#96-Data-Driven Decision Making will improve the future of work and create transformation friendly organization culture

The success of a business depends on the decisions the board takes or fails to take

1. Businesses will take all decisions based on data. Leaders will no longer operate out of their intuition and gut-feeling especially when shareholder’s value creation is at stake
2. Data-driven decision-making will influence all business decisions- supply chain bottlenecks, inventory management, product design, product launches, ad spend and marketing campaigns, digital ROI, work from home strategy, employee productivity, personalization at scale, predictive models for digital operations, and superior customer experience.
3. Dependence on one monarch or ego-driven board will reduce immensely for critical business decisions and greater transparency will prevail.

The data will be available real-time for quick decision making and modeling

1. No need to wait for monthly and quarterly reporting or consolidation of transactions. Data will be available on a real-time basis and getting refreshed/updated after every few minutes. Data will be fluid and include multiple high integrity checks related to quality.
2. One data view (ecosystem) will help in ensuring that data pipelines of business units that are inter-dependent are connected and analyzed collectively

Data infrastructure or architecture design will be multi-platforms converging into one super-platform

1. All business units and regions will report -customer, operations, partnership, and supply chain data in a cohesive manner first into their own platform which will then converge into the next level of the platform (country/geo/channel/product segment) and which will finally feed into one super-platform for the entire organization
2. The access to the platform will be dependent upon the approval rights based on the span of control the leadership prefers.

Open Data Platforms will emerge at industry level

1. Open Platforms with data models will emerge especially in cases where industry-level data could be critical for the success of all participants or industry partners. For example, for the success of the mobility or auto insurance industry- connected car data (v2v, v2i, i2v) will be critical.
2. Likewise, for big pharmaceutical companies, there will be greater collaboration via these open platforms with information on clinical trials and EMR (electronic medical records) based on data privacy guidelines

Digital Trust will become even more important through data -regulations, privacy, cybersecurity and ownership-based controls

1. Organizations will require to have multi and hybrid cloud operating models in place
2. Intelligent edge will become even more popular for data that cannot migrate to the cloud
3. Stricter regulations in place to ensure superior privacy controls and data monetization rights
4. Web3 models and blockchain technology will enable data ecosystems based on smart contracts with no single orchestrator

KPI management and Digital ROI will be tracked closely through on-demand dashboards

1. All critical business transformations and initiatives will be managed and tracked based on outcomes achieved that can be substantiated by data
2. On-demand dashboards to showcase progress and bottlenecks will be normal. Project owners will be asked to solve the bottlenecks through system-based reminders

Chief Data Officer and Chief Digital Officer roles will form part of organization structure

1. Data intense industries and organizations will require a center of excellence “Data-Ecosystem office” that is managed by Chief Data Officer
2. The chief data officer will work very closely with the Chief Digital Officer and the Board/leadership of the company- business and geographic segments.

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Digital Strategy and Business Transformation Leader

Sidhartha S. - Singapore | Professional Profile | LinkedIn