The CEO Mandate: Become Value-driven,Not Data-driven
"Data is the new oil."
For the first time in my long tenure in the data and analytics business, the world has started to associate "value" to data. In fact, The Economist on their May 6, 2017 magazine cover declared, "The world's most valuable resource is no longer oil, but data," validating the digital future and putting an end to the way most organizations have previously regarded data in its collection, storage and associated reporting—as a necessary cost of doing business and one to be minimized, at that.
But what does "data is the new oil" really mean and how will it impact organizations?
In the same way that oil fueled the economic growth of the 20th century, data will be the catalyst for the economic growth of the 21st century. That data, including Big Data and Internet of Things (IoT) data, coupled with advanced analytics, such as Artificial Intelligence (AI...