Friday, July 17, 2020
Business Intelligence and Analytics 73
1 Data Science, Quarantined
https://sloanreview.mit.edu/article/data-science-quarantined/
The economic impact of COVID-19 is unprecedented, dramatically changing markets and prospects for economic growth. Supply chains, transportation, food processing, retail, e-commerce, and many other industries have transformed overnight. Unemployment in the U.S. has reached levels unknown in recent memory, and GDP is expected to fall around the world. As one economic journalist summed up the situation: “Nearly everything in the world is super-weird and disrupted right now.”
2 The Future of Data Analytics -Big Data Analytics News
https://bigdataanalyticsnews.com/low-code-platforms-future-of-data-analytics/
In this modern age, advancement in the field of computer sciences demands an easier approach to building new applications. Thankfully, the answer lies in low-code development. As low-coding development environment makes non-coders to develop applications without facing difficulties. The future of low-code platforms is improving which eliminates the progression of the hard side of coding. The trend of low coding is now evolving towards data sciences and analytics. It can reduce the pressure on the IT teams with minimal code. Low code reduces time, cost, and power for developing applications.
3 AI Transformation — Take Baby Steps or It Will Fail
https://medium.com/@nurit.coheninger/ai-transformation-take-baby-steps-or-it-will-fail-574b088863f
There are no shortcuts when it comes to understanding the value of AI in transforming your organization. First, assess how the benefits of this technology will meet your organization’s strategy. One way of doing this is by choosing the most frequent processes and analyzing ways to reduce costs. Another way is to look for a competitive advantage and create an enlargement of your revenuethrough automation.
4 The great acceleration
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-great-acceleration
The fault lines between industries and business models that we understood intellectually before the COVID-19 crisis have now become giant fissures, separating the old reality from the new one. Just as an earthquake produces a sudden release of pent-up force, the economic shock set off by the pandemic has accelerated and intensified trends that were already underway. The result is a dramatic widening of the gap between those at the top and the bottom of the power curve of economic profit 1 —the winners and losers in the global corporate-performance race.
5 Technology in the Pandemic: Recreate the Office or Repurpose It?
https://sloanreview.mit.edu/article/technology-in-the-pandemic-recreate-the-office-or-repurpose-it/
In the office, we socialize on the fly, flit from meeting to meeting seamlessly, and establish routines and patterns that not only work for us but jell with those of others. One of the important decisions that managers confront now, as working remotely becomes standard practice, is how to use technology to recreate these dynamics. Should they attempt to replicate life as it was in brick-and-mortar offices, or does the drastic switch to virtual work necessitate that they try something different?
6 Speaking Truth to Power 2.0 — Taking a Stand as an Agile Practitioner
https://www.business2community.com/strategy/speaking-truth-to-power-2-0-taking-a-stand-as-an-agile-practitioner-02327345
Do you need an emergency fund as a change agent—whether you are acting as Scrum Master, Product Owner, or agile coach—because conflict is inevitable, but change is not? Speaking truth to power probably comes at a price.
In my experience, speaking truth to power, pointing at the emperor’s new clothes and the reality in the trenches, is necessary a trait for every change agent — including Scrum Masters and agile coaches — in organizations that lack strong leadership.
7 Unlocking enterprise efficiencies through zero-based design
https://www.mckinsey.com/business-functions/operations/our-insights/unlocking-enterprise-efficiencies-through-zero-based-design
Across virtually every industry, startups are gaining ground, if not disrupting the status quo, with new operating models that allow them to design, test, and scale better products and services, faster than ever. This ability has raised customer expectations, putting added pressure on incumbent businesses.
Of course, startups have an innate advantage: a clean slate from which to design operations and processes. Incumbents, on the other hand, contend with rigid and ingrained processes and systems, and a well-worn, usually siloed, organizational structure that slows decision making.
8 How to choose between a Linear or Nonlinear Regression for your dataset
https://towardsdatascience.com/how-to-choose-between-a-linear-or-nonlinear-regression-for-your-dataset-e58a568e2a15
Any Data Scientist starts their journey with regression analysis because it forms the basics of all predictive modeling and one can easily connect with the math and stats behind the scenes which is essential for any Machine Learning model. It is also necessary to know the different varieties of regression techniques to implement on your dataset to attain good accuracy with minimum error rate
9 ANOVA vs Regression in One Picture
https://www.datasciencecentral.com/profiles/blogs/anova-vs-regression-in-one-picture
If you scour the internet for “ANOVA vs Regression”, you might be confused by the results. Are they the same? Or aren’t they? The answer is that they can be the same procedure, if you set them up to be that way. But there are differences between the two methods. This one picture sums up those differences.
10 Lean management or agile? The right answer may be both
https://www.mckinsey.com/business-functions/operations/our-insights/lean-management-or-agile-the-right-answer-may-be-both
Has there even been a time when customers were more demanding of the companies serving them? Industry 4.0 technologies—many barely imaginable only a decade ago—have already enabled genuine breakthroughs in cost, convenience, and customization, creating extraordinary value for buyers while raising the performance bar for producers ever higher.
