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Forget about “leveraging” it. Most organizations have a tough time keeping track of their data at all.
Many feel like they have been trying to solve the same data problems they were solving ten years ago. Data is often unwieldy, piling up across organizational silos and individual spreadmarts, or constantly shoving off into islands of data that have difficulty communicating with one another. This keeps organizations in a tiresome cycle of Data Wrangling.
How then can organizations become Data-Driven, let alone come up for air?
Myths abound. The “shiny object syndrome” leads organizations to believe that a single piece of technology can solve all their problems. But this neglects the more foundational and thorny issues such as changes to business processes and even more daunting, shifting the culture towards a data-focused operating model and business strategy. Many believe that increasing the data volume and applying analytical software tools makes an organization data-driven. Analytics only matter when they are successfully tied back to business KPIs, a vital, but often overlooked process.
With the right game plan, data can actually turn from headache to helpful. If organizations can maximize their levels of efficiency and insight and tie sustainable data management practices to their business strategy, they can change from competitor to dominant marketplace differentiator. This isn’t easy, but that’s why we’re here.