The Data Economist - Blog (ENG) | Establishing sustainable "Data Inspired & Digital Culture"

Why data driven decision making and data products are critical for businesses to compete.

In today's business world, the importance of data can no longer be overlooked. Data is the lifeblood of modern businesses and is the foundation for competitive advantage, improved customer experiences and breakthrough innovation. A comprehensive understanding of the importance of a data-driven culture and the value of data products is therefore crucial. A data-driven culture can help make fact-based decisions and increase operational efficiency, while thinking in terms of data products allows companies to effectively monetise their data assets and create sustainable value. Below, I highlight the benefits and characteristics of these aspects in 3 parts.

Why a data governance-oriented data fabric is essential for scalable qualitative data products

Modern process approaches, agile working, cloud technologies and AI offer new opportunities

In our data-driven world, qualitative data products are key to business success. But scaling such products efficiently requires a robust data infrastructure. This is where the data fabric comes in. A successively (agilely) built, data governance-oriented data fabric ensures that data quality, protection and use are at the centre of all efforts.

Advanced Rapid Data Performance Simulation (ARDPS)

Quickly ramping up data competency and understanding the connection between data, processes, and business success early on

In the digital world we live in today, data has undoubtedly taken on a central role. With the massive amounts of data constantly being generated, there’s a growing need to efficiently manage, analyze, and interpret them. Through the integration of cross-functional collaboration, dual-track agile methodology, and the application of cutting-edge technologies such as ChatGPT Interpreter and InfoZoom, ARDPS (Rapid Data Performance Simulation) enables organizations to maximize their data investments and realize successful data projects and products.

Data Driven Company - Data Intelligence Needs Data and Process Consistency

Only the triad of data consistency, process consistency, and consistent data analysis makes companies Data Driven and Customer Centric.

For a successful transformation into a data-driven company, it's crucial to uniformly view and understand processes and data and establish data consistency. This means data can flow seamlessly across various departments and systems, are in a consistent form, and continuously support operational processes and people.

Data Literacy has to emerge outside the bubble, otherwise it won't work out with the Data Driven Company!

Lately, I've been getting the feeling that we data experts live in a bubble. More and more often I hear that we would like to become data driven, but the others just don't understand us. But isn't it up to us to communicate our knowledge in such a way that others understand us? It's often very much about technology and what technology can do. We also talk about how technology will change our lives and cost jobs. Sometimes we even make fun of exciting technology or how stupid it actually is, as in the case of Chat GPT. Everything is somehow negative. Shouldn't we talk about it in a more positive way and what all becomes possible when we draw the right path and how it can help us? I often take two guiding principles to heart.