Today, technologies have advanced, and data is available but companies are still struggling to monetize their data, even failing to build up their data assets.
The data challenges facing companies are:
- Legacy technology, often decentralized and unconnected
- Siloed organizational structures and business processes
- Understanding data isn’t only for reporting but building new business models
Companies face the need for a paradigm shift to create a data-driven culture to turn data assets into a process of creating new products and services. To enable connected, fast, and sharable data, that quickly returns the development investments to the business, old technologies and operational models need to be challenged.