New opportunities related to #data …
Companies use more and more data for a wide scope of applications:
facilitate operations, #connect with #customer, monitor business performance, extract knowledge and insights, predict likelihood of events, make operational and #strategic#decisions …
To do so, some of them created a new #culture of data which is essential to derive benefits.
10% top performers …
A recent IDC survey points out that only 10% of the organizations with highest level of data maturity leverage their data culture to deliver higher performance.
Data culture stands for the ability of the Company to plan and execute critical data operations such as data planning and alignment with business needs, data cataloging, data quality, data governance, data protection, data analytics and data driven decision making.
Lot of Companies struggling …
Meanwhile ⅔ of Companies do not have a clear data culture, they have challenges identifying and mastering key data sources. They may be good at storing data, but certainly have little experience at accessing and leveraging the data to drive incremental business results.
The situation is even more complex in fast changing contexts requiring instant access to large volumes of fresh data.
Few benefits from data without data culture …
So, what is the big difference between top performers and Companies experiencing difficulties to leverage data? Today there are four essential reasons :
Top performers align data needs and data strategy on business needs before any technical move
Top performers develop, proliferate and maintain a data culture within the Company
Top performers align technology moves on the business and cultural needs
Last but not least, top performers set up business priorities and keep a strong focus on moves with highest value for the business, with the right mix of operational and strategic priorities.
Tomorrow, I believe that top performers will significantly reduce the amount of data they handle, decrease the processing and carbon footprint by a factor of 5 to 10. To do so, they will give up a significant part of the data they store and process and focus their attention on “base contract data”.
While they reduce the volume, they will be more likely to address faster a larger number critical business needs and will create sustainable data driven advantage.
Definition
Data culture is an organizational culture of data-driven decision making. Organizations build a data culture because they want to make better decisions.
