Menu
Menu
‘Data is the foundation of digital transformation’

‘Data is the foundation of digital transformation’

Ray Wang of Constellation Research lists the priority investments for digital transformation projects areas for investments in order to lead successful digital transformation projects in 2017.

Digital transformation has evolved into a top priority for organisations, with boards and CXOs realising the concept involves more than just technologies.

But as investment increased in digital transformation, leaders realised that these projects were more than just one-time initiatives, says Ray Wang, principal analyst at Constellation Research.

“In fact, organisations learned that digital transformation projects were continuous efforts that required more than a tiger team and bi-modal approach for success.”

In his latest report, Wang lists several recommendations for successful digital transformation in 2017.

Every click, conversation, video, transaction, and interaction provides insight into future capabilities. Align the data to information flows and mine for insight. Take that insight and determine the next best action.

Ray Wang, Constellation Research

Top of his list is investment in data proficiency.

“Data is the foundation of digital transformation,” he explains.

He says Constellation research notes that 87 percent of successful digital transformation projects incorporate an underlying data component.

“Conversations with digital leaders reveal that teams need higher data proficiency in order to succeed. From identifying correlation to testing for causation, leaders must democratise skill sets for data proficiency,” he states.

Organisations must shift from gut-driven to data-driven decisions, he states.

“Every click, conversation, video, transaction, and interaction provides insight into future capabilities. Align the data to information flows and mine for insight. Take that insight and determine the next best action. From there, deliver a data-to-decisions capability for competitive advantage.”

The goal for organisations, he states, is to achieve e a level of automation and ultimately some level of machine learning and artificial intelligence.

“Organisations must build a data foundation that enables neural networks to self-learn and provide predictive and preventative capabilities that eventually will lead to automatic situational awareness.”

Hand in hand with investments in data proficiency is ensuring the organisation has “digital artisans”.

Balancing the right digital DNA inside an organisation requires both a right-brain and left-brain approach, he explains.

If an organisation has many scientists, technologists, engineers, or mathematicians, it should also add artists, ethnographers, anthropologists, design thinking experts, and story tellers.

The diverse team “can inspire innovation from across multiple disciplines”, he says.

Follow Divina Paredes on Twitter: @divinap

Follow CIO New Zealand on Twitter:@cio_nz

Sign up for CIO newsletters for regular updates on CIO news, views and events.

Join us on Facebook.

Join the CIO New Zealand group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags analyticsdataConstellation Researchdata proficiencydigital transformationRay Wangbusiness intelligence

More about FacebookTwitterWang

Show Comments