From Data To Profit

CHAPTER 9Data—The Business's Hidden Giant

The modern competitive marketplace hasn't seen the bigger data picture yet, but it has awakened to the realization that there is a much bigger data picture to be uncovered. Workflow mapping is where I'll open the next layer of this onion, but let's spend a moment thinking about something before we move on. Data is being generated all the time by the systems that surround us.

The amount of data exchanged between a breeze and a tree moved by it is astounding. That is a simple system we can observe and make immediate high-level sense of. The movement of branches doesn't seem very mysterious until you're tasked with predicting which way a branch will move next. Then the enormity of the data-generating power of trees in the breeze hits home. Businesses are hundreds of times more complex than a tree, and the breezes they move in are too.

Few parts of the business operate transparently. Most work is done in the dark. Most customer value is delivered without a trace. The majority of a business's internal and external workflows are opaque. That's a huge risk and opportunity for modern businesses.

Does the Business Really Understand Itself?

Most businesses don't understand their business and operating models. There's a firmly held belief that they do. Ask C-level leaders how well they understand their business, and you'll get a resounding, “Exceptionally well!” Ask more granular questions, and the cracks begin to expose themselves.

A customer ...