Sage business thinkers have long espoused the value of being data-centric. Data-centric organizations demonstrate better decision making, improved customer experience, and enhanced operational efficiency.
Data-centric enterprises also stand to see higher returns with AI. In Marco Iansiti and Karim Lakhani’s book, “Competing on AI,” they argue that artificial intelligence is reinventing “the modern firm where processes are digitized and enabled by an AI factory that treats decision making as an industrial process.” The aim, they say, is an “AI factory which creates a virtuous cycle between user engagement, data collection, algorithm design, and improvement.” In this way, data is core to the future of business.