If it is not new that technology has been playing an increasingly important role for organizations over the past few years, 2020 has come to prove how synonymous it is with agility, efficiency and flexibility. Highly challenging at all levels, 2020 highlighted and emphasised technology as an essential part of the solution for finding new ways of working and doing business.
Companies reinvented themselves, remote working dictated the new workflow dynamics, and consumers changed their habits, gaining online eCommerce more expression. Remote working, e-commerce and digital tools have reached new importance and, if there were sectors and companies with higher digital maturity and whose adaptation to the new reality turned out to be simpler, many organizations had to look at technology as a necessary investment for the survival of their business in a scenario marked by uncertainty.
More than 4.5 billion people use the internet today, and social media users have now exceeded 3.8 billion, with almost 60% of the world’s population being online. In 2020, to get an idea, 347,000 new stories were published on Instagram every minute, 147,000 photos on Facebook and 41 million messages were exchanged on WhatsApp.
These facts attend to illustrate the amount of data that circulates globally, data that represent diverse opportunities, and challenges for companies that transform it into value and put it at the service of their business. At such a critical time, data undoubtedly assume a sovereign role in the business strategies of organizations and the creation of important decision support insights.
A correct, accurate and secure data analytics makes it possible to obtain a transversal view of the company, the sector, the market and the customer. Predictive analytics is directly reflected in the development of intelligent strategies, in the minimisation of errors, in the customised products and services creation, in the mapping of new business opportunities and exclusive competitive advantages.
In the current framework of action by organizations, the reformulation and reorganisation of strategies, cost reduction, and the creation of more targeted and profitable products and services are themes that have become a priority.
This reality further highlights the role of Data Analytics and Artificial Intelligence solutions, as they enable higher assertiveness when making decisions, an improvement in efficiency and business performance, optimisation and streamlining of processes and operations, as well as the preparation for the development of excellent customer service.
With a technological solution adapted to the real needs of the company, it becomes more flexible, profitable and versatile, achieving a differentiating market position and better performance.
Data sovereignty is now unquestionable and represents an effective bridge for creating winning business strategies. Data-driven companies are agile companies, capable and prepared to respond to the current market challenges and to outline a path of leadership to face those who are coming. And is your organization prepared for the future?
Opinion article published in Link to Leaders – March, 2021