Post by: Russell Walker, Ph.D.
Big Data and Analytics, Digital Strategy
IBM’s Big Bet on Big Weather Data: A New Data Strategy The move by IBM to acquire the Weather Channel is a great example of how IBM is transforming Big Data to Big Profits. In the above figure, IBM plans to predict hail storms and help car owners and insurers avoid expensive and often avoidable […]
Algorithm, Analytics, Apple, Big Data, Big Data to Big Profits, Google, IBM, Insurance, Risk, Target, The Weather Channel, Walmart, Watson, Weather
Understanding China’s One-Child Policy Shift: Big Demographic and Economic Changes Ahead Today, China announced that it is abandoning its 35-year policy of limiting families to only one child. This policy has become a demographic experiment unmatched in the history of the world. Owing to this policy on reproduction, China is experiencing many challenges and risks […]
Africa, Aging, China, Data Risks, Demographics, economic trade, Global Affairs, Global Strategy, India, Inflation, International Business, Leadership, One child policy, Populations, Social Media Risks, Srategy, Winning with Risk Management
Big Data and Analytics, Innovation
The rapid and impressive rise of Uber and Airbnb in revolutionizing the car service and lodging industries is a testament to the rise of the “sharing economy.” In the sharing economy, assets that are traditionally owned and utilized by a single person for a single purpose, such as a personal car or personal apartment, are […]
Advertising, Airbnb, Algorithm, Amazon, Analytics, Artificial Intelligence, Automation, Big Data, Big Data Analytics, Data Monetization, Sharing Economy, Strategy, Uber
Risk Management Leadership Lesson: The Value of Trust in Operations In business and life, we grow to expect certain things. Namely, our society expects companies to produce products that are safe and reliable. We go to Yelp and rail against restaurants that do not meet our expectation for service. However, large firms, when caught red-handed […]
Big Data Risks, Crisis Management, Enterprise Risk, ERM, Leadership, Operational Risk, Reputation, Risk, Risk Class, Risk Management, Risk Management Training, Risk Strategy, Strategic Risk, Toyota, Volkswagen
The Volkswagen case shows us a contemporary case of what can go dramatically wrong when an enterprise does not focus on its operational risk. Worse, it shows what happens when a lack of leadership and presence of cheating overtake the virtues and values of the firm. Operational risk is a major concern for many firms […]
Big Data Risks, Crisis Management, Cyber Risk, Data Breaches, Enterprise Risk Management, ERM, Operational Risk, Reputation, Risk, Risk Class, Risk Management, Risk Management Training, Risk Strategy, Social Media Risks, Winning with Risk, Winning with Risk Management
Big Data and Analytics, Innovation
Things are a bit different this Fall at Northwestern University, and it feels great! The Wildcats are undefeated and ranked ahead of Michigan, who they will meet on Saturday in one of the biggest games for the Wildcats in recent memory. Yet, Michigan is favored in the game. Go figure. College football offers us a […]
Advertising, Algorithm, Big Data, Big Data Analytics, Big Data to Big Profits, Chicago, College, Data Capture, Data Science, Facebook, Football, Nestle, Northwestern University, Sports Management
Big Data and Analytics, Innovation
With the NFL season in full swing, I thought I would share a graphic that impressed me. It shows how Data Visualization and the power of Data Science can help us understand more about our lives and things we enjoy. It was developed by Sean Taylor of the Facebook Data Science Team, and credits go […]
Advertising, Analytics, Big Data, Big Data Analytics, Big Data to Big Profits, Chicago, Data Science, Entertainment, Facebook, Fan, Football, Map, NFL, Sports, Sports Analytics, Sports manag, Tampa
Risk Management Leadership Lessons – Operations Are Improved when Leaders Welcome Bad News As the Volkswagen case unravels before our eyes, it plays out a familiar and repeated lesson on dealing with risk. This lesson is that early warning signs were available, but ignored. It appears that Bosch warned VW of the illegal diesel emissions […]
Big Data Risks, BP, Crisis Management, Cyber Risk, Data Breaches, Data Risks, Enterprise Risk, ERM, Leadership, NASA, Operational Risk, Reputation, Risk, Risk Management, Risk Strategy, Social Media Risks, Toyota, Volkswagen
The Value of Trust: Operating for Success In business and life, we grow to expect certain things. Namely, our society expects companies to produce products that are safe and reliable. We go to Yelp and rail against restaurants that do not meet our expectation for service. However, large firms, when caught red-handed often have gotten […]
Big Data Risks, Crisis Management, Cyber Risk, Data Breaches, Data Risks, Enterprise Risk, ERM, Leadership, Operational Risk, Reputation, Risk, Risk Class, Risk Management, Risk Management Training, Risk Strategy, Social Media Risks, Trust, Volkswagen
Big Data and Analytics, Innovation
By Cheryl SooHoo How do you turn your company’s big data into big bucks? First think big and then bigger about the value of your data, says Russell Walker EMP 64, clinical associate professor of Managerial Economics & Decision Sciences at Kellogg. “Your data doesn’t jump out and say, ‘Hey, I am worth hundreds of […]
Analytics, Asymmetric Information, Big Data, Big Data Analytics, Big Data to Big Profits, Data Analytics, Data Monetization, Data Science, Digital Platforms, Economic Sciences, Kellogg School of Management, Leadership, Location Based Services, Mobile, Oxford University Press
