How data can unlock value for Nordic companies

Stockholm, March 10, 2023 – Capgemini today announced the launch of a new book that provides insights and best practices to business leaders on how to maximize technology skills and harness the power of data to make more effective decisions, transform their organization, and outperform competitors. Titled, ‘The Future of Data – How Nordic companies scale and transform with data and AI’, the book features in-depth interviews from 11 of the region’s leading companies that have seen significant progress with data, as well as research from Stockholm School of Economics and Copenhagen Business School.

According to a recent study from the Capgemini Research Institute, companies that have invested in becoming data masters[1] are seeing clear advantages; 22% of data masters are more profitable than the average organization[2]. However, only 1 in 6 companies globally are considered to be data masters as per the research. According to the new book, the gap between leaders and laggards in the Nordics, specifically, has grown significantly during the last 10 years and “traditional” Nordic companies seem to have been slow to transform using data.

The book deep dives into the performance of Nordic businesses and explores insights from world-leading researchers and experts to understand why there are differences between data-savvy/digital companies versus more “traditional” companies in the region.

“We consistently see the Nordic region rank at the top of various global indexes, including those for competitiveness, entrepreneurship, and innovation. At the same time, we know that scaling up and converting innovations into steady revenue streams is challenging without data insights being at the core of their efforts. Currently there are very few Nordic companies that are truly able to scale successfully using data and AI,” says Anil Agarwal, CEO, Capgemini in the Nordics. “As a trusted business and technology transformation partner for organizations across the Nordics, Capgemini is well placed to create and publish this book that provides proven and effective data strategies for business leaders and entrepreneurs, to take their ideas to the next level and help them unlock the true potential of their data investments.”

“Although many organizations in the Nordics have some degree of data maturity and are on the journey to becoming data masters, we also see that numerous companies are falling behind. Consequentially, Nordic organizations are becoming less competitive in domestic and international markets and in extreme cases, some companies could potentially face bankruptcy risks for not embracing the use of data and technologies such as AI. This book provides actionable insights to inspire companies to become data masters and transform their business,” says Rickard Sandberg, Head of Center for Data Analytics and Associate Professor Applied Mathematics and Statistics, Stockholm School of Economics and one of the co-writers of the book.

[1] Data masters or data-powered enterprises are defined as organizations that can create, process and leverage data proactively to fulfill their corporate purpose, achieve business objectives and drive innovation.

[2] Capgemini Research Institute, ‘The data-powered enterprise’ https://www.capgemini.com/wp-content/uploads/2021/02/Data-powered-enterprise_Digital_Report-4.pdf 

The Future of Data – How Nordic companies scale and transform with data and AI features interviews with Nordic companies such as Essity, Fortum, The LEGO Group, Neste, Northvolt, Scania, Securitas, Sinch, Telenor, Telia and WirelessCar together with research from Capgemini, Stockholm School of Economics and Copenhagen Business School. It will be available in bookstores and online from March 21, 2023.

Notes to Editors

Based on a Capgemini Research Institute study, data mastery is driven by two complementary dimensions: data foundations and data behaviors.

• Data foundations are the necessary tools and technologies with which an organization can use and leverage data.
• Data behaviors are part of the DNA of the organization and relate to people, processes, skills, and culture.

An organization that is a data master excels at the dimensions of data foundations and data behavior, and this means that it creates, processes and leverages data proactively to fulfill the purpose of the organization, achieve its business objectives and drive innovation.

About Capgemini

Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided every day by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of over 360,000 team members in more than 50 countries. With its strong 55-year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fuelled by the fast-evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering, and platforms. The Group reported in 2022 global revenues of €22 billion.

Get The Future You Want | www.capgemini.com