2. Looking at data as a 'first-class citizen'
Every company wants to become a data-driven business. But what does this look like, and what does it take to get there?
Think of the front and back office as two halves of a whole – each getting data right on their own, but the connection is crucial. Though the back office focuses on data infrastructure, governance, and insights-sharing, this is defensive work that needs to run seamlessly at scale. However, the front office is on the offensive to deliver new business models, higher customer value, and sticky consumer experiences.
On the other hand, data and technology must become two separate asset classes. And data requires far more governance and ownership – with accountability flowing back to the business. It's been interesting to discover how much of a journey, not a destination, data really is. Even for truly data-driven companies, day-to-day data management and government continue to evolve.
Choice and cost are also important considerations, especially as the volume and diversity of data grow exponentially – businesses must rethink where to keep and how to manage data, at the center or at the edge. But many enterprises still spend time on wasted reporting. To focus on quality over quantity, forward-thinking technology leaders are creating a core set of reports and pushing leadership to use common data in management meetings.