5 Tips For Creating A Data-Driven Culture
SearchCIO, Tuesday, March 5th, 2024
A Capital One data product executive lists best practices for data-driven organizations, including top-down messaging, a three-tiered data ecosystem and democratized data access.
Enterprises have spent the past decade attempting to build a data-driven culture, whether that means monetizing data or using it to fuel technology initiatives such as AI, analytics and data science.
It's apparently a tough slog. A 2023 Harvard Business Review (HBR) whitepaper stated, "many companies are having trouble implementing a data strategy that generates business value." The whitepaper cited a 2022 NewVantage Partners study that found only 26.5% of the Fortune 1000 data executives it polled said they had successfully built a data-driven organization.