Is DATA-DRIVEN Approach the New IMPERATIVE?

Do use cases need to be narratives?

Can mere narratives drive and enable transformation?

Is there a more insightful approach to transitioning to a digital world?

Is Data-Driven use case approach the new imperative?

Business use cases as we know today are mostly narratives. Well, some of you would endorse that narratives are a time-tested and proven approach to look at a problem but then there are others who would agree that embarking on a customer journey actually begins with being able to visualise the problem, assimilate facts and then simulate the problem with real-life parameters in order to determine the outcome and measure the impact.

In today’s uncertain times when Speed-to-Market overrides Go-To-Market mantra we are more time-pressed than ever to be more relevant and closer to the customer problem. Hence it is even more critical to be able to visualise the current on-the-ground situation with “as-is” data points and simulate scenarios using the same data points to determine the impact on the desired areas -be it for innovation, improvement and/or productivity. To achieve this we often leverage predictive modelling techniques, Artificial Intelligence and automation platforms to create simulations. But some initial groundwork needs to be in place.

It becomes necessary to carry out some prior due-diligence -like creating a sandbox for querying customer data , performing analytics and generating insights from the data provided. This would be helpful in getting familiarised with the “as-is” customer business landscape while taking the next step towards exploring and organizing “relevant” information into datasets. The outcome of this exercise is that it helps in viewing and organising data in ways where you can easily identify key data points unique to specific areas required to set the problem context and problem definition. The Ultimate Goal of a Data-Driven Approach is “Value Creation”.