Boards-of-Directors - Data & Analytics

Boards of Directors have spoken! What challenges will data and analytics leaders face?

By Andrej Hudoklin, Executive Head of Data and AI: Europe

From accelerating digital business to much-needed cultural changes, data and analytics will face serious challenges in 2021. Given that every digital business moment is powered by, or held hostage to, data and analytics, it is no wonder that chronic issues have become more acute.

3 Trends that will impact data and analytics leaders in 2021:

The Heat Is On – Boards of Directors Place analytics and AI as the No.1 and No. 2 Priorities

*The Heat Is On – Boards of Directors Place analytics and AI as the No.1 and No. 2 Priorities; source: https://www.gartner.com/en/publications/data-analytics-top-priorities-for-it-leadership-vision-2021

  • Chief Data Officer will embed data and analytics in business strategy. They are responsible for guiding decision-makers within an organisation using data insights.
  • Data literacy increases. It is about developing a common understanding of what goals and outcomes are important across the organisation.
  • Data and Analytics will change management. You must base your data and analytics organisation on collaboration, cooperation, and problem-solving. Let us spread the word about how data and analytics can help drive business outcomes.

Data and analytics leaders will face many challenges in 2021, such as embedding data and analytics into business results and addressing perceptions of data and analytics within the organisation.

The best actions for data and analytics leaders are to create a data-driven culture, develop a data and analytics strategy, and stand up a data governance program. They must implement adaptive data and analytics governance. Adaptive data and analytics differ from traditional approaches that tended to be IT-driven and focused on data and standards. Adaptive governance uses business outcomes to prioritise the work and helps you govern the least amount of data with the greatest business impact.

Leaders must answer 4 crucial questions:

  1. Build a data and analytics strategy and operating model that can support and scale, with a measurable business impact?
  2. Apply trusted data and analytics in their decision-making?
  3. Create a business case to support data and analytics monetisation and innovation?
  4. Develop a data and analytics-driven culture, literacy, and employee behaviour?

So, the heat is on. According to Gartner, the top game-changer technologies to emerge stronger from the COVID-19 crisis are Analytics, Artificial Intelligence and Autonomous Things.

Leading in 2021 will look different from leadership in 2020, but understanding and planning for unknowns and continued disruption across the IT organisation is critical for moving forward.

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