Many businesses still do not understand how collecting, managing, and analysing data can help them take that digital leap. Though currently, there are multiple narratives driving digital transformation – mainly on Industrial 4.0, highlighting data analytics as being a critical enabler, many decision-makers are still overwhelmed by the prospects and processes it entails.
According to a Consumer Intelligence company, Dattel, it all boils down to making these organisations more ‘data-aware’.
Ashran Dato’ Ghazi, CEO of Dattel says, “Being data-aware is a state where business entities understand how data is prevalent in everything. Knowing this is the first step to embracing the digital era. “What we do for the day, why we do it, and how we consider something decisive – all of them have always been data-driven. These steps and so much more will nurture a broader worldview for all. However, this can also be overwhelming for some.”
Businesses that understand the value of data will have the first-mover advantage when they join the digital bandwagon. By being data-aware, these companies will know what to expect as and when they start innovating their operations. This will also help decision-makers feel less overwhelmed when they push their business through the transition.
“This is how business owners can quickly get on board with digital transformation. By being digitally ready, they will come to realise it goes beyond collecting and managing data – it’s also about refining and making sense of it all. In doing so, they will be more willing to take that leap of faith. Decision-makers will also be better equipped when making critical choices,” Ashran shared.
Being more data-aware and knowing what to expect when it comes to digitisation will give business owners a higher level of confidence.
It’s all about having “the clarity of intent and knowing what the end results are before going after that goal!” With these newfound data-driven insights, taking the digital leap will not feel like an overwhelmingly impossible task.
This and other insights about the data economy were shared during a panel discussion titled “Future-Proofing Business in the Digital Age” at the recent SSM National Conference 2019.