By Helen Mayhew, Tamim Saleh, and Simon Williams
Does your data have a purpose? If not, you’re spinning your wheels. Here’s how to discover one and then translate it into action.
The data-analytics revolution now under way has the potential to transform how companies organize, operate, manage talent, and create value. That’s starting to happen in a few companies—typically ones that are reaping major rewards from their data—but it’s far from the norm. There’s a simple reason: CEOs and other top executives, the only people who can drive the broader business changes needed to fully exploit advanced analytics, tend to avoid getting dragged into the esoteric “weeds.” On one level, this is understandable. The complexity of the methodologies, the increasing importance of machine learning, and the sheer scale of the data sets make it tempting for senior leaders to “leave it to the experts.”