Data Management: How to Turn Data into Intelligence?

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How to become a data-driven company? Good data management is key. See how to do it.
As companies focus on creating differentiated experiences for their customers, business models are undergoing profound transformations. Artificial intelligence (AI), big data, predictive, prescriptive and augmented analytics, and other emerging technologies (such as cognitive systems) enable disruptive changes and innovation, not only at the level of services and products, but directly in the ways in which companies structure and plan their activities.

However, let us not be mistaken: what is at the root of this revolution is not the technologies themselves, but the data. And what really makes the difference is the ability to convert data into intelligence – that is, into valuable information for decision-making.

How to achieve it?

As the raw material that artificial intelligence algorithms work with, data is an essential asset for companies today. But for it to provide value, a data optimization process must be undertaken, which involves homeowner database able to store, cleanse and transform it in such a way as to move from big data to smart data that provides real value. This is key, since the quality (data quality) and the way in which data is processed will define the ability of companies to take advantage of the potential of disruptive technologies, both at the level of innovation and operational improvements. Successfully adopting and managing data in all its forms is an essential prerequisite.

According to Forrester Research , truly knowledge-driven organizations are growing at an average of more than 30% annually. These data-driven organizations dominate their industries and create new markets by generating actionable insights through data collection and analysis. In effect: a data-driven organization puts data and analytics developments front and center in its business strategy.