Big Data for Big Decisions: Building a Data-Driven Organization

This book provides a step-by-step methodology to create a roadmap and business case for building a data-driven organization (DDO), emphasizing the big decisions that influence 90% of business outcomes. It highlights the challenges and experiences of managers who have attempted to set up DDOs and emphasizes the importance of ensuring the right time and availability of data. Despite the hype around big data, analytics, and AI, many organizations struggle to deliver intended value from their investments. This book offers a fail-safe methodology for successful analytics investments, prioritizing the 10% of decisions that influence 90% of business outcomes and delivering material improvements in decision quality and measurable value. The acid test for a data-driven organization is when top-level strategic decisions are taken based on data rather than gut feelings.

Format: Paperback / softback
Length: 250 pages
Publication date: 30 December 2022
Publisher: Taylor & Francis Ltd

Building a data-driven organization (DDO) is a comprehensive enterprise-wide initiative that requires significant resources and commitment over the long term. Any organization contemplating such a transformation would demand a well-defined roadmap and a robust business case to evaluate its feasibility and potential returns. This book offers a step-by-step methodology to create both a roadmap and a business case, providing insights into the challenges and experiences of managers who have successfully established DDOs. The focus is on the critical decisions that have a profound impact on 90% of business outcomes, starting from the initial decision and reengineering the data to the decision-making process chain and data governance. The goal is to ensure that the right data are accessible and reliable at the right time, every time.

In today's rapidly evolving business landscape, where artificial intelligence (AI) and data-driven decision-making have become crucial for survival, organizations are increasingly investing in these technologies. While every enterprise aims to achieve 100% data-driven capabilities, Gartner estimates that over 80% of analytics projects fail to deliver the intended value. This highlights the challenges that CIOs face. face in their quest to transform their organizations into data-driven entities. Many CIOs perceive a data-driven organization as a distant dream, especially when they struggle to articulate the value of analytics. They recognize that isolated successes or one-time leveraging of big data for decision-making do not necessarily make an organization data-driven. As of now, there is no universally accepted definition for a data-driven organization or the criteria that qualify an organization to claim this status. However, the hype surrounding big data, analytics, and AI has led to increased budgets for analytics among CIOs. However, there is a lack of clarity on where to start, how to choose and prioritize analytics projects, and how to ensure successful implementation.

To address these challenges, CIOs need to develop a comprehensive strategy that aligns. aligns. This strategy should encompass the following.

Define the business goals and objectives that data-driven decision-making can help achieve.

Identify the key data sources and analytics technologies that will support these goals.

Establish a governance framework that ensures data quality, security, and privacy.

Develop a talent strategy that ensures the right.

Implement a change management plan that ensures successful adoption and usage of data-driven decision-making.

Monitor and evaluate the impact of data-driven decision-making on business outcomes regularly.

By following.

Following these steps, CIOs can develop a roadmap and business case that will enable their organizations to leverage data and analytics to drive innovation, improve customer experiences, and achieve sustainable competitive advantage.

Weight: 489g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032017242