Business Metrics

Data Is Getting Its Overdue Attention

Every business agrees that it should be data-driven. Many businesses claim to be data-driven. Only some businesses are making a genuine investment into data programs. Yet in an article for InformationWeek, Anne Buff writes that she thinks businesses are finally starting to come around to the idea in earnest. She discusses a few reasons why data is finally getting its due.

Data in the Spotlight

One obvious reason is the plethora of data breach horror stories. No business wants to be the next to be in the headlines about something going horribly wrong and having to deal with the PR fallout. Plus, consumers are just more suspicious and concerned about the ways their data is handled these days.  It helps business to be able to present a clear strategy for the ways customer data will and will not be used.

Another reason for waking up to data is that digital transformation and general modernization efforts are greatly enhanced by more and better data. So at some point, accumulating and fixating on better data just becomes a given. Ultimately, good data leads to innovation:

Don’t stifle [executive] excitement[;] capitalize on it. They don’t know what they don’t know about data. (Bless their hearts.) But, there is something to the value of the magazine article. It isn’t a roadmap or an architecture diagram. It is a story to which they can relate. They understood it. They connected with it. And they got excited about it. When it comes to innovation that’s exactly what you need to do. Don’t focus on the data part (yet). Engage them in the story, the possibilities and the excitement. Let them sense the impact. Then ease them to understanding that data makes it happen. Everyone listens to a good story. We should. We’ve been doing it since childhood.

For additional thoughts, you can view the original article here: https://www.informationweek.com/big-data/big-data-analytics/overdue-notice-data-gets-the-attention-it-has-long-deserved/a/d-id/1331073

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