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Aura examination: why businesses must use their digital intelligence: the authors of code halos on how firms can extract the maximum value from the online data at their disposal.

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Vincent
PositionMUST READ - Book review

Think for a moment about the technology in your home--PCs, laptops, tablets, smartphones, gaming consoles and so on. Over time, every click, swipe, search, "like", comment and purchase creates a unique pattern of accumulated data that becomes your virtual identity. This is your personal "code halo".

A similar pattern is playing out in the business world: any organisation can now have a code halo. Far beyond big data, the ability to manage information in order to enhance customer relationships and business processes is changing how value is created. There is no single right way to achieve this, but our book provides tactical recommendations on how companies can start extracting value from the invisible. These include:

* Recognise the value of "signal". Decision-makers from 300 firms told us that they had achieved a total benefit of about $766bn over the preceding year from their application of business analytics. Those that had generated the most value using such techniques were expecting to increase their revenues faster and cut their costs more aggressively than the rest of the respondents were.

* Deliver beautiful products and experiences. Design is often an afterthought in most organisations. This is misguided and it needs to change...

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