As access to data grows at an ever-increasing pace, the ability to quickly transform information into relevant and reliable insights is becoming a crucial competitive advantage. It is precisely this ability that sets apart the companies that succeed with AI initiatives and data-driven decisions from those that are falling behind.
With more data come more challenges
Today, the problem is not the lack of data, but rather a lack of control and structure. In the past, companies could make decisions based on historical reports, but in today’s world, data is generated and updated in real time. This opens up new opportunities for innovation and faster decision-making, but also induces several challenges. The real value lies not in accumulating as much data as possible, but in being able to identify the right data or data with high fidelity and use it strategically.
We will see many AI projects fail precisely because the data is not of a sufficiently high quality.
– Niklas Thulin, Commercial Director, Epical
Success requires a deliberate strategy that focuses on ensuring data quality, breaking down silos and establishing a shared understanding of which data is business-critical.
Break down silos and create a unified whole
To succeed with data-driven development, companies need to take control of how data is collected and used within the organization. A key part of this work is data democratization, which involves breaking down organizational silos and creating a shared view of the business’s data.
– You have to break down silos and start sharing data horizontally, says Niklas Thulin, Commercial Director at Epical. – In Sweden, we are generally poor at collaboration between departments. Almost everyone focuses solely on their own area. We help companies gain a holistic view and collect the right data from the right places.
By working cross-functionally and making relevant data available to more parts of the organization, a strong foundation is created for both sustainable AI initiatives and better data-driven decisions.
Epical helps you make your data visible and usable
Having access to the right data is just the start. Epical offers data visualisation and reporting solutions that enable the value of the data to reach more people within the organisation.
– For us, it’s about showcasing the value of the data you have in the best possible way to as many people as possible, explains Niklas Thulin. – When more people can access the data, the opportunity to make smart decisions also increases.
There is enormous potential in an organisation’s data. With the right strategy, the right technology and a holistic approach, companies can unlock value that would otherwise risk remaining untapped.
– We make it possible to understand and act on the data – together, concludes Niklas Thulin.
