Disrupt or be disrupted: restructuring is a million-dollar question?

Netflix did not deploy the $1 million algorithm which they offered back in 2006.Two reasons: “We
evaluated some of the new methods offline, but the additional accuracy gains that we measured did not
seem to justify the engineering effort needed to bring them into a production environment.” 

In 2016, Netflix reported that its recommendation engine reduced customer churn, saving the company
$1 billion annually. Keeping in mind the company’s estimates that recommendations drive 80 percent of
subscriber video choices, accurate movie advice is crucial for the well-being of the streaming service
provider.

Building Data centric business models show what a facility looks like and how it functions. This digitized
Data solution construction offers a way to complete business and innovation automated projects more
efficiently, in a specified timeframe and budget. In the future, real estate service, Construction domain
will use them to benefit property users and owners. Put another way, virtual building, can serve as a
data foundation for tomorrow’s digital service model. Robotics, AR/VR, sensors, IoT – will eventually,
fasten the services industry turnaround time?

1. Artificial Intelligence moves from black-hole modelling to gaining actionable insights.

Artificial intelligence (A.I.) is now the next step of digital transformation. Companies, therefore, are
diving their projects to adapt their businesses with the artificial intelligence and beat the competition.
Analysts estimate that by 2022 global spending on A.I. will reach US$100.2 billion, which is expected to
rise the years after. But some organization still thinks A.I to be gimmick which is partly because of data
illiteracy workforce and the more focus on technology over practical use.

In a Harvard Business Review article, the Head of Google Cloud AI, Andrew Moore, said:

“When A.I. becomes an everyday technology, we are the age of ‘deployed A.I.,’… people are more
focused on a ‘shared vision’ for A.I. that outlines how A.I. fit into existing processes and team structures”

ML leveraged data recommendations are valuable for the people making the decisions know what they
mean. As the principal product manager for A.I. at Tableau, Richard Tibbetts, explains:

“The emergence of A.I. does not mean that an algorithm will tell you how to run a business”

Data professionals will gain useful business skills in years to come and learn how to apply this
tremendous data to strategic business decisions whilst business executive and marketing professionals
will advocate for data proficiency and data privacy in diverse areas of the business.

2. Data Storytelling will be going mainstream and will sustain for many years to come.

It is not surprising how consumers became used to companies collecting their data, and brands just
made the consumer engagement immersive by making content more interactive, meaningful, intuitive
and convenient.

Data related storytelling is a becoming more popular and effective for the companies to leverage the
consumer habits and engage the consumer with their brands. As a result, interacting with the data
become exciting and becomes too natural compared with data privacy policies. Data interaction has
become even more engaging. For example, in Spotify’s Year in Review, their listeners received a quiz to
guess which artist they listened the most. Also, Facebook presented a quiz for the user and a connection
after reaching an online friendship target. They offer an exciting opportunity to fact-check any bias you
might have around the data story.

In the near future, we should expect to see more brands will be offering similar data experiences and
interactive insights. Personalized consumer experiences are now the company’s priority as it boosts
brand loyalty as well as new purchase opportunities by giving many perceived offers. As data storytelling
becomes more valuable to consumers, data analysis is essential for most marketing strategies.
Therefore, companies and organizations will benefit from data professionals who understand the big
picture and apply their data insights to business strategies that offer personalized consumer experience.

Conclusion

Companies and organizations rely on data to drive their innovation agenda. However, business leaders
face significant challenges to make the most out of their investment in a data-driven culture.