The 3 keys for success in data analytics
Earlier in 2021, Azkmedia published an interview with renowned data and AI specialist, Dr. Alex Antic from ANU (Australian National University). In it, he refers to the common mistakes organisations make when attempting to scale and in the answer he mentions that without the 3 key pillars of data, technology and people it will be very hard to do so. The article in question is here: https://www.azkmedia.com/post/dr-alex-antic-on-scaling-a-business-through-data-and-analytics.
My take on this is one of wholehearted agreement. Not only that, I think that you need all 3 things to be working well to achieve transformation and growth. There are many articles that talk about what happens when all 3 are humming along nicely, but what about when only 1 or 2 things are? We explore that below.
People + Technology = may have a passionate organisation willing to get things done using the latest tech but without good data its a case of garbage in / garbage out
People + Data = you have SMEs and experts in their field but they are stuck in the world of manual labour and taking long to get things done. What takes seconds and minutes with technology can take hours and days with people
Data + Technology = may have good data and good technology but without the experts to know what to do with either it becomes a wasted set of resources.
All alone on their own
Good data - no people to know about it, no tech to use it
Good tech - this is like having a sportscar but you only use it to drive up and down the driveway
Good people - knowledge experts who know there is something better but can't do anything about it
All together = harmony
The people aspect here means that those who know the data are working with those who know the tech (ands sometimes they're the same). These people have access to great data from their own transactions as well as 3rd party information. They can also harness that data thanks to great techology
Where do you and your organisation fit in the above scenarios? If you want help getting better at any of these, feel free to get in touch at firstname.lastname@example.org