Blockchain is one of the most important new technologies that has impacted the business world in the last decade. Along with cloud computing, artificial intelligence (AI), and robotic process automation (RPA), blockchain is transforming business operations and challenging traditional methods the world over. For those who are considering adoption for one of its many applications, blockchain can hold great promise.
In 1989, I took my first decision sciences course and started coding in SAS at the age of 20. I greatly enjoyed pulling discoveries buried within mounds of data, although and even small datasets had many discoveries back then. At the root of every model I’ve built, even the simplest, was a solid understanding and foundational rigor of statistical theory. When computing simple statistics or developing descriptive models, I thought through the math behind the model and how this would impact the formation, application, and interpretation.
Making an ECM implementation successful requires planning and attention to detail. The best way to create the right solution is to identify organizational goals and priorities. Learn how to manage a successful implementation in our free guide.
Since the 1980s, relational databases have been used to store business information. They were a huge step forward over hierarchical databases, which organized data into rigid tree-like structures with connections between data elements defined by the links in the structures.
In many cases, hundreds of millions of records can be handled with split-second response times, especially when dealing with aggregate queries on modern hardware. But today, a considerable number of organizations are clinging to 90s ETL technology. ETL seems to be an addiction for IT organizations because they still consider millions of records a lot of data. But having more memory than data may allow for these organizations to have their cake and eat it too. And today, getting to this point is dirt-cheap.
Adapted from Information-Driven Business: How to Manage Data and Information for Maximum Advantage, by Robert Hillard. John Wiley & Sons, Inc. Reprinted with permission. Everyone recognizes the need to get more value from their information assets. The following are eight things for an Information-Driven Business to consider.