March 08, 2019
March 08, 2019
Contributor: Christy Pettey
Build your organizations data and analytics competency for digital transformation success.
Information as an asset is still in the “early adoption” phase, which makes it a competitive differentiator for leading organizations as they focus on digital transformation. In turn, data and analytics become strategic priorities.
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Data and analytics are the key accelerant of an organization’s digitization and transformation efforts. Yet today, fewer than 50% of documented corporate strategies mention data and analytics as fundamental components for delivering enterprise value.
Gartner predicts that this will change quickly. By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.
“A company’s ability to compete in the emerging digital economy will require faster-paced, forward-looking decisions,” says Douglas Laney, distinguished VP analyst at Gartner. “Data and analytics leaders need to assert themselves into corporate strategic planning to ensure that data and analytics competencies are incorporated within the highest-level public-facing enterprise plans.”
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Make data and analytics strategies a routine boardroom discussion topic. Leading organizations in every industry are wielding data and analytics as competitive weapons, operational accelerants and innovation catalysts.
Still, many companies continue to struggle under the weight of traditional business models and analog business process that discount the potential of data and analytics. Others recognize their potential but cannot make the cultural shift or commit to the information management and advanced analytics skills and technology investments necessary to realize that potential.
Download Now: How Leaders Can Evolve to Accelerate Digital Growth
As the role of the chief data officer (CDO) takes hold — gaining authority and influence on par with other executives — organizations will move away from merely using data as a resource and analytics as reporting and decision-making support tools. Data and analytics will become the centerpiece of enterprise strategy, focus and investment.
Laney offers recommendations aimed at building and elevating an organization’s data and analytics competency within the organization.
Read more: A Data & Analytics Leader’s Guide to Data Literacy
Join the world's most important gathering of data and analytics leaders along with Gartner experts and adapt to the changing role of data and analytics.
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