Data is the lifeblood of digital transformation. It holds a wealth of knowledge enterprise leaders need to solve their biggest challenges, make sound business decisions, and create long-term customer value. But to generate data-driven insights at scale, teams need more than just access to data. They need the ability to process, analyze, and extract information from the treasure trove of data at their fingertips.
For most organizations, small teams with specialized training are responsible for data and analytics initiatives. As a result, most departments rely on a limited group of individuals to handle their data needs. In the digital age, however, this model is unsustainable.
Business leaders realize that all data carries value. And as such, it can't be the responsibility of only a few colleagues. Indeed, data is an integral part of every function, and all employees must have the tools to unlock its power. Or, even better, data-driven insights can be visible across the organization, making it possible for everyone to act.
To keep up with the technology revolution, organizations are reinventing themselves to move faster than market demand, stay ahead of the competition, and get closer to their customers. And it's all for a good reason. By the year 2030, the World Economic Forum estimates that more than 1 billion people – nearly one-third of the jobs worldwide – will need reskilling to keep pace with digital disruption.
At Genpact, for example, we recently launched DataBridge, an initiative to increase data literacy across our organization and shift employees away from transactional projects and into insight-generating roles. In essence, we aim to equip about 100,000 employees with the data and analytics tools, techniques, and skills they need to drive value for our customers.