Dive Brief:
- Data care should be a top priority when businesses migrate workloads to the cloud, according to Ashok Srivastava, SVP and chief data officer of Intuit.
- Srivastava’s tech teams focus on use cases to ensure that the data works from an end-to-end perspective. By doing this, tech leaders can “galvanize” the company around those cases. “You have brought a tremendous amount of credibility if you’re able to succeed,” he said.
- “The No. 1 thing I would say is, don’t treat data just as data,” Srivastava said. “This is the substrate of your company.”
Dive Insight:
As quarterly earnings reports underlined, data matters. It empowers executives to make informed decisions, understand customer behavior and keep an eye on business operations.
The power of data is constantly reimagined and redefined, possibly because the amount of data keeps growing. Whether it’s yielding faster or better quality insights, data holds the throne.
Data has become interwoven in the fabric of business operations at every level. Nearly 70% of employees are expected to utilize data by 2025, close to double that of 2018.
“By owning data infrastructure — which means the strategy, the platform, how we store, manage, process, transmit data — it [powers] everything, including AI,” Srivastava said.
Intuit produces 58 billion ML predictions per day and 700 million AI-driven customer interactions per year. The company’s custom-built architecture allows data to flow through a real-time substrate that can be transmitted anywhere and to a data lake where it’s stored for future analytics and AI, according to Srivastava.
“The data strategy begins with thinking about what the customer experiences and how to capture that experience, how to understand — with permission — what they’re doing in the product and how to do what we call an instrumentation,” Srivastava said.
Data has become interwoven in the fabric of business operations at every level. Nearly 70% of employees are expected to utilize data by 2025, close to double that of 2018.
Earlier this year, nearly half of decision makers in global data, data management, data science and analytics said they increased spending on technology products or services in the past 12 months, according to Forrester data.
Due to the talent crisis, many executives are hitting roadblocks when it comes to gathering data. Data powers everything, including technology. So mismanaged data can hinder the success of AI projects and access to valuable insights.
