Micaela

Curated Insights From The Dinner Discussion On “The Power Of The Platform”

by Micaela on July 2, 2019 No comments

How is the relationship between your technology and your data?

Last month, the Ortus Club and Domo Hong Kong hosted a dinner with the intent of answering this question. This event gathered CEOs, VIPs, directors, and other group heads for a discussion at The Hong Kong Club. The agenda was as follows:

  • What technologies, products or services do you use to improve data management?
  • How did your company transition from the use of legacy systems?
  • What were the most significant implications observed with this transition?

The following is a select overview of the ideas shared during the dinner.

 

The Primary Uses Of Data In The Workplace

The majority of the gathered executives agreed that their primary use for data is mainly for assessment and improvement of operational processes. This isn’t very surprising, as previous discussions on data have shown that companies place great care in their metrics – but it does enforce the importance of how that data is handled, collated, and reported.

In general, it seems like the trend of data usage in companies today mainly point inwards: the second avenue where data is used the most is improving the skill of the employees via testing and training. Only a very small number of companies said that their data is used to improve external processes – namely, interactions with both clients and suppliers – perhaps pointing to the trend that it’s automation, not staff, that takes care of that aspect.

 

The Role Of Legacy Systems

As a cloud-based mobile compatible data platform, Domo was curious to know how companies dealt with legacy systems when it comes to their workplace. The answers were split evenly: half the companies already transitioned from the use of outdated technology, but the other half had not.

Common reasons cited by the naysayers included that even despite knowing the importance of transitioning to a better system, their companies still lacked the resources or training required to operate them to peak efficiency. If anything, it indicates the potential of cross-collaboration between platforms that provide data management and training services with companies that are just starting to modernize their operations.

Data management in legacy systems was passable back in the day, but the companies that have transitioned out of it – or were already using them to start with – function more productively with features like cloud-based computing and real-time data management. Those that use these systems tended to devote less of their time to data collection and poured more resources into data analysis.

The Challenges Faced By Companies Moving Forward

Even with the split between the role of old tech versus new market demands, there were still some concerns about accurately leveraging data. Like previous discussions, there was an emphasis on actually translating said data into something useable and understandable: the need to bridge the gap between the technical and business side of things.

Most companies agreed that it’s this gap that makes data infinitely more valuable once crossed. The majority of companies today may switch to more efficient and modern systems for data management, but the crux of the data still lies in both analysis and reporting – a skill that has yet to solidify for many departments.

 

Conclusion

Data management relies on the collection and interpretation of raw information – something that’s made easier by moving to a modern platform that can account for and display the data required on demand, and with a reasonable margin for error. Companies today know this, and this is why their attentions are now focused inward: on the challenges faced on making that data useable, and training the people that can do so.

It is the hope of the Ortus Club and companies like Domo that by these discussions, companies will eventually be able to find a solution to leveraging data and technology. As the market grows even denser with both competition and demand, interpreting information – no matter how small – is the most likely key to a company’s success.

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MicaelaCurated Insights From The Dinner Discussion On “The Power Of The Platform”

Curated Insights On The Dinner About “The Use of Big Data to Improve the Workplace”

by Micaela on April 25, 2019 No comments

At the beginning of this month, the Ortus Club brought together a group CFOs, COOs, and CEOs in Singapore for a dinner at Artemis Grill. The agenda to discuss was simple: how can big data — specifically, the ones collected via internal study and financial metrics — affect how the company’s physical workspaces were designed.

The discussion was guided by these questions:

  • Is there an active effort being made in order to innovate the use of Big Data in your company? Is that an advantage or a disadvantage?
  • What ways can technology and big data benefit human-centric workplaces?
  • Does Big Data influence the decisions you make for your company? If yes, how so?
  • How do you see Big Data concerns shaping the way your company works in the next 5 years?
  • If you could ask one question to all participants, what would it be?

The following are select insights and discussion points from the dinner that followed.

On the innovating the use of big data and the inherent advantages and disadvantages of doing so

As a whole, most participants seemed to agree that big data should absolutely be a driving factor in how their workplaces are designed. The majority of them affirm that their companies are doing something to innovate the use of big data in their workplace and that such an approach can only be advantageous to their company’s operations.

The minority that disagreed stated that their own studies on the matter — as well the current trends in their financing — plays a bigger role than big data. Alternatively, it could also mean that their own processes for collating and analyzing the results aren’t up to par to what they want to see.

On the human-centric factor in their workplaces and big data as a driver for strategies

Many agreed that big data has definitely strengthened the human-centric factor in their workplaces. Big data has shaped how their processes, tools, and even the technology that they use in their operations work with their employees and personnel.

Big data also factored into the majority of their business decisions, with many stating that it helps to refine their core competencies, gives them a better understanding of their customers and employees, and leads to a more efficient workplace.

On the future of big data and questions they want answered

The discussion culminated in the question of how big data will impact their companies performance and strategies in the next five years. Many of them have stated that big data will be a critical component in understanding how their business metrics can be improved, or their customer profiles are more accurately gauged. In particular, these observations also focused on the different tools that can be used to interpret big data, and how can they fit in a company’s roadmap.

Some of the questions that were raised revolved around specifics: how can big data affect certain industries, how data is mined, and who can (and should) have access to this data. These questions show that even despite the proof of big data as help to companies, more study is required to properly define the tangible benefits it provides.

 

Conclusion

While big data is definitely a possible source of more information for companies on how to improve every aspect of their operations (both inside and outside the company), the meeting ultimately stressed the need to define these processes, as well as implement measurable success targets that companies can follow. Ultimately, while the human-centric factor is an essential part of optimizing any company, more study is required to fully bring out its potential.

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By submitting this form, I hereby agree and consent to being contacted by The Ortus Club regarding future events and meetings.
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MicaelaCurated Insights On The Dinner About “The Use of Big Data to Improve the Workplace”