Getting the most from data requires information sharing across departmental boundaries. Even though information silos remain common, CIOs and business leaders in many organizations are cooperating to enable cross-functional data sharing to improve business process efficiencies, lower costs, reduce risks, and identify new opportunities.

 

 Why Interdisciplinary Problem-Solving May Be Overlooked?

Today's businesses are placing greater emphasis on data scientists, business analysts, and data-savvy staff members.

Some of them also employ or retain mathematicians and statisticians, although they may not have considered tapping other forms of expertise that could help enable different and perhaps more accurate forms of data analysis and new innovations.

 

 Why Interdisciplinary Problem-Solving Will Become More Common?

Despite the availability of new research methods, online communities, and social media streams, products still fail and big-name companies continue to make high-profile mistakes. They have more data available than ever before, but there may be a problem with the data, the analysis, or both. Alternatively, the outcome may fall short of what is possible.

 One mistake is failing to understand the error structure of the data. With such information, it's possible to identify missing pieces of data, what the possible courses of action are, and the risk associated with a particular strategy.