Artificial intelligence (AI) has provided a critical competitive advantage for those organizations able and willing to use it. AI has gained significant momentum in the last few years, acting as personal assistants for some, while processing business transactions and providing technical services to others. AI systems have the ability to manage large amounts of data […]
Data Literacy Leads to Success
The Data Literacy Project says that workforce data literacy has proven to have a positive correlation with corporate performance. Improved corporate data literacy positively impacts gross margin, return-on-assets, return-on-equity, and return-on-sales, resulting in $320 to $534 million in higher enterprise value over organizations with lower data literacy, according to the Data Literacy Index. The study […]
Socializing Data Governance: Utilizing a Common Data Matrix
“Data Governance is like Lord of the Rings. You are on a journey to cast obfuscation and bad decisions into the fires of Mount Doom. To succeed in this quest, you will need a fellowship of data” said Mark Horseman, Data Enthusiast at the Northern Alberta Institute of Technology (NAIT), in his presentation titled Socializing […]
Case Study: Building a Business Intelligence Team with Confidence and Transparency
Meeting the company’s goals is the responsibility of everyone in the organization, so even those who aren’t directly influencing the cost or the revenue side should know what those goals are. “No matter who you are, you are directly or indirectly affecting key company metrics,” said Vanessa Lam, Business Intelligence Manager for Optoro. Lam shared […]
The Importance of Data Literacy
Walk into a company embracing digital transformation and you’ll find monitors displaying colorful charts and pie graphs decorated with numbers. These dashboards show information about the business meant to assist employees in prioritizing work, seeing new opportunities, and driving efficiency. An important question remains, though: “How many employees trained on a business’ dashboards know how […]
The Data-Information-Knowledge Cycle
Data Management is a very lexically challenged discipline. A major part of that lexical challenge is the terms “data,” “information,” and “knowledge.” These three terms are often misused, abused, and used interchangeably to the point that their real meaning is often unclear. These three terms must be formally defined – in order to create a […]