Raveen

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How AI Is Changing Sales

Companies are using AI in all kinds of innovative ways to advance their businesses. If you’ve ever searched Netflix to watch a movie, AI (a recommendation algorithm) was no doubt used in your decision about what to watch. If you’ve shopped on Amazon, your decision about what to buy was also …

Artificial Intelligence

The Most Commonly Cited Barriers to Innovation in Large Companies? Internal Politics

It turns out that the word “innovation” is not a Harry Potter-esque magical incantation that, once spoken, renders companies more inventive, creative, and entrepreneurial. The word can be uttered by a CEO speaking to employees or Wall Street analysts. It can be emblazoned on the door to a new …

Innovation

How to Stop Saying “Um,” “Ah,” and “You Know”

Um.<p>Ah.<p>So.<p>You Know.<p>Like.<p>Right?<p>Well.<p>When we find ourselves rattled while speaking — whether we’re nervous, distracted, or at a loss for what comes next — it’s easy to lean on filler words. These may give us a moment to collect our thoughts before we press on, and in some cases, they may be useful …

Body Language

The Right Way to Spend Your Innovation Budget

Innovation is famously difficult — many projects end up losing money, frustrating employees, and going nowhere. And yet corporations and governments spend billions of dollars annually pursuing innovation. This huge spending would generate more value for businesses and societies if the innovation …

Innovation

Why AI Will Shift Decision Making from the C-Suite to the Front Line

Hardly a day goes by without the announcement of an incredible new frontier in Artificial Intelligence (AI). From fintech to edtech, what was once fantastically improbable is now a commercial reality. There is no question that big data and AI will bring about important advances in the realm of …

Artificial Intelligence

How Smart Speakers Are Poised to Reinvent the Travel Industry

Marriott recently teamed up with Amazon to offer a hospitality version of the e-commerce giant’s Echo devices in select hotel rooms. Now, when guests want to order room service or housekeeping, they can simply ask Alexa, the voice of their disembodied personal concierge. Travelers with an Alexa …

Smart Speaker

What MoviePass Can Teach Us About the Future of Subscription Businesses

It has been a very rough few months for MoviePass. Since I last wrote about the company, theater operator AMC entered the subscription market, to early success, and MoviePass took out and paid back a $6 million emergency loan and flip-flopped both its pricing and its product. Lately the company has …

MoviePass

New Supply Chain Jobs Are Emerging as AI Takes Hold

Companies are cutting supply chain complexity and accelerating responsiveness using the tools of artificial intelligence. Through AI, machine learning, robotics, and advanced analytics, firms are augmenting knowledge-intensive areas such as supply chain planning, customer order management, and …

Artificial Intelligence

How B2B Software Vendors Can Help Their Customers Benchmark

Knowing which organizations perform the best on any particular dimension used to require subjective surveys or painstaking research. Today, the data to answer those questions exists — it’s captured by the software-as-a-service firms whose services companies use to run their businesses. Mainstream …

Customers

What Subscription Business Models Mean for Sales Teams

Across the technology industry, subscription sales models are growing in popularity. The trend is having a big impact on sales forces. For example, an enterprise software company recently transitioned from selling custom software as a one-time product to selling monthly SaaS (software as a service) …

Network Effects Matter Less Than They Used To. That’s a Really Big Deal.

When we teach strategy to MBA students, they want magic bullets, things they can do to make their companies thrive forever. For a long time we emphasized “network effects” as a potential secret sauce for business models. Economists use “network effects” to describe contexts where a good or service …

Google Docs

To Understand the Future of Tesla, Look to the History of GM

The entrepreneur who founded and grew the largest startup in the world to $10 billion in revenue and got fired is someone you have probably never heard of. The guy who replaced him invented the idea of the modern corporation. If you want to understand the future of Tesla, and Elon Musk’s role in it …

Data May Be the New Oil, but Having Lots of It May Not Make You Rich

AI is coming. That is what we heard throughout 2017 and will likely continue to hear throughout this year. For established businesses that are not Google or Facebook, a natural question to ask is: What have we got that is going to allow us to survive this transition?<p>In our experience, when business …

Why the Lean Start-Up Changes Everything

New ventures are searching for a business model, not executing one. Download a customizable version of this video slide deck here.

Lean Startups

As AI Makes More Decisions, the Nature of Leadership Will Change

It is tempting to regard artificial intelligence as a threat to human leadership. After all, the very purpose of AI is to augment, improve, and ultimately replace human intelligence, which is still widely regarded, at least by us humans, as our key competitive advantage. There is no reason to …

Data Can Enhance Creative Projects — Just Look at Netflix

Nearly five years ago, a show that followed the lives of inmates in a women’s prison shook up television. <i>Orange Is the New Black</i> became an unexpected hit, helping to put Netflix on the map as a creator of innovative original entertainment. The show pushed boundaries with its dark humor and diverse …

Mental Disorders

Research: How Customers Decide Whether to Buy from Your Website

Sally’s finger hovered over the “Purchase” button. After hours of online sleuthing, she was pretty sure the green chair would complete her living room. It was the style and color she wanted, home delivery was guaranteed within three days, she had money in the bank to pay for it, and both the …

Controlling Your Emotions During a Negotiation

<b>Moshe Cohen,</b> a senior lecturer at Boston University’s Questrom School of Business, says you can’t take the emotion out of a negotiation. After all, negotiations revolve around conflict, risk, and reward—which are inherently emotional. Instead of sidelining your feelings, understand them. Cohen …

How Will AI Change Work? Here Are 5 Schools of Thought

The future of the workforce is one of the biggest issues facing CEOs today. It’s abundantly clear to all that artificial intelligence, big data analytics, and advanced robotics make it possible for machines to take on tasks that once required a person to do them. How should companies prepare, …

Machine Learning Can Help B2B Firms Learn More About Their Customers

Much of the strategic focus in the digital economy thus far has revolved around getting better insights into consumers. B2C firms have been the leaders in customer analytics initiatives. E-commerce, mobile commerce, and social media platforms have enabled businesses to better sculpt marketing and …

Contribution Margin: What It Is, How to Calculate It, and Why You Need It

When you run a company, it’s obviously important to understand how profitable the business is. Many leaders look at profit margin, which measures the total amount by which revenue from sales exceeds costs. But if you want to understand how a specific product contributes to the company’s profit, you …

Apple: Luxury Brand or Mass Marketer?

It’s easy to make a case that Apple is now positioning itself to become more of a provider of luxury-level technology. Between recent high-profile hires from the fashion and watch industries to the rumored 18-karat gold Apple Watch, some observers are fretting about the company’s trend toward …

How Retailers Use Personalized Prices to Test What You’re Willing to Pay

Have you ever looked up flights or hotels on an app on your phone, only to open your laptop and see different prices?<p>That’s exactly what happened to me recently. I was using Orbitz’s iPhone app to research a vacation package to New York City. Settling on a hotel, I accessed Orbitz’s website on my …

eCommerce

The Business of Artificial Intelligence

Inside Facebook’s AI Workshop

Within Facebook’s cavernous Building 20, about halfway between the lobby (panoramic views of the Ravenswood Slough) and the kitchen (hot breakfast, smoothies, gourmet coffee), in a small conference room called Lollapalooza, Joaquin Candela is trying to explain artificial intelligence to a layperson.<p>…

How Retail Can Thrive in a World Without Stores

Historically, shopping has been a sensory experience. Store associates served as personal shoppers, helping customers pick out items. Shoppers gauged quality by the look and feel of a product. They asked for sales associates’ opinions when they tried on clothes. It was as much an emotional …

A Refresher on Marketing ROI

Companies spend a lot on marketing communications. In fact, global spending on media is expected to reach $2.1 trillion in 2019, up from $1.6 trillion in 2014. But is all that money well spent? And more fundamentally, does marketing actually work? Marketing ROI analysis can help answer those …

How AI Will Change the Way We Make Decisions

With the recent explosion in AI, there has been the understandable concern about its potential impact on human work. Plenty of people have tried to predict which industries and jobs will be most affected, and which skills will be most in demand. (Should you learn to code? Or will AI replace coders …

Artificial Intelligence, Real Food

Chef Watson can’t chop, dice, or julienne. “He” has no taste buds or appetite. But ask the chef for a recommendation on cooking with green olives, and his knowledge is vast, incorporating data points from a library of recipes and an encyclopedia of flavor profiles.<p>One of the early applications of …

Your Mobile Strategy Can’t Just Be About Phones

Ten years ago, Apple released the first iPhone. This set into motion a cycle of innovation and transformation that has touched nearly every business in the world in some way or another. The size and scope of the opportunities the mobile revolution has created for businesses is hard to overstate. …