The list of use cases powered by artificial intelligence (AI) and machine learning (ML) technologies is growing exponentially across nearly every business sector. Enterprises of all kinds are leveraging these advanced capabilities and scaling them through automation to improve business process management, sharpen organizational strategies, and reap more analytical and predictive insights from data for […]
How Data Governance and Data Literacy Overlap
In today’s tech-driven world, with 120 zettabytes generated annually, most of us already use data – and lots of it. “Everyone who reads a paper or scrolls through the Internet is already acquainted with data,” said Wendy Lynch, founder of analytic-translator.com and Lynch Consulting, in a recent Elevating Enterprise Data Literacy webinar. “We depend on data, compare data, react to data, […]
Unlocking Success with Digital Transformation: A Strategic Roadmap for the Board
Digital transformation presents organizations with immense opportunities, but seizing them requires a strategic approach and careful selection of appropriate technologies. A recent study conducted by Deloitte that examined financial disclosures from over 4,000 global organizations, spanning a decade, revealed that “the right combination of digital transformation actions can unlock as much as $1.25 trillion in additional market […]
What Is Data Strategy and Why Do You Need It?
With the increasing amount of data available, businesses need to have a clear, enterprise-wide plan on how to collect, analyze, and use data to make informed decisions. A well-laid-out plan or “Data Strategy” can help businesses identify gaps and take corrective actions to improve operations, enhance customer experience, and drive growth. A strong Data Strategy can also […]
Developing a Data Strategy Template
Organizations want a solid and usable Data Strategy template – a well-thought-out plan for a set of decisions that form a pattern, charting a high-level course of action – but face challenges. For example, only 30% of companies have impactful data strategies that align with some operations, resulting in wasted investments in improving analytics and business insights. Instead, most […]
How Organizations Can Create Successful Process Automation Strategies
Process automation continues to gain momentum across industries. The 2023 State of Process Orchestration report found that 96% of IT decision-makers consider it critical to their digital transformation goals, and in a 2022 Gartner survey, 80% of executives believed that automation can be applied to any business decision. Still, not all automation projects proceed as planned. The same […]
Why Good Data Management Matters Now More Than Ever
In the early days of business analysis and underwriting, data was managed with simply a pen and paper and, of course, Excel spreadsheets. As technology has advanced, databases, warehouses, and data lakes have enabled information to be collected, stored, and managed electronically. But as businesses have rapidly increased the volume, velocity, and variety of data […]
Data Strategy Best Practices
Data Strategy, the master plan or blueprint for confronting day-to-day business challenges and meeting pre-defined business goals using data, has gained significant traction. More companies are seeing the connection between following Data Strategy best practices and boosting profit. Gartner estimates that 50% of financial planning and analytics leaders will take charge of developing and refining their Data Strategy. Moreover, […]
Forget Data Literacy – Think Decision-Making Literacy
Making decisions is essential to our life. We make decisions every day, several times a day. Sometimes, these decisions are small, like what we will wear today or what we will eat for breakfast. Other times, the decision might be bigger, such as what job to take or whether to move to a new city. […]
Data Strategy Prerogatives That CIOs Need in 2023
Without data, businesses wouldn’t have much to work with when making informed decisions. Data by itself, though, isn’t enough for business leaders to rely on when they’re driving growth; a gigantic collection of data isn’t worth nearly as much as a data strategy defining how you use and manage your data. Without a solid data […]