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Implementing Data Mining Solution for an Automobile Insurance Company: Reconciling Theoretical Benefits with Practical Considerations
Ai Cheo Yeo , and Kate Smith Manufacturer: Idea Group Publishing ProductGroup: Book Binding: Digital ASIN: B00007FYTM Release Date: 2002-11-13 |
Book Description
This case describes an insurance company investigation into the benefits of data mining for an anonymous Australian automobile insurance company. Although the investigation was able to demonstrate quantitative benefits of adopting a data mining approach, there are many practical issues that need to be resolved before the data mining approach can be implemented. This case provides insights into the decision-making process that is involved in exploring emerging technologies.Download Description
This case describes an insurance company investigation into the benefits of data mining for an anonymous Australian automobile insurance company. Although the investigation was able to demonstrate quantitative benefits of adopting a data mining approach, there are many practical issues that need to be resolved before the data mining approach can be implemented. This case provides insights into the decision-making process that is involved in exploring emerging technologies.
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Knowledge Management and Business Model Innovation
Manufacturer: IGI Global ProductGroup: Book Binding: Hardcover ASIN: 1878289985 |
Book Description
We are living in interesting times characterized by increasing digitalization of business enterprises in a global interconnected knowledge economy. With waning euphoria about the first wave of digital e-business enterprises and a sobering dot-com stock market, business model innovation is being recognized as the key enabler that can unleash value creation for new digital enterprises. In contrast to traditional factors of production, knowledge assets and intellectual capital are expected to play a dominant role in determining both valuation and value-creation capabilities of most new age enterprises. Not surprisingly, Knowledge Management for Business Model Innovation is anticipated to be the mantra for survival, competence and success of Net enterprises as well as traditional brick-and-mortar enterprises faced with the challenge of transforming their business models into and beyond click-and-mortar companies.Customer Reviews:
A collection of diverse perspectives on KM frontiers.......2003-01-23
The 25 chapters are drawn from 34 contributors in the U.S., Europe, Asia and Latin America; the compiled material is divided into four sections: KM frameworks, knowledge work, knowledge assets valuation, and organizational aspects of business model innovation. The writing styles are varied, and differing perspectives are offered at the cutting edge of the KM curve.
IT investments have not always been in lock-step with productivity increases, Malhotra rightly begins. For instance, ERP implementations led to an unprecedented level of information sharing across organisational functions - but straitjacketed the information flexibility of information processing for each of the locked-in functions.
And despite contributions of IT via phases like automation, streamlining of procedures, and process re-engineering, there has been little emphasis on business model innovation or rethinking the overall business, argues Malhotra.
Increasing empowerment of online customers, suppliers, partners and other intermediaries have led to a greater impact of external environments on internal logistics of a company, a trend well-exploited by Net pioneers like Amazon.com.
"It is not that traditional brick and mortar companies were not leading users of IT; however, the new Net-based companies have fundamentally redefined the value equations related to their internal value chains and supply chains," says Malhotra.
In such a hyperturbulent and discontinuous environment, he identifies shortcomings in much of the current KM thinking, whose simplistic assumptions may inadvertently make yesterday's archived best practices tomorrow's core rigidities.
"The new business model of the Information Age is marked by fundamental, not incremental, change," he argues. Current KM approaches haven't dealt adequately with the "creative abrasion and creative conflict" that are necessary for business model innovation today.
KM should embody the organisational processes that seek synergistic combination of data and information-processing capacity of information technologies on the one hand, and the creative and innovative capacity of human beings on the other, Malhotra advocates.
Management strategies need to shift from command and control - to sense and respond. KM processes should be focused on doing the right thing (effectiveness), not just doing the thing right (efficiency). KM is not merely about bottling water from rivers of data, but about giving people canoes and compasses to navigate in these rivers of data. Instead of just codified best practices and enterprise portals, the emphasis should be on unlearning ineffective best practices and the continuous refinement and pursuit of better practices.
Other KM framework writers in the book also agree with some of these positions. Dealing with complexity, equivocality, uncertainty, and ambiguity in today's environment can lead to information overload and collapse of sense-making in a company.
Tools like the knowledge matrix can be used for knowledge accounting and management in a company, especially for managing fuzzy boundaries between external entities where decisions about outsourcing and alliancing need to be made (particularly in the case of global operators).
KM practices can differ according to the nature of the organization: project-based (eg. construction industry), umbrella corporations (eg. GE), virtual business communities (eg. the Linux movement on the Internet), and the multi-directional network (eg. lobbies of SMEs in Taiwan).
In terms of new approaches to knowledge work, Malhotra advocates a movement away from hi-tech hidebound KM systems to one of more creative chaos, greater social interaction, playfulness in organisational choices, and strategic planning as anticipation of surprise.
Care should be taken to ensure that IT-driven KM strategy does not become mechanistic and objectify and calcify knowledge into static, inert information, thus disregarding the role of tacit knowledge.
A useful way of planning for increased information flows among mobile workers is via a two-dimensional grid for different/same time/place interactions, with tools like Intranet-based email, videoconferencing, and meetings. Challenges can arise in virtual organizations which allow tele-work, due to possibility of overwork, stress, and isolation among its knowledge workers.
New kinds of `knowledge toolboxes' are called for to effectively measure human capital and organisational culture elements like trust, and to actually use these measures. Stakeholder knowledge values lie at different levels: employee (self-actualisation), customer (product adoption capability), and top management (cohesiveness, motivation).
A very interesting chapter offers an example of assessing knowledge capital at the national economic level, while planning for growth and performance for the entire country.
Going beyond measures of GDP, a joint Swedish-Israeli study assessed Israel's intellectual assets in 1997 in terms of financial capital (productivity, exports), market capital (diffusion of new products, participation in international events, openness to different cultures, language skills), process capital (computerization and communications infrastructure, Internet usage, newspaper circulation, student-teacher ratio, innovation, top management international experience, entrepreneurship, VC funds, immigration), human capital (equal employment opportunities, percentage of book distribution, health rates), and renewal and development capital (civilian R&D expenditures, scientific publications, patents, startups).
Another chapter extends such valuation considerations to public-private partnerships, involving academia, industry and government, which are becoming increasingly necessary as no organization or country can on its own generate all the knowledge it may need.
Priorities, timelines, domains and financial expectations for each sector vary, and these in turn influence the nature of knowledge assets generated by a country and their monetary attachments, eg. financing of new research for the industry or for citizens at large.
At the KM tool level, researchers and entrepreneurs are racing to create the next generation of effective KM applications and infrastructure, including communication, storage, gathering, dissemination, and synthesis. Ernst&Young predicts that KM has the potential to exceed ERP as an application opportunity.
CKOs play a key role in organizations, in managing corporate knowledge capital and championing knowledge-centric cultures; they require a blend of technical, human and financial skills.
In sum, this is a comprehensive collection of case studies and analysis at the cutting edge of KM practice. The diverse range of material makes for an interesting and informative for advanced KM professionals.
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International Economic Negotiations: Models Versus Reality (Elgar Monographs)
Manufacturer: Edward Elgar Publishing ProductGroup: Book Binding: Hardcover ASIN: 1840641673 |
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Modelling Reality and Personal Modelling (Contributions to Management Science)
Manufacturer: Physica-Verlag ProductGroup: Book Binding: Paperback ASIN: 379080682X |
Book Description
This book is on the theory and practice of quantitative financial research that is taking place in Europe. It tries to demonstrate the variety of research that is currently being undertaken. This ranges from the practical, eg. - the financing of small firms in the Netherlands - the use of subjectivity in forecasting - the management of swap portfolios through empirical, eg. - an examination of various European stock indices - the construction of a European index fund - simulation of pension funds - pricing of mortgage-backed securities using parallel processing to the purely theoretical, eg. - the relationship between dominance and the internal rate of return - the behaviour of market traders - the allocation of assets under risk aversion. The volume contains work of interest to all researchers in and consumers of quantitative financial work.
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Models and Reality in Economics (Advances in Economic Methodology Series)
Steven Rappaport Manufacturer: Edward Elgar Pub ProductGroup: Book Binding: Hardcover ASIN: 1858985757 |
Book Description
Models and Reality in Economics is an important contribution to the philosophy of economics and the conduct of inquiry in economics. It examines what economists do and what economics is about.The book opens with a critical discussion of the work of McCloskey and the rhetorical approach to understanding economics. It then goes on to address the question of whether economics is a science. In answering this question the author examines three main concepts: first, whether economics meets a methodological standard, concluding that if the standard is not reached then it is a non-science; secondly, whether economics has a certain kind of content, such as a body of fundamental laws; and finally, whether it includes ideal theories or hypotheses which omit certain real world complications. From this discussion, the author suggests that the rhetorical approach and the question of whether economics is a science should be replaced with the idea that models are the central foundation of economic inquiry. He goes on to discuss the character of economic models and the idea that much economic thinking is concerned with the construction of models to resolve conceptual problems and explain real world economic phenomena. The book sheds new light on existing methodology and proposes new areas for future research. Models and Reality in Economics will be welcomed by those interested in the developments in economic methodology and philosophy, and those concerned with the progress and prospects of economics in general
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The Leipzig Model: Myth or Reality?
Garcia-Zamor Jean-Claude Manufacturer: University Press of America ProductGroup: Book Binding: Paperback ASIN: 0761838902 |
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Evaluating predictive performance of value-at-risk models in emerging markets: A reality check (Working paper in economics)
Tae-Hwy Lee Manufacturer: Dept. of Economics, University of California, Riverside ProductGroup: Book Binding: Unknown Binding ASIN: B0006RPQ4C |
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Growth economics and reality (NBER working paper series)
William A Brock Manufacturer: National Bureau of Economic Research ProductGroup: Book Binding: Unknown Binding ASIN: B0006RJHE2 |
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Growth empirics and reality (SSRI working paper series)
William A Brock Manufacturer: Social Systems Research Institute, University of Wisconsin ProductGroup: Book Binding: Unknown Binding ASIN: B0006S1MDU |
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Oil Wealth and the Fate of the Forest (Routledge Explorations in Environmentaleconomics, 2)
Sven Wunder Manufacturer: Routledge ProductGroup: Book Binding: Hardcover ASIN: 0415278678 |
Book Description
Oil-related activities damage tropical rainforests, but this is just one side of a complicated story.
This book, a study of oil producing countries, looks at the linkages between macroeconomic trends and how policies affect the environment. In a balanced and comprehensive review, Sven Wunder, shows that oil revenues can indirectly come to protect tropical rainforests using case studies based on eight countries including Cameroon, Ecuador, Gabon, Papua New Guinea and Venezuela.
This topical, accessible and readable book has immediate and direct implications for policy formulation that help decide what can be done to diminish deforestation without jeopardizing economic growth. This book needs to be read not only by students and academics involved in environmental economics, but also by all those involved in policymaking.
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Explorations in Pragmatic Economics
George Akerlof Manufacturer: Oxford University Press, USA ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0199253900 |
Book Description
Akerlof illustrates how his 'modern', Nobel Prize-winning methodology of using 'tailor-made' economic models to solve problems differs from the standard, benchmark, all-encompassing general-equilibrium-perfect competition-based methodology.
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Consuming Cultures: Power and Resistance (Explorations in Sociology)
Manufacturer: Palgrave Macmillan ProductGroup: Book Binding: Hardcover ASIN: 0312218826 |
Book Description
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Meanings of the Market: The Free Market in Western Culture (Explorations in Anthropology)
Manufacturer: Berg Publishers ProductGroup: Book Binding: Paperback ASIN: 185973149X |
Book Description
For almost twenty years, the 'Free Market' has been a central feature of public debate in the West, Eastern Europe and elsewhere. In the name of the Market and its supposed benefits, governments and international agencies have imposed massive changes on peoples' lives.Curiously, scholars have paid little attention to the ways that the idea of the Market is invoked, to what it might mean and how it is being used. This book helps correct that state of affairs. Focusing on the United States, where the Market model is strongest, authors analyze portrayals of the Market, its values and the people within it, as a way of teasing out its assumptions and contradictions. They also describe extensions and practical applications of the Market model in policy-making in the United States and in explaining how firms work, show its political strengths and conceptual limitations.In bringing rigor and sustained critical analysis to a topic of growing global significance, this truly interdisciplinary study represents a coherent and incisive contribution to anthropology, sociology, politics, history and economics, as it challenges these disciplines to come to grips with one of the most potent cultural symbols of postmodernity.
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The Biological Standard of Living on Three Continents: Further Explorations in Anthropometric History
Manufacturer: Westview Pr (Short Disc) ProductGroup: Book Binding: Hardcover ASIN: 0813320550 |
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Creating Capitalism: The State and Small Business Since 1945 (Explorations in Social Structures)
Linda Weiss Manufacturer: Blackwell Publishers ProductGroup: Book Binding: Hardcover ASIN: 0631157336 |
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Explorations in Economic Methodology: From Lakatos to Empirical Philosophy of Science (Routledge Frontiers of Political Economy, 17)
R. Backhouse Manufacturer: Routledge ProductGroup: Book Binding: Library Binding ASIN: 0415174708 |
Book Description
Is methodology fruitless? Intense controversy has resulted from attempts to understand economics through philosophy of science. This collection clarifies and responds to the issues raised, arguing that methodology is an essential activity.
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Roger Backhouse is a key figure in the field of economic methodology and this collection of his essays both clarifies and responds to the issues raised by recent literature that methodology is a fruitless exercise.
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Explorations in Macroeconomics
James F. Willis , Gloria Hom , and Martin L. Primack Manufacturer: Cat Pub Co ProductGroup: Book Binding: Paperback ASIN: 1562263463 |
Customer Reviews:
Wonderful Text, Brilliant Writing.......2001-05-23
Outstanding Economics Narrative.......2000-03-25
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Explorations in Macroeconomics
George Quansah Manufacturer: Cat Pub Co ProductGroup: Book Binding: Paperback ASIN: 1562264168 |
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Explorations in Macroeconomics
Manufacturer: North West Pub Llc ProductGroup: Book Binding: Paperback ASIN: 0971101744 |
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Congratulations! Now What? A Book for Graduates
Bill Cosby Manufacturer: Hyperion ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0786865725 |
Amazon.com
Just as a spoonful of sugar helps the medicine go down, so a spoonful of humor helps the wisdom go down. In Congratulations! Now What? America's funnyman Bill Cosby gently ribs college graduates about their time spent--or lost--in the hallowed halls of the university and postulates what four years of higher education have suited them for: "[If no job offer] ever turns up with a four-day week, a three-hour lunch, and a holiday for Count Basie's birthday, you still might be able to make a few dollars on Jeopardy." But he also assures graduates that their studies were not in vain and bestows advice to job seekers. Those who acquired several piercings while in school are cautioned to make sure the studs and hoops are shined before going to an interview. Those who are buffing their first professional résumé are advised to strike a tone somewhere between "lyrical lying and fanciful fraud."Cosby, whose successful career as a humorist has always turned on his affection for kids, is a regular speaker at college commencements--in the chapter "As I Look Out at Your Foggy Faces," he says it's a hobby of his--and this 130-page book collects bons mots and sage advice from speeches given because he has "a feeling for anesthesiology." Graduates--and their now-broke parents--will find a reason to smile on every page. --Brenda Pittsley
Customer Reviews:
Wrong Audience, Wrong Tone.......2007-04-03
An angry book from cosby?.......2006-03-08
Classic, Absolutely Classic.......2005-12-30
Funny Enigma -- A Book For... Whom?.......2003-06-19
One of the major "problems" with this book might be the title. This is, in fact, NOT a book FOR graduates. It IS a book ABOUT graduates from a parent's point of view. The point of view is very important, because it has everything to do with the prism through which the humor is presented. A been-there-done-that parent sees the world very differently from their green-as-grass new grads. A new grad who has yet to pay a rent check to Attilla The Hun can't possibly know what that's like, therefore the reference will be unfunny, maybe even a little scary. Therefore, I wonder if the title choice wasn't made by a publisher marketing suit who hadn't read the book...
Nonetheless, the book still isn't one of Mr. Cosby's strongest efforts. Doubtless, this book would be far funnier in audio format with Mr. Cosby as the reader, as his vocal inflections can paint word pictures worth 1,000 additional words. Unfortuneately, I was left with my own, quite unfunny internal voice that had me smiling alot but never laughing aloud.
I would not recommend giving this as a graduation present to your 22-year-old grad fresh out of the dorms, but their parents might enjoy it.
pessimistic and unrealistic.......2003-05-22
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Congratulations! Now What?
Bill Cosby Manufacturer: Hyperion ProductGroup: Book Binding: Hardcover ASIN: B000PXLHW2 |
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Big deal! Now what? Congratulations, you've scored a huge client. Now the real work can begin.(Biz 101): An article from: Entrepreneur
Nichole L. Torres Manufacturer: Entrepreneur Media, Inc. ProductGroup: Book Binding: Digital ASIN: B00096TJRA Release Date: 2005-04-19 |
Book Description
This digital document is an article from Entrepreneur, published by Entrepreneur Media, Inc. on February 1, 2003. The length of the article is 354 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Congratulations, you received a job offer! Now what? How to evaluate a job offer. : An article from: The Black Collegian
Walter C. Vertreace Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B000FOQ8PM Release Date: 2006-05-12 |
Book Description
This digital document is an article from The Black Collegian, published by Thomson Gale on February 1, 2006. The length of the article is 1812 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Congratulations, you're a manager! Now what? First-time supervisors should properly prepare for the new challenges.(CAREER MANAGEMENT) : An article from: Black Enterprise
Sonja D. Brown Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B000FBHPMK Release Date: 2006-04-06 |
Book Description
This digital document is an article from Black Enterprise, published by Thomson Gale on April 1, 2006. The length of the article is 2308 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Congratulations! You're elected...now what?
Hardin Cox Manufacturer: Campaign Associates Press ProductGroup: Book Binding: Unknown Binding ASIN: B0006WM262 |
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