Welcome!

Java IoT Authors: Elizabeth White, Yeshim Deniz, Zakia Bouachraoui, Liz McMillan, William Schmarzo

Related Topics: @DXWorldExpo, Java IoT, Microservices Expo

@DXWorldExpo: Blog Post

The Three ‘I's: Insight, Impact and Innovation

These three ‘I's each need an additional ‘I' in support of their meaningful existence - I for an I

At Fractal Analytics, we believe in chasing three ‘I's in what we do for our clients, or even for any internal development, to be able to deliver value. These ‘I's are critical for our success (as we perceive it), and forms the core of our thinking.

These three ‘I's are - (i) Insight (ii) Impact (iii) Innovation

  • Insight refers to that one big learning or key takeaway from any piece of analysis that business can adopt for better decision making, removing inefficiencies from business processes, and to connect better with its customers.
  • Impact is the change that the business will witness as the result of the analysis.
  • Innovation is the new creative thinking that is introduced in conducting that piece of analysis or delivering the same to the business.

For these three ‘I's to meet the intended objective, each need an additional ‘I' in support for their meaningful existence - I for an I!

1. Interpretation
Need for the accurate Interpretation for the Insight

An insight can be as detrimental as beneficial, if not interpreted in the way it is supposed to be. Any insight delivered as an outcome of an analysis needs to be accompanied with relevant conceptual clarity and contextual familiarity (commonly referred to as CCCF) to be able to provide the right interpretation.

The person who is receiving the insight may not have the much needed CCCF to the extent that the person who is delivering the insight has, and may be a victim of wrong interpretation.

Analytics teams usually spend up to 40% of their time in presenting the insights to the consumer of analytics, in order to make it simple, straightforward and precise to help mitigate the risk of it being wrongly interpreted.

The key for presenting the insight for its right interpretation is:

  1. Keep it simple
  2. Be straightforward and direct
  3. Identify the precise implication and mention that

2. Implementation
Need to drive Implementation to realize the Impact

Analysts must have an implementation plan in place for the business owner to realize the full impact, as discovered and predicted as the outcome of a study.

An implementation plan that:

  1. Identifies the time-frame during which actions are to be taken in the market, and when the impact is to be realized
  2. Accounts for the lead-time for planning and getting things in place for execution
  3. Considers all existing constraints and actionability, and is critical for the business to see the impact.

3. Influence
Need to recognize the Influence that the Innovation will have

Any innovation in a process is meaningful if it has the ability to influence the outcome - an influence that can be measured and quantified. While an innovation can be in terms of enhancement of the way a problem is defined or approached to be solved, or redefining the process or delivery, the influence can be in the form of:

  1. Reduction in effort or time
  2. Enhancement in the width or depth of the insights, or learning through the analysis on the same piece of information/data
  3. Easier consumption of analytics for the business through simpler representation of learnings

Overall, the purpose of any innovation can be realized as either a reduced effort for the same throughput or an enhanced throughput for the same effort.

More Stories By Amit Gupta

Amit Gupta is Engagement Manager – CPG, Retail and Tech for Fractal Analytics. Gupta came to Fractal in 2005 with more than nine years of experience helping businesses optimize marketing investments, optimize portfolio pricing and trade investments, develop communication & positioning strategies, and understand consumers better. He specializes in developing analytics frameworks for solving business problems, and leading them through execution to implementation. He is responsible for consulting, design and delivery of large analytics engagements with global clients across industries. Gupta earned an MBA from Indian Institute of Management, Ahmedabad (IIMA) and a Bachelor of Architecture from NIT, Jaipur. He is passionate about designing and developing analytics frameworks and approach to solve business problems.

IoT & Smart Cities Stories
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...