By Sara Brown | MIT Ideas Made to Matter | March 3, 2021
Data is everywhere, and many companies are looking for their analytics edge — wondering whether they’ve got the right approach and how they can do better.
Some of these stories from MIT Sloan take a close look at broad issues facing business leaders, like how to build or maintain a data culture and a strong data team and how chief data officers can be successful. Others take a closer look at key parts of data analytics strategy, like using unstructured data and external data, and strategies for the era of big data, like data storytelling, data wrapping, and talent analytics.
Where to start: Build a data culture and data team
Startups and newer companies often have an advantage because they’ve built data into the framework of their organizations. Many startups find success when they have information unique to their industry and use analytics to interpret and deploy that data in strategic ways. Here’s a look at how several startups baked analytics into their core business strategy.
Other companies looking to capitalize on data have to work at overcoming reluctance and changing culture. In this story about how to become a data-driven company, experts focus on creating a data culture, including embracing technology, disrupting the status quo, and incorporating data into every part of the organization.
Data is the new language of business, and data literacy is one of the keys to building a data-driven company. What does that look like? Experts offer eight steps to boosting data literacy in your company.