Five practical steps to developing a truly data-driven organisation
Being data-driven should be a core operating principle for all companies. Jeremy Hunt shares his experiences at Schroders.
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A common claim many companies make is that they are “data-driven”, and with good reason. Given the ferocious rise of Generative AI, not having this as a core operating principle seems rather foolish.
A 2022 McKinsey study found that modern data-driven organizations are 23 times more likely to attract new customers than those which don’t use data. Whilst the reasons for being data-driven appear to be well understood, it’s not always translating into a shift in organisational culture. A Gartner study in the same year found that 70% of staff within large organisations don’t engage with data available to them.
For those looking to instil a data-driven culture, this is problematic. I’ve spent the last 12 months trying to understand this challenge, to identify the key blockers and enablers in creating a truly data-led culture. Find out more here
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