Enterprises with Data-Driven Mindsets Adapt Better to the Digital Economy
Updated: May 30, 2019
According to Constellation Research, a little more than half of traditional Fortune 500 companies have disappeared due to the lack of or slow to move to digital transformation. Digital innovation now transcends the I.T. office. More non-tech leaders are looking for strategic ways to modernise their enterprises to adapt in today’s digital era. A data-driven organizational mindset is a start.
Cloud Storage, Big Data, the Internet of Things (IoT)
And other digital economy innovations can provide significant opportunities for data-driven enterprises to tap and harness.
For example: collection of consumer behaviour data can be used by AI applications and ML technologies to predict customer needs. Data Scientists can also maximise these opportunities even further by turning this information-rich data collection into insights for transformative business strategies.
In addition, data analysis is the first step in helping to reduce costs, increase productivity, and improve the business’ bottom line. Further, customer-centric companies often consider global outsourcing and the resultant implementation of 24/7 support as a key competitive advantage; as customer enquiries and concerns can be addressed faster and sooner than the competition.
Besides data collection and analysis, alignment across cross-functional teams is imperative. Data-driven enterprises appreciate that team members must be on the same page before actionable insights can engage and be broadly implemented. Savvy security conscious enterprises enact measures so that there is always a sharing of information from secure and reliable data sources.
These data-driven enterprises do not take the benefits of data accessibility for granted and see real-time information as a valuable asset. An asset that if used collaboratively can be one of the pillars for effective work culture and business success.
Information and data are, of course, susceptible to data breaches. Data-driven enterprises take these cybersecurity threats very seriously. They know how to balance their data science practices with data security measures. They invest in data security expertise and build smarter I.T. ecosystems around and for data. As a result, they continue to adapt and transform their business and work culture, make better data-informed customer centric decisions, and keep pace with the highly dynamic, evolving digital landscape.
Today, with so many data based considerations and opportunities, many enterprises struggle to develop a clear implementation plan. A plan that takes advantage of the data that is collected and transforms this into tangible business benefit that drives today’s leading Fortune 500 data driven companies. This process requires a roadmap developed by experts who are privy to technology insights and can confidently recommend actionable I.T. solutions.
Fusion Professionals can develop a roadmap to optimise your I.T. ecosystem for efficient data collection, analysis and customer insight. Contact us to learn how we can help your enterprise make data-driven business decisions