Organizations have always depended on data — to manage operations, to communicate with customers, to pay employees and suppliers, to plan their futures, and so forth. Those with the best data have enjoyed distinct advantages — in commerce, for example, better understanding the market leads to better products offered at better prices, and so forth. Data has enabled strategy, but, with few exceptions, neither driven … [ Read more ]
Content: Article | Author: Thomas C. Redman | Source: Harvard Business Review | Subjects: IT / Technology / E-Business, Strategy
Every manager must make the distinction between “correlation” and “cause and effect” regularly, as the topic comes up in many guises.
Content: Quotation | Author: Thomas C. Redman | Source: Harvard Business Review | Subjects: Analysis, Decision Making, Management
Almost all companies grossly underutilize their data assets. Even firms that mine their data for strategic insights barely scratch the surface. Yet, the marketplace value of data is huge and growing. In my work with and research on hundreds of companies across multiple industries, I’ve identified nine distinct strategies that organizations can employ to put their data to work in their marketplaces.
Content: Article | Author: Thomas C. Redman | Source: Harvard Business Review | Subject: IT / Technology / E-Business