In today’s Tech Pulse, gain insight into how:

• Data decisions shape business outcomes, displaying how different degrees of knowns and unknowns influence strategic planning in decision-making.

• Real-time data integration and small and big tech solutions are key to enhancing supply chain resilience and operational efficiency.

• A solid data strategy is the backbone in AI implementation, addressing siloed data and quality to ensure successful deployment and scalable solutions.

Each of these articles is penned by members of Forbes Technology Council, key luminaries shaping the future of technology leadership.

Grab your coffee, and let's dive in!

Unlocking Business Insight: Leveraging Knowns & Unknowns in Decision Making

Navigating the complex business data landscape entails understanding a matrix of knowns and unknowns, essential for strategic decision-making. Stemming from ancient wisdom to modern business practices, classifying and interpreting these knowns and unknowns helps drive smarter, faster business decisions.

Key aspects of knowns and unknowns:

📘 Known-Knowns: These are clear, validated facts helping organizations make confidence-backed decisions. Businesses confirm operational safety by utilizing data like customer identities and historical behavior patterns.

🕵️ Known-Unknowns: Recognized but not fully understood, these elements often reveal threats. AI and machine learning are pivotal in transforming these into actionable insights, enhancing customer retention and optimizing selling strategies.

🔍 Unknown-Knowns: Often overlooked, these data points, when linked, unveil opportunities for upselling and customer engagement. Advanced data analytics can reveal hidden patterns, proving crucial for competitive advantage.

🌌 Unknown-Unknowns: Representing deep uncertainties and potential crises (e.g., COVID-19 impacts) require robust crisis management and predictive strategies to mitigate unforeseen disruptions.

🛠️ Handling Unknowns: Integrating and analyzing data enterprise-wide, utilizing AI, and empowering business users are key strategies for addressing unknowns effectively, maximizing decision-making, and enhancing ROI.

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Building a Resilient Supply Chain with Real-Time Data & Hybrid Tech Strategies

Supply chain resilience has become a pivotal focus for executives, especially given recent disruptions and the fast-changing market dynamics. Modern supply chains need agility and efficiency, powered by real-time data and innovative technology, to remain competitive and reliable.

Exploring the integration of modern tech in supply chains:

🌐 Real-Time Data for Enhanced Visibility: Emphasizing the shift from internal data reliance to incorporating third-party data like retailer POS systems, enhancing accuracy and responsiveness to market changes.

🛠️ Small Tech as a Strategic Solution: Implementing small tech solutions like custom dashboards provides agility, complements large-scale systems, and facilitates rapid integration of new data sources for quicker adaptability to market shifts.

🤖 Leveraging AI & GenAI: These technologies are crucial in processing and analyzing data in real time, enabling dynamic decision-making and operational adjustments that align with current market demands.

⚙️ Unified Big Tech + Small Tech Strategy: Combining robust enterprise platforms with agile small tech tools helps automate and enhance data processes, driving significant productivity and operational efficiency improvements.

📊 Operational & Strategic Benefits: Improved demand forecasting and inventory management lead to reduced operational costs, optimized workforce efficiency, and enhanced sustainability through precise alignment of production with demand.

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The MVP of AI Implementation: A Robust Data Strategy

As industries lean more heavily on data-driven decisions, a robust data strategy becomes crucial, particularly in the realm of AI projects, where challenges like siloed and poor-quality data can cripple implementation.

Ensuring data is collected and effectively integrated and utilized is paramount for enterprises aiming to leverage AI successfully.

Explore strategic elements of effective data management:

🌐 Connecting Data: Overcoming data silos through Entity Resolution (ER), which creates a 'golden record' or a unified source of truth by de-duplicating and resolving discrepancies across data entries.

🔍 Analyzing Data: Utilizing knowledge graphs to map relationships and contexts between data points, helping organizations understand complex data connections and boost contextual awareness.

🚀 Operationalizing Data: Transforming connected and analyzed data into actionable insights that can be operationalized across an organization, enhancing decision-making processes and workflow efficiency.

🌍 Democratizing Data: Employing GenAI tools to make data accessible to an organization's broader range of users, facilitating inclusive and informed decision-making across various departments.

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Wrapping Up

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