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3 data-driven megatrends that lead the way to growth
01 Oct 2019
The data-driven business of tomorrow will be shaped by multiple paradigm shifts. Here are three megatrends to keep an eye on — and the solutions that help you prepare for them today.
1. Going digital to drive growth
For any business that wants to thrive in a data-driven future, digitalization is a megatrend that simply cannot be ignored. It has already had a massive impact on the economy, and this will only escalate going forward. No matter what industry you are in, it is imperative to identify aspects of your operations that can be enhanced through digital processes. It might be getting a more detailed view of your customer base, adopting cloud solutions, or gleaning completely new insights from big data through machine learning.
Digital transformation is a complex and time-consuming process, but the earlier you embrace it, the earlier you can start reaping the rewards.
2. Data for Compliance
Stricter regulations, including GDPR, put greater pressure on compliance experts. This is another area where smart data will play an increasingly important part. Having access to wide-ranging information about your customers and business partners is crucial in order to ensure compliance. AI-driven tools that can sift through vast amounts of data make it easier to verify that you are only using this data in a way that is completely compliant. This will both reduce the workload of your own staff, and make customers more willing to entrust you with their data.
3. The new era of Digital Automation
Digital automation is a huge opportunity for businesses, but it is dependent on access to the right kinds (and the right amounts) of real-time data. Once you have secured this access, automating decision-making will be a major driver of growth. Letting algorithms take over menial, monotonous processes speeds them up significantly, reducing human error – and freeing up your workforce to focus on strategic and creative decisions. Assessing and mitigating risk is an area that is particularly ripe for automation, but its effect will be noticeable in many other parts of your business as well, ranging from sales and marketing to IT and inventory control.
"Dun & Bradstreet continuously develops services that challenge its customers to view each new paradigm shift as an opportunity, rather than a threat."