We know who’s winning the data game: companies like Google, Amazon, Facebook, Apple are not hard to name drop. They have the finance, technology, and momentum to capitalize on their data and led the way to a new data-based economy.
But what can mid-sized companies learn from the way they use data? What do companies like these have in common when it comes to building their own thriving data economies?
Four Qualities of Successful Data Innovators
Commitment to invest in its data ecosystem. Before you can see returns, or even explore potential, it starts with the decision to take your data seriously. Not just in terms of locking it down with a new firewall, but making its value accessible to your team.
A team with a shared understanding of the data’s value. Successful innovators do not work alone. Building an understanding of data’s value across your organization—and your board—is vital. Shared basic data literacy is important as well. If you’re going to innovate together, you need to be able to communicate.
Access to vital tech and partnerships. It’s a common saying: All companies will be data companies, eventually. But to get there, you’ll need the right partnerships and technologies to put the latest in machine learning and A.I. to use.
A culture of innovation. Even with the latest tech, a successful innovation strategy must include a cultural component. Bring your leadership team on board, educate your senior staff, and bring data out of the I.T. Department. Your best employees will reward you with new ideas for putting data to use.
There’s no reason to go it alone. Start today with the help of Trovo’s customized support, emerging tech, and scalable data science. Start now.