Adapt or Perish: Leveraging Data to Improve Business Agility - ERP Spain.com - España y América Latina

Clive Humby, a British mathematician, originally coined the phrase "data is the new oil" in 2006, and ever since then, we have been familiar with this analogy. The idea behind the "data is the new oil" concept is that, as raw oil, raw data isn't valuable in and of itself; instead, value is generated when it is obtained thoroughly and accurately, connected to other relevant data, and done promptly. We're in a digital economy where data is more valuable than ever. Cost-effective and efficient data storage, super fast and affordable processors, plus advancements in AI and other data-centric sciences have made it possible to extract massive value out of data. It is no surprise that the most valuable companies in the world are all data-driven. They are offering top-notch services for free in exchange for some personal data. Considering this, nowadays, the "data is the new currency" concept is more precise than "the oil" analogy. How accurate is that statement, though? We will go through this by exploring how to leverage data to get the most of it and discuss the following: -Innovation: Improving customer experience with AI -Excellence: Using cloud, data and AI for better operational resilience -Frontiers: Shifting from data-driven to AI-driven business -Barriers: What are the limits and constraints on using the data