Why Are We Still Classifying Companies by Industry?

Harvard Business

For more than 60 years, investors, analysts, business leaders, and even governments, have classified companies based on industries. Industry walls are disintegrating at a rapid pace. They have expanded far beyond the “Information Technology” tag attached to them by GICS.

How the Water Industry Learned to Embrace Data

Harvard Business

The water industry is using digital technologies and analytics to derive more value from its physical assets. To help solve this problem, organizations are using digital technologies and data analytics to improve leak detection. But those that have managed to integrate their technological advances with two other key elements — people and processes — have created more than data; they’ve also created value for their enterprises and society.

We Interviewed Health Care Leaders About Their Industry, and They’re Worried

Harvard Business

The transformation will necessitate substantial investments in finance, technology, human capital, operations, and infrastructure, and a substantial disinvestment of legacy resources in these areas. This pivot will entail a transformation of the workforce, physical infrastructure, and technologies that support and drive the care of patients. One noteworthy finding was the need for additional investment in information technology to support the new business model.

Digital Transformation Is Racing Ahead and No Industry Is Immune - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

Dealing with today’s digital disruption begins by understanding how it differs from past industry changes. After all, stories of the end of our industry as we know it have been a trade press staple for decades. Read more from DXC Technology: Embracing Digital Change Requires a Clear Strategic Focus. Digital transformation transcends technology. No industry is immune. Information & technology Sponsor Content

More Training Won’t Reduce Your Cyber Risk

Harvard Business

An entire industry now exists to train us humans to be smarter in how we operate computers, and yet the number of cybersecurity incidents continues to rise. But all too often organizations’ approach to mitigating that risk — other than taking the wise step of ensuring that they have the state-of-the art technological protection in place — is more training. Know and prioritize your information. Don’t just share information; block it.

Companies Are Turning Drones into a Competitive Advantage

Harvard Business

Armed with an array of sensors, commercial drones are about to become a new source for digital information. Drone-mounted sensors can be used to capture an impressive array of data, paving the way for increased digitalization of industrial processes.

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Personalized Recommendation Engines Are Coming to Health Care

Harvard Business

In the past decade, consumers have shifted from worrying about sharing personal financial information when shopping on the internet to embracing online retailers’ recommendations for them. Policy Information & technology Analytics Healthcare Digital Article

To Survive, Health Care Data Providers Need to Stop Selling Data

Harvard Business

Like any number of industries, healthcare is being transformed by the explosion of low-cost data. End users can take advantage of quantities of newly available information to solve problems in population health, clinical decision support, and patient engagement, among other applications. And for data providers, ubiquitous availability of information and low barriers to entry means that the competitive advantage gained from the data itself can be quickly eroded.

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How Today’s Political Polling Works

Harvard Business

Today, getting that same number of respondents requires between 7,500 and 9,000 calls to get a reasonably sized sample, a precipitous decline in what’s called the response rate, which is seen as a crisis in the industry. Demographics Government Information & technology Digital Article

How Machine Learning Is Helping Us Predict Heart Disease and Diabetes

Harvard Business

health care system, a new wave of analytics and technology could help dramatically cut costly and unnecessary hospitalizations while improving outcomes for patients. Toward this end, my colleagues and I at Boston University’s Center for Information and Systems Engineering have been striving to bring the power of machine-learning algorithms to this critical problem. Analytics Operations management Information & technology Healthcare Digital Article

3 Health Care Trends That Don’t Hinge on the ACA

Harvard Business

Second, technology has become a pervasive element across the health care system, with a major impact on diagnosis, treatment, and communications. There’s a tremendous amount of information and structured data now available to guide treatment, assess outcomes, and measure quality of care. But technology has become rooted firmly in U.S. The venture industry is betting big on digital health, with $4–$5 billion invested annually. Laura Schneider for HBR.

What the Companies on the Right Side of the Digital Business Divide Have in Common

Harvard Business

In just a few years digital technology has connected an ever-growing number of people, sensors, and devices. While some have invested significantly in technology, operational, and cultural changes, others are lagging behind. billion, including most major firms in the manufacturing, consumer packaged goods, financial services, and retail industries. The broad deployment of digital technology requires rethinking both business and operating models.

The Promise of Blockchain Is a World Without Middlemen

Harvard Business

How Blockchain Works Here are five basic principles underlying the technology. No single party controls the data or the information. Each node stores and forwards information to all other nodes. Let’s start by examining the potential effects of this on an industry that touches all of our lives – banking. The banking industry is filled with shared resources. How technology is transforming transactions.

Why Leaders Are Still So Hesitant to Invest in New Business Models

Harvard Business

As technology continues to change and challenge even the most successful incumbent organizations in every industry, the cost of inertia is growing. These leaders often head legacy companies that have long histories in physical industries. These leaders often “grew up” in digital industries. However, Alignors tend to stick with industry norms, despite their preferences and the rapid advancement in digital technologies.

Zurich Insurance Group Takes Its IT Infrastructure to the Agile Cloud - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

Building on a relationship that dates back to 2004, Zurich Insurance Group is working with DXC to move from traditional data center outsourcing to a Platform as a Service model, taking advantage of next-generation cloud management technologies to lower operating costs and accelerate development. Read more from DXC Technology: Digital Transformation Is Racing Ahead and No Industry Is Immune. Information & technology Sponsor Content

The Industrial Era Ended, and So Will the Digital Era

Harvard Business

Today digital technology is all the rage because after decades of development it has become incredibly useful. We need to start preparing for a new era of innovation in which different technologies, such as genomics, materials science, and robotics , rise to the fore. To understand what’s happening, it helps to look at earlier technologies. Every technology follows a similar path of discovery, engineering, and transformation. First is the technology itself.

Why CIOs Make Great Board Directors

Harvard Business

It’s no wonder CIOs are the fastest-growing addition to the boardroom: They can help address a host of issues of crucial importance to boards, including using technologies to create operational efficiencies and competitive advantage; identifying opportunities related to cloud computing, digitization, and data; addressing threats and risks associated with information security; and using their experience and judgment to oversee, question, and provide input on technology budgets.

How the U.S. Army Personalized Its Mental Health Care

Harvard Business

Almost alone among industrialized nations, the United States does not systematically collect data on mental health care outcomes and lacks any nationwide means for harnessing it. Today when soldiers check in for appointments, they are provided with a laptop or tablet with individualized log-in information. BHDP requires the use of an additional information system because the electronic health record (EHR) system used by the U.S. The U.S.

Companies Should Understand Where Cybercrime Thrives

Harvard Business

Both Brazil and Russia lose billions of dollars to cybercrime each year, and their home-grown criminals supply Trojans and other types of malware (malicious computer programs), stolen e-mail accounts and passwords, and other private information to criminal clients around the world. Both of these Trojans target system information, online credentials, and banking details. These are also customizable tools that can gather any sort of information the thief wishes.

Breaking Down Data Silos

Harvard Business

The biggest obstacle to using advanced data analysis isn’t skill base or technology; it’s plain old access to the data. Harnessing the power of machine learning and other technologies. Don’t be dazzled by the draw of another favorite industry buzzword, the “ data lake.” Data Information & technology Analytics Digital ArticlePredictive analytics, data science, artificial intelligence, bots.

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A Tool for Balancing Your Company’s Digital Investments

Harvard Business

Note that whether the technology used is “leading edge” is secondary. It can be argued that in many industries substantial numbers of digital applications — for example, online channel to customers and ERP systems — have become so pervasive that they have become mandatory for survival in the industry. Digital investments to assist meeting specific industry legislation also fall into this category.

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How One Clothing Company Blends AI and Human Expertise

Harvard Business

Machine learning algorithms digest all of this eclectic and unstructured information. As research we’ve conducted across industry and academia shows, companies have an unprecedented opportunity to tap ongoing advances in AI and machine learning research to reinvent business processes. The company collects as much information about a client as it can, in both structured and unstructured form. Harnessing the power of machine learning and other technologies.

Cybersecurity Is Every Executive’s Job

Harvard Business

What’s more, according to a recent survey conducted for BAE Systems of 300 managers in the financial services, insurance, and IT/tech industries in the U.S., The best and most effective means for senior executives to guarantee change is to establish a solid working relationship with the Chief Information Security Officer (CISO). Information & technology Risk management Security & privacy Digital Article

7 Ways to Introduce AI into Your Organization

Harvard Business

I’m teaching a new course this semester on cognitive technologies (AKA artificial intelligence) to Babson MBAs. Many of them are new to this set of technologies, and seeing the topic through my students’ eyes has made me realize how overwhelming it can be. More complex types of cognitive technology — neural or deep learning networks, natural language processing, and algorithms — can seem like black boxes even to the data scientists who create them.

Prepare Your Workforce for the Automation Age

Harvard Business

Harnessing the power of machine learning and other technologies. As workforces hollow out, the remaining employees will be highly specialized and experienced business/technology hybrids—a new breed of professional who can work in highly distributed environments and shift from managing people to managing experiences and technology. Freeways full of driverless cars and beer trucks are still far off, because of technological and regulatory limitations.

Hiring Data Scientists from Outside the U.S.: A Primer on Visas

Harvard Business

USCIS, by law, must approve it within 90 days of the application (unless it requires additional information). Nearly all professional-level jobs in the IT industry will meet this test. Hiring Information & technology Digital ArticleIt’s no secret that there’s a shortage of data scientists in America’s workforce.

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We Need to Approach AI Risks Like We Do Natural Disasters

Harvard Business

Tens of billions of connected sensors are being embedded in everything ranging from industrial robots and safety systems to self-driving cars and refrigerators. Addressing those vulnerabilities will require coordination across a large number of technology service providers and other companies that could catch or spread an AI infection to others, regardless of who is at fault. Information & technology Security & privacy Risk management Digital ArticleJose A.

Are You Accurately Measuring Your Company’s Digital Strength?

Harvard Business

industry. This phenomenon played out in virtually every industry. Performance measurement Information & technology Strategy Digital ArticleThere are few business leaders around the world not thinking about digital transformation in some shape or form. Whether improving omni-channel commerce or developing digital extensions to product lines, businesses are working out how to drive profitability through digital.

Only 3% of Companies’ Data Meets Basic Quality Standards

Harvard Business

Our deeper analyses (to see if, for instance, specific industries are better or worse) have yielded no meaningful insights. Data Information & technology Digital ArticleMost managers know, anecdotally at least, that poor quality data is troublesome. Bad data wastes time, increases costs, weakens decision making, angers customers, and makes it more difficult to execute any sort of data strategy. Indeed, data has a credibility problem.

Data 32

Why Hospitals Need Better Data Science

Harvard Business

Similarly, winners in other complex, asset-intensive, service-based industries — Amazon, well-run airports, UPS, and FedEx — have figured out how to over-deliver on their promise while staying streamlined and affordable. As Southwest, Amazon, FedEx, and UPS have demonstrated, to remain viable, industries that are asset-intensive and service-based must streamline operations and do more with less. katyau/Getty Images.

Is Your Company Adapting Fast Enough to Thrive in an Increasingly Digital World? - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

As digital technologies permeate all aspects of their operations, companies around the world anticipate the need for massive change over the next five years, according to a new global survey by Harvard Business Review Analytic Services. Read More from DXC Technology: The Questions IT Should Be Asking to Empower Employees. But along with using new technology, organizations are rethinking the role of IT. DXC Technology helps companies bridge the gap in digital transformation.

Only 3% of Companies Have Data That Meet Basic Quality Standards

Harvard Business

Our deeper analyses (to see if, for instance, specific industries are better or worse) have yielded no meaningful insights. Data Information & technology Digital ArticleMost managers know, anecdotally at least, that poor quality data is troublesome. Bad data wastes time, increases costs, weakens decision making, angers customers, and makes it more difficult to execute any sort of data strategy. Indeed, data has a credibility problem.

11 Things the Health Care Sector Must Do to Improve Cybersecurity

Harvard Business

No industry or sector is immune to hacking. At the beginning of 2017 Experian predicted that the health care sector would be the most heavily targeted vertical industry. The estimated loss to the industry is $5.6 These stats should be a wake-up call for the entire industry. Second, health care organizations have been slow to adopt practices that have worked for other industries. Share industry best practices regarding cybersecurity.

Empowering Digital Societies - SPONSOR CONTENT FROM MICROSOFT

Harvard Business

Digital transformation—or the way of thinking about this change—refers to the use of technology to improve the reach and performances of enterprises. Globally, these types of changes will be most effective when they’re supported by a legal and policy framework that reinforces the technology, particularly for issues of security, privacy, and resilience. The technology is sophisticated enough now that the possibilities seem almost limitless.

8 Ways Governments Can Improve Their Cybersecurity

Harvard Business

One challenge countries face: there are hundreds of MFA technologies vying for attention, but not all are created equal. Policymakers should understand the limitations of first-generation MFA technologies such as OTPs that rely on shared secrets and look to incent adoption of more secure alternatives, such as those that utilize public key cryptography where keys are always stored on — and never leave — the user’s device, like FIDO authentication standards.

Apple’s Pact with 13 Health Care Systems Might Actually Disrupt the Industry

Harvard Business

Several technology companies — including Google and Microsoft — tried this in the early 2000s, but their efforts failed. The technology for giving outside entities access to electronic records kept by hospitals and doctors was underdeveloped. How technology is changing the design and delivery of care. And even honest but unsophisticated data stewards can create huge problems if they don’t adequately protect patient information.

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Types of Consulting

Tom Spencer

As an aspiring consultant, you would be well advised to understand your options so that you can make an informed decision about which kind of consulting is right for you. Information Technology: In an increasingly competitive digital world organisations are increasingly looking for digital solutions. For more information on the management consulting industry, download our “ Guide to Management Consulting “ ]. (Source: Flickr ).

Top 10 Consulting Firms In New York

Management Consulted

If you are a New Yorker, just moved there with hope and zeal to conquer the consulting world, or are just looking for some world-class information on the top consulting firms in New York, here is what we have for you. In the New York office, the industries McKinsey caters to are financial services, health care services, advanced electronics, aerospace and defense, and TMT (technology, media and telecommunications).

2016 ECS Value Creators Report: Building Endurance

BCG

lthough the engineering, construction, and services (ECS) industry continues to lag substantially behind the broader market, a doom-and-gloom outlook is by no means warranted. The industry’s median five-year average annual total shareholder return (TSR) of 3.2%

The Consulting Value Proposition

Tom Spencer

The benefit of bringing in specialist consultants is that they are likely to have experience solving similar problems and an understanding of industry best practice. Areas of expertise that a consulting firm might provide include: Industry specific knowledge; Strategy; Marketing; Supply chain optimization; Distribution; Organisational change; Information technology; Tax structuring; Risk management; Human resources; and. Why do organisations hire consultants?