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- The evolution of technology is the driving factor for digital disruption and we are no
where close to be done
- It is started with Internet->mobile->Social->Cloud->Big Data Analytics->IOT->Dumb
Robots->Cognitive Systems->3D printing and we are heading towards Renewable
Energy->Autonomous Robots, Self driving cars, smart cities, smart homes, connected
healthcare
- Enterprise environment transform to an everchanging, dynamic environment: cloud
application, mobility, private data cloud center, from data to insight, global complexity,
and connectivity
- Five Converging Trends: Mobility (the use of mobile phone really high) , Cloud – Apps
& Data Center (workload will be much in cloud), Data – structured&unstructured
(mostly unstructured), identities (personal and impersonal line are blurring), IoT
(significant increase)
- Threats: frequency and duration are increasing, increased detected IT security incident,
increased theft of intellectual property, almost every incident including human error,
and digital extortion on the rise.
- Disruptive technologies:
• McKinsey Global Institute (2013) ‘disrupt the status quo, alter the way people live
and work, rearrange value pools, and lead to entirely new products and services’
• Christensen (1997) technology evolves through quality improvements to inferior but
low-priced products. Disruptors ‘sneak’ into an existing market and compete directly
with incumbents.
- Digital disruption: Rapid advances in computing power, connectivity, mobility and data
storage capacity
- Data explanation: sets of values or information that contain quantitative and qualitative
variables. Data are measured, collected and reported, and analyzed where can be
visualized using images, graphs, or other analysis tools.
- Data have three characteristics: velocity, system impact, and scope.
▪ Supply/demand mismatch
- 6 Disruptive Models
• Business model enabled by orthogonal data: Orthogonal data will rarely replace the
data that are already in use in a domain; it is more likely that an organization will
integrate orthogonal data with existing data.
• Hyperscale, real time matching: Digital platforms provide marketplaces that connect
sellers and buyers using data and analytics in real time and on an unprecedented scale.
This can be transformative in markets where supply and demand matching has been
inefficient.
• Radical personalization: Data and analytics can reveal finer levels of distinctions, and
one of the most powerful uses is micro-segmenting a population based on the
characteristics of individuals.
• Massive data integration abilities: Combining and integrating large stores of data from
all of varied sources has incredible potential to yield insights.
• Data-driven discovery: data and algorithms can support, enhance, or even replace
human ingenuity in some instances. Data and analytics are helping organizations
determine how to structure teams, resources, and workflows.
• Enhanced decision making: Data and analytics can change human incompetency by
bringing in more data points from new sources, breaking down information
asymmetries, and adding automated algorithms to make the process instantaneous.
Data and Analytics resulting insights to make decisions faster, more accurate, more
consistent, and more transparent.
- Predictive Analytics: application of machine learning that effective at spotting fraud. Involves
not only forecasting but also uses such as anticipating fraud and bottlenecks or diagnosing
diseases. Helps classify customers or observations into groups for predicting value, behavior,
risk, or other metrics.
-360 degree view: Refer to their operations and customers. The insight that they gain from
such analyses is then used to direct, optimize, and automate their decision making to
successfully achieve their organizational goals
Big Data
- Definition: high volume, high velocity, and/or high variety information assets that
require new forms of processing to enable enhanced decision making, insight
discovery and process optimization (Gartner, 2013)
- Characteristics: massive quantity of data and various degree of structure in data
- Source of data: Structured (clearly defined data whose pattern make them easily
searchable) and unstructured (not easily searchable)
- Big Data Business Model Maturity Impact:
- IoT: refers to the networks created through the embedding of sensors and internet
connectivity hardware into consumer goods, public infrastructure and production
machinery.
- Functions: enables the collection of data, the automation and improvement of
production processes and infrastructure management, and the development of new
consumer goods and services
- Information Value Loop: Information gathered by the Internet of Things enables
businesses to create and capture new value by providing insight to optimize actions.
Modified actions in turn give rise to new information, starting the cycle anew. Value
drivers determine how much value is created; their relevance and importance depend
on the specific use case.
• using machine learning to code accounting entries and improve on the accuracy of
rules-based approaches, enabling greater automation of processes