Wake Up and Smell the Data, Says Dean Freeman in WSJ
The Wall Street Journal‘s online portal “The Experts,” which features video chats and short online posts from an exclusive group of industry and thought leaders, posed this question to Allen Questrom Professor and Dean Ken Freeman: What’s preventing companies from taking full advantage of data?
Companies don’t recognize the powerful effect data can have on strategy, Freeman notes. And if they hope to compete, that needs to change.
In many companies, data is not considered a strategic resource. In these companies it has played a secondary role to products and services, and the processes and systems utilized for data collection are not linked.
Heterogeneous data that is difficult to aggregate and analyze. Establishing a comprehensive strategy that includes a robust data warehouse to harness the power of data analytics is no longer optional. It is an essential enabler of competitive advantage.
View “The Experts” post here.