article thumbnail

Is your data strategy ready for gen AI? LOB leaders may disagree

CIO Business Intelligence

Rapid advancements in artificial intelligence (AI), particularly generative AI are putting more pressure on analytics and IT leaders to get their houses in order when it comes to data strategy and data management. But the enthusiasm must be tempered by the need to put data management and data governance in place.

article thumbnail

Business Management Systems for Data-Driven Businesses

Smart Data Collective

Big data has become an invaluable aspect to most modern businesses. Nevertheless, many companies have been reluctant to Harvard Business Review reports that only 30% of businesses have a data strategy. However, companies with data strategies are far more successful than those without.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Data-driven financial planning is still falling short of its potential

CIO Business Intelligence

It’s especially poignant when we consider the extent to which financial data can steer business strategy for the better. This is the impact of data-driven financial analysis – or what is termed FP&A – in the business context. billion is lost to low-value, manual data processing and management while $1.7

article thumbnail

Data Strategy: The Missing Link in Your Digital Transformation Plan

Smart Data Collective

Specifically, we’re talking about how digital transformation efforts routinely fail to take advantage of the data they provide access to. All those invoices have reams and reams of valuable data that you can use to create reports, forecasts and direct management decisions. Why Are We so Focused on Data Strategy?

article thumbnail

Data-Driven Business Applications Businesses Can’t Live Without in 2022

Smart Data Collective

There is no question that big data is changing the nature of business in spectacular ways. A growing number of companies are discovering new data analytics applications, which can help them streamline many aspects of their operations. However, there are a lot of third-party big data applications worth investing in.

article thumbnail

3 data-driven approaches to raise the bar on customer experience

CIO Business Intelligence

Business leaders, recognizing the importance of elevated customer experiences, are looking to the CIO and their IT teams to help harness the power of data, predictive analytics, and cloud resources to create more engaging, seamless experiences for customers. Embed CX into your data strategy. Consider three key areas of focus: 1.

article thumbnail

Create an end-to-end data strategy for Customer 360 on AWS

AWS Big Data

This view is used to identify patterns and trends in customer behavior, which can inform data-driven decisions to improve business outcomes. In this post, we discuss how you can use purpose-built AWS services to create an end-to-end data strategy for C360 to unify and govern customer data that address these challenges.