Problem statement

The world is filled with entrepreneurial opportunities. As an entrepreneur, you lay the foundation for a solution. It’s to meet an identified need. This applies to both public and private institutions.

However, competition has grown in the past ten years. It has shifted from project-based silos. These silos were sometimes within the same organization. Now, they are collaborative models within and between organizations. This shift is driven by increasingly sophisticated technology. It is pressuring organizations to become competitive.

At first, people tend to work alone and make things within things. This creates a wall of interference and data loss. It might even risk data security.

The second approach is based on the ability of entrepreneurs to adapt to the models of collaboration. They do this through better performance: evaluation, de-risking, and using each other’s experience instead of reinventing the wheel. The project will speed up. It will reduce risks and finish faster. It will be more competitive. It will use cutting-edge models. It will adapt to micro and macro economics and more.

Winning in the industry is not just about having the right idea, skills, and structure. It is also about having valuable and relevant information for each function. Data is the key for running a business. It includes operational results, like production capacity. It also includes decision-making support, such as for projects and budgets. You also need good tools for measuring, evaluating, and monitoring. Otherwise, they can cause production disasters. Thus, data is, to some extent, equally important as the core business model.