An actionable insight from Harry Bowcott, a Senior Partner at McKinsey.
In a recent article Bowcott looks at some prevalent myths around the current data hype. If there's a general takeaway from this insightful article, it would be that human insights will remain the dominant source of value for the forseeable future, and that a company needs to think of the value it provides (and receives from) its employees.
Keep your head on when building out your data strategy.
"It's too easy to be dazzled by this new industrial revolution. Data analysts who obsess about predictive insights or automated processes or seamless customer experiences risk forgetting that without people to develop the technology, direct the analysis, and implement the recommendations, there won’t be any businesses to run. Data may power companies, but people drive them."
The article is framed around the travel sector, but there are some actionable insights here on the superior returns in any business leveraging human resources alone. Don't bet it all on AI. You'll get beaten.
A related article on the overhype of AI and related technologies from McKinsey here.
The Bartlett System's CEO playbook on upstream data strategy and value creation here.