Many companies seek to undergo digital transformations to stay competitive in today’s data-driven world. Due to limited time, the difficulty of the transformation, and the amount of effort needed, 70% of digital transformations often fail.
From introducing hardcore data science knowledge to applying in daily working process, then finally transforming the entire workforce, Ali Tore, VP of strategy at Alteryx, shared his secret formula to up-skill and re-skill his team to achieve digital transformation, resulting in a gain of that competitive advantage. a successful digital transformation and gain that competitive advantage.
Data, Data on Board, Do We Get the Best Insights of Them All?
Unfortunately, not really. The main issue that companies were facing was that they only looked at data to report things that have already happened. No steps were taken to spot patterns and discover a way to make predictions for the future. However, as technological advances started coming about, looking at data to simply explain behaviour patterns was not enough.
Equipped with the data and the dash-boarding, companies began introducing algorithms and advanced analytical skills into their processes, but that still was not helpful enough.
Because the simple automation of tasks, processes and algorithms alone did not bring the results and ROI they were looking for, Tore stated this common tactic used by companies could block the whole digital transformation process.
The Innovative: Let’s Democratize Analytics
Tore further explained that what a company needed was an approach that could encompass the convergence of analytics, processes, people, and most importantly, with the people aspect at the core of the process.
Let’s get a deep dive here: Analytics is an umbrella term used for everything from advanced analytics, AI, and machine learning. Taking that and combining it with the business processes that have to link these different functions together across the organizations, employees can then use valuable knowledge extracted from these processes and develop groundbreaking insights that can give their company a significant competitive advantage. All members of the organization should be able to come together, spread knowledge and information that was never previously acquired, and discuss data and analytics to yield comprehensive and well-rounded results.
“It’s really all about democratizing analytics across organizations so you can draw change,” said Tore.
Once all these elements of technology, data, and the knowledge that workers acquire are brought together, employees can thrive, innovate, and find new ways of driving this analytics process for the enterprise.
With the rise of the many learning tools and platforms teaching what ranges from feature engineering to automated machine learning, employees have the chance to efficiently and effectively educate themselves about data science. Understanding data and what to do with it has become a crucial asset for innovation and advancement, whether you are a financial analyst or a plant engineer, and is one of the key ways to achieve digital transformation.
“This is the new innovative way; you are now tapping into the expertise of the plant engineer and the analyst to be able to do things they couldn’t do before, because they can,” said Tore.
Text: [Huda Hafez]