Organizational Culture as a Determinant of Employee Performance

Abstract

Data now plays a more important role than ever in today's economies, and is recognized as a factor of production, in addition to land, labour and capital. Data collection and processing, data analysis and data application can contribute to the organizations to improve their productivity, understand consumer behavior, develop new products, reduce cost and make decisions. The utility of data is however not just measured by the quantity of data, but also by its quality, accessibility, relevance, analytical capacity and institutional context. The Digital era brought on by artificial intelligence, Big Data, cloud computing and digital platforms has been a further boost to the productive potential of data and introduced questions on its privacy, data ownership, the concentration of power, cyber security, inequality and ethics. An economic system that values the contribution of information to increased material productivity, and considers the social cost of using information as a new factor of production is needed. Governments and organizations need to have a data governance framework that is transparent, beef up data security and privacy protections, encourage responsible data sharing, and promote access to digital infrastructure and skills, with equity in mind. Lastly, good data management can contribute to innovation, competitiveness, jobs and sustainable economic growth, but only if it is accompanied by technological change and good governance, inclusive policies and a fair economic and social balance.