Analytics and Data-Driven Culture: Quantitative Models for Decision Makers

Running head: ANALYTICS & DATA-DRIVEN CULTURE1
Analytics & Data-Driven Culture: Review
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ANALYTICS & DATA-DRIVEN CULTURE

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Analytics & Data-Driven Culture: Review


In “Big Companies are Embracing Analytics,” Davenport and Bean (2018) provide an across-industry review of using data analytics methods in corporate context. The review shows a consistent, surging emphasis over years on data as key to decision-making. Interestingly, however, data analytics methods – notably, Big Data and AI – as well as data management roles
– e.g. Chief Data Officer (CDO) and Chief Information Officer (CIO) – are shown not to be enough to drive optimum value from data, let alone establish a data-driven culture. Two major reasons could be cited as to why data analytics, important and recognized as is, fails to deliver on promised value.
First, data is, essentially, a critical corporate asset. Disruptive, data is now front and center of corporate decision-making process. Understandably, data – just as much all assets are – is of little value if not properly managed. That is, despite a consistent recognition of data as central to decision-making process in corporate context, introduction of CDO and CIO roles, for example, reduces data management – and, for that matt...