Use Data to Answer Your Key Business Questions

The key takeaway from this excellent piece is below:

Oftentimes, this disconnect stems not from faulty data science, but from an organization’s failure to consider the activation-readiness of their approaches to real-world applications of analytics. For many organizations, activation, or the art of leveraging data to do something meaningfully different in the market, is the missing piece that bridges the divide between insight and business value.

Organisations, such as healthcare institutions, have become increasingly bureaucratic and complex and data-driven insights are “threatening to disrupt the red tape”. I think that is the key metric which is pushing forth the debate on “AI taking away the jobs” and often the point of useless debates in conferences.

At the other end of the spectrum, most hospitals in developing countries are stuck in the analogue world with pen and paper and those marginally evolved- with excel sheets. It would be impossible for them to understand the value data can provide; even as a differentiator. World over, businesses are developing “digital moats” and the ones who understand this process would win the slugfest, in terms of the dominance of market share and “differentiated” experience.

via Use Data to Answer Your Key Business Questions