The digital transformation era is upon us, and it’s changing the business landscape faster than ever. I’ve seen numerous studies that show that digital companies are more profitable and have more share in their respective markets. Businesses that master being digital will be able to sustain market leadership, and those that can’t will struggle to survive; many will go away. This is why digital transformation is now a top initiative for every business and IT leader. A recent ZK Research study found that a whopping 89% of organizations now have at least one digital initiative under way, showing the level of interest across all industry verticals.
Digital success lies in the quality of data
The path to becoming a digital company requires more than a CIO snapping his fingers and declaring their organization digital. Success lies in being able to find the key insights from the massive amounts of data that businesses have today. This requires machine learning–driven analytics, and there has been a significant amount of media focus on that topic. The other half of the equation is data. Machine learning alone doesn’t do anything. It needs to analyze data, and as the old axiom goes, good data leads to good insights, and bad data leads to bad insights.
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