The Flood of Data From IoT Is Powering New Opportunities — for Some

Car Dealers Metrics KPIs Excel Dashboard

Car Dealership KPIs Excel Dashboard Methods to simply make an actual great Car Dealership Metrics KPIs Dashboard with Microsoft Excel Building Car Dealers KPIs Metrics Excel Dashboard Report: A great many professionals realize it’s tough to do just because they … Continued

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Car Dealers Metrics KPIs Excel Dashboard

Automobile Dealers Metrics and KPIs Excel Report

Metrics and KPIs Excel Dashboards for Automobile Dealers This is the way to come up with Key performance indicators Excel Dashboard for Automobile Dealer Business Formulating Automobile Dealers KPIs and Metrics Excel Report: Numerous professionals feel that it is tricky … Continued

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Automobile Dealers Metrics and KPIs Excel Report

Inventory Management KPIs and Metrics Excel Dashboard Report

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Inventory Management KPIs and Metrics Excel Dashboard Report

Logistics Metrics KPIs Reports in Excel

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Logistics Metrics KPIs Reports in Excel

Supply Chain Metrics and KPIs Dashboard in Excel

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Supply Chain Metrics and KPIs Dashboard in Excel

Ambulatory Health Care Services Metrics KPIs Excel Dashboard Templates

KPIs Excel Dashboard Templates for Ambulatory Health Care Services Management     Ambulatory Health Care Services Metrics KPIs Excel Dashboard Templates: Managing Ambulatory Health Care Services can potentially be frustrating. Exactly what causes it to become even more challenging for … Continued

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Ambulatory Health Care Services Metrics KPIs Excel Dashboard Templates

Air Couriers and Cargo Services Metrics KPIs Excel Report

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Air Couriers and Cargo Services Metrics KPIs Excel Report

Agriculture KPIs Metrics Excel Dashboard

Excel Dashboard Templates System for Agriculture KPIs Metrics Here is how to generate KPI Excel Dashboard for all your Agriculture     Agriculture KPIs Metrics Excel Dashboard: Working with Agriculture may easily end up extremely overwhelming. Truth is that Agriculture … Continued

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Agriculture KPIs Metrics Excel Dashboard

Agribusiness KPIs and Metrics Excel Dashboard

Excel Dashboard for Agribusiness KPIs and Metrics Ideas on how to without difficulty build an absolute great Agribusiness KPIs Metrics Excel Dashboards Agribusiness KPIs and Metrics Excel Dashboard: Coping with Agribusiness is going to become definitely complicated.     What … Continued

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Agribusiness KPIs and Metrics Excel Dashboard

Advertising, Marketing and Public Relations Metrics and KPIs Excel Report

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Advertising, Marketing and Public Relations Metrics and KPIs Excel Report

Administrative and Support Services Metrics and KPIs Excel Dashboards

KPIs Excel Dashboards for Administrative and Support Services Metrics “This is the way to build KPI Dashboard in Excel for the Administrative and Support Services Business” Administrative and Support Services Metrics and KPIs Excel Dashboards: Monitoring Administrative and Support Services … Continued

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Administrative and Support Services Metrics and KPIs Excel Dashboards

Accounting Metrics KPIs Dashboard Report in Excel

Metrics KPIs Dashboard Report in Excel for Accounting Management     Simple methods to incredibly easily generate a great Accounting Metrics and KPIs Dashboard with Excel Establishing Accounting KPIs and Metrics Dashboard for Excel: Many professionals discover that it is … Continued

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Accounting Metrics KPIs Dashboard Report in Excel

Accommodation KPIs and Metrics Excel Reports

KPIs and Metrics Excel Reports for Accommodation Businesses Guidelines on how to almost instantly generate your successful Accommodation KPIs Metrics Excel Report     Setting up Accommodation Metrics and KPIs Dashboard for Excel: Countless executives find it very hard to … Continued

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Accommodation KPIs and Metrics Excel Reports

Exploding myths about the gig economy

A survey of 8,000 respondents in the US, UK, Germany, Sweden, France and Spain find existing statistics severely underestimate the size of the gig economy, write Jacques Bughin and Jan Mischke in Vox EU
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The ascendancy of international data flows

Global flows of goods, services, finance, people, and data have raised world GDP by at least 10% in the past decade, write Jacques Bughin and Susan Lund in Vox EU.
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How to build an alliance against corporate short-termism

Executives have more room than they realize to stand together with sophisticated investors to maintain focus on long-term value creation.
How to build an alliance against corporate short-termism

Hiring Sales People: Good Hiring Makes Good Sales People

Hiring Sales People: How to Implement Good Hiring Practices for Selecting The Right Sales People Hiring sales people – Since the majority of sales applicants are experienced when it comes to selling themselves just to everyone, cutting with the effectiveness … Continued

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Hiring Sales People: Good Hiring Makes Good Sales People

How to Better Innovate in your Business

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How to Better Innovate in your Business

Three snapshots of digital transformation

Financial services, food retailing, and pharma are reinventing themselves in different ways.
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Discussions on digital: How strategy is evolving—and staying the same—in the hypergrowth digital age

Strategy is evolving in unexpected ways, as Silicon Valley thought leaders discuss in McKinsey’s latest Discussions on Digital podcast.
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Incumbents are now asking if digital is a threat to or an opportunity for their business model. Beyond operational efficiency, they will need to focus on excellence in execution.
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Managing With Immature AI

The growth opportunity for private health-insurance companies

The global market for private health insurance is being disrupted—but also growing rapidly. Understanding the forces at work can help payors capture the opportunity.
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Education KPIs Metrics Examples – Academia, Research And Training KPIs And Metrics

Academia, Research And Training KPIs Examples Examples of metrics and key performance indicators for training, teaching, academia, education….     Percent of online programs Percent of programs which are web-based primarily and also web developed   Student vs teacher rate … Continued

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Education KPIs Metrics Examples – Academia, Research And Training KPIs And Metrics

What Managers Need to Know About Artificial Intelligence

Nonfinancial risk today: Getting risk and the business aligned

Both must be deeply involved to avoid costly errors.
Nonfinancial risk today: Getting risk and the business aligned

Seizing India’s capital-goods opportunity

India’s domestic capital-goods sector is under-developed, weighed down by low investment in technology and talent. That may be changing.
Seizing India’s capital-goods opportunity

Hotel KPIs Examples Metrics for Hotel Management

Hotel KPIs Examples Hotel Management Metrics And KPIs Examples   Percent of local guests Number of local guests divided by the total number of guests. This particular ratio works well for planning promotional campaigns by region in order to achieve … Continued

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Hotel KPIs Examples Metrics for Hotel Management

KPI Examples: What is a Key Performance Indicator Templates Reports

What is a KPI? KPI Examples Reports Templates and Guides: Evaluate your overall performance towards important business goals     Definition Key Performance Indicator Any Key Performance Indicator is usually a quantifiable value which shows exactly how successfully a business … Continued

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KPI Examples: What is a Key Performance Indicator Templates Reports

The Heavy Toll of ‘Always On’ Technology

Staying ahead on cyber security

Is your company an easy target for hackers? Even those making progress must keep moving to protect their digital assets.
Staying ahead on cyber security

Personalizing at scale

For the first time, marketers have the tools to deliver personalized marketing to millions of customers. Here’s how you can put them to work.
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Realizing the potential of CRISPR

Three healthcare executives share industry perspectives on the future of genome editing.
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Companies Brace for Decade of Disruption From AI

The EU data-protection regulation—compliance burden or foundation for digitization?

Enhanced data protection creates a challenge, but it also offers a catalyst for digitization.
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Who should pay for support functions?

Traditional allocation of support-function costs isn’t working well, executives say. They need a better way to foster value-conscious decisions without creating too much complexity.
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Leading a corporate transformation

Lessons from an executive who has done so three times in the past dozen years.
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How to Create Trust With Your Team

How to Create Trust: Major Elements resulting in a higher level of trust in your business     Acknowledge excellence Acknowledgement gets the biggest impact on trust whenever it takes place just after some sort of goal is achieved, when … Continued

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How to Create Trust With Your Team

Common Mistakes Made By Managers

Top Mistakes Made By Managers In Leading Team And Employees Probably the most crucial features of becoming a great manager will be empathy – along with the capability to recognize and respond appropriately to the employees’ thoughts when they’re shown. … Continued

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Common Mistakes Made By Managers

Becoming Successful Manager Is All About Asking Good Questions

Are You Asking The Right Questions? How will you professionally become more strategic being a manager? Think about asking you as well as your team these questions listed below to push transparency, positioning, plus strategic understanding.     The actual … Continued

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Becoming Successful Manager Is All About Asking Good Questions

Free Webinar, Jan. 24: Building a Business Creation Engine

Recent research published in MIT SMR suggests that most new business models in established companies follow a consistent path, beginning with the creation of the model/business unit, then shifting to sustaining and growing the business, and ultimately moving to wringing efficiency from it. Understanding these steps is crucial to creating a successful process for repeated business model innovation.

On Jan. 24, MIT SMR coauthors Clayton M. Christensen and Derek van Bever will discuss their recent article, “The Hard Truth About Business Model Innovation,” in a live webinar. The authors will explain how an understanding of the stages of business model creation allows leaders to correctly categorize the innovation opportunities they are considering in terms of their fit with the company’s existing structure and priorities.

Register to watch live or receive the on-demand recording.

In the webinar, the authors will discuss:

• The three stages of business model development, and how interdependencies among business model elements change over time
• How to evaluate the fit between an opportunity and an existing business
• Why a company should focus on creating new business models, rather than changing existing ones
• How to turn an event — the act of creating a new business and a new business model — into a repeatable process

Register to watch live or receive the on-demand recording.

Free Webinar, Jan. 24: Building a Business Creation Engine

Why the Human Voice Is the Year’s Most Important Technology

Meeting millennials where they shop: Shaping the future of shopping malls

The traditional shopping mall is under threat. Here is how to meet the needs of digital customers.
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Article with Form

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Automating Supply Chain Resilience Should Be High on Your Digital Agenda

Measuring B2B’s digital gap

B2B companies fall short of their B2C counterparts in key areas of our Digital Quotient assessment.
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The value premium of organic growth

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Engaging customers: The evolution of Asia–Pacific digital banking

Consumers across the region are adopting digital banking. Our latest study finds banks must act quickly to take full advantage.
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Tailoring your integration approach to specific deals

Every merger or acquisition is different, yet many companies stick to the same integration playbook. Here’s how to tailor your approach.
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When the Luddites Fought Back

Cutting Business Costs And Creating Trust At The Same Time

Creating Trust With Employees When Cutting Costs in Your Business Cutting Business Costs: Organizational restructuring projects may have a devastating impact on the actual minds and hearts for workers, impacting people who remain along with individuals who are fired. Within … Continued

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Cutting Business Costs And Creating Trust At The Same Time

Excel Dashboard Tips: How Excel Dashboards Can Easily Trick You

Excel Dashboard Tips For Management: The Main Reasons Why You Are Not Getting The Most Out Of Your Excel Dashboard   Excel Dashboard Tips: Managers really like excel dashboards. One-page overview for business processes, sales metrics, together with KPIs or … Continued

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Excel Dashboard Tips: How Excel Dashboards Can Easily Trick You

An Easy Way to Encourage Employees to Follow Company Rules

An ‘Uber’ for Chinese e-commerce

Logistics companies are struggling to match delivery capacity to fluctuating demand. A new social-media platform could help.
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Straight talk about gender diversity in the boardroom and beyond

In these interview excerpts, leaders describe their efforts at promoting gender equality on boards and explore the challenges that still linger.
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How to accelerate gender diversity on boards

Slow progress in adding more women to boards has dominated the conversation. But tips from standout companies are more likely to inspire others to take firmer action.
How to accelerate gender diversity on boards

We can't undo globalization, but we can improve it

While the impulse to erect trade barriers is understandable, it is not the way to create lasting growth and shared prosperity, write Gary Pinkus, James Manyika and Sree Ramaswamy in Harvard Business Review.
We can't undo globalization, but we can improve it

Creating a ‘smart city’ from the ground up in India

Palava shows a future that may work.
Creating a ‘smart city’ from the ground up in India

Why Bad Management Practices Persist

Conventional wisdom tells us that good companies with good strategies and practices compete with — and replace — bad companies and their bad strategies and practices. The late economic historian Douglass C. North, who won the 1993 Nobel Prize in Economics, argued that over time, “inefficient institutions are weeded out, efficient ones survive, and thus there is a gradual evolution of more efficient forms of economic, political, and social organization.” In other words, the assumption is that bad strategies and practices die out with the bad companies.

If that is true, London Business School Professor Freek Vermeulen asks in this short video, then why do so many of what he terms “stupid” management practices persist?

Just like viruses in nature, Vermeulen suggests harmful management practices or “corporate viruses” thrive in particular kinds of conditions. Drawing on a variety of colorful examples and his own research, Vermeulen lays out three conditions that allow bad management practices to thrive, suggests how to avoid them, and presents one simple action that organizations can take to open their doors to innovation and competitive advantage.

Why Bad Management Practices Persist

Harnessing automation for a future that works

Automation is happening, and it will bring substantial benefits to businesses and economies worldwide, but it won’t arrive overnight. A new McKinsey Global Institute report finds realizing automation’s full potential requires people and technology to work hand in hand.
Harnessing automation for a future that works

The alliance shuffle and consolidation: Implications for shippers

McKinsey was invited to give a keynote speech at the October 2016 TPM Asia conference, in Shenzhen. Steve Saxon spoke to an audience of shippers and shipping lines on their sector’s recent changes.
The alliance shuffle and consolidation: Implications for shippers

How to win in the age of analytics

There’s greater potential in big data. What’s ahead as the field matures?
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Using talent management to create value

You’ve got great people—but are you realizing their potential? CEO.works founder Sandy Ogg explains why companies must link talent to value, and what that means for the role of HR.
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Engineering the switch to digital

The CIO of ING Bank discusses the importance of top engineering talent and agile ways of working when it comes to digitizing products and processes.
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ING’s agile transformation

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From the Archives: Establish a Personal Advisory Board

ME-1877 Article Sign Up Promo Test

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How to successfully launch a rare disease drug in a patient-centric world

While all drug launches are complex, launches of rare disease treatments are particularly so. Our experience suggests that companies that launch rare disease treatments must excel in four areas.
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How to tame rising US healthcare costs

Improving the sector’s productivity and market functioning could potentially lower healthcare-cost inflation to the rate of GDP growth.
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A smart home is where the bot is

Within a decade, our living spaces will be enhanced by a host of new devices and technologies, performing a range of household functions and redefining what it means to feel at home.
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Rethinking pharma productivity

Many companies’ efforts to do more with less have stalled. Six situations present opportunities for executives to reignite programs that optimize efficiency and cost.
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How to Monetize Your Data

IoT and Developing Analytics-Based Data Products

In their recent MIT Sloan Management Review article, “Designing and Developing Analytics-Based Data Products,” authors Thomas H. Davenport and Stephan Kudyba note that a large variety of data products now enhance the consumer experience. LinkedIn’s “People You May Know” feature is one example. So, too, is Zillow’s Zestimate, which uses publicly accessible housing data to predict what price a homeowner might get for the sale of his or her house.

But as ubiquitous as this kind of incorporation of data and analytics into the consumer experience now feels, relatively little has been written about the process of developing these new generations of data products, say Davenport and Kudyba. They’re changing that.

To find out what leading companies are actually doing in the field to create, refine, and generate value from data products, Davenport and Kudyba interviewed data scientists, met with representatives from large companies that are exploring data- and analytics-based products and services (including State Street Corp., GE, Monsanto, the World Bank, Thomson Reuters, and Caterpillar), and interviewed managers at more than 40 companies that had some data product development activities underway.

The result is a model by Davenport and Kudyba of seven steps that companies go through in the development of data products. Taking their lead from a 1996 article by Marc H. Meyer and Michael H. Zack that outlined specific steps in designing and developing information products, Davenport and Kudyba have augmented and updated the Meyer-Zack model. “Data product development activities today are rarely undertaken in a traditional product development sequence that involves identifying the need, developing the product, and then taking it to market,” they write. “Rather, product development activities often take place in a continuous, iterative fashion, with the important activities conducted in parallel.” The sequence also includes a few new steps that they have identified.

On Dec. 1, 2016, Davenport, the President’s Distinguished Professor of Information Technology and Management at Babson College and a Fellow of the MIT Initiative on the Digital Economy, and Kudyba, an associate professor of Business Analytics and MIS at the Martin Tuchman School of Management at the New Jersey Institute of Technology, participated in a webinar expanding upon what they found and how other companies can get into the business of data-based products and services. The webinar was hosted by MIT Sloan Management Review and made possible with sponsorship support from Xively. It was moderated by Steven Paul, a contributing editor at MIT SMR, and highlighted on Twitter at the hashtag #MITSMRevent. Among the speakers’ key points:

Information in the “data economy” is “the new oil.” Davenport said that like oil, information “needs some work — it needs to be refined and distributed and consumed.” Many organizations will want to monetize their vast data assets like companies monetize oil, he said, “and the key way to do that is to create some data and analytics-based products and services.”

There are a broad number of ways for organizations to monetize data. Davenport and Kudyba listed six strategies: selling data directly to customers; selling “data products” with analytics to customers; embedding data and analytics into new or existing products and services; attracting online customers and employing an advertising-based model; providing access to platforms with various types of data; and improving internal business processes with data and analytics.

Much of today’s data economy is centered around using data to help customers make better decisions. Davenport said that where data and analytics have been used in the past primarily for internal company decision making, in the data economy, more organizations are asking how they can develop products and services based on data and analytics that are of value to their customers — taking an external perspective on these capabilities. “A number of organizations don’t yet have the maturity, I guess, to actually charge for these products and services,” said Davenport, “but it’s pretty easy to use them to catch eyeballs — to attract and keep attention. And since many online business models are based on advertising, that can lead to a monetary good as well.”

“The model for this idea of data products really comes from the online industry,” said Davenport. “Google, of course, has a whole host of data products, starting with Search and going into some advertising-oriented ones, and more narrow ones like Google Books and Google Maps and Google Scholar.” Other examples he listed include LinkedIn’s People You May Know and Jobs You May Like features; Netflix’s Cinematch; Zillow’s Zestimates; and Facebook’s People You May Know.

Data products for consumers have also moved off-line, with products such as Google’s Nest thermostat. Other off-line examples include the relationship between Fitbit and health insurance companies, which offer discounts for using the fitness tracker; Adidas’ smart soccer balls, which provide instant feedback on a kick’s power, spin, and trajectory; and Phillips’ smart toothbrush, which tracks how often and how long a user brushes and coaches users on spots that they’re missing.

Data products have moved into consumer services, such as the insurance company Progressive’s voluntary “Snapshot” program. The program, which is available in most states in the United States, tracks and reports a customer’s driving behavior through data such as a car’s speed, braking, time traveled, and distance. “About a third of Progressive’s new customers seem perfectly willing to have their insurance company spying on them in exchange for substantial discounts if you’re a good driver,” said Davenport — the program yielded about $2 billion in premiums in 2013. The sensors also can monitor car movements that could be related to maintenance issues, and could be able to identify, for instance, a car’s need for a front-end alignment. “You can start to imagine how, although it’s very early days for this, that the IoT and its various forms could be a fantastic way to start to develop some new products and services that you could offer to customers. We’re just seeing the beginnings of that with Progressive.”

Today’s manufacture of information products requires two new steps compared with development 20 years ago. Kudyba explained that the 1996 Meyer-Zack model for the manufacture of information products was composed of five information processing steps: acquisition, refinement, storage/retrieval, distribution, and presentation. Kudyba and Davenport’s research shows that the manufacturing process in today’s era of big data requires a new initial step of conceptualizing the project and a new concluding step of extracting market feedback. This last step is easier than ever before, because there are so many ways to keep in touch with the ultimate consumer. It’s also necessary, Kudyba said, to make sure the product adds actual value to the customer. The model is a closed loop, too: “It cycles,” Kudyba said. “It never really stops. Given the potential of the value of information products, this should be an ongoing process for many organizations in this big data era.”

Conceptual modeling, the first step of data product development, is essentially “the art of analytics.” Conceptual modeling entails an organization’s ability to perceive and facilitate a market need for information, Kudyba said. This has three requirements: knowing where new data resides that can produce a product of value; having a skill base to know whether the data can be processed and analyzed properly; and structuring available data sources to form a coherent product. “There are so many data sources out there, whether it’s structured or unstructured, streaming data, what have you,” said Kudyba. “You’ve got a science of analytics, and an art of analytics, and I like to focus on the art, because not too many people do these days. What I consider the art of analytics is thinking about all the data sources that are out there, and identifying variables that really add value — to models, to information, or to data products.”

In the conception stage, organizations should focus on a metric of interest to their market. “When you identify that metric of interest, then it simplifies the creation of the data product,” said Kudyba. “I say the same thing when you’re doing data mining: ‘think first, analyze later.’” Thinking first means figuring out what you want to better understand. If you can identify the hot metric and then source the right data for variables that impact that metric, “now you’ve got a really cool data product.”

Closing tips: How can organizations be most successful in the data economy? Davenport and Kudyba closed their presentation with quick tips for how to be successful in the data economy with the IoT. Their list: Get some good data. Make sure you have rights to it. Develop strong integration, cleaning, and analytics capabilities. Try them out on yourself first. Understand your customers’ decision needs and processes. Add some automation. Prevent security/privacy problems. Address pricing/bundling/terms issues. And handle any conflicts with your existing business. “Some companies said to us, ‘these data products are the pirate ship, they’re not the mother ship, and we don’t want them to cannibalize the mother ship,’” noted Davenport. That means being clear about how new data products and services might affect your existing business in ways that are both challenging and exhilarating.

IoT and Developing Analytics-Based Data Products

What is Inventory Control Management System?

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What is Inventory Control Management System?

Common Warehouse Inventory Issues

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Common Warehouse Inventory Issues

Reinventing the workplace for greater gender diversity

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How to Measure Marketing Effectiveness

Outsourcing Plan Development Examples and Tips

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Outsourcing Plan Development Examples and Tips

Finding hidden leaders

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How activist investors are transforming the role of public-company boards

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How to Calculate Manufacturing Overhead Costs

What can we expect in China in 2017?

Provided geopolitical movement doesn’t derail his best laid predictions, Gordon Orr sees a year of slowing economic growth, headaches for multinationals, demographic anxiety, and buyer’s remorse for soccer tycoons.
What can we expect in China in 2017?

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Absorption Costing vs Variable Costing Examples Templates

Comparative Balance Sheet Analysis Templates and Examples

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Comparative Balance Sheet Analysis Templates and Examples