Harvard Business Review out with a great piece on Fortune 500 Co’s who are both committed to using data for enhanced purposes and finding it difficult to implement change.
Randy Bean writes: “Findings suggest even with record levels of committed investment, firms are continuing to struggle to derive value from their Big Data & AI investments and to become data-driven organizations. Often saddled with legacy data environments, business processes, skill sets, and traditional cultures reluctant to change, mainstream companies appear to be confronting greater challenges as demands increase, data volumes grow, and companies seek to mature their data capabilities. What’s at the root of this slow progress? For the 5th consecutive year, executives report cultural challenges — not technological ones.”
(Please read the Innovators Dilemna by Clay Christensen)
The author points out a path forward: “Companies must reexamine the ways they think about data as a business asset of their organizations. Data flows like a river through any organization. It must be managed from capture and production through its consumption and utilization at many points along the way.”
Commuting trust around data inside an organization is hard, but it is essential in a market if you want assets to trade…let Inveniam show you how.