Mind+Machine: A Decision Model for Optimizing and Implementing Analytics

321 Pages·2016·27.68 MB·English

by  Marc Vollenweider

mind+machine

mind+machine
A Decision Model for Optimizing and
Implementing Analytics
Marc Vollenweider
Cover image: © iStock.com/sumkinn
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Published simultaneously in Canada
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10 9 8 7 6 5 4 3 2 1
To my wife Gabi and our children Michèle,

Alexandra, Eric, and Mike

CONTENTS
Preface xi

Acknowledgments xvii

List of Use Cases xix

Part I: The Top 12 Fallacies about Mind+Machine 1

Fallacy #1: Big Data Solves Everything 3

Fallacy #2: More Data Means More Insight 17

Fallacy #3: First, We Need a Data Lake and Tools 26

Fallacy #4: Analytics Is Just an Analytics Challenge:

Part I: The Last Mile 31

Fallacy #5: Analytics Is Just an Analytics Challenge:

Part II: The Organization 36

Fallacy #6: Reorganizations Won’t Hurt Analytics 40

Fallacy #7: Knowledge Management Is Easy—We Just Need

Some Wikis 45

Fallacy #8: Intelligent Machines Can Solve Any Analytic Problem 49

Fallacy #9: Everything Must Be Done In-House! 61

Fallacy #10: We Need More, Larger, and Fancier Reports 66

Fallacy #11: Analytics Investment Means Great ROI 72

Fallacy #12: Analytics Is a Rational Process 78

Part I: Conclusion 82

Part II: 13 Trends Creating Massive Opportunities

for Mind+Machine 85

Trend #1: The Asteroid Impact of Cloud and Mobile 87

Trend #2: The Yin and Yang of the Internet of Things 96

vii
viii CONTENTS
Trend #3: One-to-One Marketing 105

Trend #4: Regulatory Flooding of the Ring of Knowledge 111

The European Union and Privacy Rules: The

General Data Protection Regulation and the EU–US

Privacy Shield 114

The Teeth of the General Data Protection Regulation 115

Privacy Impacting the Ring of Knowledge 120

The Nine Questions You Need to Ask Your CIO

Regarding Personal Data 121

Trend #5: The Seismic Shift to Pay-as-You-Go or Output-Based

Commercial Models 123

Trend #6: The Hidden Treasures of Multiple-Client Utilities 133

Trend #7: The Race for Data Assets, Alternative Data,

and Smart Data 136

Trend #8: Marketplaces and the Sharing Economy Finally

Arriving in Data and Analytics 144

T rend #9: Knowledge Management 2.0—Still an Elusive Vision? 147

Trend #10: Workfl ow Platforms and Process Automation for

Analytics Use Cases 156

Trend #11: 2015–2025: The Rise of the Mind–Machine Interface 164

Trend #12: Agile, Agile, Agile 172

Trend #13: (Mind+Machine)2 = Global Partnering Equals More

Than 1+1 177

Era 1: Pure Geographic Cost Arbitrage (2000–2005) 178

Era 2: Globalizing Outsourcing (2005–2015) 180

Era 3: Process Reengineering (2007–2015) and

Specialization 184

Era 4: Hybrid On-Site, Near-Shore, and Far-Shore

Outsourcing (2010–) 184

Era 5: Mind+Machine in Outsourcing (2010–) 185

Pricing and Performance Benchmarks 190

The Future of Outsourcing in Knowledge-Intensive

Processes 194

Part II: Conclusion 196