The evolution of technology and all things digital has dropped more information than ever about human needs, preferences, and day-to-day behaviors right into the laps of today’s businesses. That data creates a great opportunity to meet people’s needs and position companies for long-term success with data-driven decision-making. But that’s much easier said than done. For […]
Data Democratization on the Business Front Line
There has been a lot of press about the concept of data democratization and the resulting improvement in data literacy across the enterprise and yet, many businesses still see this democratization effort as restricted to middle managers or to the use of analytics within the four walls of the headquarters or regional offices of the […]
As Data Privacy Concerns Ramp Up, the Need for Governed Real-Time Data Has Never Been Greater
This year’s Privacy Awareness Week (May 2-8) may be over, but it served as a reminder to look beyond the usual access controls and think about how analytics could be used to support compliance. Data privacy is essential for any business, but it is especially important at a time when consumers are taking notice and new regulations are being deployed. […]
5 Simple Ways to Improve Data Literacy
Building and maintaining a data-driven business is the only way to ensure your long-term success in today’s increasingly digital commerce landscape. This involves more than hiring a team of IT professionals or buying the latest data analytics tools – it requires you to improve your employees’ Data Literacy skills as well. Data-driven organizations must capture […]
Why Data Storytelling Matters to Data Scientists
In an increasingly data-driven world, companies worldwide have transformed the way they operate. Much of this is thanks to their ability to access a volume of data that was not available in the past. However, more recently, organizations have realized that simply collecting data is not enough, with many struggling to master the language of data. […]
Innovative Ways to Use Data Visualization
Data is an integral aspect of every organization across all industries. However, presenting data is a crucial exercise that requires a lot of creativity to ensure that every team member can grasp the meaning of the content. Many people get confused about how to find valuable insights from a large volume of data in a spreadsheet. That’s […]
Data-Driven Innovation: How to Establish an Effective Metrics Framework
Innovation is big business. Whether it is R&D, talent, or physical infrastructure – see the numerous fancy “innovation centers” that are rolled out on a yearly basis – companies pour millions of dollars into their innovation efforts annually. But there is one key difference that separates innovation from every other department in an organization: metrics. […]
CDOs Harness Flood of External Data for Smarter Decision-Making
The first chief data officer (CDO) was appointed at Capital One in 2002. Although just 12% of Fortune 500 companies had a CDO a decade later, more than two-thirds of major companies employ CDOs now. Companies generate unfathomable amounts of information – one credible estimate compares the daily data output to 166,000 times the data contained in the Library of Congress. […]
5 Best Practices to Reap the Benefits of Data Democratization
In the digital age, the success, growth, and maximization of opportunities of an organization depend on insights gained from data. Analytics and business intelligence (ABI) tools enable organizations to drive greater meaning from their data to protect revenue streams, minimize risk, adapt to rapidly changing business environments, and better serve their customers. In many cases, […]
5 Ways Data Leaders Can Improve Data Reliability
Businesses today collect and store an astonishing amount of data. According to estimates from IDC, 163 zettabytes of data will have been created worldwide by 2025. However, this data is not always useful to business leaders until it is organized to be of higher quality and reliability. Despite its importance to effective data analysis, most business leaders […]