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Abstract
Data remains one of our most abundant yet underutilized resources. This article provides a holistic framework that will help companies maximize this resource. Outlines the elements necessary to transform data into knowledge and then into business results. Managers must understand that human elements - strategy, skills, culture - need to be attended to along with technology. Examines the experiences of over 20 companies that were successful in their data-to-knowledge efforts. Identifies the critical success factors that must be present in any data to knowledge initiative and offers advice for companies seeking to build a robust analytic capability.
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Abstract
Data remains one of our most abundant yet underutilized resources. This article provides a holistic framework that will help companies maximize this resource. Outlines the elements necessary to transform data into knowledge and then into business results. Managers must understand that human elements - strategy, skills, culture - need to be attended to along with technology. Examines the experiences of over 20 companies that were successful in their data-to-knowledge efforts. Identifies the critical success factors that must be present in any data to knowledge initiative and offers advice for companies seeking to build a robust analytic capability.