TECHNOLOGY
Driving
Digital Transformation with Data Analytics
DATA : THE LIFEBLOOD OF DIGITAL DIGITAL TRANSFORMATION “ Data is the lifeblood of digital transformation ; however we need the analytics – such as algorithms , optimisation and simulation models – to generate insights and value ,” comments Daniel Küpper , Managing Director and Partner , and Stephan Bloempott , Project Leader at Boston Consulting Group ( BCG ).
“ Data is the main enabler of digital transformation ,” agrees Betti , “ when you look at the fourth industrial revolution more broadly , most of the new applications that we are seeing are powered and enabled by data . So in answer to the question : how important is data ? I think it is key , but at the same time it ’ s the elephant in the room . We survey on a regular basis chief operating officers ( COOs ), and what we have realised is that there are very few companies that are really able to get new value out of the data they are collecting .”
While there have been large investments made in technology that helps to capture data , Betti notes that “ there are several roadblocks when it comes to making sense out of that data . So this is why data applications are extremely exciting and important .” In agreement with Betti Memia Fendri Project Specialist , Advanced Manufacturing , World Economic Forum ( WEF ) adds “ all the applications from the fourth industrial revolution rely on data . So it really is the lifeblood of digital transformation , whether it ' s to increase efficiency , to empower the workforce to work more effectively , or dissipate any future disruptions and mitigate risks .”
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