Business leaders often believe their organizations are swamped with business process information, but that information is a relative trickle…compared with the wealth of physical-world, biological, public and personal-preference data that is being made accessible by powerful technologies.
The sheer quantity of all this information is unprecedented, but so is the complexity of working with it. Yet, despite its volume and disparate nature, this data is potentially useful to business because the computing power necessary to merge, manage and make sense of it also has been advancing and becoming more affordable…forward-looking companies are positioning themselves ahead of this information curve by moving quickly and down two parallel tracks: increasing the company’s ability to gather and access new forms of data while simultaneously building organizational capability to use that data for insight. To accomplish both requires great innovation in leadership and strategy.
Modified thoughts from Glover Ferguson, Sanjay Mathur and Baiju Shah