In today’s world, stakeholder value is crucial for both futurists and executives. Data is a vital component of this, with “Big Data” being particularly important for CIOs and digital executives to pay attention to. It is essential to ensure that Big Data receives the attention it deserves in order to unlock its full potential.
When faced with challenges like maximizing the value of data, it is important to reevaluate our perspectives and approaches to the issue. A mental model audit can be helpful in identifying how we view data and where improvements can be made. By asking senior executives whether they classify themselves as Swallows with big ideas, Hedgehogs with a single defining idea, or Moles focused on short-term projects, organizations can gain valuable insights into their thinking about data.
It is clear that integrating data and analytics into an organization’s strategy-making process can lead to significant success. According to the Gartner Data and Analytics Summit 2024, companies who emphasized data, analytics, and AI outperformed their peers 80% of the time over the last nine years. By clearly articulating ambitious data goals and linking them to achievable projects with tangible milestones, organizations can effectively create value with data.
