Data Strategy: How to Profit from a World of Big Data, Analytics and the Internet of Things

299 Pages·2017·1.29 MB·English

by  Bernard Marr

PRAISE FOR DATA STRATEGY
‘Algorithms will control every aspect of our lives. This book is the 2017 how-to
guide to take advantage of data to out-think, out-compete and out-perform.’
Henrik von Scheel, Advisory Board Member, Google
‘Data Strategy isn’t just for data people. Bernard Marr shows that a data strategy
deserves attention on the same level as a company’s marketing, customer,
product, and talent strategies. In my experience, a data strategy is critical to the
success of all of these efforts. I believe Marr’s book is a valuable starting point
for developing your data strategy. I found it brought together a number of
lessons I’ve learned. If you’ve never developed a data strategy, it’s worth
reading twice.’ David Purdy, Data Scientist, Uber
‘If you’re a person in charge of data strategy for your company, but still struggle
to articulate the size of the task and subsequent reward for building a data-driven
culture, this book can help provide a well-rounded pulse on the change that is
happening in business today, and arm you with the beginning of a structure to
tackle it.’ Jake Williams, Retail Strategy, Amazon
‘A complex topic with many strands made simple – packed with accessible
examples from global household brands, right down to smaller chain stores.
Bernard Marr’s latest book on data strategy covers many critical elements for
anyone trying to get to grips with the data-driven economy in an accessible,
conversational style that means that this book will be an interesting read for
those who wish to know more about how the human race is evolving supported
by data and devices, and what they might need to think about within their own
organization to align with this agenda.’ Gareth Mitchell-Jones, Cognitive
Systems, IBM
‘A clear, concise and exciting road map for maximizing value from data in
today’s hyper-competitive business landscape.’ Ralph Blore, Leader, Central
Analytics, Visa
‘As we enter the Fourth Industrial Revolution, Bernard Marr tells us that it will
be those companies that view data as a strategic asset that will survive and
thrive. He helps us understand how data can improve decision making, improve
operations and be monetized in products or services. His latest book is both a
reference manual for all aspects of understanding big data and a guide to how to
use it to create value in any organization. Whatever your view of the increasing
use of data and automation, Marr’s expertise will help you shape your own
future using data.’ Andy Rubin, Chairman, Pentland Brands
‘Bernard Marr has a rare ability to make complex topics understandable for even
the least technical among us. Bernard’s insights in data strategy are invaluable
because he truly understands how to create a comprehensive data strategy and,
importantly, how to explain it to others. I highly recommend this book to anyone
seeking a practical guide to the world of big data.’ Stuart B Frankel, CEO,
Narrative Science
‘Leveraging data to drive competitive advantage has shifted from being an
option to a requirement, and Bernard Marr provides a comprehensive roadmap
for leaders focused on mapping and assessing their journey. His range of case
examples, spanning the digital natives to small businesses, are engaging and
informative, reinforcing the importance of starting from a business orientation.
This should help readers accelerate business value as well as navigate the
crowded landscape of technology, support and data options.’ Andrew Salesky,
SVP, Global Data Officer, Charles Schwab
‘Bernard Marr provides a sound, thorough overview of the key elements that
shape data strategy, and he weaves in compelling real-world examples that
highlight the importance of building a data-driven business to excel in today’s
data economy.’ Brent Dykes, Director, Data Strategy, Domo
‘Bernard hits the pulse of one of the largest transformations impacting all
businesses with this book. Having a robust data strategy and data science
roadmap has become an essential part of every organization’s DNA. This book
provides a roadmap on how to get there with key insights from leaders in the
space.’ William Merchan, Chief Strategy Officer, DataScience
‘Bernard Marr perfectly distils the need for well-formulated business questions
in a time when virtually anything can be measured and analysed.’ Dan Morris,
Senior Director, Data Platform at Viacom
Data Strategy
How to profit from a world of big data,
analytics and the internet of things
Bernard Marr
This book is dedicated to the four people that are my world:
My wife, Claire, and our three children, Sophia, James and Oliver.
Contents
Cover
Title Page
Copyright
Contents
About the author
Acknowledgements
01 Why every business is now a data business
The astonishing growth of big data and the Internet of Things
A brave new (data-driven) world
Are we nearing artificial intelligence?
How data is revolutionizing the world of business
Every business must become a data business
Endnotes
02 Deciding your strategic data needs
Using data to make better business decisions
Using data to improve your operations
Transforming your business model: data as a business asset
The importance of the right data, not all data
Making a strong business case for data
Endnotes
03 Using data to improve your business decisions
Setting out your key business questions
Questions related to your customers, markets and competition
Visualizing and communicating insights from data
Endnote
04 Using data to improve your business operations
Optimizing your operational processes with data
Using data to improve your customer offering
Endnotes
05 Monetizing your data
Increasing the value of your organization
When data itself is the core business asset
When the value lies in a company’s ability to work with data
Selling data to customers or interested parties
Understanding the value of user-generated data
06 Sourcing and collecting data
Understanding the different types of data
Taking a look at newer types of data
Gathering your internal data
Accessing external data
When the data you want doesn’t exist
Endnote
07 Turning data into insights
How analytics has evolved
Looking at the different types of analytics
Advanced analytics: machine learning, deep learning and cognitive computing
Combining analytics for maximum success
08 Creating the technology and data infrastructure
‘Big data as a service’: the one-stop solution for businesses?
Collecting data
Storing data
Analysing and processing data
Providing access to data
Endnote
09 Building data competencies in your organization
The big data skill shortage, and what it means for your business
Building internal skills and competencies
Outsourcing your data analysis
Endnotes
10 Ensuring your data doesn’t become a liability: data governance
Considering data ownership and privacy
Tackling data security
Practising good data governance
Endnotes
11 Executing and revisiting your data strategy
Putting the data strategy into practice
Creating a data culture
Revisiting the data strategy
Endnotes
Index
Backcover
To accompany the book, the author has prepared an additional online resource, Beyond the Big
Data Buzz, which can be found at: www.koganpage.com/beyond-the-big-data-buzz.