Want to tap the power of to drive your business transformation? Consider this expert advice to shape your strategy
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As businesses look for ways to transform their organizations in an era of uncertainty and emerging competitive threats, many are turning to technology. Hundreds, if not thousands, of software companies, are already designing their products with a foundation of .
can provide significant tools to help businesses take advantage of their data and knowledge. But as with any complex business transformation, there are no quick solutions – solving complicated problems requires careful planning and a well-constructed roadmap.
What is the best way to embark on an strategy that can help support your business goals? Three key imperatives can help your organization make good use of this powerful capability.
1. Know the business problems you’re targeting with
Much of the focus of has been on software development tools that can create sophisticated models. While it is important that developers understand how to build systems and applications, identifying the starting point and the business problem you’re trying to solve is critical.
Why is your organization focused on leveraging ? There will be both short-term and long-term goals. In the short term, you may want to automate a process where you already have a solid understanding of the business problem and the associated data. Long term, you may want to leverage complex data and knowledge to support strategic business strategy.
2. Create hybrid teams of business and technical professionals
A common mistake that many businesses make is to begin the journey by hiring a team of data scientists. However, to gain the greatest benefit from , you also need business experts who understand business processes and the important knowledge that differentiates your company from competitors. These professionals should understand both business strategy and the underlying knowledge that drives differentiation.
In addition, your team should include data professionals who understand the data within your company. This data is stored in databases, in customer-facing and partner-facing applications.
Creating a team composed of data scientists, knowledge experts, and data experts will help you prepare to leverage the sophistication of to gain a competitive advantage. You also need a team leader who has a level of understanding of all these roles. […]
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