Breaking the 3-year curse: How Chief Data Officers can thrive in a rapidly changing data landscape
In today’s fast-paced business environment, data is often compared to the lifeblood of modern organisations—a vital resource that, when properly circulated, can invigorate innovation and drive competitive advantage. Enter the Chief Data Officer (CDO), the executive tasked with turning this potential into reality. Yet, despite the rising prominence of the CDO role, many find themselves in the hot seat for only a short period, with an average tenure of just 2.5 to 3 years.
Why is this the case?
The truth is that the[…]
THE HIDDEN COSTS OF TECHNICAL DEBT
The term “technical debt” first arose in the domain of software development. It was coined by Ward Cunningham, one of the pioneers of software development and a co-creator of the Agile Manifesto, in the early 1990s. Cunningham used the metaphor of technical debt to describe the long-term costs of taking shortcuts in software design and development. These shortcuts might lead to faster delivery in the short-term but accumulate “debt” that must be “paid back” through refactoring, debugging, or rewriting code in the[…]
MOVING BEYOND SPREADSHEETS: The Key To Modern Data Management
We all love our spreadsheets and there’s no doubt they have their place, but in today’s fast paced business environment, reliance on spreadsheets for data input can be a significant bottleneck. While spreadsheets are versatile and familiar, they pose risks related to data accuracy, security and efficiency. This is particularly important for businesses looking to adopt AI, as accurate and well-structured data is crucial for training and deploying these models effectively. Businesses must explore alternative strategies to streamline processes and enhance data[…]
REVVING UP DATA CULTURE: THE SYNERGY OF F1 AND DATA EXCELLENCE
What is Data Culture?
Data culture refers to the collective behaviours, attitudes and practices within an organisation that promotes and prioritises the use of data in decision-making processes. It encompasses the following aspects:
- A commitment to data-driven decision-making where employees value and trust data.
- Regular use of data analytics, tools and methodologies in everyday operations.
- The ability of employees at all levels to understand, interpret and utilise data effectively.
- Adherence to data governance policies, ensuring data quality, security and ethical usage.
- Availability and adoption of[…]
Data Management: The Biggest Blunders Companies Make When Adopting AI
Just when you thought the AI conversation had been completely exhausted another one hits your feed! But stick around for the message because the fundamentals really matter.
Maybe adopting AI solutions can be analogous to baking a cake…
At CoAcumen we are passionate about supporting businesses to adopt the fundamentals in data practices and while the topic of AI might be getting stale, the way businesses still seem to look for silver bullet solutions to sticky problems, is as[…]
Beyond the Silver Bullet: Technology Bias Hinders Real Organisational Transformation
A silver bullet refers to a direct or effortless solution to a problem that cuts through complexities and is perceived to have extreme and immediate effectiveness.
Organisations often view technology as a silver bullet for a number of reasons which can help explain why they might neglect the critical process, meta, human or cultural layers that have to be addressed as part of the implementation of technology solutions.
1. Perceived Simplicity and Quick Wins:
- Technology solutions often promise quick and tangible improvements. New software[…]
The Human Touch: Why People are Crucial in the Data Lifecycle
It’s easy to overlook the vital role that humans play in managing and deriving value from data. While technology is undoubtedly crucial, the human element remains irreplaceable throughout the data lifecycle. Let’s explore why people, particularly data owners and stakeholders, are essential in turning raw information into strategic assets.
The Data Lifecycle: More Than Just Algorithms
The data lifecycle isn’t a purely mechanical process. At every stage, human insight, decision-making, and ethics are crucial:
1. Data Creation and Acquisition: Humans decide what[…]
Understanding AI Readiness: A Guide for Businesses
Artificial Intelligence (AI) is transforming industries, driving efficiency, innovation, and competitive advantage. However, the journey towards AI adoption is not straightforward. It requires a foundation of robust data practices, governance, and security. This[…]
Accelerating Data Strategies
The Data landscape is evolving rapidly, organisations are facing unprecedented challenges and opportunities. CoAcumen reviewed the latest Couchbase CIO survey and realised that the pressing need for investment in IT modernisation, particularly in the realm of artificial intelligence (AI) and data management, is missing a strategic view on data management on a human level.
According to the survey’s findings, there is a significant uptick in IT modernisation spending,[…]
All Eyes Are on Data As ESG Reporting Becomes Mandatory
Sustainability is increasingly becoming a strategic priority as regulatory requirements for reporting on climate risks and impacts take effect. At the heart of these efforts is data management.
Increasing sustainability reporting requirements demand robust data management. The Corporate Sustainability Reporting Directive in Europe and new regulations in California, along with[…]
Avoid Metrics Replacing Strategy in Your Business
Ongoing studies into factors that influence decision-making have revealed that humans are all prone to some sort of subconscious bias. Confirmation bias, for example, is the tendency to filter and interpret information in such a way as to support an existing position or strongly held belief, even if there is evidence supporting an opposing view. The ‘illusory truth effect’ can lead some people to believe false information as being true simply because it has been heard repeatedly and they have not made[…]
Escaping Data Deluge and Enabling a Successful Data-powered Corporation
According to Forbes, “Since the day Bezos founded Amazon in 1994, it has essentially been a data-driven company that just happened to do retailing. Over that quarter-century span, Bezos built perhaps the most sophisticated and successful data-powered corporation the world has ever seen.”
Data inspires ideas, reveals problems, creates revenue opportunities and shapes every facet of the organisation, whether you believe it is “an asset”, “the new oil”, “the new currency of business” or none of the above.
Research by TRUE Global Intelligence* has[…]
High Performance Boards
Every quarter seems to usher in another story about company failure due to board, audit or governance issues.
Renowned vehicle manufacturer, Volkswagen, provides a high-profile example of corporate governance failure. In a scandal that came to be referred to as “Dieselgate” or “Emissionsgate”, in 2015 it became publicly known that VW had used software in its diesel engines to manipulate data under testing conditions in order to meet the diesel engine emission restrictions set by the United States Environmental Protection Agency.[…]
Maximising Information Technology Enablement
As technology continues advancing relentlessly, it is more important than ever to review the essential role of technology in business success and set goals and frameworks for effective digital transformation. There may have been a time when technology was somewhat mysterious and the domain of the “IT guys”, but that time has long passed and in today’s fast-paced environment everyone from the CEO down needs to be on board with the digital age.
According to McKinsey*, based on their extensive work with[…]