At the SAP UK Journey to the Top event this week, I presented a keynote on “How Data is Powering The Future of Business: Trends and Opportunities.”
After struggling to find some way to talk about data that hasn’t already been covered a thousand times over the last few decades, I ended up focusing on real-world examples of organizations that have used data to innovate the way they do business.
All these wonderful business examples depend on one thing: having a solid information foundation. With the right framework in place, for example, organizations can easily and quickly automate the kinds of complex repetitive decisions that make up a huge proportion of today’s business process.
Ultimately, the ROI of data is skyrocketing, because new technologies such as machine learning are allowing us to extract more value from data than ever before, and it’s easier and cheaper than ever to collect, store, and analyze.
But to unleash that value, organizations have to go back to the basics: the unglamorous job of collecting the right data, working collaboratively across silos to fix data quality problems, and making sure it gets to the right people at the right time—and that’s still as hard as it has ever been!
The best time to put in place a robust information architecture was just before the recent boom in artificial intelligence that is letting organizations quickly take advantage of new opportunities and differentiate from their customers. The second-best time is NOW! 🙂
A video of the presentation: