Becoming Data-Driven: Today’s Business Imperative
In Fail Fast, Learn Faster: Lessons in Data-Driven Leadership in an Age of Disruption, Big Data, and AI, Randy Bean guides traditional businesses on their “long-term journey” of digital transformation and what is required to achieve “data-driven leadership.”
Over the last few years, Bean and his team have surveyed their clients (large organisatons, “mostly ‘legacy’ companies” that “spend huge amounts of money on technology and data, and hire some very smart people to manage them annually), asking them about their experience with managing data and implementing AI projects. In the most recent survey, only 24% of the executives surveyed said that their organisation is data-driven and only 41.2% believed they were competing on data and analytics.
Asked “What is the principal challenge to your organisation becoming data-driven?” only 8% of the executives surveyed by NewVantage thought the problem was technology. The rest blamed “people” or “process” or “culture.” Human intelligence is the culprit, not artificial intelligence, the survey has consistently found.
Read the full article at Forbes here.