Friday, June 26, 2020
Business Intelligence and Analytics 70
1 A Crisis Like No Other, An Uncertain Recovery
https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020
Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4 percent. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-COVID-19 projections of January 2020. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme poverty in the world since the 1990s.
2 It’s Time to Rethink How You Innovate
https://knowledge.wharton.upenn.edu/article/time-rethink-innovate/
The intense innovation activity ignited by the global pandemic shows that some elephants can dance when they must. Companies are moving faster and taking bigger risks than could have been imagined a few months ago. A further impetus to rethinking established and cumbersome innovation approaches is the acceleration of many trends that are already underway. The lock-down has brought forward a shift to on-line work practices and team-sharing platforms while creating new opportunities.
3 Don’t Let Your Strategy Be Hijacked
https://sloanreview.mit.edu/article/dont-let-your-strategy-be-hijacked/
Our research explores the underlying causes of strategy hijacks, the changing nature of consumer-company dynamics, and resulting implications for leaders. Together, our findings suggest a fundamental shift in power dynamics in the realm of strategy stemming from technological and social developments that have changed how companies and customers interact. Thanks to the connectedness of social media, it’s becoming much easier for consumers to unite against companies— and thanks to the transparency of widely available data, it’s now also much easier for consumers to keep an eye on company behaviors.
4 Leaders are building new muscles to deal with the pandemic
https://www.strategy-business.com/blog/Leaders-are-building-new-muscles-to-deal-with-the-pandemic?gko=7a303
And starting in May, across the many interviews I’ve been conducting with senior leaders, I’ve heard more optimism in their voices — a sense that their companies were settling into a new normal, and that for all the health and economic damage the pandemic has caused and all the uncertainty that remains, they were seeing positive developments in the cultures of their companies.
A big reason for this shift is that the practice of certain core leadership skills that everyone knows are important (yet many struggle to implement) is suddenly becoming a daily habit. Leaders are building new muscles and seeing an immediate payoff in three key areas.
5 3 Approaches to Market Research That Won’t Break the Bank
https://www.business2community.com/strategy/3-approaches-to-market-research-that-wont-break-the-bank-02321032
There is a common misconception when conducting market research that it is extremely costly. This may have been true when the industry first grew in popularity, but with the rise of technology market research has become accessible to both small businesses and Fortune 500 companies.
With marketing research, you are never short of options. Not only are there hundreds of methodologies to choose from, but there are also differences in how you approach these methods.
6 10 Best Practices For Business Intelligence Dashboards
https://www.smartdatacollective.com/10-best-practices-for-business-intelligence-dashboards/
Business intelligence (BI) dashboards are increasingly used by companies around the world. If you use one or intend to, knowing some business intelligence best practices can help you avoid pitfalls.
Here are 10 business intelligence best practices to follow as you design a dashboard and choose which information to display.
7 How Intelligent Is Your AI?
https://sloanreview.mit.edu/article/how-intelligent-is-your-ai/
In a world where buzzwords come and go, artificial intelligence has been remarkably durable. Since it first emerged as a concept in the 1950s, there has been a relatively constant flow of technologies, products, services, and companies that purport to be AI. It is quite likely that a solution you are investing in today is being referred to as AI-enabled or machine-learning-driven. But, is it really?
8 Do You Know What Your Business Is Worth? Think Again
https://knowledge.wharton.upenn.edu/article/know-business-worth-think/
The Organization for Economic Cooperation and Development (OECD) noted this week that the COVID-19 pandemic has “triggered the most severe recession in nearly a century.” As a result, company valuations are plummeting, making it even more important for business owners to understand what really drives the value of their businesses.
This challenge is exacerbated as businesses continue to work through their digital transformation, a process that can cloud leaders’ understanding of where their business’ value is derived.
9 10 essential ways to evaluate Machine learning model performance
https://medium.com/@niwratti2019/10-essential-ways-to-evaluate-machine-learning-model-performance-6bf6e11f9502
The goal of a machine learning model is to learn patterns that generalize well on unseen data instead of just memorizing the data that it was trained on. When your model is ready, you would use it to predict the answer on the evaluation or test data set and then compare the predicted target to the actual answer (ground truth). This is a typical approach that is followed to evaluate model performance. However this comparison between predicted and actual values is performed based on a number of different metrics. The choice of actual metric depends on the ML problem in hand.
10 Time Complexity: How to measure the efficiency of algorithms
https://www.kdnuggets.com/2020/06/time-complexity-measure-efficiency-algorithms.html
In computer programming, as in other aspects of life, there are different ways of solving a problem. These different ways may imply different times, computational power, or any other metric you choose, so we need to compare the efficiency of different approaches to pick up the right one.
Now, as you may know, computers are able to solve problems based on algorithms.
Algorithms are procedures or instructions (set of steps) that tell a computer what to do and how to do it.
11 The explosion of ‘alternative’ data gives regular investors access to tools previously employed only by hedge funds
http://www.marketwatch.com/story/the-explosion-of-alternative-data-gives-regular-investors-access-to-tools-previously-employed-only-by-hedge-funds-2019-09-05
“Alternative data” is going mainstream as fund managers are projected to spend more than $1 billion this year to beat the market averages and stave off the rise of low-cost passive investing.
The explosive growth in the amount of alternative data sets — an array of information gleaned from the web, satellites and even consumers’ wallets — hasn’t proved to be a panacea. But what was once considered the domain of quantitatively oriented hedge funds and other well-heeled investors has become a must-have for traditional asset managers struggling to deliver market-beating returns.
12 Lyft releases new self-driving vehicle data set and launches $30,000 challenge
https://venturebeat.com/2020/06/25/lyft-releases-new-self-driving-vehicle-data-set-and-launches-30000-challenge/
Following the release of the Perception Dataset and the conclusion of its 2019 object detection competition, Lyft today shared a new corpus — the Prediction Dataset — containing the logs of movements of cars, pedestrians, and other obstacles encountered by its fleet of 23 autonomous vehicles in Palo Alto. Coinciding with this, the company plans to launch a challenge that will task entrants with predicting the motion of traffic agents.
13 The Most Powerful Thing that Improves Spreadsheet Forecasting
https://towardsdatascience.com/the-most-powerful-thing-that-improves-spreadsheet-forecasting-447d6168e5d6
I was falling asleep in one most boring project management workshops I have ever attended. The topic had turned to forecasting budgets and schedules when the instructor suddenly asked, “How many of you have ever taken a proofreading class?” No hands in the air. The next question was more rhetorical and went something like “most of you will be doing most of the time is reviewing and proofreading, yet you have never been trained in it?” It had the desired effect — over the next few years, I took several classes in proofreading textual documents, plans & specifications, and spreadsheets.
14 How to Sustain Your Organization’s Culture When Everyone Is Remote
https://sloanreview.mit.edu/article/how-to-sustain-your-organizations-culture-when-everyone-is-remote/
Within just a few weeks earlier this year, the COVID-19 pandemic triggered a massive shift to remote work that may change the office as we know it forever. Many large companies are urging employees to work from home for months to come, and some CFOs are making plans to shed office real estate and permanently move some portion of their workforces to remote working.
15 Demystifying modeling: How quantitative models can–and can’t–explain the world
https://www.mckinsey.com/business-functions/risk/our-insights/demystifying-modeling-how-quantitative-models-can-and-cant-explain-the-world
Forward-looking models aren’t new. They have long played an important but unseen role in day-to-day life—for instance, in pricing homeowners’ insurance, anticipating the weather, and deciding how many iPhones to manufacture. However, in the COVID-19 pandemic, the scale of impact and the level of uncertainty have introduced new challenges—and notoriety—for modelers.
16 Airlines leverage AI, machine learning and blockchain to save costs and generate new revenues
https://www.canadianmanufacturing.com/technology/airlines-leverage-ai-machine-learning-and-blockchain-to-save-costs-and-generate-new-revenues-255672/
Frost & Sullivan’s recent study, Analysis of the Global Airline IT Market, Forecast to 2025, finds that the increasing expectations of passengers are compelling airlines to embrace digital enablers and propelling a digital transformation journey that will fundamentally change traditional airline information technology (IT) strategies.
