Regardless of your role or industry, we’re all in the midst of an avalanche of data. And while it can seem like a crushing force that may never end, if businesses are able to take the weight and turn it into valuable insights, they can emerge unscathed—or in better shape than they were before, even.
Recently, we brought together many of Australia’s technology leaders in partnership with advisory firm IBRS to discuss what needs to be done to not only avoid getting snowed under by all this data, but to ride the crest of it. Here are a few of the key takeaways:
1 – There is no such thing as a data project
It’s apparent from listening to technology leaders’ experiences in driving business value from data and analytics that many are struggling to actually generate the results needed to move the dial.
Much of this comes from the approach of not linking the process to the business objectives. Projects should be focused on business transformation rather than working with data for the sake of it, and always tied to improving key indicators of success, like conversion rates. Through Domo, all of these can be tracked in real time to understand what activity is directly driving results.
2 – Leadership must come from the very top
Those of you who attended our recent Reimagine series will be familiar with our Digital Transformation Journey Map and the need for visionary leadership to engage in actual transformation.
For major transformation projects, the lion’s share of the will needs to come from the very top—the CEO or the board. Lower down the ladder, there are employees with the potential to lead transformation efforts that are linked to business problems. Ultimately, however, such an ambitious initiative must be part of a collective vision for long-term success, and endorsed by top leaders.
3 – Data engineers are part of the answer
Most people are well aware of the demand for data scientists as well as the shortage of them available. Recently, I shared how many of our top customers are finding a way around the skills gap by augmenting talented data scientists with a sophisticated data strategy using Domo—i.e., doing more with less.
But the role of the data scientist itself will change as AI and machine learning takes on many of the more basic engineering functions, according to our IT leaders, who see the emergence of data engineers and exploratory data scientists as the answer to building a comprehensive data strategy closely aligned with business objectives.