If you are like most businesses today, you are dealing with more data than you ever imagined possible. And what’s more is that there is a wealth of insights inside of your data. But how can you access those insights when it’s a challenge even getting your data ready to analyse?
“Your business needs a solid information strategy, technologies to speed business change and tools to analyse and measure success”, according to Tony Bell, CSO, Decision Inc.
Speaking at an analytics event hosted by Decision Inc. Immix for business heads, CIOs and industry representatives, Tony Bell reiterated what every CEO and CIO should already acknowledge: lasting digital transformation is only possible with the commitment and investment from the top levels of your organisation.
This kind of investment is the only way to move your business forward on its digital journey in today’s technology-driven information economy, to make sense of the growing data and customer demands, and to add value through differentiation in a competitive landscape.
Now more than ever, senior management, CEOs and CIOs have to plan, execute and measure a data-driven strategy, drive insight into every action, and synergise people, culture, and technology to make decisions faster and drive real results.
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If your organisation is not there yet, get your executive team on board and position your business for this transformation by implementing the following suggestions:
- Build and execute a world-class, disruptive data and analytics strategy
- Lead by enabling the right culture, people, skills, and organisation
- Drive innovation through leading technologies: AI, BI, machine learning, blockchain, Virtual/Augmented Reality, IoT
- Develop a foundation of business trust through data quality, governance, advanced security and privacy protocols
- Exploit diverse datasets, diverse teams, and diverse thinking to innovate business models
- Make analytics and insights part of the DNA for every person, action, business process and decision of your business – drive insight into every action
- Make faster business decisions and accelerate performance through the right mix of strategy, people skills, technology, and innovation
The enterprise of the future needs the ability to turn complex data into insights and actions, using business intelligence solutions that scale across businesses, deriving value-add from data analytics.
The above should be the top priorities of modern management today to enable future growth. Your business can and should get ready to embrace digital transformation – otherwise, thread at your own peril and prepare to be outrun by competition.