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Learn MoreYou can find, a lot of companies these days are investing into data & artificial Intelligence (AI). At various places, these can be called from different terms like Advance Analytics, Big Data Analytics, Data Science or machine learning but the purpose of these is more or less same and that is to provide more efficient data driven products or services to the clients and customers. An organization
See for yourself how our ERP and CRM Solutions help your business grow.
Learn MoreYou can find, a lot of companies these days are investing into data & artificial Intelligence (AI). At various places, these can be called from different terms like Advance Analytics, Big Data Analytics, Data Science or machine learning but the purpose of these is more or less same and that is to provide more efficient data driven products or services to the clients and customers. An organization needs to be smart in terms of processes and the services in this challenging competitive market which runs on digital economy. In this age, smartness in the processes and products comes through artificial intelligence.
To assess how mature an organization is on their data and AI, we must look at what actually they are doing with their data. Those companies who are not mature enough to handle may miss certain dots which connects each other to form the right team. It means, they may not hire data scientist but data engineers which results in not delivering what was expected.
Due to the enhancement in awareness of Data & AI, many organizations adopted these and started off Data and AI programs with the expectations to increase the business. Many of them may not met the set expectations and leaders of these programs were unhappy with the progress. Data and AI projects are still coming under the heading of niche Projects. All big tech giants like Amazon, Google, Apple, Facebook etc. used the altogether different strategies to gain the market dominance in their niche sectors. They worked a lot on building capacities, effective processes along with development of different products and services. Those companies who are not so well digitally equipped but established and working with digital immature team faced a lot of difficulties in this transformation. Strong determination and persistence are the important requirements from leadership position to adopt and implement Data & AI in all aspect of decision making inside any organization. This commitment usually reflects like keeping this topic into the high-level meetings like meetings of BoD, Senior Managers meetings.
It has been noticed that in some of the organizations leaders and parallels have the understanding of the importance of Data and AI but due to no or less expertise in this field they feel getting stuck. It can be considered as a positive sign and due to this many institutions (even academics) offer the training in this subject for leaders. They also provide the customized training for leaders and professionals who are highly involved in this subject.
We will see the step-by-step process to understand how can Data & AI be defined and executed
While hiring the people for business functions. Profit & Loss Centers, an organization will have to hire people who have literacy in Data. Business mostly communicates with other businesses. The AI & Data team helps to convert the business vision and goals into data requirement which helps to collect the actual required data.
After successful transition from traditional IT infrastructure to Data & AI module, the requirement of Data Science & Business Intelligence becomes inevitable. The Data Science people may have different academic backgrounds but the common will be Statistics & Econometrics background. The Data Science team helps to gather and process those data to convert it into insightful information. It is recommended that an organization must hire a Senior Data Scientist and let him/her make his own team as per the customized needs.
Data Asset Management becomes one of the important departments to handle after transition. Data Asset Management team helps all data warehouse and data in FAIR principle.
Concluding the topic, we can say that the Data & AI have the power to reduce costs, to advance the business decisions, to help different department inside the company to provide better services and to develop better products to offer. Below are some summarized steps which must need to be taken while considering Data & AI for your organization
You can find, a lot of companies these days are investing into data & artificial Intelligence (AI). At various places, these can be called from different terms like Advance Analytics, Big Data Analytics, Data Science or machine learning but the purpose of these is more or less same and that is to provide more efficient data driven products or services to the clients and customers. An organization needs to be smart in terms of processes and the services in this challenging competitive market which runs on digital economy. In this age, smartness in the processes and products comes through artificial intelligence.
To assess how mature an organization is on their data and AI, we must look at what actually they are doing with their data. Those companies who are not mature enough to handle may miss certain dots which connects each other to form the right team. It means, they may not hire data scientist but data engineers which results in not delivering what was expected.
Due to the enhancement in awareness of Data & AI, many organizations adopted these and started off Data and AI programs with the expectations to increase the business. Many of them may not met the set expectations and leaders of these programs were unhappy with the progress. Data and AI projects are still coming under the heading of niche Projects. All big tech giants like Amazon, Google, Apple, Facebook etc. used the altogether different strategies to gain the market dominance in their niche sectors. They worked a lot on building capacities, effective processes along with development of different products and services. Those companies who are not so well digitally equipped but established and working with digital immature team faced a lot of difficulties in this transformation. Strong determination and persistence are the important requirements from leadership position to adopt and implement Data & AI in all aspect of decision making inside any organization. This commitment usually reflects like keeping this topic into the high-level meetings like meetings of BoD, Senior Managers meetings.
It has been noticed that in some of the organizations leaders and parallels have the understanding of the importance of Data and AI but due to no or less expertise in this field they feel getting stuck. It can be considered as a positive sign and due to this many institutions (even academics) offer the training in this subject for leaders. They also provide the customized training for leaders and professionals who are highly involved in this subject.
We will see the step-by-step process to understand how can Data & AI be defined and executed
While hiring the people for business functions. Profit & Loss Centers, an organization will have to hire people who have literacy in Data. Business mostly communicates with other businesses. The AI & Data team helps to convert the business vision and goals into data requirement which helps to collect the actual required data.
After successful transition from traditional IT infrastructure to Data & AI module, the requirement of Data Science & Business Intelligence becomes inevitable. The Data Science people may have different academic backgrounds but the common will be Statistics & Econometrics background. The Data Science team helps to gather and process those data to convert it into insightful information. It is recommended that an organization must hire a Senior Data Scientist and let him/her make his own team as per the customized needs.
Data Asset Management becomes one of the important departments to handle after transition. Data Asset Management team helps all data warehouse and data in FAIR principle.
Concluding the topic, we can say that the Data & AI have the power to reduce costs, to advance the business decisions, to help different department inside the company to provide better services and to develop better products to offer. Below are some summarized steps which must need to be taken while considering Data & AI for your organization
See for yourself how our ERP and CRM Solutions help your business grow.
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