Expert Interview: Embracing Digital Transformation With Data-Driven Leadership And Culture

The term "Data" has been a big thing for about a decade now, but do we truly understand what it means for an organization to be data-driven?

Even though organizations are generating trillion bytes of raw data every day, only a handful of organizations understand how to harness business value from data with the cutting-edge Data and AI technologies.

“The key strategic advantage and the biggest asset is that organizations can live, breathe, and act according to the data.”

This means harnessing amazing big data assets and developing unique algorithms to interpret (and monetize) that data. It’s a way of working that is cultivated, nurtured, and harnessed with time, supported by the pillars of Strategy, Talent, Organisation, Analytics, Data, and Technology, an abstract from Harvard Business Review.

"To create an organization that will thrive in a new Digital Economy is not based on their data scientists' brainpower or the actual functionality of their technology but operating in a radical data-driven culture."

What attributes make you a great data leader?

Information Age and FICO blog have shortlisted a few traits of a strong data leader.

Here are some of the traits listed:

1. Ability to understand what data means to their business segment and bridge the technical and business gap
2. Enable data innovation to take place within an organization
3. Have the courage to experiment and willingness to spend time, effort, and resources to discover and explore data available.
4. The ability to separate hype from potential, i.e., does not fall into fancy ideas, which bring no practical usage to the business outcomes.
5. Alignment with business mission and vision
6. Constant monitoring of data anomalies and statistical variations
7. Ethically use data to drive better business performance

An Outlook of the Future of Work from Data-Driven Business Leaders

Recently we had an interview session with data-driven business leaders from Malaysia, Singapore, and Europe where we discussed:

1. What is the greatest fear for CHRO to embark on a data-driven organization journey? Do they know what the CEO wants to begin with?
2. How can we create a data team in an organization with different departments and talents within a large organization?
3. How would you define digital leadership?
4. How far has the notion of leadership shifted due to digitalization?
5. What are the challenges companies see in building a digitally competent workforce?
6. What are the challenges companies see in building a digitally competent workforce?

Watch this insightful sharing session with leading Data scientists and Data-Driven business leaders in Malaysia, Singapore, and Europe.

Win the AI Battle with Data Savvy Professionals

Transforming the business to thrive in a digital economy is the number one priority of many organizations today. But what is the Chief Human Resources Officer’s (CHRO) role within organizational alignment towards becoming data-driven?

Achieving full implementation of data-driven maturity means executing an augmented strategy that champions change across functions, staging the rollout of the technology, and enhancing capabilities of talent. Ultimately organizations that differentiate themselves drive a culture of action based on insights and where insights are based on data.

Digital transformation has proved time and again to be the critical catalyst in disrupting organizations across industries. Some companies have ridden on the wave and seized opportunities enabled by digital technology, and some have shut their lights.

As leaders lead their organizations to a digital economy, they will need to start building a new culture that leverages data and insights to execute their business plan and compete in the market. Leaders need to start shifting their mindsets to leverage data insights for their decision-making process, which will be crucial for organizations to thrive.

Learn about a proprietary tool to formulate a data-driven business strategy for organizations based on the data-driven maturity level of an organization.

Unlike traditional transformation programs, the DDO Model focuses on comprehensively transforming six key areas within the organization comprising Strategy, Organization, Talent, Analytics, Data, and Technology.

The DDO Model assesses and provides insights on where organizations stand with respect to each of these six areas. The insights include recommendations of what the next steps are. From these recommendations, Dr. Stam and his team can assist to develop a comprehensive action plan for each area utilizing AI-powered systems to drive business innovation and business growth.