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The Economics of Data, Analytics, and Digital Transformation

You're reading from The Economics of Data, Analytics, and Digital Transformation

Product type Book

Published in Nov 2020

Publisher Packt

ISBN-13 9781800561410

Pages 260 pages

Edition 1st Edition

Languages

Concepts

Author (1):

Bill Schmarzo

Table of Contents (14) Chapters

Preface

1. The CEO Mandate: Become Value‑driven, Not Data-driven

2. Value Engineering: The Secret Sauce for Data Science Success

3. A Review of Basic Economic Concepts

4. University of San Francisco Economic Value of Data Research Paper

5. The Economic Value of Data Theorems

6. The Economics of Artificial Intelligence

7. The Schmarzo Economic Digital Asset Valuation Theorem

8. The 8 Laws of Digital Transformation

9. Creating a Culture of Innovation Through Empowerment

10. Other Books You May Enjoy

11. Index

Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics

1. Appendix B: The Economics of Data, Analytics, and Digital Transformation Cheat Sheet

The Economics of Artificial Intelligence

So, let me give you the key take-away lesson from this chapter right off the bat:

Using Artificial Intelligence (AI), you can create assets that appreciate in value (not depreciate), the more that these assets are used.

In this chapter, I will provide commercial proof points to that opening statement by examining Google's open-source strategy for accelerating the capabilities of the TensorFlow AI/Machine Learning (ML) framework, as well as Elon Musk's Tesla Fully Self-Driving (FSD) autonomous AI strategy for creating assets that appreciate in value through usage.

Yes, be prepared. If you're still struggling to grasp the unique economic potential of data assets—assets that never deplete, never wear out, and can be used across an unlimited number of use cases at close to zero marginal cost—then this chapter is going to blow your mind!

Let's start this exploration by revisiting a topic that was...

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Authors (1)

Bill Schmarzo

Bill Schmarzo, The Dean of Big Data is a University of San Francisco School of Management Executive Fellow and an Honorary Professor at the School of Business and Economics at the National University of Ireland-Galway where he teaches and mentors students in his courses “Big Data MBA” and “Thinking Like a Data Scientist". He is the author of Big Data: Understanding How Data Powers Big Business, Big Data MBA: Driving Business Strategies with Data Science, and The Art of Thinking Like a Data Scientist. He has written countless whitepapers, articles and blogs, and given keynote presentations and university lectures on the topics of data science, artificial intelligence/machine learning, data economics, design thinking and team empowerment.

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