The Competitive Value of Data: From Analytics to Machine Learning

Irving Wladawsky-Berger

The article noted that regulators, policy makers and academics in Europe and the US are increasingly concerned that the vast data assets of digital giants could become a competitive barrier to startups and innovation. Business analytics predates the big data era.

Design Principles for Complex, Unpredictable, People Oriented Systems

Irving Wladawsky-Berger

More specifically, they needed to learn how to approach problems from many perspectives and to combine various approaches to find innovative solutions.”. Business and business schools are supposed to be all about applying hard, that is, quantitative, analytical approaches to management. Analytical approaches work well when you have a pretty good understanding of the product you are developing or when you are dealing with a well defined problem.

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The Promise and Challenges of Health Analytics

Irving Wladawsky-Berger

On February 24 I attended a workshop in MIT on the Future of Health Analytics. In a recent paper , Ausiello notes that health analytics has the potential to become the next frontier in medicine, driven by the confluence of three key revolutions: .

The Internet, Blockchain, and the Evolution of Foundational Innovations

Irving Wladawsky-Berger

Contracts, transactions, and the records of them are among the defining structures in our economic, legal, and political systems. Blockchain has the potential to transform our economic and social systems. It has the potential to become the system of record for all transactions.

Learning and Performance Support Systems

Stephen Downes: Half an Hour

This post is to introduce you to our Learning and Performance Support Systems program, a new $19 million 5-year initiative at the National Research Council that I will be leading. Expansion internationally is difficult without a clear innovation advantage.

The Science of Complex Systems

Irving Wladawsky-Berger

When I look back over my long, relatively eclectic career, complex systems have been a common theme in all the activities I’ve been involved in. It started in the 1960s, when I was an undergraduate and graduate student at the University of Chicago majoring in physics, - the study of complex natural systems. My main research interests were centered on large computer systems, including mainframes, supercomputers and distributed systems.

The Emerging Data Economy

Irving Wladawsky-Berger

Physicists, astronomers, biologists, and other scientists and engineers were developing methodologies and architectures for dealing with very large volumes of unstructured data, as well as analytical techniques, like data mining , for discovering patterns and extracting insights from all that data.

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Becoming a Data-Driven Business: Challenges and Opportunities

Irving Wladawsky-Berger

A few weeks ago, McKinsey published The age of analytics: Competing in a data-driven world , a comprehensive report on the state of big data, and in particular, on the challenges and opportunities a company faces as it strives to become a data-driven business.

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Digital Twin: Bringing the Physical and Digital Worlds Closer Together

Irving Wladawsky-Berger

A Digital Twin is essentially a computerized companion to a real-world entity, be it an industrial physical asset like a jet engine, an individual’s health profile, or a highly complex system like a city. A few weeks ago I first learned about a relatively new concept - Digital Twin.

The Transformative Power of Cloud Computing

Irving Wladawsky-Berger

There are clearly other major technologies around us, - e.g., smartphones, IoT, analytics, AI, - but when you think about it, all of them rely on their connections to cloud-based data, applications, and services for much of their functionality. Application innovation.

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The Evolution of the Internet of Very Smart Things

Irving Wladawsky-Berger

These systems were optimized for simplicity and flexibility, and their graphical user interfaces led to many innovative applications, including the new web-based applications in the 1990s.

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The (Uneven) Digitization of the US Economy

Irving Wladawsky-Berger

Can digital innovation drive long term economic growth? Digital innovation, adoption, and usage are evolving at a supercharged pace across the US economy,” notes the report in its opening paragraph. “As Take advantage of new innovation models.

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The Continuing, Transformative Impact of IT

Irving Wladawsky-Berger

Disruptive innovations take time to play out. The social matrix, the Internet of all things, big data and advanced analytics, and realizing anything as a services are the report’s top four trends. Its potential for driving business innovation remains untapped.

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Blockchain Can Reshape Financial Services… But it Will Take Significant Time and Investment

Irving Wladawsky-Berger

wrote the WEF in a very timely message. “Over the last 50 years, technology innovation has been fundamental to financial services industry transformation. Others include biometrics, cloud computing, cognitive computing, machine learning and predictive analytics.

Learning to Apply Data Science to Business Problems

Irving Wladawsky-Berger

This past semester I was involved in an interesting course at MIT’s Sloan School of Management , - Analytics Labs (A-Lab). A-Lab’s objective is to teach students how to use data sets and analytics to address real-world business problems.

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Is Design Thinking the “New Liberal Arts”?

Irving Wladawsky-Berger

Design thinking is now being applied to abstract entities, - e.g. systems, services, information and organizations, - as well as to devise strategies, manage change and solve complex problems. Design thinking has become an increasingly popular topic of discussion over the past decade.

Reflections on Storytelling

Irving Wladawsky-Berger

It’s a good way of explaining what the new innovation is all about in as simple a way as possible. The dot-com era was famous for its many innovations, but also for its hype. Transmedia storytelling is one of the major area being pursued at the Annenberg Innovation Lab.

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Anticipating the Future of the IT Industry

Irving Wladawsky-Berger

Which hot technology innovations, - e.g., artificial intelligence, the blockchain, cloud computing, - will end up having a big impact and which are destined to fizzle? These early analytics applications dealt mostly with structured information.

The Datafication of Business and Society

Irving Wladawsky-Berger

Complex Systems Data Science and Big Data Digital Money and Payments Economic Issues Innovation Management and Leadership Society and Culture Technology and Strategy

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The Fourth Industrial Revolution

Irving Wladawsky-Berger

Systems impact : “The breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.”. These innovative offerings are restructuring industry boundaries and leading to the creation of whole new industries.

As Big Data and AI Take Hold, What Will It Take to Be an Effective Executive?

Irving Wladawsky-Berger

Big data , powerful analytics and AI are everywhere. Organizations must have a data-analytics strategy that cuts across internal informational silos and properly incorporates external information sources like social media. .

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The New Era of Smart, Connected Products

Irving Wladawsky-Berger

For the past few years, some have justifiably questioned whether innovation has been going through a period of stagnation , especially when compared to major 19th and 20th century innovations like electricity, cars and airplanes. Should the company pursue an open or closed system?; .

Skills and Jobs in the Digital Economy

Irving Wladawsky-Berger

The period from 2006 to 2014 saw the advent of several major digital innovations , including smart mobile devices, social media, big data and analytics, cloud computing and the Internet of Things. Initiative : Achievement, Independence, Initiative, Innovation, Persistence, ….

The Rise of the T-Shaped Organization

Irving Wladawsky-Berger

A growing number of articles have been extolling the value of T-shaped professionals , that is, individuals who combine deep cognitive, analytical, and/or technical skills in a specific discipline, with broad multidisciplinary, social skills.

New Tools Beget Revolutions: Big Data and the 21st Century Information-based Society

Irving Wladawsky-Berger

This is the first time in human history that we have the ability to see enough about ourselves that we can hope to actually build social systems that work qualitatively better than the systems we’ve always had. On May 22 I attended the 2013 MIT Sloan CIO Symposium.

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The Digitization of the Economy

Irving Wladawsky-Berger

It has often been said that powerful disruptive innovations like the Internet are overhyped in the short term but under-hyped in the long term. They wrote about the profound transformations brought about by ever more advanced technologies and innovations.

The Continuing Evolution of Service Science

Irving Wladawsky-Berger

This blind spot threatens to hinder the development of effective innovation policies and the development of new business models and practices…”. Analytics and Data Science.

The Growing Value of Social Skills

Irving Wladawsky-Berger

routine - degree of automation and of repetition of the same physical activity; nonroutine analytical - requirements for mathematical reasoning; service - degree of service orientation and of assisting and caring for others; and.

How Will AI Likely Impact How We Work, Live and Play?

Irving Wladawsky-Berger

Public safety and security. “One of the more successful uses of AI analytics is in detecting white collar crime, such as credit card fraud. To be successful, AI innovations will need to overcome understandable human fears of being marginalized.

Can AI Help Translate Technological Advances into Strategic Advantage?

Irving Wladawsky-Berger

Can they help increase innovation and productivity and drive long term growth? The paper brought to mind a very interesting book, Innovation - the Missing Dimension , by MIT professors Richard Lester and Michael Piore , which I used in a graduate course on business transformation.

What Will Life Be Like in an AI Future?

Irving Wladawsky-Berger

Will AI turn out like other major innovations, e.g., steam power, electricity, cars, - highly disruptive in the near term, but ultimately beneficial to society? Complex Systems Data Science and Big Data Innovation Political Issues Smart Systems Supercomputing Technology and Strategy

The Evolving Automotive Ecosystem

Irving Wladawsky-Berger

Not since the first automotive revolution has there been such stunning innovation in the industry,” notes an excellent recent KPMG report, - Me, my car, my life… in the ultraconnected age. How can today’s auto companies stay relevant and capitalize on these many digital innovations?

Why Do We Need Data Science when We’ve Had Statistics for Centuries?

Irving Wladawsky-Berger

One of the best papers on the subject is Data Science and Prediction by Vasant Dhar , - professor in NYU’s Stern School of Business and Director of NYU’s Center for Business Analytics , - which was published in the Communications of the ACM in December, 2013.

The Era of Cognitive Computing

Irving Wladawsky-Berger

In this recently released excerpt , Kelly and Hamm point out that cognitive systems represent the third era in the history of computing. And, beyond these word-oriented search engines, statistical, information-based systems are being extended in a number of directions. .

An innovative workshop on radical management

Steve Denning

In these three days ( March 19-21 in Washington DC ), you will discover how to use radical management to thrive in the 21 st Century creative economy and the world of continuous innovation. Have you ever wondered how your firm is going to survive and thrive as the world economy goes through a fundamental phase change—from industrial bureaucracy to a creative economy of continuous innovation? Why innovation happens “despite” the system, not because of it.

A Kind of Digital “Perfect Storm”

Irving Wladawsky-Berger

Some of the articles are about the creation of innovative new technologies and applications, while others are about the creative destruction such innovations leave in their wake. Each company is different, as are its reactions to major disruptive innovations.

Reflections on Big Data, Data Science and Related Subjects

Irving Wladawsky-Berger

CUSP’s research and educational programs are centered on urban informatics , - “the acquisition, integration, and analysis of data to understand and improve urban systems and quality of life.” Big Cities + Big Data and Bringing Urban Data to Life are prominently displayed in its website.

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Understanding the Workings of Our Minds

Irving Wladawsky-Berger

Advances in technology , big data and analytics hold the promise to significantly augment our judgement and expertise and help us make smarter, more effective decisions. System 1 is the intuitive, fast and emotional part of our mind.

Why Innovation is Critical to Help Governments Adjust to the Realities of the 21st Century?

Irving Wladawsky-Berger

Aligning government with 21st century economic realities will require innovations at least as disruptive and profound as those embraced by the private sector. By harnessing major technological shifts and adopting best business practices, we can not only make our government far more productive, but also foster greater innovation in areas ranging from healthcare to education and energy – innovation that will generate economic growth and job creation.”. “We

On Saving the American Health System: Dr. Donald Berwick's.

Bob Sutton

The ergonomics of innovation -- The McKinsey Quarterly. interview Pixar Brad Bird - Innovation lessons from Pixar Director Brad Bird - Strategy - Innovation - The McKinsey Quarterly. The Observer | Business | You could be a genius - if only you had a good system. Customer-Focused Innovation. David A Owens: Creative People Must Be Stopped: 6 Ways We Kill Innovation (Without Even Trying). Davenport: Competing on Analytics: The New Science of Winning.