Professor W. Edwards Deming famously said, “In God we trust. All others must bring data.” The point was this: don’t make decisions on a whim – use the scientific method. Form a hypothesis, set your metrics, track against them and form your conclusion. Despite the simplicity of this formula, far too many organizations make one of two costly mistakes. One, they govern their operation with gut-feelings. Rarely does a company make this mistake and survive. Secondly, they use the data they’ve collected to confirm their own biases. This isn’t automatically a fatal flaw, but it does keep companies from making the types of decisions that will help them grow.
Companies that engage in data-driven leadership are able to stay ahead of competition by having an honest snapshot of their current situation, using clear-eyed vision to achieve their goals. Their data engineers recognize trends in data-driven leadership as they emerge, not after they have been named. So with that in mind – what is the next big thing in data-driven leadership?
Many large companies are already using a multi-cloud structure for their data, and many smaller firms are beginning to adopt this structure. The issue this has presented to data engineers is that there is not a uniform analytics tool. With these structures unlikely to change due to the sheer enormity of migrating all of the data to a single cloud, data engineers have had to find clever ways of conforming the data. This requires multi-cloud support so that analysis can be made to serve data-driven leadership. As more organizations adopt multi-cloud structures, they will need to build in support structures in order for their data engineers to distill the information most effectively.
Data fabric has been particularly useful in aiding data-driven leadership. Data fabric is a layer built into the architecture that stretches across all of the clouds at play and maintains consistent capabilities across all chosen data points. As you can imagine, this has been a game changer and has become a major trend in data-driven leadership.
Sharing Is Caring
To quote former Raiders owner Al Davis – “Speed kills”. Applied to data-driven leadership, this means optimizing the speed at which an organization is able to intake and disseminate information. It is widely agreed that data sharing is immensely important to the success of projects and ultimately of the organization. Many organizations look to balance this with the need for security for both their own internal information as well as that of their clients.
As companies utilize and increasingly trust data fabrics over time, the speed at which they are able to recognize trends and act upon them becomes faster at each turn. Those who are working this into their infrastructure now will find themselves with an advantage over competitors playing catch-up.
Data-Driven Leadership Paving the Way
Trends in data-driven leadership have come and gone but the practice is more crucial to success than ever. In a landscape that is so reliant on technology, it is vital that companies use data to their advantage. Not only in tracking but in revealing opportunities that would have been missed had they been using a lateral strategy that data engineers can then leverage to create new business.
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