Truly data-driven companies are by definition less human-driven. This may sound disconcerting or frightening at first, but it is the unavoidable effect of increasing the efficiency and effectiveness of processes through data and data analysis or switching to data and analytics-driven business models. The process towards becoming a data-driven company can be described in five stages – and most companies are only at stage one today. But what is the role of us humans once we set models, algorithms and learning systems in motion to replace our slow, biased and often irrational decision-making? Artificial Intelligence is still pretty far away but examples of machines making operational decisions show what is possible: processes and decisions in price setting, advertisement selection, next best action definition, market trading, or written customer interaction can be based on data and analytics-driven decision models without human participation – and leading companies are already doing exactly that today.
The presentation will examine this evolution of the organization in five relevant fields of action – from strategy and culture to technology. A redefinition of the future role of human decision-making has to be addressed in this process – bringing with it golden opportunities but also major challenges to overcome. But only by actively taking on this task will organizations be able to successfully embark on a journey towards a data-driven future.