One of the fundamental elements of the Fourth Industrial Revolution is Data. It has descended upon us like a hurricane that
changes the landscape, it passes through. The much-touted maxim ‘Data is the New Oil’ has caught on, not because it sounds fancy but it summarizes every organization’s dream – to have control over forecasting demand, optimizing supply, and more importantly, to stay in the limelight before the competition does.
While no amount of Big Data can act as a crystal ball to accurately predict the future, it can certainly help as a magnifying glass that
can help read the lines in our palms. Having organized data is preparation, processing it meaningfully is progress, but leveraging it to
guide decisions is priceless.
Even today, the aggressive analysis continues to haunt organizations, thus, slowing down their decision-making process at every step from whiteboard to go-to-market. The reasons for this can be attributed to barriers in information flow that are crucial for managerial decision making. But surprisingly, the data was available, but never processed in a way to distill needle-moving insights.
‘How can organizations break the barriers to refine information from packets of data siloed within various divisions of an
organization?’ is the broadest consistent goal for every CXO