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 fresh as ever. It would seem that organisations are gradually becoming aware that this new shiny technological advancement holds an elusive, unattainable quality which evokes an element of anxiety and FOMO. It need not be the case. Yes, there are some [...]

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 or systems can be marketed as ready-to-use, providing instant benefits that are easy to understand and measure. Implementing a new tool can seem like a straightforward, one-time investment compared to the ongoing, complex nature of cultural [...]

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 data to collect and how to obtain it ethically. 2. Data Storage: People determine the most appropriate and secure storage methods. 3. Data Usage: Human creativity drives the innovative ways data is analysed and applied. 4. Data [...]

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 article delves into what AI readiness means concerning data, data structure, data governance, and data security, highlighting the importance of data literacy and collaboration for achieving a workable AI solution. Data: The Lifeblood of AI Quality and Quantity: AI systems thrive on data. The more high-quality data you have, the better your AI models will perform. Quality data is accurate, complete, reliable, and relevant. It's crucial to collect a diverse range of data to ensure your AI systems can generalise well across different scenarios. Data Sources: [...]

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, with a projected increase of nearly 30% in 2024. Enterprises are keen to leverage new technologies such as AI and edge computing to enhance productivity and stay competitive in today's fast-paced business environment. However, despite the surge in investment, many organisations are ill-prepared to meet the growing data demands associated with [...]

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 the Securities and Exchange Commission's recent rules, underscore the need for effective data strategies. To integrate sustainability into strategy and comply with new requirements, companies must collect and standardize sustainability data across their operations, including supply chains. This data should be managed with the same rigor as financial data. Improving Data Quality and Accessibility for Sustainability Reporting To enhance the quality and accessibility of sustainability data, organizations must connect [...]

2024-09-18T06:21:26+02:0012 June 2024|Digital Transformation, Strategy Alignment|

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 the effort to fact check, while the ‘bandwagon effect’ is a tendency to follow what the majority are doing, even if it means suppressing niggling doubts about the direction that the bandwagon is heading in. So, it [...]

2024-09-18T06:21:34+02:0025 April 2024|Strategy Alignment|

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 revealed that 55% of an organisation's data is unquantified or untapped. The 1,300 business leaders surveyed recognize that data is key to success, now and into the future, yet very few say their organisations can successfully [...]

2024-09-18T06:21:45+02:0028 March 2024|Data Agility, Strategy Alignment|

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. In normal road use, however, diesel emissions were found to be up to 40 times above the limit. The scandal was not limited to the US and subsequent investigations revealed VW vehicles around the world had been fitted [...]

2024-09-18T06:22:12+02:0019 February 2024|Strategy Alignment|
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