scholarly journals A New Digital Approach to Strategic Activities

2020 ◽  
Vol 1 (2) ◽  
pp. 12-24
Author(s):  
Paolo Bongarzoni
Keyword(s):  
Best Practices ◽  
Return On Investment ◽  
Business Performance ◽  
Digital Technologies ◽  
Data Driven ◽  
Business Growth ◽  
Management Consultants ◽  
Strategy Process ◽  
High Return ◽  
Time Savings

As automation increasingly influences businesses, digitalization technologies and tools such as artificial intelligence, machine learning, etc., become essential to support the definition and implementation of strategy activities aimed at improving businesses' competitiveness in the digital, cloud-based, and data-driven world. Since this business growth corresponds to an enormous increase in the data volumes, it is fundamental for businesses to adopt several digital solutions in their strategy process together with a tailored digital strategy embedded in their strategic plan. The purpose of this article is to critically analyse the classic strategy activities' latest trends/needs and how they could be properly addressed by the available digital technologies. Finally, for every activity are mentioned some best practices tools and software, supported by management consultants, since they trigger a high return on investment in term of the time savings, less dedicated resources, and final business performance.

Practicing for Business Intelligence Application with SQL Server 2008

2010 ◽  
Vol 20-23 ◽  
pp. 1499-1503
Author(s):  
Zhi Jun Ren
Keyword(s):  
Best Practices ◽  
Business Intelligence ◽  
Return On Investment ◽  
Sql Server ◽  
High Return ◽  
Successful Business ◽  
Intelligence Application ◽  
Very High

Successful business intelligence application used by an enterprise often produces a very high return on investment. This paper introduces the application of best practices to business intelligence infrastructure with SQL Server 2008.

Optimising Well Times Through Drilling Connection Practices

2021 ◽  
Author(s):  
Faisal Mohd Mazlan ◽  
Ahmad Zhafran Ahmad Redzuan ◽  
Mohd Idzwan Amiruddin ◽  
Ahmad Faizal Ramli ◽  
Pete Slagel ◽  
...  
Keyword(s):  
Best Practices ◽  
Significant Risk ◽  
Data Driven ◽  
Drilling Performance ◽  
Change In Practice ◽  
Data Driven Approach ◽  
Drilling Operations ◽  
Historical Databases ◽  
Additional Costs ◽  
Time Savings

Abstract From an operator's perspective, many operational instructions are written implicitly that are not sufficiently detailed to optimize drilling efficiency. Upon a review of several partner operators’ drilling performance, it was noticed that there was a significant focus on the following aspects of technical limit drilling: ROP, tripping speeds, offline activities and connection times. One operator specifically reviewed Gulf-of-Thailand best practices and implemented them in Malaysia. One of the significant areas of improvement includes drilling connections. In the previous version, PETRONAS Malaysia Drilling Operations follows a conservative ERD connection method requiring to ream a single/stand, take a good survey a minimum 10m off bottom prior to making a connection and applied to all wells regardless of inclination or complexity. This was in response to risk of stuck pipe incidents happening during these critical static periods. A comparison of the connection times after their change in practice compared to PCSB practices given the same tools and well complexity indicated massive potential time savings with no additional costs. A change in the drilling connection practices could easily save almost half of this particular "flat time" with no significant risk, amounting to a possible saving of almost 26 hours in a well of around 3000m MDDF. This also led to a better understanding of the impacts of certain "rule-of-thumb" practices that needed to be questioned from time to time. This comparison coupled with many existing literatures available allowed a data-driven approach to improving well times. Some of this information is easily glossed over considering the only time-based data most wells refer to would be the Daily Drilling Report. This paper also emphasizes the importance of data collection and usage of historical databases to search for more opportunities in terms of safety, cost and time.

Dark data: the invisible resource that can drive performance now

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gregory Gimpel
Keyword(s):  
Return On Investment ◽  
Business Performance ◽  
Design Methodology ◽  
Extensive Study ◽  
Data Driven ◽  
Expert Advice ◽  
Research Articles ◽  
Content Type ◽  
The Internet Of Things ◽  
Practical Implications

Purpose This paper aims to provide guidance so firms can enter the Internet of Things (IoT) era today – and realize its data-driven benefits – by using IoT “dark data” already generated by their operations. Design/methodology/approach This study draws upon data from original expert interviews and an extensive study of over 1,200 research articles and white papers to provide managerial guidance for exploiting IoT dark data. Findings Many companies are held back from entering the IoT era today, not by technological issues, but by matters addressable by managerial and strategic leadership. Executives must build dark data awareness among their employees and use non-traditional measures to predict return on investment. The study shares expert advice for accomplishing both of these efforts. Research limitations/implications Only 3 out of 1,202 research articles addressed IoT dark data. This paper helps fill this gap in understanding. Practical implications This study provides normative guidelines for managers and executives to increase awareness of the dark IoT data that exist within their organizations and to motivate the investments needed to exploit this data to improve business performance. Originality/value This research provides guidance for companies to benefit from the IoT today. This study provides an alternate, pragmatic view of Industry 4.0 that focuses on current business reality rather than futurist visions.

scholarly journals Beyond building predictive models: TwinOps in biomanufacturing

2021 ◽  
Author(s):  
Elisa Canzani ◽  
Sander W. Timmer
Keyword(s):  
Best Practices ◽  
Predictive Models ◽  
Paradigm Shift ◽  
Digital Technologies ◽  
Data Driven ◽  
Biopharmaceutical Industry ◽  
Digital Twin ◽  
Digital Twins ◽  
Technical Challenges ◽  
And Control

<div>On the wave of more and more manufacturers embracing the pervasive mission to build digital twins, also biopharmaceutical industry envisions a significant paradigm shift of digitalisation towards an intelligent factory where bioprocesses continuously learn from data to optimise and control productivity. While extensive efforts are made to build and combine the best mechanistic and data-driven models, there has not been a complete digital twin application in pharma. One of the main reasons is that production deployment becomes more complex regarding the possible impact such digital technologies could have on vaccine products and ultimately on patients. To address current technical challenges and fill regulatory gaps, this paper explores some best practices for TwinOps in biomanufacturing – from experiment to GxP validation – and discusses approaches to oversight and compliance that could work with these best practices towards building bioprocess digital twins at scale.</div>

scholarly journals Beyond building predictive models: TwinOps in biomanufacturing

2021 ◽  
Author(s):  
Elisa Canzani ◽  
Sander W. Timmer
Keyword(s):  
Best Practices ◽  
Predictive Models ◽  
Paradigm Shift ◽  
Digital Technologies ◽  
Data Driven ◽  
Biopharmaceutical Industry ◽  
Digital Twin ◽  
Digital Twins ◽  
Technical Challenges ◽  
And Control

<div>On the wave of more and more manufacturers embracing the pervasive mission to build digital twins, also biopharmaceutical industry envisions a significant paradigm shift of digitalisation towards an intelligent factory where bioprocesses continuously learn from data to optimise and control productivity. While extensive efforts are made to build and combine the best mechanistic and data-driven models, there has not been a complete digital twin application in pharma. One of the main reasons is that production deployment becomes more complex regarding the possible impact such digital technologies could have on vaccine products and ultimately on patients. To address current technical challenges and fill regulatory gaps, this paper explores some best practices for TwinOps in biomanufacturing – from experiment to GxP validation – and discusses approaches to oversight and compliance that could work with these best practices towards building bioprocess digital twins at scale.</div>

Social Networks and Business Performance of Igbo Migrant Traders in Ibadan, South-West Nigeria

2014 ◽  
Vol 12 (2) ◽  
Author(s):  
Deborah O. Obor ◽  
Emeka E. Okafor
Keyword(s):  
Social Support ◽  
Social Networks ◽  
Social Network ◽  
Social Exchange ◽  
Business Performance ◽  
Exploratory Research ◽  
Business Growth ◽  
South West ◽  
Key Informant ◽  
Depth Interviews

This study focused on social networks and business performance among Igbo businessmen in Ibadan, South-west Nigeria through the exploratory research design. Social exchange, social network and social capital theories were employed as theoretical framework. Twenty-six in-depth interviews, key informant interviews and case studies were conducted with purposively selected respondents in four business locations in Ibadan. The results showed that among the factors that facilitated migration of the Igbo to Ibadan were their interest to learn a trade, their inability to attain higher education, and having a relative in Ibadan. The types of social networks available showed that social network was not location bound, as all the respondents belonged to town progressive unions and mutual benefits/cooperative associations. Social networks played vital roles in business performance, including social support, access to loan, business growth and expansion. The main challenges to maintaining adequate social network in business were distrust, envy, unbridled competition, dishonesty and inability to keep terms of agreement. The study concludes that social networks have positively influenced the business performance of migrant Igbo in Ibadan. There is need for the Igbo to strengthen their social networks through honesty, forthrightness, and transparency in all their dealings.

IAFECT™: a management tool to ensure effective technology training in the drinking water industry

2003 ◽  
Vol 3 (1-2) ◽  
pp. 449-454
Author(s):  
M.C. Steynberg ◽  
A. Vermeulen
Keyword(s):  
Return On Investment ◽  
Multidisciplinary Approach ◽  
Systematic Approach ◽  
Technology Training ◽  
Management Tool ◽  
Technical Competence ◽  
Water Industry ◽  
Training Environment ◽  
High Return ◽  
Effective Technology

For years training was evaluated with measures such as numbers of participants, number of programs, length of programs, cost of programs and content of programs. These input focused measures have to be replaced by output focused measures. The output focused measures include learning profile and whole brain approach for the learner, competency requirements for the job, management’s role before, during and after training as well as the competency of the trainer and the effectiveness of the training environment. However, to ensure that the highest possible scores for these measures can be achieved, a multidisciplinary approach is of paramount importance. The purpose of this article is to demonstrate the IAFECT™ management tool designed to ensure effective technology training. IAFECT™ is a systematic approach that involves all stakeholders. It focuses on technical competence and a high Return-On-Investment.

The vigorous development of data driven astronomy education and public outreach (DAEPO)

2019 ◽  
Vol 15 (S367) ◽  
pp. 199-209
Author(s):  
Shanshan Li ◽  
Chenzhou Cui ◽  
Cuilan Qiao ◽  
Dongwei Fan ◽  
Changhua Li ◽  
...  
Keyword(s):  
Best Practices ◽  
Rapid Evolution ◽  
Internet Technology ◽  
Data Driven ◽  
Public Outreach ◽  
Continuous Change ◽  
Astronomy Education ◽  
The Past ◽  
Education And Public Outreach ◽  
Science Educators

AbstractAstronomy education and public outreach (EPO) is one of the important part of the future development of astronomy. During the past few years, as the rapid evolution of Internet and the continuous change of policy, the breeding environment of science EPO keep improving and the number of related projects show a booming trend. EPO is no longer just a matter of to teachers and science educators but also attracted the attention of professional astronomers. Among all activates of astronomy EPO, the data driven astronomy education and public outreach (abbreviated as DAEPO) is special and important. It benefits from the development of Big Data and Internet technology and is full of flexibility and diversity. We will present the history, definition, best practices and prospective development of DAEPO for better understanding this active field.

scholarly journals ESTIMATION OF BUSINESS VALUE AS AN ELEMENT OF FORMATION OF BUSINESS MODELS OF INDUSTRIAL ENTERPRISES AND AGRICULTURAL COMPLEX IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

2020 ◽  
Author(s):  
Maksym Odnorog ◽  
◽  
Mykhailo Pivtorak ◽  
Oksana Zagorodniuk ◽  
◽  
...  
Keyword(s):  
Best Practices ◽  
Business Models ◽  
Business Processes ◽  
New Technologies ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Transformation ◽  
Enterprise Management ◽  
Industrial Enterprises ◽  
Digital Management

To date, digital technologies and their widespread practice have formed the potential for completely new business models. However, most organizations are either in the early stages of the digital transformation process, or do not yet dare to form a digital business model that will provide real benefits from digital technologies. In any case, taking into account the enormous pace of global digitalization, it is extremely important to adapt the best practices of digital transformation to the improvement of the Ukrainian economy as soon as possible. Based on this, consider the process of researching new and adapting existing management models. Digital transformation – the introduction of modern technologies to radically change the business models of enterprise management today is considered the most important topic for organizations around the world. The requirements of the new digital economy represent the digital transformation as a conscious strategic process of business modification through adaptive management and implementation of digital technologies, ie the restructuring of existing business models. The same happens at industrial and agro-industrial enterprises, the analog period of which is coming to an end. Industries are entering the digital age, thanks to which enterprises are developing in accordance with the new focus. For this reason, it is very important for the formation of digital models of enterprise management to strategically understand the possibilities of digital technology development in their connection with business processes and business models. The analysis of the main traditional models of effective management of enterprises was carried out and their fundamental differences from the Ukrainian approach to management were revealed, the possibilities of implementation of the principles of existing business models by Ukrainian enterprises were considered. In addition, a roadmap for the transition from a traditional to a digital enterprise was proposed for consideration. The process of modeling the digital management system of the enterprise is revealed. Currently, a prerequisite for the prosperity of the economy of industry and agriculture and, consequently, the economy of Ukraine, is adaptive digital management as a basis for economic security of the enterprise. It was found that the relentless introduction of digital technologies, «copying best practices» can later be in reality as dangerous as the refusal to master new technologies. Therefore, choosing the direction of your own digitization, you must first study everything thoroughly, so as not to miss the moment and not to remain in the ranks of the latter or in the past.

scholarly journals Impact of Digital Technologies on Business Performance in Serbia

2021 ◽  
Author(s):  
Ernad Kahrović ◽  
Atif Avdović
Keyword(s):  
Business Performance ◽  
Statistical Significance ◽  
Research Question ◽  
Digital Technologies ◽  
General Information ◽  
Mobile Technologies ◽  
Ordinal Scale ◽  
Business Transformation ◽  
Market Expansion ◽  
The Impact

Research Question: The main goal of the study was to investigate the degree to which Serbian businesses accept and use digital technologies as part of the digital business transformation process. Motivation: The main aim was to research the specific determinants of the digital economy, digital technology and digital business transformation. Through an empirical analysis, digital technologies were classified as primary and secondary and the motive was to examine whether digital technologies affect revenue growth, productivity improvement, increase in market share, customer satisfaction and employee satisfaction, reduction in operating costs, development and use of digital products, digital market expansion and digital platform development. Idea: The main idea behind the study was to determine to what extent the said technologies are employed in Serbian businesses, as well as to develop a model of the impact of digital technologies on business performance, which may serve as a basis for further research. Data: The research was conducted from October 2020 to March 2021. A questionnaire was sent to over 500 email addresses of Serbian companies, and 98 questionnaires were filled in and duly returned. We displayed the most important characteristics of our sample and that way pointed out its randomness and representativeness and explained the choice of data analytics methods we use. Tools: The research instrument was a questionnaire including the general information (Part I). Part II included the question regarding the primary and secondary digital technologies used in their daily business activities. In Part III, the participants were required to state the specific outcomes their company expects to obtain as a result of digital business transformation. Findings: Mobile technologies, social networks and cloud computing were found to be dominantly employed technologies by the Serbian businesses from the sample. In percentage terms, the second class of disruptive technologies was shown to be insignificantly present in the Serbian companies. Finally, it appears that the role and importance of robotics and artificial intelligence have started to be recognised on the business scene. There is a significant impact of digital technologies on business performances, and we also give correlations between specific digital technologies and business performances, and intensity and statistical significance of impact in each case. We have also determined that some significant technologies make a latent, indirect impact on performances and shown the way that occurs. The analysis is performed after standardizing the ordinal scale values of variables making the results more accurate. Contribution: The paper provides the state of affairs regarding digital technologies use by Serbian businesses, as well as that of digital business transformation.

Sign in / Sign up

Export Citation Format

Share Document