Every Company a Data Company?
An article recently appeared in Forbes that served up a warning: even if you think your company isn’t a data company, it is. The piece went on to draw from a NewVantage survey that showed 79% of the executives surveyed are worried about disruption by data-driven competitors.
They should be.
Even if you think your company isn’t a data company, can you state for a fact that your competitors don’t consider themselves data companies either? And if you can, why are you passing up the opportunity to become the first in your space to put data-driven decisionmaking at the center of your business strategy?
Because whether you like it or not, as the article’s writers mention, there is an increasing urgency around data, driven by the realization that once big data really gets moving, companies are going to start “moving fast and breaking things”. Like Facebook (which the article writes about), data-driven companies will use data-driven insights to out innovate and outmaneuver not only their competitors, but any new target they set their sights on. Amazon, for instance, may not be coming after you now. But can you be sure it won’t be coming after your organization the same way it went after brick-and-mortar book stores, electronics stores, department stores, grocery stores, healthcare and others?
Make no mistake. Data will change the world. It will change your world. And this is a good thing–as long as you’re the the one driving those changes.