Video produced by Steve Nathans-Kelly
While organizations have dramatically more data readily available, few are leveraging this data for true competitive advantage. In a keynote at Data Summit 2019, Oracle business strategist Lee Levitt reflected on the lack of data-driven organizations.
According to Levitt, 72% of large companies today don't have a data culture, 65% haven't created a data-driven organization, and over half don't treat data as a business asset.
DBTA’s next Data Summit conference will be held May 19-20, 2020, in Boston, with pre-conference workshops on Monday, May 18.
About 15 years ago when he was consulting at IDC, Levitt said, "one of my clients was a little hardware company—software company now—called Hewlett-Packard. And they had the largest implementation of Siebel in the world. I was talking to the guy that ran sales operations there and Olivier described to me their implementation. He said, 'By the way, the information the sales person puts into Siebel is considered a corporate asset.'"
Do you know what that means? asked Levitt. "That means if a sales person changes, or falsifies the information going into Siebel; changes, falsifies, or destroys that corporate asset, he or she can be terminated. That's how important HP 15 years ago viewed sales data. And by the way, we know how accurate sales data is even today. It's not. And over half of the organizations that Harvard Business Review looked at aren't competing on data and analytics. And Michael [Stonebraker] touched on why and I'm going to get into that as well. That's just scary! So 6 years ago we saw a snapshot that said companies that are leveraging information are a lot more successful, and, even today, that's not happening."
Many presenters have made their slide decks available on the Data Summit 2019 website at www.dbta.com/DataSummit/2019/Presentations.aspx.
To access a video of Lee Levitt's full presentation, "Information as Competitive Advantage," go to https://datasummit.brightcovegallery.com/detail/videos/data-summit-2019-keynotes/video/6040469399001/sponsored-keynote-presented-by-oracle---information-as-competitive-advantage?autoStart=true#links