The single greatest instrument of change in today’s business world, and the one that is creating major uncertainties for an ever-growing universe of companies, is the advancement of mathematical algorithms and their related sophisticated software.
Insurance companies face conflicting challenges. They must contend with continuing instability in financial markets, low interest rates, increasing acquisition costs, changing regulation and catastrophic losses from ongoing natural disasters.
In contrast to the one-size-fits-all medicine, personalized medicine aims to tailor treatment to the individual characteristics of each patient. This requires the ability to classify patients into subgroups with predictable response to a specific treatment.
Talent science is the business capability of using advanced data analysis techniques and predictive models to drive HCM decision making. It calls for a logical connection between decisions about people, HR program investments and strategic business outcomes.
In the venture capital world, it’s all about the “hits.” A hit is a startup that makes it big, returning many multiples of a venture fund’s initial investment. Hits are great for everyone—investors, entrepreneurs, job seekers—but the problem is they don’t happen very often. The odds of a big hit are about one in 10.
As data is already everywhere, so data science problems are becoming increasingly prevalent. Some enterprises have counted 50 to 100 data science use cases. To better cope with the sheer mass of projects, some leading organizations are starting data science teams whose general mission is to become a shared resources across the organization. Data science projects can be characterized by their business impact, helping analytics leaders to understand the business benefits they deliver, from innovation and business understanding to prototyping, process refinement and firefighting.
The long-standing desire for two parties to transact online directly—without a third-party intermediary— has accelerated the popularity of cryptocurrencies like Bitcoin, Litecoin, Blackcoin, Dogecoin etc. The online equivalent of hand-to-hand cash transactions, the cryptocurrency phenomenon, which is driven primarily by its to-date most popular option, Bitcoin, has struck a chord with growing legions of speculators, consumers, merchants, government regulators and even lawbreakers. As the news of recent Bitcoin-centric scandals has revealed, the latter category of less ethical players has rightfully heightened stakeholder scrutiny and wariness of Bitcoin and its digital brethren. But its growing popularity as a legitimate currency exchange option means Bitcoin holds opportunities as well as risk. Companies are seeking to further capitalize on the Bitcoin trend—even if many remain unsure of the precise implications on their business or industry.