Some of the best companies today are leveraging data to spearhead their competitive advantage. Data-driven organizations have been proven to outperform competitors and demonstrate greater profitability. Data is a driving force behind innovation and acts as a point of disruption for the market.
At its core, becoming a data-driven organization means making data and analytics an integral part of your business starting from your strategy and continuing through to delivery. It is a ‘total immersion’ approach to data use: freeing data from silos, making it as available as possible to key teams, and supporting automated, low-latency yet secure analysis to inform business decisions and improve processes in real time.
Becoming data-driven is equivalent to investing in your digital landscape. In fact, big data and AI-powered analytics often go hand in hand with investment in cloud infrastructure, as businesses re-engineer their systems to drive innovation.
A data-driven organization is focused on making better business decisions. This ultimately leads to higher customer satisfaction and greater value generation.
We recently hosted a webinar where 63% of participants said that the biggest challenge to data transformation was their organizational structure and strategy. Meanwhile, 50% said that embedding the right skillsets in their organization was a challenge. Becoming an organization centered on data requires technology support, but to truly incorporate it into the organization’s culture and strategy, you need to approach it as a change management project.