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

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. Other financial and operating indicators showed similar disparities. The best-performing companies stated they have technology budgets on par with digital laggards; the average IT spend as a percentage of revenue was 3.5%

Bad Data Costs the U.S. $3 Trillion Per Year

Harvard Business

75% — an estimate of the fraction of total cost associated with hidden data factories in simple operations, based on two simple tools, the so-called Friday Afternoon Measurement and the “rule-of ten.” No reasonably well-informed external customer would pay more for these steps. Data Information & technology Operations Digital ArticleConsider this figure: $136 billion per year.

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Why Hospitals Need Better Data Science

Harvard Business

Airlines are arguably more operationally complex, asset-intensive, and regulated than hospitals, yet the best performers are doing a better job by far than most hospitals at keeping costs low and make a decent profit while delivering what their customers expect. Southwest Airlines, for example, has figured out how to do well the two operational things that matter most: Keep more planes in the sky more often, and fill each of them up more, and more often, than anyone else.

Why Are We Still Classifying Companies by Industry?

Harvard Business

They have expanded far beyond the “Information Technology” tag attached to them by GICS. Today, technology is just a standard part of corporate infrastructure, like operations or marketing. Information & technology Business models Digital Article

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.

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. Our interviews indicate that care organizations are not yet ready to make such substantive operational changes and resource investments.

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. Soon, it might be worthwhile for many companies to check whether drone-based data could add value – either to optimize current operations or offer new avenues for growth.

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Data Breaches Aren’t Just an IT Issue - SPONSOR CONTENT FROM VERIZON

Harvard Business

And you probably won’t even know you’ve been affected until it’s too late to prevent significant damage to your company’s finances, operations, and reputation. Security & privacy IT Data Information & technology Sponsor Content

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

Harvard Business

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. Information that would once have been proprietary — and premium-priced — is now widely available, for free.

Data 47

How Mayo Clinic Is Simplifying Prenatal Care for Low-Risk Patients

Harvard Business

Together, we engaged in a series of activities aimed at demedicalizing prenatal care for low-risk patients, empowering women to actively engage in steering their care, defining the optimal number of scheduled prenatal care appointments, and utilizing innovative technologies to optimize how we monitored the care provided. Here are its elements: Information and knowledge-based tracking system. Operations management Innovation Information & technology Healthcare Digital Article

How Companies Are Benefiting from “Lite” Artificial Intelligence

Harvard Business

At the less-expensive end is a knowledge-based approach that organizes data and language into highly malleable and helpful blocks of information. But they can become very smart indeed about sorting and distributing their information in extremely fast ways.

Data Quality Should Be Everyone’s Job

Harvard Business

So she reached out to Stephanie Fetchen, head of operations, who plotted monthly errors on a control chart. I’d recommend that provocateurs get over these concerns by keeping bosses informed, accepting help from others, and sharing credit for success.

Data 58

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. Although members of the water industry have found success using digital technologies and analytics, they’ve also faced challenges when trying to transform the roles and mindsets of their employees and their internal- and customer-facing processes.

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

A Tool for Balancing Your Company’s Digital Investments

Harvard Business

With this model, an investment can be defined as strategic, key operational, support, or high potential. Note that whether the technology used is “leading edge” is secondary. Key operational investments sustain existing business operations, helping to avoid any disadvantage. Executives can sometimes struggle differentiating between key operational and support investments. They are driven by novel ideas or perhaps a new technology.

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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. If the process of using an ATM had been invented today, with the blockchain as a state-of-the-art database technology as an option, we would most likely not need an administrative entity like VISA to manage the process. How technology is transforming transactions.

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.

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. As you progress in using data in operational and strategic applications, organizational changes will be inevitable. Data Information & technology Analytics Digital ArticlePredictive analytics, data science, artificial intelligence, bots.

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Prepare Your Workforce for the Automation Age

Harvard Business

The internet has dramatically changed the way companies operate. Harnessing the power of machine learning and other technologies. But companies will only be able to realize productivity gains from these new operating models if they skillfully manage the soft side of their automation transformation—the people in what will be a vastly different organization. The lessons to date on driving digitization and robotics suggest operating on a dual track.

How One Clothing Company Blends AI and Human Expertise

Harvard Business

Machine learning algorithms digest all of this eclectic and unstructured information. When it comes to recommendations, is there room for improvement in the way Amazon and Netflix operate? The company collects as much information about a client as it can, in both structured and unstructured form. Structured data includes surveys with personal information such as body measurements and brand preferences. Harnessing the power of machine learning and other technologies.

What a Visit to an AI-Enabled Hospital Might Look Like

Harvard Business

Harnessing the power of machine learning and other technologies. The clerk looks at the patient name and informs you that the patient is allergic and provides you the same three options as before along with a coupon for 15% off on your next visit. Perception starts by providing both obvious and non-obvious observations to provide a baseline of information to help inform recommendations. Prediction informs you of what to expect.

We Need to Approach AI Risks Like We Do Natural Disasters

Harvard Business

Today, many companies are exposed to intelligent device risks that could harm both their own operations as well as their customers. 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. Bernat Bacete/Getty Images.

What Digital Change Demands of IT Organizations - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

And that means buying more new technology: IT organizations must adopt new platforms and processes and integrate services in new ways. Read More from DXC Technology: Is Your Company Adapting Fast Enough to Thrive in an Increasingly Digital World? These COEs are responsible for innovation, transformation and process governance, and they work closely with operating units in Mexico, Brazil, Central America and the Philippines to roll them out.

Only 3% of Companies’ Data Meets Basic Quality Standards

Harvard Business

For most, of course, the operational costs are far, far greater. 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.

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How to Design Your IT Organization for Constant Evolution - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

By Glen Robinson, Emerging Technology Advisor, Leading Edge Forum, DXC Technology. We have moved from the Internet era in the early 2000s to the cloud era today; however, we will soon transition into the Matrix era – the Matrix being the term the Leading Edge Forum (LEF) uses to describe the intersection of multiple game-changing technologies that will drive significant change in the world in which we live and do business.

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. Information & technology IT Technology Sponsor Content

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

Harvard Business

For most, of course, the operational costs are far, far greater. 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.

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

Harvard Business

Read more from DXC Technology: Embracing Digital Change Requires a Clear Strategic Focus. Digital transformation transcends technology. Digital transformation is often viewed through a narrow technology lens, as just another mobile project or e-commerce initiative. Fundamentally, though, digital transformation is the result of enterprises seeking to adapt to the storm of new technology affecting markets and customers. Information & technology Sponsor Content

Could Open-Source Code Make Our Y2K Fears Finally Come True?

Harvard Business

To add to that, time must be kept down to the millisecond, which means the server that houses time has to operate very precisely. Information & technology Technology Digital ArticleAlmost 20 years have passed since the corporate world woke up to long-term problems in computer code, which became known as Y2K. Over the previous decades, software developers had used the date 01-01-00 (January 1, 2000) as a convenient hack to make it easier to debug software.

The C-Suite and IT Need to Get on the Same Page on Cybersecurity

Harvard Business

They may think differently about the nature of cyber risk and of the way threats translate into business and technological risks. This is largely due to their priorities — C-suite executives have responsibility for mitigating business risk, while IT delivers the technological support that drives the business. For example, customer details including login credentials and account information is often for sale on the dark web.

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.

11 Things the Health Care Sector Must Do to Improve Cybersecurity

Harvard Business

If that doesn’t work, they can use the stolen information for traditional identity theft, since medical information tends to include enough information to allow a criminal to open a credit card, bank account, or loan in the victim’s name. Aside from the fact that health care institutions collectively hold information on the vast majority of the population, their IT systems also have links to financial services (e.g.,

Health Systems Need to Completely Reassess How They Manage Costs

Harvard Business

hospitals and health systems experienced an average 39% reduction in their operating margins from 2015 to 2017. Cost reduction requires an honest and thorough reassessment of everything the health system does and ultimately, a change in the organization’s operating culture.

What Could Amazon’s Approach to Health Care Look Like?

Harvard Business

For existing health care companies, the operative words in that mandate have been “health care”; for Amazon, the operative words likely are “service that needs to be delivered to a customer.” What’s more, this data capture is passive and thus does not require consumers to enter much, if any, information to complete a transaction. Collecting such information can be onerous, requiring separate efforts that are often challenging to integrate.

Why Process Is U.S. Health Care’s Biggest Problem

Harvard Business

A lot of money has been spent on information technology in health care with little to show for it. When it comes to change, the technology is the easiest part. Health care technology is very effective when it is used to support a well-designed care process. How technology is changing the design and delivery of care. Not only is that time-consuming (contributing to physician burnout), but it also greatly increases the chances of missing important information.

The Secret History of Agile Innovation

Harvard Business

Borrowing many of the HBR article’s key ideas and filling in specific operational practices, Sutherland created a new way of developing software; honoring the rugby imagery, he dubbed his approach “scrum.” The Information Age was exploding.

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Finance and HR: The Executive Partnership That Transformed a Company

Strategy+Business

Between them, they control the major sources of capital available to a company: human, financial, and often information technology. The relationship between a chief financial officer (CFO) and chief human resources officer (CHRO) can turn a company around.

Fighting Chronic Disease Starts with Better Pediatric Care

Harvard Business

This means that all the providers a patient sees — from birth into adulthood, in and outside of the hospital, from state to state, and at school, and in the doctor’s or therapist’s office — must communicate and share information simply and efficiently. Health information and other technology. Technologies hold promise for remote monitoring and intervention. Business models Economics & Society Operations management Healthcare Digital Article