Most CEOs are struggling to define and implement a data-driven strategy for their business. But data is essential for organizations to succeed in the digital age, and becoming a data-driven organization requires an enterprise-wide data and analytics strategy.
We foresee a day in which data will be an asset accounted for in a company’s balance sheet and reflected in its market cap. To remain relevant, businesses need to invest in a data platform, data governance and management processes under a culture that promotes data literacy, trust, and engagement. This new form of capital—Data—is as essential for businesses today to survive and thrive in the digital age.
of surveyed corporations have no data and analytics strategy
of surveyed employees feel fully prepared to use data effectively
CEOs who see data as capital can grow and ultimately reinvent their businesses to be more data-driven. This means that every CEO must be as strategic about acquiring, growing, refining, safeguarding and deploying their data as they are with their human, financial and intellectual capital.
In this report, we discuss the importance of being a data-driven organization in today’s day and age. From supply chains across industries, to clinical trials for life sciences companies, and analytics for manufacturing plants’ safety, data-driven approaches are having a great impact.
Our approach to help CEOs deploy data capital:
Enterprise-wide data & analytics strategy
Corporations must develop an enterprise-wide strategy linked to every aspect of their business and informed by IT strategy.
Data & analytics platform
Investing in a data & analytics platform is essential to obtaining connected and contextual data that leads to informed answers and greater insights.
Data governance & management
Trust in data often creates a gap between the promise and reality of analytics investments. Companies must ensure data quality and veracity.
Data culture & literacy
Everyone throughout an organization must be data literate and committed to being data-driven in their day-to-day work.
At Accenture, we know how to put data to work as capital. With the right data strategy and roadmap, leaders can grow and reinvent their businesses. Read the full report and connect with us to learn more about creating a data-driven approach for your organization.