[ESSEC Knowledge] by Jeroen Rombouts - Professor at ESSEC Business School

Article written with Gérard Guinamand, CEO DATatSCALE

What has changed in data recently?

In recent years, companies have become increasingly aware of the potential of technological advances such as connected objects, and analytics platforms, which now function in real-time for decision-making. In addition, companies are open to ecosystems of partners including suppliers, customers, and even competitors. Jeroen Rombouts, professor of statistics and econometrics at ESSEC Business School and Chair of the Accenture Strategic Business Analytics Chair, and Gérard Guinamand, CEO of DATAtScale and former Chief Data Officer at ENGIE, share their insights.

Given our experience as Chief Data Officer and the handling of many use cases over the last five years, we identify what makes data initiatives successful. 

A common element of these advances is the role of data: generated and used at lightning speed, this data can now be sold or shared between companies. Not just that: data analysis is a huge value add for these companies. Given the significant investments involved, companies are now increasingly interested in highlighting the value generated by these data and analytics efforts. 

CEOs and company boards are now convinced that this data adds significant value to  their organization. In addition to its use for managing KPIs, senior management understands that data can be a source of revenue thanks to new products and services. Data can also be an accelerator of operational excellence by offering new performance levers: predictive maintenance of industrial assets and process automation. In addition, CEOs also see data as an opportunity to reduce commercial, industrial, and regulatory risk.

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