Build a data-driven organization

 

Today we see an increasingly larger number of businesses adopting data and data analytics in their operations. And yet data it seems to play a supportive role in business initiatives while its potential is far more. This needs to change.

 

However, to build a data-driven enterprise, data and analytics (D&A) leaders must engage and train their entire organization to become data literate.

 

D&A leaders, especially chief data officers, have to lead this change from the front. Here are a few key steps that they can take to make their organization a data-driven enterprise.

Spark ambition

Most businesses are eager to incorporate a digital transformation into their operations. However, a digital business cannot exist without data and analytics. If an organization realizes it is struggling with digital transformation, perhaps it hasn’t given enough thought to data and the potential for valuable insights.

 

Without articulating data and analytics dependencies, several, if not all, digital business priorities will remain aspirational. Organizations must check whether data-driven opportunities cross organizational boundaries and thus require operating model changes to achieve the intended outcomes.

Align responsibilities

For many enterprises, their data-driven ambition also means bringing about a change in the nature of their business and the nature of work related to data and analytics. Unless the change is driven by an executive focused on making it happen, this shift might not occur. Business leaders have to remember that data and analytics need to be woven into everything.

 

If an organization does not currently have this executive role, it must push for its creation to encourage data literacy among the workforce and to establish a data-driven culture in the company.

Close all competency gaps

A data-driven enterprise must realize that there are several competencies that are practiced to some degree by all parts of the enterprise. A modern D&A organization is one that enables both centralized and decentralized work while also creating a center of gravity for critical competencies. This ensures consistency of practices and collaborative insight creation. For an organization to become truly data-driven, it requires the participation of all teams sport and should aim for collaboration, as well as effective and ongoing training programs.

 

By 2020, it is predicted that 80% of organizations will initiate deliberate competency development in the field of data literacy, acknowledging their extreme deficiency.

 

To understand how your organization can become a date-driven enterprise of tomorrow, please join us at the Gartner Data & Analytics Summit 2019, 10 - 11 June, Mumbai.

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