Explicit Measures Podcast

244: Companies are Failing to Be Data Driven

Aug 24, 2023

Companies struggling to be data-driven despite investing in big data and analytics. Lack of data culture and treating data as a business asset are major obstacles. People and process issues are main challenges to successful adoption of Big Data/AI initiatives.

55:37

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Quick takeaways

Organizational alignment, cultural resistance, and lack of data understanding are the key challenges in implementing a data-driven culture.

Data quality and automation are crucial for a data-driven organization, contributing to a strong data-driven culture.

Meaningful business value can only be derived from data when organizations address the human side through processes, communication, and training.

Deep dives

Companies struggling to become data-driven

Many companies are finding it difficult to adopt a data-driven culture, according to a survey. The initiative of becoming data-driven is proving to be a challenge and organizations are struggling to live up to their ambitions. Lack of organizational alignment and cultural resistance are identified as major obstacles. Technology is not the main issue, as only 7% of survey participants cite it as a problem.

Introduction

2min

Building a Data-Driven Culture

36min

The Importance of Data Quality and Integration in Being Data-Driven

2min

Driving Data Transformation Through Key Projects and Initiatives

3min

Effective Time Management and Setting Expectations

10min

Collaboration and Investment in Becoming Data Driven

2min

Mike, Seth, & Tommy delve into the alarming findings of NewVantage Partners' 2019 Big Data and AI Executive Survey, which revealed that companies are failing in their efforts to become data-driven despite investing heavily in big data and analytics. They discuss the main obstacles faced by firms, such as a lack of data culture and treating data as a business asset, and why people and process issues are the main challenges to successful business adoption of Big Data/AI initiatives.

https://hbr.org/2019/02/companies-are-failing-in-their-efforts-to-become-data-driven

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