As the world becomes increasingly data-driven, it is crucial for both futurists and executives to focus on creating stakeholder value in the modern era. One of the key ways to do this is by harnessing the power of Big Data, a particularly important area that should not be overlooked by CIOs and digital executives.
When faced with challenges like unlocking the full value of data, it’s essential to rethink our perspectives and approaches to the problem. A mental model audit can help identify how we view the issue and where improvements can be made. For example, 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 can provide valuable insights into how organizations think about data.
It’s clear that there is significant value in integrating data and analytics ambitions into an enterprise’s strategy-making processes. In fact, according to Gartner Data and Analytics Summit 2024, companies who strategically 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.
