Data is everywhere in Business
Teams that are adopting data-driven cultures are making huge strides as artificial intelligence.
Tools and strategies for data-based decision making can be applied in so many different ways: for maximizing operational efficiencies, as a team engagement tool or to help build more effective customer acquisition campaigns.
While many are adamant that people need to change the way they work in order for organizations to undergo “digital transformation,” Orad believes that tech needs to be more accessible to non-techies. “The idea is to ensure that the technology meets the needs of generalists; people shouldn’t adapt the way that they operate to accommodate machines,” he told me. “Machines should adapt the way they operate to accommodate humans.”
To overcome these challenges, the instinct can be to restaff, replacing your current marketing or sales team with data experts who fully understand BI, AI and their implications. But this approach can, Orad suggests, lead to serious problems for your business. “Technical brains lack the business acumen or the people skills to actually interact with the business,” he explained. “If you’re looking to scale your AI-driven business by just picking up those with a lot of technical skill, you will end up with pockets of talent in the organization that are not well connected and don’t interact well with the rest of the organization."
The first thing to realize is that there is a limit to how much data a company can actually process, analyze and act upon. We may have already passed that point of peak data; Forrester Research estimates that as much as 60-73% of data collected is never successfully used for any strategic purpose.
As AI and BI explode into prominence, it’s easy to be overwhelmed and start to feel like your data is calling the shots. It takes strong leadership to recognize that data is the tool, not the master. We all need data to work for us in better, more evolved ways.
Read the full article here