How COVID-19 is changing the approach to data driven insights
It’s here and it’s inevitable. It’s powered by technology and harnessed by people: Digital Transformation!
The pandemic has wrought disruption on how companies work and has accelerated the need to transition to a more digital economy.
“Focus on outcomes that make the difference and you will thrive!” Easier said than done!
In practice, over 50% of decision makers have little knowledge or interest in analytics. An equal percentage of key stakeholders also have different opinions on the direction of the analytics and the implementation of priorities and plans.
Why the use of data seems to create more controversy than contribution to success?
The response is because of the ownership of the analytics. In most companies the primary responsibility for data and analytics is not centralised and relies on the business unit heads.
It leads to challenges on what processes will likely profit from analytics and creates confusion in key processes of the company such as in communication, improved intelligence, data management and many more.
In order to transition smoothly to the digital age, it is key to:
Create a cross-functional Data Quality Committee sponsored by C-Level stakeholders
Define common assessment methods and tools to monitor and measure data quality
Data quality measurement to be consistent across the entire organisation
Setup OKRs for your Data and R&D/Innovation team
The market is full of emerging solutions and it’s probably a good strategy to keep monitoring what is happening in this sector.
The success of Digital Transformation relies on the Key Stakeholders to align to define a more systematic and organized approach to analytics and insight driven decisions across the entire organization.
For more information on how to successfully transition to digital, do not doubt in contacting us.
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