For functions like IT or Operations, centers of excellence already have a strong track record of success. Centers of Excellence Streamline Access to ExpertiseĬenters of Excellence were designed to improve the reach of critical expertise throughout the organization, agnostic of geographical location or business unit. In 2018, McKinsey found that organizations that move top talent to high-priority initiatives quickly were 2.2X more likely to return shareholder value than their slower counterparts. Meanwhile, McKinsey found that only 20% of companies have maximized their potential and achieved advanced analytics at scale, even while most companies understand the importance.Įven beyond leading-edge technologies, access to expertise remains a challenge for enterprise leaders.
CENTER OF GRAVITY ANALYTIC SOLVER PLATFORM FULL
Gartner learned in one study that 75% of organizations will fail to achieve the full potential of the internet of things (IoT) due to lack of access to data scientists and another 80% of companies that expected to employ AI by 2019 failed for similar reasons. It is clear that organizations are failing to innovate rapidly because they lack fast access to expertise. KPMG found that 57% of CEOs are concerned that their organizations don’t have innovative processes to respond to rapid disruption, and in a separate study PwC discovered that 61% of companies say the solution to reaching strategic goals is collaborating more across functions, paired with faster decision-making. In fact, 44% of CEO’s felt their speed of technological change was insufficient, and 32% did not possess the availability of key skills.
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A recent PwC Survey found that leaders are extremely concerned about their organization’s rate of innovation. However, most organizations simply aren’t built to succeed this way.
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Those that thrive will be hyper-focused on driving value in the long term, innovating and adapting to changing conditions faster than their competitors. Today’s enterprises face unprecedented pressure from more nimble startups, volatile market trends, and a global health crisis.