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

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Published inNov 2020
PublisherPackt
ISBN-139781800561410
Edition1st Edition
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Data Analysis
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Bill Schmarzo
Bill Schmarzo
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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.
Read more about Bill Schmarzo

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DX Law #1: It's About Business Models, Not Just Business Processes

Digital Transformation is about reinventing and innovating business models, not just optimizing existing business processes.

Solely optimizing existing business processes is a "paving the cow path" mindset, where organizations simply apply new digital technologies to replace existing human-intensive operational processes, without taking into full consideration where and how new sources of customer, product, and operational value can be created. And while "paving the cow path" can yield marginal improvements in your business model (a Horizon 1 effect that we will discuss later in the chapter), marginal improvements won't win the day from a business model reinvention and digital transformation perspective.

Digital Transformation is about creating and leveraging new digital assets (data, analytics, and insights or propensities about customers, products, and operations) to reinvent...

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The Economics of Data, Analytics, and Digital Transformation
Published in: Nov 2020Publisher: PacktISBN-13: 9781800561410
© 2020 Packt Publishing Limited All Rights Reserved

Author (1)

author image
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.
Read more about Bill Schmarzo

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