Algorithms is the third Attribute in the SCALE acronym. In Chapter 3 of Exponential Organizations you can read more about this and I suggest taking a look at the open source tool developed by the ExO Ecosystem.
The Wikipedia Article on Algorithms describes the following: An algorithm is an unambiguous specification of how to solve a class of problems. Algorithms can perform calculation, data processing and automated reasoning tasks. Essentially Algorithms are a way for an organisation to take data and turn it into valuable information. This process is now being augmented even further with machine learning and deep learning which is essentially giving algorithms the power to improve themselves.
The wonderful thing about algorithms is that they take the data and make interpretations without any of the human bias and therefore have a great deal of power in improving efficiencies. remember that when starting out your algorithm may be in the form of a spreadsheet, but for maximum efficiency you want to automate as much as possible to avoid bias and error.
If you want to implement algorithms in your organisation you need to follow the following four steps:
- Gather Data: This can be from data sets, sensors, etc.
- Organise Data into a usable form. Often referred to as Extract, Transform and Load
- Apply the algorithm. There are online and open source tools to do this. Hadoop, Pivotal, DeepMind, Vicarious, SkyMind, etc.
- Expose the data: This is giving your data to potential partners to increase its usefulness.
If you want to run a truly exponential and scalable business then algorithms are another attribute that are pretty much a requirement to leverage sensors and devices, lower errors and provide an easy to upgrade system. Take some time to look at your organisation and the data that is produced or is available and how this data could be turned into valuable information and then make that happen.
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