Right Data: Why Big Data Sometimes Just isn’t Enough

Big Data is everywhere! The sources of Big Data are manifold and are related to several popular topics: sensors in vehicles (Connected Car) or production lines (Internet of Things, IoT), mobile communication, social media, and many other areas are capable to steadily produce enormous amounts of data. The pure collection of data is not an end in itself. The underlying goal is to generate additional value from it through skillful exploration. In recent years, the ability to both store and process Big Data sets improved significantly through the ongoing technical developments, e.g. in the Hadoop ecosystem. While Business Analysts have learned to derive KPIs and additional insights from the collected data, the step to prepare predictive applications is led by members of a new job profile: Data Scientists. Their field of expertise is to analyze the data sets, determine correlations among the different entities, and finally, use these findings to build and train predictive models. These models, developed in close collaboration with the corresponding business units, allow the derivation of predictions and subsequently even the automation of decisions. Hence, the predictive analytics has the potential to change business processes and to generate added value for the customers. Read More

Big Data Blues Ahead? Dynamic & Individual Online Pricing

As you might recall from last year’s post on Cybersecurity issues of innovations in stationary and online retail, dynamic and individualized pricing supported by Big Data analytics is already being experimented with by many firms. It could happen that retailers have to prepare for legislator’s reactions in the near future. Read More

Who is Faster than the Competition?

The proceeding digitalization is causing branches and markets to change rapidly. Each company, no matter what branch or whether the company is small or large, is giving strategic thoughts to who the customers are today and who will be the customers tomorrow as well as who the competition is today and will be the competition tomorrow. Often the competition is not even from the direct market environment, but from a totally different area. Read More

Key Security Issues That Need to be Addressed at the 52nd Munich Security Conference and Beyond

In light of the 52nd Munich Security Conference this weekend, lets recap some of the key issues that policy makers and business leaders need to address in 2016 and upcoming years: Read More

Population Health Management: Integrating eHealth-Technologies, Health Management and Health Economy

Many eHealth initiatives are pretty much known in the German healthcare system as well as in further European countries. The different scopes range from video-consultation for seriously ill COPD patients, tele-radiology to the electronic health card or certain regional health-supply systems (e.g. “UGOM” in Bavaria, Germany) – some of them already proven in daily practice. Read More

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