Reworked, a digital publication covering the r/evolution of work and the transformation of the workplace, recently interviewed National Data and Analytics Practice Lead Kris Moniz for his expertise in data management.
Reworked recently cited National Data and Analytics Practice Lead Kris Moniz in their article, “Disorganized Data Can Hold You Back – Here’s How to Fix It.”
According to Moniz, “data is king,” and modern businesses cannot have an effective business strategy without an effective data strategy.
“Everything we do today generates data. Have a smartwatch? You are generating data. Smart Phone? Data. Activity Monitor? Data. Buy something online? Data, Data, Data,” says Moniz. “As we all know, more of anything creates more complexity. The more data you gather, purchase or otherwise have access to as a company, the more crucial your data strategy is.”
Moniz says that data by itself is meaningless. It takes proper governance, analytic enablement and a lot of hard work to turn raw data into valuable information that can help drive the right decisions to grow a business or pivot in volatile times.
Without a solid alignment of the data strategy and the business strategy, companies risk spending precious resources refining their data in ways that generate no demonstrable business value. The sunk cost and opportunity cost compound over time as the company falls behind and the competition gets further ahead.
According to Moniz, today’s data tools are light years ahead of where they were at the turn of the century, both in terms of capability and cost. “The only barrier to entry left for most organizations is the political will to finally dive into this new world of data-driven decision making and turn their business strategy into an actionable and measurable plan to drive their organization into the future,” Moniz said.
Click here to read the full article.