There is a lot of talk about data being the new gold. As such, many companies are investing large sums of money into becoming data-driven businesses. It is sold as a completely new way of doing business, almost as if business has never been data-driven before.
Sure, many companies struggle to be completely data-driven, but I think the bigger problem is that it's not nearly enough.
We’re all looking to extract something magical from data. That’s why we collect it in big data lakes, data warehouses, and all the other large collections of data that haven’t yet been given a sexy marketing label. I think we all fall into the trap of wanting to unearth a treasure trove of data. Somehow we can’t shake the idea that these huge collections of data are the foundation of some analytical superpower that will ultimately propel our businesses to new heights.
Data technology and data engineering teams are often seen as the deciding factor when it comes to turning data into business benefits. While technology and engineering are undoubtedly important, a more holistic approach is needed to truly transform a company into a digital powerhouse.
In this article I will address the issue from the business side and explain why…
