Wherever you turn, businesses are putting analytics into action. Retailer American Eagle outfitters, for example, uses an algorithm to figure out how best to fulfill online orders with products shipped from physical stores. Insurance company Allstate calculates premiums using an algorithm that weights different risk factors. Even beverage maker Minute Maid is applying algorithms to its orange juice, taking into account not just consumer preferences but its supply chain.
As Kim Nash writes in the story CIOs have to learn the new math of analytics, "Today's data-driven business runs on the almighty algorithm." And CIOs who don't want to find themselves on the sidelines need to understand algorithms so they can "contribute to decisions about what data to pour into an algorithm and what to keep out, and how to monitor what the algorithm does."
In this CIO Wrapsheet, we dive deep into analytics, exploring how businesses can best put data to use. You'll get expert advice on what forward-thinking CIOs can contribute to the conversations their organizations are having around analytics, learn how to get the most from customer and consumer data, discover how to build a data science team and find the questions you must ask analytics vendors before signing on the dotted line.
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