Companies gather and analyze data to fine-tune their operations, whether it’s to help them figure out which webpage design works best for customers or what features to include in their product or service to boost sales. Marketers, in particular, use data analytics to answer questions like this: To put people in a shopping mood, is it better to make the webpage banner blue or yellow? … [ Read more ]
Content: Article | Authors: Christophe Van den Bulte, Ron Berman | Source: Knowledge@Wharton | Subjects: IT / Technology / E-Business, Marketing / Sales
Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.
Content: Article | Author: Ajay Agrawal | Source: McKinsey Quarterly | Subjects: Economics, IT / Technology / E-Business
As recent McKinsey Global Institute research indicates, there’s a yawning divide between leaders and laggards in the application of AI both across and within sectors. Executives hoping to narrow the gap must be able to address AI in an informed way. In other words, they need to understand not just where AI can boost innovation, insight, and decision making; lead to revenue growth; and capture … [ Read more ]
Content: Article | Authors: James Manyika, Mehdi Miremadi, Michael Chui | Source: McKinsey Quarterly | Subject: IT / Technology / E-Business
We see a paradox in two important analytics trends. The percentage of marketing budgets companies plan to allocate to analytics over the next three years will increase from 5.8% to 17.3%—a whopping 198% increase. These increases are expected despite the fact that top marketers report that the effect of analytics on company-wide performance remains modest, with an average performance score of 4.1 on a seven-point … [ Read more ]
Content: Article | Author: Carl F. Mela | Source: Harvard Business Review | Subjects: IT / Technology / E-Business, Marketing / Sales
The “Internet of Things” (IoT) is often described as a collection of connected sensors, but it is actually a much more complex concept. It involves not only the connection and integration of devices that monitor the physical world—temperature, pressure, altitude, motion, proximity to something else, biometrics, sound, images, and so forth—but also the aggregation, relationship, and analysis of the information those devices create in order … [ Read more ]
Content: Article | Authors: John Lucker, Tom Davenport | Source: Deloitte Review | Subjects: IT / Technology / E-Business, Trends / Analysis
While IoT-enabled advanced analytics could be worth trillions to manufacturers, turning insights into outcomes requires more than just the right technology.
Content: Article | Authors: Mark Patel, Richard Kelly, Subu Narayanan | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Operations
Enterprise Social Software (ESS)-enabled communities can contribute significantly to decision making, but how well they contribute depends on the type of decision being made and the role given to ESS. Deploying online communities to democratize decision making is very conducive to enhancing operational and tactical decisions in terms of identifying and including the “right” stakeholders and decision makers impacting work practices, as well as gaining … [ Read more ]
Content: Article | Authors: Chris Vialle, Eoin Whelan, Rick Aalbers, Salvatore Parise | Source: Ivey Business Journal | Subjects: IT / Technology / E-Business, Management, Organizational Behavior
Too many companies are themselves unhappy customers when it comes to building measurement systems. Here’s how to make better investments.
Content: Article | Authors: Harald Fanderl, Kevin Neher, Ralph Breuer, Victoria Bough | Source: McKinsey Quarterly | Subjects: Customer Related, IT / Technology / E-Business
Digital disrupts business strategy. Finding the right competitive response is complex. Executives must act fast across multiple layers of the business.
There is no one path to becoming a digital leader. Intelligent experimentation— a marathon in sprints—means business leaders need a fundamentally different approach to how strategies are developed and executed.
Content: Article | Authors: Bruno Berthon, Mark McDonald, Mark Pearson | Source: Accenture | Subjects: IT / Technology / E-Business, Strategy
Analytics plays an increasingly important role in B2B sales—and high-performing sales organizations take it to a new level to differentiate themselves from the also-rans.
Content: Article | Authors: Charles Atkins, Lareina Yee, Maria Valdivieso de Uster, Mitra Mahdavian | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Marketing / Sales
This report offers pragmatic advice on how incumbent organizations can identify, develop and excel with digital— and suggests seven critical “no-regret” capabilities to be digital now. As the term implies, these capabilities can help organizations develop and improve today, irrespective of their digital strategy or industry, to realize benefits for the longer term.
Content: Article | Authors: Bruno Berthon, Narry Singh | Source: Accenture | Subject: IT / Technology / E-Business
To fully benefit from new business technology, CIOs need to adapt their traditional IT functions to the opportunities and challenges of emerging technology “ecosystems.” Here’s how it’s done.
Content: Article | Authors: Driek Desmet, Niels Maerkedahl, Parker Shi | Source: McKinsey Quarterly | Subject: IT / Technology / E-Business
Email is a great medium for connecting with leads and customers. But when your list becomes bloated with bad addresses and inactive subscribers, it’s time to clean house. So let’s look at the four types of offending addresses and how to deal with each of them effectively.
Content: Article | Author: Chad White | Source: MarketingProfs | Subjects: IT / Technology / E-Business, Marketing / Sales
With a higher degree of digital fluency, boards can help C-suite leaders make better decisions about how to expand a company’s most successful technology initiatives and when to pull the plug on lagging ones. In our experience, board directors are more likely to gain such fluency if they routinely ask these five critical questions relating to the IT organization’s performance.
Content: Article | Authors: Aditya Pande, Christoph Schrey | Source: McKinsey Quarterly | Subjects: Corporate Governance, IT / Technology / E-Business
Global businesses are about to integrate their operations into a seamless digital whole, and thereby change the world.
Content: Article | Authors: Jesper Vedsø, Reinhard Geissbauer, Stefan Schrauf | Source: strategy+business | Subjects: IT / Technology / E-Business, Trends / Analysis
Accenture has identified five principles that will increasingly define what it means to be a responsible business in the digital economy. Companies that understand and take action on these principles will be positioned not only to manage today’s challenges but also to differentiate themselves for growth in the future.
Content: Article | Authors: Jade Siu, Kuangyi Wei, Tim Cooper | Source: Outlook Journal (Accenture) | Subjects: IT / Technology / E-Business, Social Responsibility
At the core of all stakeholder relationships involving personal data is an extraordinary degree of trust. To win that trust, companies must go beyond privacy laws and existing data control measures to embrace practices and behaviors based on the highest ethical standards.
Content: Article | Author: Steven Tiell | Source: Outlook Journal (Accenture) | Subjects: Customer Related, IT / Technology / E-Business
Transforming analytics from a “science-fair project” to the core of a business model starts with leadership from the top. Here are five questions CEOs should be asking their executive teams.
Content: Article | Authors: Ari Libarikian, Bill Wiseman, Nicolaus Henke | Source: McKinsey Quarterly | Subject: IT / Technology / E-Business
Ignore Bitcoin’s challenges. In this interview, Don Tapscott explains why blockchains, the technology underpinning the cryptocurrency, have the potential to revolutionize the world economy.
Content: Article | Author: Don Tapscott | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Trends / Analysis
A supply-and-demand guide to digital disruption.
Content: Article | Authors: Angus Dawson, Jay Scanlan, Martin Hirt | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Management, Strategy, Trends / Analysis