The Essential Shift for Creating a Data-Driven Enterprise
Data volumes continue to explode and its value is clear in nearly every process. Unfortunately, established practices for generating value from data have failed to keep up with these evolving needs.
Despite massive investments in data warehouse programs, many business users have been forced to take matters into their own hands using home grown systems or excel spreadsheets to support decision making.
The resulting tug of war between central models and decision making on the edge has led to a host of challenges recognized by analytic leaders and their front-line colleagues alike.
They identified top challenges as:
- Data Quality (55% of respondents)
- No Reuse of Business Analysis: (47% of respondents)
- Lack of Governance for Analysis: (71% of respondents)
- Inconsistent Results: (40% of respondents)
As a result of these challenges, data driven companies are adopting a new set of practices. Based on extensive customer interviews we have identified five key principles common to these successful organizations:
- Focus on driving outcomes over pre-defined output
- Empower business teams to create analysis
- Establish practices to manage data as a product
- Promote collaboration between front line analyst and central data teams
- Carefully curate the best analysis into consistent and reusable standards
We are calling this new approach “Collaborative Intelligence.” This white paper lays out these principles in a complete framework. The paper explores each of the five principles, their origin and the steps which organizations are taking in their adoption.