essay on the topic "If trees could walk......"
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Darwin’s theory of survival of the fittest has never been more evident than in the monumental change facing businesses today. On paper it should be some of stalwarts of industry that are able to take advantage of the AI revolution, but in reality the victors will be those enterprises that are able to exploit their most valuable asset—data.
Traditional enterprises are very much like deep rooted trees. The older they are, the more firmly they are planted into their surroundings. But what if trees could simply pick up their roots and move from one place to the next? These ground-breakers would be at a distinct advantage.
It makes sense to guide a business to where conditions for growth and expansion are more favourable, and yet many enterprises remain stock-still, even when faced with adverse conditions. They see competitors break through into new markets, but consider them as flukes or anomalies. In reality, success that seems to be conjured out of thin air is actually closer to pure science, and based on data driven decision making.
For these enterprises, data provides a map. A path to lead the business into the future. Unlike the other 90% of businesses that make changes based on a hunch, they know that decisions based on data are twice as likely to succeed. Look around at the technology giants for the proof. Apple knows which apps people use the most and includes them in the next generation of devices, Google develops and tweaks its search algorithms based on users’ actions, and nobody understands your shopping cart better than Amazon.
Data de-risks their decisions and identifies their focus areas. But what if you are not a technology giant, but a bank or airline for instance?