In this article from the Harvard Business Review, Tom Davenport argues that Analytics is moving into a 3rd phase which he calls “Analytics 3.0”.
Analytics 3.0 moves beyond our traditional concept of business intelligence and the initial development of Big Data. With Analytics 3.0, Davenport envisions that analytics will be more customer facing and deliver greater value across all industries.
In the late 90s Mary Meeker provided a view into the future while working as an analyst at Morgan Stanley. That future was interrupted as the dot-com bubble burst. With the latest round of growth Mary is back at it again. I highly recommend that you at least skim through this very enlightening and entertaining perspective on the future of internet technology. http://lnkd.in/ye9dA8
In the past few years, a new methodology for launching companies, called “the lean start-up,” has begun to replace the old regimen. Traditionally, a venture’s founders would write a business plan, complete with a five-year forecast, use it to raise money, and then go into “stealth mode” to develop their offerings, all without getting much feedback from the people they intended to sell to. Lean start-ups, in contrast, begin by searching for a business model. They test, revise, and discard hypotheses, continually gathering customer feedback and rapidly iterating on and reengineering their products. This strategy greatly reduces the chances that start-ups and corporations will spend a lot of time and money launching products that no one actually will pay for.
Customer feedback is an essential component of business strategy development. This classic HBR articles highlights the risk that firms face due to over-reliance on their best customers to inform their strategy.
HBR: Disruptive Technologies 1995
The rapid growth in the amount of data being collected is leading to an increased need to manage and analyze these large data sets. A new breed of problem solvers, The Data Scientist, is emerging to lead the effort to tackle these complex problems and associated opportunities. The HBR article below explores this emerging role in detail and provides some real world examples of the problems that are being tackled.
HBR: The Data Scientist