Nimble and Intelligent Businesses
If the year 2020 has taught businesses anything, it’s that digitalization and technology helped them to respond to abrupt market disruption to survive and to thrive. Going forward the key question is not whether to go through the digital transformation but how to leverage it to achieve the speed to respond to any business disruption.
Digital change, at speed that we witnessed last year, has become the norm and few excuses left for operating in a non-digital way. All businesses embraced the imperative to be intelligent businesses that can change direction nimbly, with speed, and informed impact. Leaders and organizations are increasingly putting the business models and operating systems of digital natives into practice. Businesses are accelerating the initiatives to realize the benefits of capturing and utilizing data from internal and external sources. The businesses that move quickest are most likely to reap the rewards in a more impactful way than their ‘data slow’ competitors. Successful businesses rely more heavily on data to make critical decisions for markets, products, offerings, operations, employees and other stakeholders. Predictive analytics is helping leaders to gain competitive edge in the marketplace. Data analytics help to identify the optional levels that can be pulled to drive change and realize business benefit. The real value of data initiatives lies in knowing where we are going and how we are going to get there. Organizations of all sizes are adopting artificial intelligence (AI) to drive intelligent analytics. AI encompasses various technologies that allow machines to learn, sifting through raw data from various sources in order to find and unlock valuable predictive insights into future events. Predictive analytics enables businesses to better adapt their strategy to likely future outcomes and get an edge in the competitive market. Forward-thinking, data-driven organizations must therefore adopt the tools and practices that provide them data access, agility and trust meaning assurance that the data is correct in the first place. Where data used to be a side effect of business operation, it is now the driving force in today’s competitive and fast-paced environment