Originally posted 18 Dec 19
Here is an excerpt:
Data Is an Asset, and It Must Have Values
Already, 22% of U.S. companies have attributed part of their profits to AI and advanced cases of (AI infused) predictive analytics.
According to a recent study SAP conducted in conjunction with the Economist’s Intelligent Unit, organizations doing the most with machine learning have experienced 43% more growth on average versus those who aren’t using AI and ML at all — or not using AI well.
One of their secrets: They treat data as an asset. The same way organizations treat inventory, fleet, and manufacturing assets.
They start with clear data governance with executive ownership and accountability (for a concrete example of how this looks, here are some principles and governance models that we at SAP apply in our daily work).
So, do treat data as an asset, because, no matter how powerful the algorithm, poor training data will limit the effectiveness of Artificial Intelligence and Predictive Analytics.
The info is here.