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Future Knowledge Management
The evolution of Knowledge Management in organizations
Curated by Karen du Toit
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Rescooped by Karen du Toit from Strategy and Competitive Intelligence by Bonnie Hohhof
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Algorithms Make Better Predictions — Except When They Don’t, by by Thomas C. Redman

Algorithms Make Better Predictions — Except When They Don’t, by by Thomas C. Redman | Future Knowledge Management | Scoop.it

"Predictive analytics is proving itself both powerful and perilous. Powerful, because advanced algorithms can take a near-unlimited number of factors into account, provide deep insights into variation, and scale to meet the needs of even the largest company. Perilous, because bad data and hidden false assumptions can seriously mislead. Further, algorithms cannot (yet, anyway) tap intuition — the soft factors that are not data inputs, the tacit knowledge that experienced managers deploy every day, nor the creative genius of innovators.

 

So what should managers, especially leaders, do? The obvious answer is employ both computer-based programs and your own intuition. In this post, I’ll use a series of simple plots to explain how to tap the potential of predictive analytics, sidestep the perils, and bring both the data and your good judgment to bear."


Via Bonnie Hohhof
Karen du Toit's insight:

Algorithms and predictive analytics - the importance of intuition!

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How to Analyze Competitive Intelligence Information - For Dummies

How to Analyze Competitive Intelligence Information - For Dummies | Future Knowledge Management | Scoop.it
By James D. Underwood from Competitive Intelligence For Dummies

"In the world of competitive intelligence, analysis transforms raw information into knowledge and insight, shedding light on future action your organization must take in order to capitalize on opportunities and avoid potential threats and costly mistakes. No single method is best for conducting analysis. You need to master several strategies and techniques to fully exploit the value of the intelligence information you’ve gathered, including the following..."


Via Ellen Naylor, No Boxes
Karen du Toit's insight:

Good synopsis!

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Twitter Analytics is now free for all: so what can libraries get out of it? - Ned Potter

Twitter Analytics is now free for all: so what can libraries get out of it? - Ned Potter | Future Knowledge Management | Scoop.it

Twitter stats packages are sort of fascinating but also not. I look at a fair few because I need to be able to talk about them in social media workshops: what tends to happen is I put my username in, go 'ooooh that's interesting!' a few times, but then never actually go back and check the analysis on a second occasion.

As individuals we don't really need Twitter stats apps (unless you take Twitter very seriously) but as organisations they can be genuinely useful. They can help us understand our network, show us what works (so we can build on it) and what doesn't (so we can phase it out).

For an analysis package to be useful to an organisation it really needs three qualities:

1. It must give you information you can ACT on. There are a million
stats apps out there, but if they don't tell you anything which you
can use to inform better practice for your twitter account, then they
don't really have any value.
2. It must NOT tweet things about that information on your behalf. Someapps tell you useful things - but they tell the rest of the world
those useful things too. I'm dubious about this at the best of times
(for me an auto-tweet saying "This week on Twitter: X follows /
unfollows, Y ReTweets and Z total reach!" either looks a bit awkward if X, Y and Z are small numbers, and a bit show-boaty if they're large) but I really don't think organisational accounts should have anything tweeted on their behalf.
3. It ideally needs to be free. Some things are worth paying for but
realistically it's hard to get the people who control the
purse-strings in libraries to shell-out for a Twitter stats annual
subscription...

Thankfully the official Twitter Analytics, newly available for all, meets all three of those criteria. If you just tweet as yourself, sign in to analytics.twitter.com and have a look a round at the things worth noting; it's interesting to see how few of your followers actually see your tweets, for example."


Karen du Toit's insight:

Great guide! Also for any corporate account!

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Karen du Toit's curator insight, September 4, 2014 3:47 AM

Great guide to make the most of your Twitter Analytics for your library or archive!