About the author xi
Acknowledgements xiii
Chapter 01 Why every business is now a data business 1
The astonishing growth of big data and the Internet of Things 1
A brave new (data-driven) world 2
Are we nearing artificial intelligence? 5
How data is revolutionizing the world of business 7
Every business must become a data business 16
Endnotes 19
Chapter 02 Deciding your strategic data needs 21
Using data to make better business decisions 22
Using data to improve your operations 25
Transforming your business model: data as a business asset 31
The importance of the right data, not all data 33
Making a strong business case for data 35
Endnotes 36
Chapter 03 Using data to improve your business decisions 37
Setting out your key business questions 37
Questions related to your customers, markets and competition 40
Visualizing and communicating insights from data 50
Endnote 55
Chapter 04 Using data to improve your business operations 57
Optimizing your operational processes with data 58
Using data to improve your customer offering 66
Endnotes 71
Chapter 05 Monetizing your data 73
Increasing the value of your organization 74
When data itself is the core business asset 74
viii Contents
When the value lies in a company’s ability to work with data 77
Selling data to customers or interested parties 78
Understanding the value of user-generated data 82
Chapter 06 Sourcing and collecting data 85
Understanding the different types of data 86
Taking a look at newer types of data 93
Gathering your internal data 96
Accessing external data 97
When the data you want doesn’t exist 99
Endnote 100
Chapter 07 Turning data into insights 101
How analytics has evolved 102
Looking at the different types of analytics 103
Advanced analytics: machine learning, deep learning and cognitive
computing 114
Combining analytics for maximum success 117
Chapter 08 Creating the technology and data infrastructure 119
‘Big data as a service’: the one-stop solution for businesses? 120
Collecting data 122
Storing data 124
Analysing and processing data 129
Providing access to data 132
Endnote 135
Chapter 09 Building data competencies in your organization 137
The big data skill shortage, and what it means for your
business 138
Building internal skills and competencies 140
Outsourcing your data analysis 145
Endnotes 150
Chapter 10 Ensuring your data doesn’t become a liability:
data governance 151
Considering data ownership and privacy 152
Tackling data security 159
Practising good data governance 163
Endnotes 165
Chapter 11 Executing and revisiting your data strategy 167
Putting the data strategy into practice 167
Creating a data culture 172
Revisiting the data strategy 173
Endnotes 179
Index 181