The data & analytics revolution
The single quote that stuck most from today was Gartner’s prediction on data & analytics the upcoming two decades (Gartner comparing to previous major technical revolutions such as electric light and the internet):
“The world of data & analytics will have an even bigger impact on our society over... the next 20 years...”
From “one truth” to “data to trust”
As new types of data are captured and new ways of using the data is enabled, the strive for one truth is becoming an increasingly complex matter. It might even prevent real data driven innovation. Instead we should strive for and create frameworks for certifying various levels of trust.
Analytics – the center of digitization
If you didn’t know it already, data & analytics is in the absolute center of digitization. Especially if we include (which we should) AI and machine learning. Nearly all digitization initiatives are about creating or capturing new data, and data & analytics is the field where we make valuable use of it.
Decision making - the last business process to be digitized
Also, I noted something I haven’t heard from Gartner before: The emphasize on creating a decision culture and developing the decision process, one of the business processes yet to be digitized.
I like it. I think the current discussions around “data driven decision making” sometimes puts too much emphasize on the technology that provides the data. The true business value comes from having efficient decision-making processes, where obviously analytics is an important enabler. But a decision process also contains a set of rules for how to act in different scenarios with the intention of making early and correct decisions. When these are in place we can even start talking about automating some of them. THEN, we can start talking about data driven decision making.