It is only understandable that most corporations these days are submerged with data that forms the invaluable asset for them, which can lead them to insights worth the big bucks. It may be a good idea to think about the name Big Data which has been named so for being big in volume, but can also be correlated to Big Money when used wisely. But do all data open gates to gaining insights? Not entirely true, as data usually opens gates for obtaining more data and thus, creating opportunities to gain more insights. The main point of differentiation with data driven organizations is to put data at their focal point and use the insights derived from them to amplify their business gains with effective strategies and business decisions. Data in these companies are actually treated as valuable assets for the company, and they know how to use and protect them well. Intelligence obtained from data is embedded into their core business processes.
What differentiates the data driven companies are that they are able to achieve a sustainable competitive advantage and can deliver greater customer satisfaction to their clients. The main pillars of work is a cohesive business model with a data aware culture that inspires its customer base as well employees to look through newer perspectives, challenge the status quo of their business environment, take greater risks and optimize their usage of data.
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