Over the years, we have had a front-row seat to digital transformation occurring across all industries and regions around the world. And in 2020, we’ve seen that digitally transformed organizations have successfully adapted to sudden disruptions. What lies at the heart of digital transformation is also the underpinning of organizations who’ve proven most resilient during turbulent times—and that is data. Data is what enables both analytical power—analyzing the past and gaining new insights, and predictive power—predicting the future and planning ahead.
To harness the power of data, first we need to break down data silos. While not a new concept, achieving this has been a constant challenge in the history of data and analytics as its ecosystem continues to be complex and heterogeneous. We must expand beyond the traditional view that data silos are the core of the problem. The truth is, too many businesses also have silos of skills and silos of technologies, not just silos of data. And, this must be addressed holistically.