In India, competitive pressures and customer expectations are driving firms to provide personalized information, products, and services to customers and employees. Improving employee and user experiences are among the top software initiatives of Indian companies for the next 12 months.
Insights-driven companies stand a better chance to compete. Why? Because they have a better understanding of their customers’/employees’ needs and expectations. Creating an insights-driven organization requires a strong data analytics and governance practice. Forrester research shows that data analytics and data science projects have a direct impact on business outcomes. These initiatives help improve the customer experience, discover new revenue streams, and develop and deliver new products and services.
Building an insights-driven organization, however, is easier said than done. Indian companies face a wide range of challenges while building a robust insights-driven organization. These challenges include lack of mature technology around data management, lack of a well-documented data strategy, lack of proper skills to build and deploy data science/analytics solutions, questionable data quality, and lack of executive support.
Tech decision-makers in India have been focusing on improving data quality and data technologies by adopting a tool-led strategy. They need to change their approach. Tech leaders in India should look at working with relevant partners to strengthen their data science and data analytics practices. Partners can also help firm up the data strategy and deploy the latest data analytics tools and processes.
Read my latest report to learn more — here, I share the challenges that tech execs face on their journey to become insights-driven and how they should handle them.