Key steps to building a data-driven company of the future
Turning the abstract value of data into something tangible means empowerment can no longer reside strictly with the people who use data most. The hallmarks of a truly data-centric environment means anyone encountering data—of all skill levels and data fluency—can turn insights into the next opportunity and innovation. A true analytics culture is based on “more than a stack of technologies, or a few people,” explained a recent Harvard Business Review article. Instead, “data and analytics should be the pulse of the organization, incorporated into all key decisions.” To achieve this, a company needs to harness these defining elements: establish a foundation of data governance and trust; make data the core competency; foster data adoption with data literacy; and make data accessible for all.
Making data available to everyone is the ethos that will shape the innovative companies of tomorrow.
It’s projected that the modern data world will encounter 163 zettabytes of data. All of this data holds your next potential business opportunity. Some organizations will wane in the presence of this growth; but most will find ways to empower their workforce to turn data into insights. When every knowledge worker grows more proficient (and equipped) with data, they can bring unique perspectives based on individual strengths. The result is a data-driven company that is on the forefront of change instead of lagging behind.