What are the steps an organisation needs to take to prepare itself to leverage the power of big data?

What are the steps an organisation needs to take to prepare itself to leverage the power of big data?

Changing the mindset: Adopting “Abundance mentality” (and abondoning scarcity mentality)
- “AI can solve all our problems” (except our “ego” and its consequences (ex: injustice, power games), but pretty much everything else)
Abundance brought by AI:
- Data is infinitely reproducible. With very strong economies of scale.
  - With the same 5000AED PC, you can check your emails only, or can build in 5 days a cross-sales system (based on pivot tables) that will bring 1 million AED annual increase in sales.
- Even Pareto analysis alone (Excel pivot table) can bring significant cost savings and revenue increases
- Payback period: Anywhere from a year to a single day. Almost never more. As of 2018, UAE. Maximum 1 year, if you are making a smart procurement.
  - Real estate investment: Max 12% annual ROI, at least 8 year payback.
  - AI investment: Min 1% annual increase in profit, Up to 30,000% annual ROI.
Consulting companies can offer zero-investment partnerships (as in energy)
Udemy & Kaggle have almost everything needed to build in-house competency over a year. Under supervision/mentorship of a good experienced data scientist.