Insights from Council Discovery Workshop

The insights shared in this industry report follow from CIOAA’s 1st Discovery Workshop, held on 5 March 2021, 4.30 PM

We live in the age of data deluge. Today, businesses are inundated with data from all kinds of sources: customers, social, internal and.   external users. When organisations sit on such huge amounts of data, there is pressure to use insights gleaned from data to improve business performance. And herein lies the big challenge: how to derive the maximum value out of data?

The value of data lies in its processing and how it answers business questions. While the promise and business value of data is extremely important in a world where insight-driven organisations are embracing new technologies such as Smart cloud, IoT, and 5G, it comes with its own set of complex challenges.

When it comes to data analysis, businesses face four main challenges:

1. How to prepare accurate and usable data from disparate data sources?
2. How to build relevant skills & expertise for an insights driven organisation?
3. How to modernise data management architecture to support new and existing data workloads?
4. How to democratise data accessibility to business users?

In this report, we explore these four data-related challenges manifest in organisations, and the kind of people, process and technology issues that CIOs face in their quest to analyse data. Moreover, we will also discuss key action points to improve outcomes and overcome limitations in extracting business value from data…

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