Publisher’s note Every possible effort has been made to ensure that the information contained in this book is accurate at the time of going to press, and the publisher and author cannot accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or the author. First published in Great Britain and the United States in 2017 by Kogan Page Limited Second edition published in 2022 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 2nd Floor, 45 Gee Street London EC1V 3RS United Kingdom www.koganpage.com 122 W 27th St, 10th Floor New York, NY 10001 USA 4737/23 Ansari Road Daryaganj New Delhi 110002 India Kogan Page books are printed on paper from sustainable forests. © Bernard Marr, 2017, 2022 The right of Bernard Marr to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBNs Hardback 978 1 3986 0260 1 Paperback 978 1 3986 0258 8 Ebook 978 1 3986 0259 5 British Library Cataloguing-in-Publication Data A CIP record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Names: Marr, Bernard, author. Title: Data strategy: how to profit from a world of big data, analytics and artificial intelligence / Bernard Marr. Description: Second edition. | London, United Kingdom; New York, NY: Kogan Page, 2022. | Includes bibliographical references and index. Identifiers: LCCN 2021033564 (print) | LCCN 2021033565 (ebook) | ISBN 9781398602588 (paperback) | ISBN 9781398602601 (hardback) | ISBN 9781398602595 (ebook) Subjects: LCSH: Business information services. Classification: LCC HF54.5 .M37 2017 (print) | LCC HF54.5 (ebook) | DDC 658.4/038–dc23 LC record available at https://lccn.loc.gov/2021033564 LC ebook record available at https://lccn.loc.gov/2021033565 Typeset by Integra Software Services, Pondicherry Print production managed by Jellyfish Printed and bound by CPI Group (UK) Ltd, Croydon CR0 4YY iv CONTENTS About the author x Acknowledgements xi 01 Introduction: Why every business is now a data business 1 The astonishing growth of data, artificial intelligence and the Internet of Things 1 A brave new (data-driven) world 3 Are we nearing true artificial intelligence? 7 The fourth industrial revolution – or Industry 4.0 8 Other world-changing technologies 10 Why every business must become a data business 11 Notes 13 02 Use cases for data 15 The six key use cases 16 Key data use cases in practice 19 Some industry-specific use cases 21 How data is revolutionizing the world of business 22 03 Using data to improve your business decisions 23 Setting out your key business questions 23 Understanding and interpreting your data 26 Curated data dashboards – the fine dining experience 27 Self-service data exploration dashboards – the raclette grill experience 29 Raclette grill analytics in the real world 30 Data democratization and the role of the data translator 31 Data storytelling 32 The future of data visualization and storytelling 36 04 Using data to understand your customers 39 Understanding customer analytics 40