From a personnel perspective, Big Data & AI will enable business leaders to spot capability gaps and invest in tailored training that will lead to better performing and happier staff.
The advantages that Big Data & AI gives organisations will be vastly improved decision-making that will inevitably lead to increased effectiveness, efficiencies and profitability.
Too few business leaders understand Big Data
Big Data could give organisations a huge competitive advantage – but only if they know how to put it to good use.
Although many business owners and CEOs have introduced Big Data into their operations, very few know how to use it effectively.
Too often, Big Data ends up becoming siloed because a CEO or senior management team hands over responsibility to a certain department – IT, for instance – rather than involving themselves directly in implementing data approaches across all operations.
What this means is that data-driven strategies and initiatives don’t get out of first gear, because too few people in the organisations understand enough about data or have the capabilities to be able to use it.
Ultimately, organisations miss out on great opportunities and fall behind their competitors because they don’t have a strong enough data culture.
In conclusion – learn H.O.W to use data effectively
In what is a new world of unknowns, Big Data & AI can play a huge part in improving customer targeting, customer experiences, customer retention, risk management, supply chain, stock management, marketing campaigns and even product development.
What incredible power to have at your disposal – but only if you know how to use it properly. The importance of this capability will grow in the new world, as brands and retailers try to work out how their customers will behave.
Please contact us if you would like to learn more about our H.O.W Big Data & AI capability building program, which is designed to give business leaders all the practical knowledge they need to maximise growth and productivity with data.
This article was written and created by the eBusiness Institute team.
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