Managing Data is Hard, But It's the Best Strategic Investment CXOs Can Make

Here's a sobering statistic - digital disruption is the main reason why 52% of Fortune 500 companies have disappeared since 2000. Social, Mobile, Web, and IoT technologies are generating an enormous amount of data - which is a bonanza for organizations that have the capacity and know-how to capture, cleanse, integrate, and analyze it to generate deep insights, but a challenge for those that aren't able to. Organizations that are oblivious to the enormous power of data and don't invest in data management and advanced analytics are either getting disrupted or shutting down.

Ray Wang, the author of Disrupting Digital Business: Create an Authentic Experience in the Peer-to-Peer Economy (Harvard Business Review Press, May 2015), states the following about digital disruption in an interview with Upstart Business Journal - the changes are the result of the digital business models creating disruption in the marketplace. While about 5 percent of organizations are leaders in proactively transforming their business models to adapt to the latest technologies (Microsoft, Oracle, Apple, Amazon, Facebook, and Uber among them), he says about 30 percent of companies are laggards who don’t want to change their business models. “Digital Darwinism is unkind to those who wait,” he said. “Anybody, even the smallest startup can overtake a large Fortune 500 company because it’s the non-traditional competitors that are creating new customers and new customer classes.”

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