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

  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.
  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
  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.
  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
  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
  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
  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.

Connect with Sidhartha Sharma on Linkedin

Digital Strategy and Business Transformation Leader

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Sidhartha Sharma- Future of Tech, Digital & Data

Sidhartha Sharma- Future of Tech, Digital & Data

~16yrs Consulting- McKinsey & BCG-Digital Strategy, Ecosystems & Ventures | Start-Up Mentor | Platforms | Digital-First | Author & TEDx Speaker. Views Personal