New Age of Innovation Chapter 3 notes

Quality of Business Processes
-determine the capability of firms to compete effectively
-cant be static
-Example: SMS messages used for settling

Analysis
-describe mathematical applications that permits bus. to crunch everything

Business Insights
-Analytics Engine
--focus on strategic priorities
--N=1, R=G
-Actionable Insights
--focus on co creation
-Rich Transaction Data
--consistent, transparent
--access database
--characteristics of the field are cleanly defined
--easy to deal with
-Unstructured Data
--difficult to put into a neat format
--web-page content
--wiki's
--minutes from a meeting
--weak signals
--audio file
--multimedia data

Analytical tools
-foresight, not hindsight is more valuable
-foresight is the understanding through data

Global Resource Access
-the capability of leverage global r will demand new levels of visibility in managing logistics of physical goods and resources globally to meet unique demands of customers

Examples
-Schneider Electric
--world's largest manufacture of electrical distribution systems
--$8.8 billion in sales
-UPS
--provide full visibility of 15 million packages shipped daily
--uses N=1
--uses GPS to track each truck and package
-DOD
--uses RFID tags to track supplies

Dynamic Real-Time Reconfiguration of Resources
-visibly in the supply chain is almost a requirement
-reconfigure resources globally starts with the simply trend analyitics of the key metrics across different markets
-online companies
--provide chat sessions

Building Blocks of R-G Capabilities
-visibility to process data
-real-time configuration of re
-anticipation of demand and resource needs
-insights

Building Blocks of N=1
-Focus on individual choice
-Capacity to co create with customers
-Anticipation of customer evolution pathways
-insights

Online Services
-Google, Facebook, Yahoo!
--allow customers to design their own choices of news topics and sources
-Amazon.com, eBay
--provides personalized products and services based on customers past choices

N=1 meets R=G
-the transformation to a customer centric co creation view of value pushes firms to new frontiers of the price performance envelope



Dr. Jih's comments
-more unstructured data in our Internet society
-gain more knowledge out of rich transaction data
-analytics
--data->knowledge
-technology->application
--analysis systems
--software applications
-business partners and suppliers can access inventory data
-manufacturs have enough info about a market places so they don't overproduce
-not everyone can access global resources