Friday, July 3, 2020
Business Intelligence and Analytics 71
1 12 Essential Strategy Insights
https://sloanreview.mit.edu/article/12-essential-strategy-insights/
“Strategy, at its heart, is about choice,” write the authors of “Turning Strategy Into Results,” an article featured below, which takes a keen look at how leaders translate the complexity of strategy into guidelines that are simple and flexible enough to execute.
A winning strategy for an organization is not based on an individual choice but an expansive, countless number of decisions happening every day across all parts of a business — product, customers, technology capabilities, and more.
2 US food supply chain: Disruptions and implications from COVID-19
https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/us-food-supply-chain-disruptions-and-implications-from-covid-19
Until early 2020, consumer spending on food in the United States had been remarkably stable, growing by around 4 percent over the previous five years. Total sales were roughly split evenly between retail outlets (such as grocery stores and supermarkets) and food-service companies (such as restaurants, hospitals, and schools). And until February, revenues were continuing in the same direction.
3 Warehouse Management System Benefits
https://www.datasciencecentral.com/profiles/blogs/warehouse-management-system-benefits
The supply chain management software market is divided into several branches by types of industries, products and regions it serves for. It is segmented into consumer goods, healthcare and pharmaceuticals, retail, manufacturing, food and beverages, transportation and logistics, and others.
Logistics is a wide branch of the supply chain where each operation plays an important role and influences the quality of customer service. It is very closely related to transportation, warehousing, and inventory management. Under logistics we understand Inbound and Outbound logistics. The first is all about sourcing and receiving materials that are coming into a business from suppliers. The second is transporting, warehousing, packaging goods going out of a business, a manufacturer who produces and provides end-clients with certain products.
4 Traders thought Apple had ‘the holy grail’ of oil data, but the quest continues
https://www.reuters.com/article/us-global-oil-apple-data-idUSKBN2430JK
Every day, energy merchants collect and scrutinize whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks.
Real-time data on fuel demand would be the ultimate prize.
On-the-spot gasoline consumption figures would change the way oil markets trade, because it is “the holy grail of metrics,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
5 Managing the uncertainty of coronavirus
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/choosing-the-right-path-to-unlock-the-economy
In this episode of the Inside the Strategy Room podcast, we try to answer two urgent questions: How should governments approach the different possible paths to reopening their economies? And what is needed to spur businesses and consumers to start spending again? Two McKinsey senior partners who have been deeply involved in helping companies navigate the coronavirus pandemic discuss the current uncertainty and its impact on economic recovery.
6 Data analytics among top three deployment priorities for enterprises
https://www.canadianmanufacturing.com/technology/data-analytics-among-top-three-deployment-priorities-for-enterprises-frost-sullivan-256342/
Under an aspirational forecast scenario, which assumes that COVID-19 is contained by August 2020 and that global markets will recover by the end of the year, the market is expected to expand at a compound annual growth rate (CAGR) of 28.9%, reaching US$68.09 billion by 2025 from $14.85 billion in 2019. Under the conservative forecast scenario, the market is likely to reach US$41.84 billion by 2025, at a CAGR of 18.8%.
7 Rethinking Technology Road Maps for the Second Half of 2020
https://www.informationweek.com/strategic-cio/enterprise-agility/rethinking-technology-road-maps-for-the-second-half-of-2020/a/d-id/1338262
If there was ever a point modern times that one could point to and use as justification for digital transformation, we’ve just witnessed it. The massive disruptions and uncertainty that businesses and the global economy recently endured shows that successful businesses can no longer rely on disjointed tasks and manual processes. Instead, the goal for any business right now should be to streamline, automate and simplify how they conduct their day-to-day operations.
8 Using Data Virtualization in Your API Initiatives
http://www.datavirtualizationblog.com/using-data-virtualization-in-your-api-initiatives/
APIs are everywhere. A user may interact with a single application or website, but behind the scenes, several APIs have been integrated together to make up that application.
In some cases, the use of external APIs may be obvious, such as when a YouTube video is integrated into a news article, or when you click “Pay with PayPal” and are redirected via an API call to a PayPal pop-up to complete your order.
9 Maximizing the Benefits of B2B Supplier Diversification
https://sloanreview.mit.edu/article/maximizing-the-benefits-of-b2b-supplier-diversification/
As America’s population becomes more diverse and social movements highlighting the need for inclusion have taken center stage, governments, nonprofits, and large companies from a wide variety of industries (for example, Nike, Nordstrom, Pfizer, IBM, Microsoft, Dell, Coca-Cola, Fox News) have responded to these demographic changes with initiatives to promote supplier diversity and inclusion. These B2B programs are intended to make it easier for small businesses or those owned and operated by people from socially or economically disadvantaged groups, such as minorities, women, the LGBTQ community, and veterans, to win contracts and sell their goods and services.
10 Stop training more models, start deploying them
https://www.kdnuggets.com/2020/06/stop-training-models-start-deploying.html
The rumours that AI (and ML) will revolutionise healthcare have been around for a while [1]. And yes, we have seen some amazing uses of AI in healthcare [see, e.g., 2,3]. But, in my personal experience, the majority of the models trained in healthcare never make it to practice. Let’s see why (or, scroll down and see how we solve it).
Note: The statement ”the majority of the models trained in … never make it to practice” is probably true across disciplines. Healthcare happens to be the one I am sure about.
11 5 Stunning Transactional Emails You Can Steal From
https://www.business2community.com/email-marketing/5-stunning-transactional-emails-you-can-steal-from-02323889
We receive transactional emails all the time. Most brands treat them as the cost of doing business and don’t invest a lot of time or effort into them, which is a mistake.
Whether it’s a marketing one or a transactional one, every email should be looked at as an opportunity to provide useful information to your audience and customers. Here are five transactional emails that unlock the hidden potential of transactional emails.
12 How CTOs Can Innovate Through Disruption in 2020
https://www.informationweek.com/strategic-cio/executive-insights-and-innovation/how-ctos-can-innovate-through-disruption-in-2020/d/d-id/1338248
CTOs and other IT leaders need to invest in innovation to emerge from the current COVID-19 crisis ready for the next opportunities.
Are you ready for 2021’s opportunities? Are you ready for the new business models that will emerge once the COVID-19 coronavirus is behind us? What strategic technology moves will your organization make today to invest in the innovation to bring your enterprise out of the current crisis, stronger and better?
13 How to Test for Statistically Significant Relationships Between Categorical Variables with Chi Square
https://towardsdatascience.com/how-to-test-for-statistically-significant-relationships-between-categorical-variables-with-chi-66c3ebeda7cc
A while back, I was analyzing market research data for a survey my company released to gauge customer sentiments towards a new product idea. Many of the variables were categorical (i.e. male, female, which of these features is most / least appealing) and after some initial research, I decided a chi-squared test for independence would be the best way to discern if there were certain segments of the population more or less likely to like a feature.
14 What is Edge Computing
https://www.socialtalk.co.in/2020/06/what-is-edge-computing.html
In traditional data processing use to have many limitations like storage, speed, server management, data loss, webpage host and server, and a huge setup, to deduce data process response time need to remove. which is not applicable most of the company. So here comes Cloud Computing where we can store our data to the cloud and process itself, we will get improved speed and less time to reach to out consumers.
15 How to Prepare Your Data
https://www.kdnuggets.com/2020/06/how-prepare-your-data.html
It is rare that you get data in exactly the right form you need it. Often you’ll need to create some new variables, rename existing ones, reorder the observations, or just drop registers in order to make data a little easier to work with.
This is called data wrangling (or preparation), and it is a key part of Data Science. Most of the time data you have can’t be used straight away for your analysis: it will usually require some manipulation and adaptation, especially if you need to aggregate other sources of data to the analysis.
16 After pandemic, U.S. senators want review of drug supply chain
https://www.reuters.com/article/us-health-coronavirus-senate-supplychain-idUSKBN2411HI
Republican and Democratic U.S. senators called for a government analysis of foreign influence in the U.S. pharmaceutical supply chain on Tuesday, saying the coronavirus pandemic has exposed an over-reliance on China and other countries for the production of essential drugs.
Republican Senator Marco Rubio and Democratic Senator Elizabeth Warren will introduce the U.S. Pharmaceutical Supply Chain Review Act on Tuesday.
