Maastricht university im session 4 31 managerial

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Maastricht University IM Session 4 3.1 MANAGERIAL CHALLENGES RELATING TO SENIOR MANAGEMENT MUTING THE HiPPOs HiPPO: highest-paid person’s opnion • one of most crucial aspect of big data is impact on how decisions are made companies often make most important decisions by relying on HiPPO • for big data decisions, firms need to start relying more on data, less on experience NEW ROLES • domain expertise remains critical but the role will shift experts will not be valuable because of HiPPO-style answers but because they know which questions to ask 3.2 FIVE MANAGEMENT CHALLENGES 1) LEADERSHIP • big data’s power still must have great leaders who can spot opportunity, understand market, think creatively etc while changing the way organisations make decisions 2) TALENT MANAGEMENT • as data becomes cheaper, the complements to data become more valuable most crucial: data scientists and other professionals skilled at working with large quantities of information + cleaning of large data sets + visualisation tools and techniques 3) TECHNOLOGY • tools available to handle the volume, velocity and variety of big data
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