Within the last several years, the marketplace has shifted from industrial-produced to data-based. Consequently, many companies have a strong drive to become data-driven, from financial firms to nonprofits. Yet, when C-suite managers and others discuss making money from data, they see the face of data analytics and Data Science. These conversations miss the Data Architecture and Data Management fundamentals […]
Strategies for Tackling Digital Transformation Resistance
The often-overused phrase “digital transformation” instills a sense of excitement and progress for many executives. But for some business leaders, digital transformation means intimidation or mystery. When the former group is tasked with selling data-driven technology initiatives to the latter group, they face formidable challenges. They must win hearts and minds to get buy-in, sometimes faced with […]
Strong AI/ML Must Be Founded on a Strong Data Strategy
The list of use cases powered by artificial intelligence (AI) and machine learning (ML) technologies is growing exponentially across nearly every business sector. Enterprises of all kinds are leveraging these advanced capabilities and scaling them through automation to improve business process management, sharpen organizational strategies, and reap more analytical and predictive insights from data for […]
A Data-Driven Organization Requires Everyone’s Hands on the Wheel
Companies are driving ahead with data transformation. But so far, the results are mixed: Few companies have achieved their goal of becoming a data-driven organization. So, where are they going off track? First, it’s important to define what it means to be data-driven. Data-driven organizations not only collect data, they collect the right data and use it […]
Unlocking Success with Digital Transformation: A Strategic Roadmap for the Board
Digital transformation presents organizations with immense opportunities, but seizing them requires a strategic approach and careful selection of appropriate technologies. A recent study conducted by Deloitte that examined financial disclosures from over 4,000 global organizations, spanning a decade, revealed that “the right combination of digital transformation actions can unlock as much as $1.25 trillion in additional market […]
What Is Data Strategy and Why Do You Need It?
With the increasing amount of data available, businesses need to have a clear, enterprise-wide plan on how to collect, analyze, and use data to make informed decisions. A well-laid-out plan or “Data Strategy” can help businesses identify gaps and take corrective actions to improve operations, enhance customer experience, and drive growth. A strong Data Strategy can also […]
Developing a Data Strategy Template
Organizations want a solid and usable Data Strategy template – a well-thought-out plan for a set of decisions that form a pattern, charting a high-level course of action – but face challenges. For example, only 30% of companies have impactful data strategies that align with some operations, resulting in wasted investments in improving analytics and business insights. Instead, most […]
What Technologies Should I Include in My Digital Transformation Strategy?
If your enterprise is about to undertake a digital transformation (Dx) project, you should understand that these initiatives require a focus on more than the technology itself. To succeed with a digital transformation strategy, the business must focus on business processes, day-to-day activities and tasks, and the culture within the organization, so that the environment […]
Why Good Data Management Matters Now More Than Ever
In the early days of business analysis and underwriting, data was managed with simply a pen and paper and, of course, Excel spreadsheets. As technology has advanced, databases, warehouses, and data lakes have enabled information to be collected, stored, and managed electronically. But as businesses have rapidly increased the volume, velocity, and variety of data […]
Data Strategy Best Practices
Data Strategy, the master plan or blueprint for confronting day-to-day business challenges and meeting pre-defined business goals using data, has gained significant traction. More companies are seeing the connection between following Data Strategy best practices and boosting profit. Gartner estimates that 50% of financial planning and analytics leaders will take charge of developing and refining their Data Strategy. Moreover, […]