We often hear that the Internet is unpredictable, that it’s the “Wild West.” That would seem to be especially true of a social medium such as Twitter. After all, tweets are by definition instant and short-lived. But in a paper I and my co-authors just submitted to the Annals of Applied Statistics, we describe a model we have developed that predicts how popular a tweet is likely to be within just a few minutes of when the “root tweet” is posted.
And anyone who wants to can now try out our model by visiting www.twouija.com.
For all of the talk about how social media, mobile and analytics are transforming our lives, the majority of big companies still have a long way to go in their digital transformation. However, two years of study with more than 400 firms around the world shows that a quarter of firms are already achieving a measurable “digital advantage” over their peers.
This research, conducted by the MIT Sloan Center for Digital Business in cooperation with research sponsor Capgemini Consulting, shows that the digital advantage is not about luck or about the industry your firm is in. It is not just about how much cool digital stuff firms are doing. Companies that manage their digital activities in a certain way are 26% more profitable than their industry peers, and outperform on other measures as well. Read More »
Recently MIT Sloan alumna Judy Lewent was inducted into the Financial Executives International Hall of Fame. A former executive vice president and chief financial officer of Merck, Lewent was recognized for her performance, leadership and integrity as a financial professional who has made significant contributions to the betterment of her organization and profession. The following is an excerpt of her remarks at the event:
“It is a momentous time for finance. As the global economy teeters on the brink, much of the world stands by holding its collective breath. This is, no doubt, a time of great anxiety. That anxiety is shared, not just by 50% of the public or 75% or even 99%. Everyone shares it.
The business pages are filled with examples of companies that have taken big hits to their brands because they’ve made marketing decisions that ran afoul of customer expectations. Take Netflix, and its aborted scheme to divide its streaming and DVD video offerings. Netflix could have avoided its embarrassing reversal if it had experimented on this decision before publically announcing the change.
A majority of companies are now using huge streams of data and sophisticated analytic tools to transform how they strategize, operate, and engage with customers. According to a new global study by MIT Sloan Management Review (MIT SMR), 58% of organizations now apply analytics to create a competitive advantage within their markets or industries, up from 37% just one year ago.
Yet there is a growing gap between the most sophisticated users of data and analytics, and those just getting onto the path towards analytics competency.
MIT SMR’s initial joint study in 2010 identified three progressive levels of analytical sophistication: Aspirational, Experienced and Transformed. When we compared this year’s results to last year’s, we found that Experienced and Transformed organizations are expanding their capabilities and raising their expectations of what analytics can do, while the Aspirational organizations are falling behind. Read More »