First published in PM Forum Magazine, Totum consultant Jennifer Owen talks to Matt Stevens at Dentons and Steve Carlton at Slaughter and May about how they are using data to unlock intelligence.

“The challenge in the future is that there is so much data available now that a key part of these roles will be working out what are the important things to measure.” Matt Stevens, Dentons 

Today’s explosion in data, together with the rise of artificial intelligence (AI) and machine learning, presents professional services firms with a complex but enticing challenge. Embrace the opportunity to bring together a mass of internal and external data, leverage it effectively and the benefits may be manifold. Enhanced client relationships, new lines of business and service capabilities, internal process improvements and cost efficiencies, better resource management, improved business decision-making… the list goes on.

But data can also be misleading, misdirected, or plain wrong. As the old saying goes: ‘garbage in, garbage out’. And without the human interaction that translates good data into relevant insights, presented in a timely and meaningful way to the right audience, the output will be ignored. Figures without narrative context are soon forgotten – we are, after all, still storytellers.

No wonder then, that at Totum we have seen a growing interest in roles focused on digital transformation and data analysis, research and insights. Their growth reflects today’s fiercely competitive business landscape, one in which success hinges on informed decision-making.

Indeed, in our view, the BD and marketing function will be an increasingly critical hub for firms to translate an avalanche of data into actionable insights. With this in mind, we spoke to two professionals whose roles showcase the pivotal position of BD and marketing in the fast-evolving landscape of data, insights and digitalisation.

To read the full discussion as first seen in PM Forum Magazine, including key takeaways from Matt Stevens at Dentons and Steve Carlton at Slaughter and May, click here.