, and managing data all costs money. There are many benefits of having a data fluent culture , but what does it take to get there? Here’s the framework we first outlined in our book Data Fluency : Data fluency is a web of connected elements. Data alone isn’t valuable—it’s costly.

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Cost-Benefit Statistics Metrics Dashboards 131

IBM Big Data Hub

JULY 25, 2023

A smart grid is a digital electricity network that supplies power to consumers using interactive two-way communication, enabling automated, advanced energy delivery and a litany of opportunities for consumers to control their electricity use and costs. One such technology is advanced metering infrastructure (AMI).

Optimization 56

Optimization Technology Measurement Cost-Benefit 56

O'Reilly on Data

APRIL 22, 2020

Compliance functions are powerful because legal violations result in clear financial costs. The era in which fines were merely a cost of doing business appears to be ending. As a privacy leader in the technology space, Apple knows this well and has benefited from a strong reputation as a data steward.

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Cost-Benefit Finance Strategy Data-driven 248

FineReport

JULY 4, 2023

By regularly and automatically measuring KPIs, you can enhance productivity and reduce costs. This approach not only helps extract additional value from organizational data but also facilitates setting targets and measuring incremental progress in crucial areas of the business. Why do Businesses Track KPIs?

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KPI Key Performance Indicator Dashboards Sales 52

Smart Data Collective

MARCH 5, 2021

Although data analytics tools have offered a number of opportunities and benefits for business owners relying on their websites to reach new audiences, many of them don’t know how to use them effectively. In that sense, a bounce is measured as a failure. Every interaction on a website tells a story.

Metrics 128

Metrics Data Analytics Analytics Advertising 128

O'Reilly on Data

JULY 28, 2020

Ethics and Data Science is a short book that helps developers think through data problems, and includes a checklist that team members should revisit throughout the process. When a measure becomes a target, it ceases to be a good measure ( Goodhart’s Law ). Those are questions that every product team needs to think about.

Marketing 362

Marketing Experimentation Metrics Testing 362

Peter James Thomas

MARCH 17, 2020

In my last article, Measuring Maturity , I wrote about Data Maturity and how this relates to both Data Strategy and a Data Capability Review. These need to be woven together to form the fabric of a Data Strategy and to deliver several other more detailed supporting documents, such as Data Roadmaps, or Cost / Benefit Analyses.

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Data Strategy Strategy Cost-Benefit Business Intelligence 80

erwin

SEPTEMBER 12, 2019

In the book “Exponential Organizations” by Salim Ismail, Michael S. Malone and Yuri van Geest , the authors, examine how every company is or will evolve into an information-based entity in which costs fall to nearly zero, abundance replaces scarcity and only “exponential organizations” survive. How is this possible and why now?

Modeling 101

Modeling Cost-Benefit Data-driven Data Governance 101

FineReport

DECEMBER 29, 2021

For example, track the efficacy of particular sales efforts using a measure or KPI (Key Performance Indicator). Customer acquisition cost. Costs associated with signing up a new client are known as Customer Acquisition Costs (CAC). The time to hire is an essential measure in recruitment. Cost per hire.

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KPI Metrics Dashboards Key Performance Indicator 52

CIO Business Intelligence

SEPTEMBER 20, 2023

Equally important, the documented vision is a tool for agile teams to make implementation decisions when there are multiple ways to solve problems, each with different benefits and tradeoffs. The writing process builds trust, and a documented vision builds a shared understanding of priorities.

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Digital Transformation Uncertainty Metrics Business Objectives 126

CIO Business Intelligence

NOVEMBER 7, 2022

However, the measure of success has been historically at odds with the number of projects said to be overrunning or underperforming, as Panorama has noted that organizations have lowered their standards of success. million in implementation costs. million in implementation costs. million over the following nine months.

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Manufacturing Cost-Benefit Sales Consulting 127

CIO Business Intelligence

OCTOBER 23, 2023

Jain says that starts by understanding the definition of “customer,” which Jain defines as “anybody who benefits from your services and products.” In this new world, IT must have a two-pronged strategy, one focused on cost optimization and the other on digital innovation, Palaniappan says. “IT needs to go beyond that.

IT 133

IT Consulting Scorecard Key Performance Indicator 133

CIO Business Intelligence

SEPTEMBER 11, 2023

When it comes to fostering digital literacy in the C-suite, Michael Seals literally wrote the book. The primary benefits of digital literacy efforts are to build trust and relationships and get to a common language and shared vocabulary. At his company, anyway. You have to get that understanding first.”

Digital Transformation 133

Digital Transformation ROI Strategy Technology 133

AWS Big Data

FEBRUARY 1, 2024

The solution should be scalable, cost-efficient, and straightforward to adopt and operate. In this post, we demonstrated how you can use Amazon Redshift capabilities for ease of use, low maintenance, and cost-efficiency. His current focus is sharing the benefits of using Amazon Redshift, Amazon’s native cloud data warehouse.

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Data Warehouse Dashboards Risk Management Risk 123

FineReport

APRIL 3, 2024

Benefits of BI Dashboard Tools Business intelligence dashboards are now essential tools, making complex data accessible to non-technical users. These well-designed dashboards offer several business benefits: Empowering informed decisions and strategic planning for business executives. Assess upfront costs and long-term expenses.

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Dashboards Visualization Metrics Interactive 52

FineReport

JUNE 29, 2023

In this article, we will explore the concept of IoT dashboards, delve into their benefits, examine real-life examples, and highlight the essential features that make them indispensable in the IoT landscape. Consequently, these features aid in minimizing downtime, reducing operational costs, and mitigating product failure rates.

IoT 52

IoT Dashboards Visualization Cost-Benefit 52

O'Reilly on Data

OCTOBER 22, 2020

It’s also a good indirect measure of training data quality: a team that does not know where their data originated is likely to not know other important details about the data as well. What’s the cost of doing nothing? What costs do you incur, what exposures do take on now? The backstory: A consultant is an agent of change.

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Consulting Risk Cost-Benefit Modeling 297

FineReport

APRIL 26, 2023

Cost Savings : Big data tools such as FineReport , Hadoop, Spark, and Apache can assist businesses in saving costs by storing and handling huge amounts of data more efficiently. These objectives should be broken down into measurable analytical goals, and the chosen tool should be able to meet those goals.

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Big Data Data Analytics Analytics Cost-Benefit 52