The new reality for data and analytics leaders is the evolution of terminology, such as machine learning, and methodologies such as predictive modeling, to reflect these changing roles. “Until recently, organizations have thought of 'data' as a lower order for of ‘information’. However boards of directors, CEOs and senior executive have thankfully started to change such thinking,” Mr. Bugajski said. “Increasingly IT and business leaders now talk of ‘data’ and ‘data management’, rather than ‘information’ and ‘information management’ while referring to ‘analytics’, rather than ‘business intelligence’." These gradual changes in terminology, roles and titles, along with the emergence of bimodal IT capabilities and other developments, provide an insight into the breadth and depth of organizational change that will be associated with the transformation to data-driven digital business.
The breadth and depth of the challenge calls for leaders who can operate as master change agents.
New and advanced analytics technologies are on the rise, such as predictive and prescriptive analytics, decision management software, smart machines, event stream processing applications and operational intelligence platforms. As a result, the demand for analytics has moved outside specialty IT-based communities and is now being headed up largely by individual business units.
“It’s time for organizations to recognize the need for a new cadre of leaders, data scientists, architects and engineers, together with new and organizational designs and modernized applications/infrastructure,” said Mr. Bugajski. “The breadth and depth of the challenge calls for leaders who can operate as master change agents. They will need to drive the creation of a cohesive set of business-relevant capabilities across all channels, sources and uses of information in order to maximize information investments and leverage the new economics of information.”