An organisation's intelligence shouldn't be limited to internal data or the knowledge of its employees, but should also make use of data from its external ecosystem of partners, customers, suppliers, and so on. The data available for analysis should therefore not be the exclusive domain of people within the organization - it needs to incorporate information from third parties as well.
9. Embrace Governance
Governance is often seen as standing in the way of the innovation and agility of a business, but without it, organisations would face unnecessary risks. Governance - getting the right data sets to the right people - is key to empowering users with the appropriate information needed to improve their decision-making. With this in mind, governance should focus less on power and surveillance, and more on opening access to relevant applications and analytics up to the business community.
10. Data-driven business models
Data-driven organisations recognize that data analysis doesn't just help leaders make the best decisions in a short timeframe, but can also help to identify new growth opportunities, define new business models and show new ways to reduce risks. More than half of companies with big data projects, according to Gartner, focus the use of their data in generating new business ideas or design to optimise sales processes. By putting data at the heart of all operations, organisations can gain more than just agile decision-making, it may open doors to new business models.
We now have more data available to us than ever before, which makes us more informed as a society. Through visual analytics technologies, organizations are able to drive changes, optimize their business and, ultimately, improve their decision-making. The new data-driven business models need to focus on people. The key will be to equip each and every member of staff with the ability to analyse data and get insights that can help drive the business forward.
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