We’ve entered the era of the information economy where data has become the most critical asset of every organization. Data-driven strategies are now a competitive imperative to succeed in every industry. To support business objectives such as revenue growth, profitability, and customer satisfaction, organizations are increasingly reliant on data to make decisions. Data-driven decision making is at the heart of your digital transformation initiatives.
But in order to provide the business with the data it needs to fuel digital transformation, organizations must solve two problems at the same time.
The data must be timely, because digital transformation is all about speed and accelerating time to market— whether that’s providing real-time answers for your business teams or delivering personalized customer experiences. However, most companies are behind the curve when it comes to delivering technology initiatives quickly.
But while speed is critical, it’s not enough. For data to enable effective decision-making and deliver remarkable customer experiences, organizations need data they can trust. This is also a major challenge for organizations. Being able to trust your data is about remaining on the right side of regulation and customer confidence, and it’s about having the right people using the right data to make the right decisions.