Data
Reader small image

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

Product typeBook
Published inNov 2020
PublisherPackt
ISBN-139781800561410
Edition1st Edition
Concepts
Data Analysis
Right arrow
Author (1)
Bill Schmarzo
Bill Schmarzo
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

Right arrow

DX Law #3: It's About Speaking the Language of Your Customers

Digital Transformation is about empathizing, ideating, validating, and quantifying the creators and inhibitors of customer value; it's about reinventing your business model to expand upon, exploit, and monetize those sources of customer value creation while eliminating the inhibitors of value creation.

Let's say that you are in the retail industry and looking to identify opportunities to combine digital technologies with customer usage insights (propensities) to eliminate barriers to customer value creation. That retailer would want to invest the time to empathize, ideate, validate, and quantify the sources and impediments of value creation for their customers. Figure 8.4 provides an example of how a retailer could reinvent the customer value creation process by emphasizing the sources and eliminating the inhibitors of value creation.

Figure 8.4: Traditional versus Digitally Transformed Customer...

lock icon
The rest of the page is locked
Previous Page
Chapter 9 of 14, Page 4
Next Page
You have been reading a chapter from
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

Other recommended products

Related to this chapter

Industrial Digital Transformation

Industrial Digital Transformation

Digital transformation requires the ability to identify opportunities across industries and apply the right technologies and tools to achieve the right business outcomes. You will be guided through how digital transformation can be implemented in your organization across different levels using emerging technologies.

BookNov 2020426 pages
Building Analytics Teams

Building Analytics Teams

Building Analytics Teams is your one-stop guide to transforming your firm into an analytically driven organization while efficiently and effectively managing executive expectations of the return on investment of the team and projects.

BookJun 2020394 pages3
Architecting the Industrial Internet

Architecting the Industrial Internet

The Industrial Internet gathers data from Industrial IoT devices providing new sources of information enabling the solving old difficult problems in innovative ways.These solutions cross many disciplines. This book takes the reader through this multi-disciplinary journey that combines the operational and the enterprise view.

BookSep 2017360 pages
Lean Product Management

Lean Product Management

Lean Product Management is a handy guide for product managers and anyone embarking on new product development. This book will help readers to align their product strategy by identifying the most viable product, setting up and measuring time-bound metrics, developing a clear product roadmap, and eliminating waste.

BookMay 2018240 pages
Artificial Intelligence Business: How you can profit from AI

Artificial Intelligence Business: How you can profit from AI

This book gives you an overview of artificial intelligence and helps you to understand the modern applications of AI in the business, education, and entertainment sectors.

BookAug 2020150 pages
The Art of CRM

The Art of CRM

Max Fatourechi shares his decades of experience building successful CRM systems that make a real difference to business performance. Through clear processes, actionable advice, and informative case studies, The Art of CRM teaches you to design successful CRM systems for your clients

BookMay 2019360 pages
Managing Data Science

Managing Data Science

With this book, you will learn how to integrate data science into your organization and lead data science teams. You will discover the inner workings of data science, explore management techniques for data science projects and get strategies for executing every stage of the project efficiently.

BookNov 2019290 pages
Blockchain for Decision Makers

Blockchain for Decision Makers

This book will cover use-cases on how blockchain is currently being used in the industry - catering to key decision-makers within an organization. It also addresses the real problems and technical difficulties in implementing blockchain, and the various blockchain strategies being adopted by popular organizations all over the world.

BookSep 2019184 pages
Architecting Cloud Computing Solutions

Architecting Cloud Computing Solutions

Cloud adoption is a core component of digital transformation. Scaling the IT environment, making it resilient, and reducing costs are what organizations want. Architecting Cloud Computing Solutions presents and explains the critical Cloud solution design considerations and technology decisions required to choose and deploy the right Cloud service and deployment models based on your business and technology service requirements.

BookMay 2018378 pages
Enterprise Agility

Enterprise Agility

In an era of fast-paced change and unprecedented technological innovation, businesses are struggling to survive. This practical book will prepare your organization to adapt and excel. Learn how adopting Agile ways of working and increasing Agility will propel your company to success in competitive markets.

BookJun 2018490 pages
From Voices to Results - Voice of Customer Questions, Tools and Analysis

From Voices to Results - Voice of Customer Questions, Tools and Analysis

This book is all about getting to know your customers – what they want and need, what they like and don’t like. Voice of the Customer is one of the most popular forms of market research combining both quantitative and qualitative methods. This book shows you how to engage with customers and understand their wants and needs, likes and dislikes – something which is becoming more in more important with the rise of an increasingly connected world

BookApr 2018218 pages

Personalised recommendations for you

Based on your interests and search pattern

Et al.

Et al.

Ever wonder why speech recognition systems don't understand the Scottish accent, or what would happen if an astronaut only ate mac 'n' cheese, or other spurious reflections you'd have at a bar? We did, then collated those deliberations into absurd research articles with fake figures and methodologies inspired by even more fictionally absurd studies.

BookAug 2023230 pages5
Generative AI with LangChain

Generative AI with LangChain

This book is a comprehensive introduction to LLMs and LangChain, demystifying the basic mechanics of LangChain, its functionalities, and the myriad of applications it can be integrated into.

BookDec 2023360 pages4
Generative AI with LangChain

Generative AI with LangChain

This book is a comprehensive introduction to LLMs and LangChain, demystifying the basic mechanics of LangChain, its functionalities, and the myriad of applications it can be integrated into.

BookDec 2023360 pages5
Generative AI with LangChain

Generative AI with LangChain

This book is a comprehensive introduction to LLMs and LangChain, demystifying the basic mechanics of LangChain, its functionalities, and the myriad of applications it can be integrated into.

BookDec 2023360 pages1
Generative AI with LangChain

Generative AI with LangChain

This book is a comprehensive introduction to LLMs and LangChain, demystifying the basic mechanics of LangChain, its functionalities, and the myriad of applications it can be integrated into.

BookDec 2023360 pages5
Mastering Tableau 2023

Mastering Tableau 2023

This book is a comprehensive resource to mastering your Tableau skills and becoming a BI expert. As you progress, you will learn how to build advanced dashboards and improve your storytelling to derive key business insight, as well as make you well-versed with advanced functionalities of Tableau in the business intelligence domain.

BookAug 2023684 pages
Building AI Applications with ChatGPT APIs

Building AI Applications with ChatGPT APIs

This guide covers all ChatGPT API features for effortless creation of robust AI powered apps. With its help, you’ll be able to leverage ChatGPT’s cutting-edge NLP models to take your app development skills to the next level. You’ll also work on ten exciting projects that will give you the practical know-how that you can apply to your existing applications.

BookSep 2023258 pages5
Building AI Applications with ChatGPT APIs

Building AI Applications with ChatGPT APIs

This guide covers all ChatGPT API features for effortless creation of robust AI powered apps. With its help, you’ll be able to leverage ChatGPT’s cutting-edge NLP models to take your app development skills to the next level. You’ll also work on ten exciting projects that will give you the practical know-how that you can apply to your existing applications.

BookSep 2023258 pages2
Data Engineering with AWS

Data Engineering with AWS

Embark on a journey to master data engineering pipelines on AWS! Our book offers a hands-on experience of AWS services for ingesting, transforming, and consuming data. Whether you're an absolute beginner or someone with basic data engineering experience, this guide is an indispensable resource.

BookOct 2023636 pages5
Modern Data Architecture on AWS

Modern Data Architecture on AWS

Every organization wants an agile, performant, and cost-effective data platform that meets all their current and future business needs. Purpose-built AWS analytics services and their features play a big part in building such a modern data platform. This book brings to you all the design and architectural patterns that’ll help you achieve this goal.

BookAug 2023420 pages5
Practical Guide to Applied Conformal Prediction in Python

Practical Guide to Applied Conformal Prediction in Python

Discover the power of Conformal Prediction with the "Practical Guide to Applied Conformal Prediction in Python." Master the latest techniques to quantify uncertainty in machine learning and computer vision models, and seamlessly apply them to your industry applications.

BookDec 2023240 pages
TinyML Cookbook

TinyML Cookbook

With over 70 project-based recipes, the TinyML Cookbook is a practical guide that will help you to get the most out of your microcontrollers. It provides a comprehensive understanding of the theoretical foundations while giving you hands-on experience training ML models for deployment on Arduino Nano 33 BLE Sense, Raspberry Pi Pico, and SparkFun RedBoard Artemis Nano microcontrollers.

BookNov 2023664 pages