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The Economics of Data, Analytics, and Digital Transformation

You're reading from   The Economics of Data, Analytics, and Digital Transformation The theorems, laws, and empowerments to guide your organization's digital transformation

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Product type Paperback
Published in Nov 2020
Publisher Packt
ISBN-13 9781800561410
Length 260 pages
Edition 1st Edition
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Author (1):
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Bill Schmarzo Bill Schmarzo
Author Profile Icon Bill Schmarzo
Bill Schmarzo
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Table of Contents (14) Chapters Close

Preface 1. The CEO Mandate: Become Value‑driven, Not Data-driven 2. Value Engineering: The Secret Sauce for Data Science Success FREE CHAPTER 3. A Review of Basic Economic Concepts 4. University of San Francisco Economic Value of Data Research Paper 5. The Economic Value of Data Theorems 6. The Economics of Artificial Intelligence 7. The Schmarzo Economic Digital Asset Valuation Theorem 8. The 8 Laws of Digital Transformation 9. Creating a Culture of Innovation Through Empowerment 10. Other Books You May Enjoy
11. Index
Appendix A: My Most Popular Economics of Data, Analytics, and Digital Transformation Infographics
1. Appendix B: The Economics of Data, Analytics, and Digital Transformation Cheat Sheet

The CEO Mandate: Become Value-driven, Not Data-driven

"Data is the new oil."

For the first time in my long tenure in the data and analytics business, the world has started to associate "value" to data. In fact, The Economist on their May 6, 2017 magazine cover declared, "The world's most valuable resource is no longer oil, but data," validating the digital future and putting an end to the way most organizations have previously regarded data in its collection, storage and associated reporting—as a necessary cost of doing business and one to be minimized, at that.

But what does "data is the new oil" really mean and how will it impact organizations?

In the same way that oil fueled the economic growth of the 20th century, data will be the catalyst for the economic growth of the 21st century. That data, including Big Data and Internet of Things (IoT) data, coupled with advanced analytics, such as Artificial Intelligence (AI...

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