How to become a data-driven organization and why is this key for future business success
"A global pandemic has played a big part in elevating the data literacy of the 'everyday man', essentially demystifying data science for many of us. There now seems to be a much clearer connection between 'what the data says' and 'what action we'll take'. It's a good example of data-led decision-making to drive the best possible outcomes.
In the same way, businesses can also drive better outcomes if they understand this connection and use it to transform their business model to one that is driven by data. Building a data-driven future is what will give businesses their competitive edge at a time when 'survival of the fittest' counts the most..."
It doesn't matter what area you work in tech-even if you're only tech-adjacent-most organizations lag in efforts to ensure staff has the vital skill of a good grasp of data
"Bilingual a plus" is a rote standard of job descriptions that now levels up in the tech industry.
The boon of data and analytics capabilities, as well as the increasing effectiveness of artificial intelligence, has made it essential that creators, including every department within the company as well as consumers "'speak data' as a common language," Gartner reported. "Data and analytics leaders must champion workforce data literacy as an enabler of digital business and treat information as a second language."
Data literacy is an organizational asset: Venngage Infographics released some suggestions for businesses to increase data-driven decision making, which in turn will fuel better performance...
The Big Data Dilemma made a huge splash in the last Fundata Film Festival - the best-kept secrets of both the film and data industries - and grabbed the Official Selection designation of 2021.
"Shattering the 'data-driven' hype and revealing the coin-flipping truth, The Big Data Dilemma brings together global data anti-vangelists to tell it as it is, or at least as they believe it is. To quote Ashit Yunot, a data science PhD, 'Data means nothing. And I have tons of data to back it up.'
The falsely-labeled 'mockumentary - it's actually a documentary, really, there's nothing funny about it; if anything the revelations in the film promote a certain sadness - demolishes long-held beliefs in such powerhouse buzz-slogans as 'data is power' and 'data is the new oil' only to expose the real power of instinct, gut and of course luck, as the true foundations of any successful business..."
Your data can be compromised by everyday activities, not just online banking, as many people think. Here are some simple best practices for anybody using the internet, and that's just about everybody
Data security is always a major concern for consumers. We may listen to the warnings about data security breaches during major public security breaches, but on a regular basis, most of us underestimate the risk to our personal data that comes with connecting to public, shared or unsecured WiFi.
Recent estimates showed that 87% of consumers had at some point potentially put information at risk while using public WiFi. And the scariest fact is that your data can be compromised by everyday activities, not just online banking, as many people think. Simply logging onto your personal or corporate email from a restaurant or airport lounge can give hackers access to an alarming volume of your personal data..."
The rate of data decay has accelerated as a result of the pandemic. Find out what to do about it before 37.5 percent of your customer data becomes obsolete
"In an increasingly customer-centric world, the ability to capture and use customer data to communicate effectively, shape products and solutions, and orchestrate the buying experience is becoming increasingly important. Research from McKinsey prior to the global pandemic showed that organizations that leverage customer data outperform peers by 85 percent in sales growth and more than 25 percent in gross margin. The report concluded, therefore that customer data is one of an organization's most valuable assets and must consequently be treated as strategic. With the advent of Covid-19, this is now more important than ever..."
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