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There is a significant volume and variety of data available to Lewis Inc., but the organization currently uses only a fraction of what's available. Like
There is a significant volume and variety of data available to Lewis Inc., but the organization currently uses only a fraction of what's available. Like many organizations, it has traditionally focused on structured financial data and internally generated nonfinancial data to help make business decisions. When responding to the CEO's request for information on the types of data available across the organization, you stress the need to be targeted when collecting data to ensure that the cost and effort of cleansing, integrating, and generally making sense of the data do not outweigh the benefits any new information or insights will provide. Lewis Inc. doesn't currently have the necessary technology ecosystem to manage the huge volume and variety of raw data it has access to or staff with the right skills to make the most of what the data has to offer. As CFO, you are acutely aware of the need to come up with a long-term strategy to increase sales and improve customer experience, but championing the move to becoming a data-driven organization needs to be a joint effort between the finance, sales, IT, and manufacturing teams. You can't do it on your own, and right now you need to
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