Having data is an ideal starting place for the Digitial Economy..

The digital economy is not possible without any data, but you can still play a significant part by having access to data. However, you need “big data” to start to find the interesting patterns and the insights that are going to make a real difference. So IBM’s announcement to acquire the Weather.com’s digital business should be no surprise.

Weather can often allow new levels of automated optimization that previously unimaginable. We can all image the retailing examples, however the manufactures being able to tune assembly lines based on weather create fascinating opportunities.

I look forward to seeing these new uses emerge in the near future.

Here are a few of the articles in the press that I found interesting background.

http://techcrunch.com/2015/10/28/ibm-will-acquire-the-weather-companys-digital-business/#.qrlpiy:Wlpp

http://slashdot.org/story/15/10/28/2036213/ibm-acquires-the-weather-companys-digital-business

http://www.thewrap.com/ibm-the-weather-company-the-weather-channel-product-technology-dave-shull-nbcuniversal/

http://economictimes.indiatimes.com/tech/ites/ibm-to-acquire-the-weather-co-including-its-weather-com-website/articleshow/49589830.cms

http://www.ft.com/cms/s/0/0fe3ac2e-7e22-11e5-a1fe-567b37f80b64.html#axzz3q2KhDZtg

http://www.crainsnewyork.com/article/20151028/TECHNOLOGY/151029833/ibm-nabs-weather-co-s-digital-properties-to-bolster-data-analytics

Is Blockchain the next digital economy platform?

As we see the exponential rise in the use of blockchain technologies, many are asking is this the next digital economy platform. So before we can answer this question we need a structure for the types of digital economy platforms. The 5 New Patterns for Innovation provides a framework exploring the potential value.

Pattern Role of Blockchain Value to be captured
Product Augmentation Capture history of product design, manufacture and usage Product enhancement, offer services to enhance product experience
Codify Services Capture audit trail of usage Limited value – possibly simplify billing
Interconnect Industries Be the trusted platform to share data across the industries Optimisation of the interactions by removing friction
Trade Data Capture audit trail of how insights were derived Could create
Digitise Assets Capture audit trail of usage Limited value..

In essence the blockchain has most value in creating an open trusted ledger for interactions that span multiple organisation boundaries. The analysis published in the “4 Trillion Dollar Challenge” provides a view of the industries where there is potential value from the blockchain technologies. This leads me to believe that blockchain is likely to disrupt many if not all interactions across multiple organisations and so is likely to be a s very significant platform in the digital economy in the future.

Will the real Data Scientist Stand up

Will the real Data Scientist Stand up

The role of a Data Scientist is gathering momentum and a search for data scientist courses reveals 100s of MSc programmes. When you think about the role of a data scientist in a real project it is much less clear. It tends to be more helpful to think about the five steps of:

  1. Data capture or storage
  2. Data Analysis to derive insights
  3. Data Models to identify the underlying patterns across multiple data domains
  4. Data Security/privacy/ethics
  5. Actions – how to apply the evidence from the data to create the right business outcomes

As we think about these 5 steps, there are very different skills and tools use by these data scientists. So can one data scientist cover all these aspects? Do we need to break the role of the data scientist into more granular levels aligned to these kinds of steps?

Finding your place in the digitial economy – 5 Ways cloud can help you innovate.

As we all search for practical things we can do you innovate businesses into the Digital Economy, we all know that Cloud has a significant role. How would we understand this role and what are the practical steps we can take.

In essence Cloud is the market place for the digital economy. It is where digital assets and services will be offered or marketed or bought.

The blog that I authored on the Thoughts on Cloud blog describes the 5 ways that you can innovate from your current vantage point, and create your digital assets or services in the cloud..

http://www.thoughtsoncloud.com/2015/07/5-ways-cloud-can-help-you-innovate/

Networks provide the underlying fabric for the Digital Economy, can they cope with Big Data?

Ability to move of information to the right place is the primary role of networks in the Digital Economy. With growth of data and information volumes, can networks cope? I explored this question in the article that was published in CIOReview: http://telecom.cioreview.com/cxoinsight/can-networks-cope-with-the-explosive-demands-of-big-data-nid-2950-cid-39.html

Digital Money Index provides valuable clues for developing your digital ecnomy strategy..

Digital money provides the value exchange mechanism for the digital economy. The work recently published by Imperial College and Citibank provides a some important clues in developing your strategy for entry into the digital economy. The Need – Value – Experience model allows you to better understand the underlying flows and can inspire new ideas.  The report is worth reading as is last years.

www.citi.com/digitalmoneyindex

The pdf of the report can be found here.