Algorithms will not only drive scores of business processes, but also build other algorithms, much as robots can build other robots. And rather than using apps, future users’ lives will revolve around cloud-based agents enabled by algorithms. Gartner expects that by 2020, smart agents will facilitate 40% of all digital interactions.
In recent years, there has been a lot of hype around “big” data in the marketing world. Big data is extremely helpful with gathering quantitative information about new trends, behaviors and preferences, so it’s no wonder companies invest a lot of time and money sifting through and analyzing massive sets of data. However, what big data fails to do is explain why we do what we do.
Business leaders have long recognized that the ability to hire the right talent plays a significant role in any organization’s performance. Views about the challenges to acquiring and retaining such talent have evolved over time.
Digital transformation is vital for business growth, but working out what to do and how to do it remains difficult for IT and business leaders. At its heart, the digital revolution is about consumer behavior and business opportunity, not technology. The major changes in how consumers use technology, and to where technology is applied, represent a clear and present opportunity to generate new outcomes for modern businesses.
Data and analytics leaders increasingly believe that data science is a critical component of their analytics and business intelligence (BI) modernization plans, and are clamoring to incorporate new. Technologies such as predictive analytics, machine learning and deep neural nets sit at the Peak of Inflated Expectations on related Gartner Hype Cycle.
The pharma and life sciences industr is faced with increasing regulatory oversight, decreasing Research & Development (R&D) productivity, challenges to growth and profitability, and the impact of digitazation in the value chain. The regulatory changes led by the far-reaching Patient Protection and Affordable Care Act (PPACA) in the United States are forcing the pharma and life sciences industry to change its status quo. Besides the increasing cost of regulatory compliance, the industry is facing rising R&D costs, even though the health outcomes are deteriorating.
In the age of Big Data, algorithms give companies a competitive advantage. Today’s most important technology companies all have algorithmic intelligence built into the core of their product: Google Search, Facebook News Feed, Amazon’s and Netflix’s recommendation engines.