We’ve blogged recently about some of the challenges in analytics and AI – How More Companies Can Maximize the Potential of Analytics and 80% of insurance carriers aren’t delivering high impact analytics – building on some great McKinsey research. They recently published another article, this time targeted at Chief Analytics Officers – Rebooting analytics leadership: Time to move beyond the [...]
mckinsey
Recently we have posted on the Decision Management Solutions blog about a couple of interesting pieces of McKinsey research that discuss the unfortunate truth – most companies are NOT succeeding with advanced analytics. First, there’s this general research How More Companies Can Maximize the Potential of Analytics: “Senior executives tell [McKinsey] that their companies are struggling to [...]
McKinsey came on stage talking about digitization. They see that different industries are at different points in the digital disruption. New trends begin and early adopters grow, start transforming mainstream companies and then a tipping point is reached where some incumbents die. So, for instance, disruption of retail banking is just starting while traditional media/video stores, for instance, [...]
There was an interesting article from McKinsey this month – The benefits—and limits—of decision models – by Phil Rosenzweig. As Phil points out using models (and he is talking about analytic models) helps avoid common biases that undermine leaders’ judgments such as over confidence, a focus on recent data etc. And I would add not just leaders – it also [...]
Big Data is a big topic these days. The combination of predictive analytics and Big Data should create new opportunities for more specific, future-oriented analysis of large amounts of data to create actionable insight. Yet most organizations are not combining predictive analytics and Big Data in this way and I think this is because they are trying [...]
Cross-posted from International Institute for Analytics There was a great article recently in the McKinsey Quarterly – The Second Economy. In it W Brian Arthur discusses the fact that Digitization is creating a second economy that’s vast, automatic, and invisible—thereby bringing the biggest change since the Industrial Revolution. It’s a good article and worth a [...]
Cross posted at International Institute for Analytics McKinsey just published a new study “Big Data: the next frontier for innovation, competition and productivity” that is definitely worth reading. With lots of detail – it runs to more than 150 pages – it discusses why there is so much more data, what that means and how [...]
