Organizational culture can accelerate the application of analytics, amplify its power, and steer companies away from risky outcomes. Here are seven principles that underpin a healthy data culture.
Revolutions, it’s been remarked, never go backward. Nor do they advance at a constant rate. Consider the immense transformation unleashed by data analytics. By now, it’s clear the data revolution is changing businesses and industries in profound and unalterable ways.
But the changes are neither uniform nor linear, and companies’ data-analytics efforts are all over the map. McKinsey research suggests that the gap between leaders and laggards in adopting analytics, within and among industry sectors, is growing. We’re seeing the same thing on the ground. Some companies are doing amazing things; some are still struggling with the basics; and some are feeling downright overwhelmed, with executives and members of the rank and file questioning the return on data initiatives…..