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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
Author (1):
Bill Schmarzo Bill Schmarzo
Profile icon Bill Schmarzo

Table of Contents (14) Chapters

Preface The CEO Mandate: Become Value‑driven, Not Data-driven Value Engineering: The Secret Sauce for Data Science Success A Review of Basic Economic Concepts University of San Francisco Economic Value of Data Research Paper The Economic Value of Data Theorems The Economics of Artificial Intelligence The Schmarzo Economic Digital Asset Valuation Theorem The 8 Laws of Digital Transformation Creating a Culture of Innovation Through Empowerment Other Books You May Enjoy
Index
Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics
Appendix B: The Economics of Data, Analytics, and Digital Transformation Cheat Sheet

Empowerment #4: Embrace an "AND" Mentality

"AND" Mentality embraces differing perspectives to blend, bend, and break apart the different ideas to create something more powerful and more empowering than what was there before.

Another history lesson (I always loved history in middle school): If you had challenged car manufacturers in 1979 to increase horsepower while also improving mileage per car, the automobile executives would have looked at you like you had lobsters crawling out of your ears. However, that is exactly what happened.

The car manufacturers in the 1970s operated with an "OR" mentality—customers could have cars with good "fuel mileage OR horsepower" but not both. However, the automobile industry was forced to reframe this mindset when the U.S. government mandated higher vehicle fuel mileage in 1975 and then again in 2007. And instead of going out of business, car manufacturers (or at least some of them—I&apos...

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