Growing Impact of Social Data on Business and Society Roundtable Kicks Off Deloitte University's ON Event Series

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Apr 10, 2012, 07:30 ET

WESTLAKE, Texas, April 10, 2012 /PRNewswire/ -- In a time when organizations are pressed to go social to stay sustainable, Deloitte University convened diverse experts to explore how social data can be pivotal to capturing this opportunity. The group of scientists, academics and business leaders discussed how greater use of social data in decision-making can improve business performance and ways to prove the business case for making such use central to an organization's operations.

This ON Social roundtable kicks off Deloitte University and Deloitte University Press' ON event series for fostering meaningful discussions and debate to generate breakthrough ideas that can improve business.

The roundtable was chaired by Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. It covered core facets of this theme including performance improvement, social data as disruptor, overcoming cultural and societal barriers and how to build data-driven organizations. The discussion also explored how social data is affecting the public sphere, impacting financial decisions and reframing the role of management.

Highlights from the "by invitation only" ON Social gathering include:

Building data-driven organizations: Social data has the potential to drive organizations to restructure themselves in new ways to increase efficiency, productivity and engagement.
Examining radical transparency: Transparency around data has enabled nimble organizations to respond rapidly and effectively to business dynamics. As the nature of open data evolves, individuals, corporations and governments must prepare for this challenge (or opportunity).
Re-evaluating the role of management: Businesses are just beginning to explore the potential effects of increased access to data on decision-making. These effects will be felt at the individual and organizational level and may most directly challenge the role of management. Organizations are learning that data-based decision-making may cause management roles to be re-evaluated and re-assessed to define new purposes and goals.
Evolving employee self-evaluations: With the proliferation and accessibility of social data, employees can craft their own dashboards rather than operating off of performance measures mandated by management. Naturally, to succeed, this approach requires broad-based agreement on strategic imperatives and acceptable standards.

"Every executive can benefit from understanding the convergence of these technological advances and how their firm can harness them to stand out in their marketplace, markets and industries," concluded John Hagel. Hagel serves as co-chairman of Deloitte's Center for the Edge, which supports senior executives in making sense of and profiting from emerging opportunities on the edge of business and technology.

In addition to Openshaw, Hagel and O'Brien, ON Social participants included:

John Seely Brown, independent co-chairman, Deloitte's Center for the Edge
Steven Dean, partner, Prehype and Quantified Self
Sarah Kennedy Ellis, director, Travel Studios at Sabre Holdings
Jane Griffin, principal, Deloitte Consulting LLP and Americas leader of Deloitte Analytics
Carmen Medina, specialist leader, Deloitte Consulting LLP and former director, CIA Center for the Study of Intelligence
Norman Nie, senior advisor for products & strategy, Revolution Analytics
Beth Noveck, deputy CTO/former director, White House Open Government Initiative
Alex 'Sandy' Pentland, director, MIT Human Dynamics Laboratory White House
Margarita Quihuis, director, Stanford Peace Innovation Lab, Stanford University
William Ryan, chief analytics officer, Azumio
Michael Wu, principal scientist of analytics, Lithium

Held at Deloitte University's new state-of-the-art learning and development center, the ON event series will continue to bring together a variety of differing and occasionally competitive perspectives from preeminent minds in business and academia to tackle the most critical business issues.

"At Deloitte University, we believe diversity of thought and critical perspectives is essential to creating an environment where ideas prosper. The gathering of great minds for ON Social is a perfect example of that occurring," said Diana O'Brien, principal, Deloitte Consulting LLP, and managing principal, Deloitte University.

Deloitte University's second in the ON series will be ON Talent, "The New Attraction" – Talent, Technology and Connectedness in the Post-Digital Workplace." This June 11-12 event will explore ways to maximize company performance by tapping top talent inside and outside the organization, and apt use of technology including analytics to generate differentiating business value in this increasingly disruptive, complex and connected world.

About Deloitte University

Deloitte is committed to growing leadership skills at every level of the organization. Investment in Deloitte University, The Leadership Center, is the embodiment of this commitment to provide enriching experiences for our people and to ensure Deloitte remains "a place where leaders thrive." We understand that today's leaders must consistently enhance their skills to deliver quality in a rapidly changing environment. By transforming how we develop leaders, we are proving our commitment to both our people and our clients.

Deloitte University is also a place where ideas prosper. It brings together our best and brightest minds, inspires creative thinking and encourages thoughtful collaboration. Deloitte University is a source for innovative solutions and ideas that propel our people, clients, organization, and profession forward. Deloitte University is an extraordinary investment in people and ideas. For more information about Deloitte University, The Leadership Center, please visit www.deloitteuniversity.com.

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

SOURCE Deloitte