As we are continually reminded, data is everywhere, but what are organizations actually doing with it?
My new report, “The Data-Driven Business: How Industry Leaders Use Data to Create Value”, looks at how data, big or small, is informing and driving businesses, from a university hospital to a customer service software company to a world-famous rap artist.
Based on interviews with global brands, technology innovators and industry experts, this report identifies three areas where organizations are using data to create value:
- For operational improvements, cost reduction and risk mitigation;
- To better understand and market to customers, and serve them at relevant touch points; and
- Innovation, whether related to existing products and services or new ones based on the data itself.
The report is intended for business people who are interested in learning more about the impact of data proliferation and how it may be used to drive competitive advantage. It lays out the key use cases for data-driven value creation, presents examples of organizations that are using data creatively and effectively, outlines the most pressing issues and opportunities, and presents best practices that show how data strategy can transform organizations.
Case studies include:
- Zendesk: Optimizing the business with data
- Ice Cube and Fame House: Using data to build digital engagement
- University of Iowa and DELL: Transforming patient care with data
What’s next? Making it all easier. Says Rory O’Driscoll of Scale Venture Partners, “In the next generation, we will have even more data. Value will be created by software companies taking the complexity out for the customer.”
I’ll be doing a webinar on this report on Tuesday, March 8 at 10:00 am Pacific. Please join us by registering here.
As always, I’m extremely grateful for the participation and support from everyone who contributed to this report. Thank you all so much for your time and insights.