Amid stronger business competition than ever before, companies need to do more than simply embrace buzzwords or trends. It’s something we see all the time when out in the field talking to customers, or speaking at events. When it comes to the role of data, the emphasis should instead be on instilling transformation into the very DNA of an organisation.
Quick fixes are not the order of the day and, while the utilisation of tools such as Artificial Intelligence (AI) and Machine Learning (ML) may reap initial rewards, focus needs to switch to a longer term, more all-encompassing cultural shift surrounding data analytics.
This is, and has been, Mango’s view over the past 16 years, and is one that’s expanded on in detail by Rich Pugh, Mango’s chief data scientist and co-founder, and CEO Matt Aldridge, in the Future of Data Report, recently published in The Times. According to Rich, the notion that ideas like AI or ML can just be plugged in and the company then watches as money pours out of their servers is dangerous. But at least it’s opened the door to having the conversation about how companies can become data driven. “Our organisation is focused on facilitating these conversations that we believe should have been occurring 16 years ago, so we can help companies avoid quick buzzword-led reactions and instead strive for a cultural transformation based on data. The question for all reverts to ‘where are you on your data-driven journey and what’s the best way forward for your company?”
Download the Future of Data Report, as seen in the Raconteur in The Times, to read Rich and Matt’s full article. Other data-focused topics covered in this comprehensive 16-page report include the ‘data versus humans conflict’, the new discipline of ‘infonomics’, the use of AI for creating value from unstructured data, the future Data Scientist, and an infographic that tracks the volume of data generated in a single day. We’ll be sharing Mango’s views on some of these very topical themes, so watch this space.
In the meantime, take our quiz to find out where your company is on its data-driven journey, or get in touch with us if you’d like to find out how to transform your business model using the power of data.