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How EY can help
Employees will make more informed decisions on the spot – a customer better analyzed, or a supply chain problem unraveled. These tactical decisions will aggregate up into insightful predictive analytics – a more accurate market entry plan, or a complete supply chain overhaul. Data will no longer look backward – it will predict the future.
That is the data-centric organization, and it is not far away.
The challenge: not a step forward, but a leap upward
How does the enterprise get there?
The first stage is adoption of a visionary core data strategy – a transformation plan that sets a bold vision of the enterprise’s future. This is not about a single functional responsibility. It is about a growth mindset of technology and business leaders, placing data as a critical asset that can be a differentiator for an enterprise. This is built on a foundation of relevant data skills, both domain-specific and tech-specific.
This is a time to be bold – companies that are exceeding their own expectations are twice as likely (68% to 33%) to focus on bold new products or experiences (so-called “greenfield” solutions) compared to transformations that are falling short (Figure 1). “In the past, I would consider our company to be risk-averse,” says Sempra Infrastructure’s CIO, Chantale Rondeau. “Now, there’s been a mindset change, and there’s more of an appetite to explore innovative technology.”