Data-Driven Decision Power

Autor: Bratasanu Vlad, GM Digital Bricks

Intelligent process automation (IPA) will reduce complexity, replace manual processes, and improve both organizational performance and end-user experience. McKinsey estimated that companies across all industries are automating 50-70% of tasks, targeting operational efficiency and cost efficiencies. At the base of any digital transformation and automation are data-driven decision processes.

Historically economists have used statistics to test hypotheses, now emerging technologies, related to artificial intelligence, has the power to find relationships that have not been identified by theory. How your organisation will compete in the next years with business models that are using data-driven advanced tools?

In every industry companies that figure out how to combine sector expertise with Data Science to create significant competitive advantage, data-driven decisions tend to be better decisions. Data structures can create strategic business value and potential to differentiate from competition. 

There are five areas particularly important to manage change effectively a in data driven business environment: (1) leadership vision, (2) talent management, (3) technology correlated with big data strategy, (4) decision making processes maximizing cross-functional cooperation, and (5) a company culture that creates the environment to integrate data-driven from acting on hunches and instinct. As a consequence new type of organizational culture and the leadership role in the organizational development becomes necessary. 

The significant impact over the organizational systems and business goals requires a strategic approach in implementing data driven decision-making. Fist step is to learn new skills to take the opportunity brought by data management tools.

Organizations that understands its data assets, and how they can best be deployed to business advantage, can build a strong position in the marketplace. Incorporating data driven decision-making processes into the strategic vision and building capabilities, are driving organizations to redesign existing business operations.