The ‘North Star’ of Digital Transformation is a ‘Data First’ Strategy: HPE CEO
The “North Star” of digital transformation, according to Antonio Neri, president and CEO of Hewlett Packard Enterprise, is a “data first” strategy. Neri examines the need of aligning strategic, organizational, and technological decisions with the overarching goal of exploiting data as a strategic asset in a piece he wrote for the World Economic Forum Annual Conference. He references research showing that the average company had a data maturity score (the capacity to produce value from data) of only 2.6 out of 5. This suggests a lack of fundamental capacities for doing so, which in turn hinders firms’ capacity to create crucial results including increasing sales, innovating, expanding customer experience, increasing environmental sustainability, and raising humanitarian standards across their supply chains. Neri’s answer is to bridge this divide by achieving a high level of data maturity and strengthening control over that data leading to a new “digital divide” where companies who take a data first approach have a strong lead against competitors who are disconnected with the power of their data With the ability to access, control, protect, govern, and unlock the value of data regardless of where it is generated or housed, he predicts that enterprises will emerge as data platforms in their own right. Neri advocates for decentralized, scalable data architectures that facilitate cross-organizational and cross-national sharing of data and analytics without compromising on privacy or control. To unlock the value from an organization’s data, Neri recommends several actions to start: defining a data strategy with clear objectives aligned with the organization’s overall goals, assigning strategic investments to data initiatives, appointing a senior-level data officer with accountability for the data strategy, creating an effective architecture to manage data end-to-end securely, and establishing the skills to master advanced analytics methodologies. Source: weforum
Forget digital transformation: data transformation is what you need
The founder of Eggcelerate, Stefano Maifreni, discusses why it is important for business organizations to focus on data transformation to maximize long-term value. He defines digital transformation as using new technologies to restructure an organization and its processes to improve efficiency and meet customer needs. Digital transformation initiatives can involve IT modernization, process automation, cloud technology, artificial intelligence and machine learning, and transforming communication with customers. Data is the cornerstone of any successful digital transformation strategy, and it is important to understand how your organization uses data to optimize data usage and apply analytics and insights to drive better business outcomes. Without a data strategy in place, your organization will likely struggle with leveraging data for digital transformation efforts. Digital transformation is vital for businesses to restructure their processes to meet customer needs and improve efficiency. To leverage data for digital transformation efforts, organizations must understand their data sources and determine which data sources they need and where they can find them. They must also consider how to best process, analyze, and transform their data to maximize its value. Finally, they must identify which data transformation initiatives will impact their organization most and ensure they have the necessary resources and budget to make these efforts a reality. Data transformation is an entirely new way of doing things that requires organizations to come up with innovative methods for gathering data and turning unusable data sources into something valuable. Source: information-age 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow