There are advocates of digital transformation who readily assert that data is the currency of the new economy. It is believed that organizations that accumulate, analyze, interpret, and capitalize on data will gain a competitive advantage over those that merely follow trends blindly.
The finest and the brightest are distinguished from the rest of the workforce by their proficiency in data analytics. KPMG’s research indicates that data scientists are expected to be the highest-earning professionals in the finance sector by 2030.
Disruption is driven by data, so it is simple to observe companies fixating on numbers, quantifying business operations, and initiating analytics initiatives without initially establishing their objectives.
However, is this fixation on data the sole method of expediting digital transformation? Not quite, according to a recent study conducted by Accenture on the C-suite.
A “more human-centered” strategy should be employed in conjunction with advanced analytics at the enterprise level to fully realize the potential of employees and executives.
Analysts from Accenture stated that the current business environment necessitates a “whole-brain” approach, emphasizing the importance of both the scientific (‘left brain’) and humanistic (‘right brain’) components of leadership.
The research revealed that an astonishing 89% of C-level executives have received formal training in “left-directed” disciplines. However, it is unsurprising that 65% of these leaders regard their greatest shortcoming as a “right brain” skill, including empathy, self-awareness, intuition, and vigilance to their surroundings.
The analysts stated that paradigm paralysis, which is the incapacity or refusal to see beyond the current models of thinking, is frequently the most significant obstacle to a paradigm shift.
C-suite executives are anticipated to “rapidly acquire whole-brain leaders and change the DNA from top to bottom” in response to the increasing demand for a more holistic approach to leadership.
Accenture stated, “There is evidence that a conscious shift is underway.”
Although only 8% of organizations currently employ a “whole-brain” approach, 82% are purportedly planning to adopt it within the next three years.
