Every day, there's a new statistic on the growing volume of data in the world: terabytes, petabytes, even yottabytes. Clearly the data tsunami is here. What does this mean for the enterprise?
For one, it’s going to impact how our organizations plan for the future. I recently sat down with Bhaskar Himatsingka, senior vice president of technology at Workday and an expert in business planning, to better understand the effects. He discussed how new technologies and the power of machine learning will change the way businesses plan—and help them take advantage of all that data.
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Below you’ll find a few highlights from my conversation with Himatsingka, edited for clarity. You can find our other Workday Podcasts here.
“Business planning is how organizations model what they anticipate or want their business to look like. As time progresses, you see how you're doing against what you had modeled, and then you analyze why things may or may not be different in the new remodel. It’s about helping companies turn strategies into execution.”
“One thing we love to say is everybody plans. The other thing we love to say is planning is a way to give you a 360-degree view of your organization: the past, the present, and the future.”
“In this changing world, businesses have to be agile. If you want to succeed, I would say even survive, you will be left behind if you're not agile and if you're not able to course-correct quickly.”