I came across a great article from the Harvard Business Review. The author, Kalyan Veeramachaneni, was part of a research group at MIT trying to understand what it would take for businesses to realise the full potential of their data by using machine learning techniques.
The technology environment has changed significantly in the last decade from one of data scarcity to data overload. At the same time, business has become more complex with rapid change being embedded into social and business structures. In this context, CFO’s were starting to see the value of modern financial management systems but were slow to adopt.
Big Data has been a buzz word for several years, with the last couple of years concentrating on how to harness the power of big data. Data has shifted from being accessible to a select few to becoming a democratised asset. Every layer within an organisation needs access to enable data driven decision making resulting in increased organizational agility, responsiveness, and resilience.