This wealth of big data holds vital nuggets of information about business processes and practices, customer behaviours, as well as billing errors and leakages – information that is crucial for any corporation to have at its fingertips.
This is the operating environment that Warren Bennis and Burt Nanus first alluded to in 1985 and to which the United States Army later attached the acronym VUCA. This unpredictable and fast-changing operating environment is, in and of itself, a challenge for businesses, but this reality is being compounded by a widespread and relentless digital revolution, which is transforming corporate entities into increasingly complicated institutions comprising multiple inputs and divisions, all managed by an ever-expanding array of software programs.