That's the prediction by IDC for how much data (structured and unstructured) in the world by 2025 (estimates are 44 ZB in 2020). It's probably safe to assume that in four years, there will be yet another mind-blowing estimate of the continued growth of data.
Business need to control the data they generate AND be able to mine that data for actionable information. Software tools such as process mining and artificial intelligence will be key to extracting value from this obscenely huge volume of information. The companies that do this better than their competitors will win.
Two of our five articles today take a look at extracting value from data, especially unstructured data.
However, we begin today’s list with an admittedly self-interested item.
Process Excellence During COVID Recovery
This joint webinar by us and Celonis will provide actionable insights into process excellence strategies.
Here’s what you will learn:
- How to gain an outcome-based perspective of your processes
- How organizations can move from basic process discovery to AI-enhanced processes
- How to embrace new technologies in order to revolutionize your business processes and achieve process excellence
Join us (Marty Pavlik, Practice Leader, will be presenting) on Tuesday, June 29, at 2 PM ET.
Hitting the Gas on Digital Transformation
It’s impossible to read an IT publication and not see the phrase “digital transformation.” This short article does a good job of placing digital transformation in context and makes the point that just because you roll out digital tools, doesn’t mean you’ve digitally transformed your company.
This link is to the entire magazine, but should open on the correct page to read this article, click here to read the article now.
Unleashing the Real Power of Data
While a little older than most of the articles we like to reference for these posts, this article from Forbes does two useful things:
- Punctures the “data as oil” analogy, which is overly simplistic and limiting
- Points out that while companies focus on data, they continue to ignore the value in unstructured data (which is 80% of data in an organization)
Tapping the Power of Unstructured Data
This article from MIT’s Sloan School goes into some detail about how a few companies are harnessing unstructured data to sell as services to other companies in their industry. While light on specifics, hopefully this article can inspire you to stop looking at unstructured data as a problem and instead view it as an opportunity.
Planes Are Made to Fly – Lufthansa and Improved Processes
How to drive customer experience, operational efficiency, and sustainability with insight-driven process analytics. This interesting overview of how Lufthansa:
"has built a thriving Center of Excellence (COE) that uses process analytics and Execution Management to transform essential corporate processes that drive the company’s commitment to sustainability. The COE ensures that Lufthansa’s aircraft fleet does what it’s supposed to do: namely, stay in the air as much as possible. After all, planes are meant to fly. However, that’s often easier said than done — especially during a worldwide pandemic. Yet, Lufthansa is making progress anyway."