Organizations worldwide are facing a daunting array of views and claims about the power and peril of Big Data. On one hand, the ability to collect, manage and analyze data can lead to better business decisions and a lasting competitive advantage. On the other hand, finding value in all that data is a challenge unlike any organization has traditionally faced.
In turning to KPMG to cut through complexity, businesses and governments are able to identify and solve some of their biggest D&A challenges.
In this information-driven age of structured and unstructured data, leaders must take a 360-degree view of the extraordinary volume of data available – historic, current and predictive – so they can extract what they need as well as discover what they don’t yet know they need.
Organizations seeking a competitive advantage want to enable, learn from and use data to make better business decisions, grow revenue, optimize operational capabilities, and manage enterprise risks and compliance mandates. By putting the needs of decision makers above the requirements of existing processes, leaders will be in a better position to know what information they need to identify, enable and realize business value.
Organizations that devote the right resources to performing analytics on relevant data will benefit from an informed perspective that will help them make better business decisions and, ultimately, achieve the measurable outcomes they want. Data becomes a valuable asset when it can be transformed into actionable information.
An information-centric organization needs an information-driven mindset – from the top down. That means employees must be managed, measured and compensated based on how well they use data to make decisions and drive business outcomes. New ways of running the information-centric businesses of tomorrow will require new organizational models. Formal change management efforts will be needed to create a high-performance culture prepared for the organizational implications of new skills, capabilities and infrastructure.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.