Creating business value with data strategy and data governance – where do you start?
The possibilities of data are virtually limitless. Ironically, this awareness regularly prevents data strategies and initiatives from fruition. Anyone who wants to become data-driven has infinite opportunities, consequently running the risk of getting stuck in endless vistas and crippling perfection, which makes it inherently difficult to find a suitable starting point.
So, yes, the sky is the limit, but you won’t get anywhere without an appropriate value-oriented data strategy. A vision that gives you the framework to focus on the most relevant matters. At Anderson MacGyver, we use an integral perspective in which data, technology and organization all play an important role. We choose a use-case-based approach in which the data strategy is developed in small steps. Knowing what value the organization wants to derive from data in the short term helps pushing the right buttons in order to be successful in the long term.
Initially, restraint constitutes added value: by starting small and quickly achieving tangible successes, initiatives will spread easily and stimulate new ones – celebrating success together provides energy for the subsequent step. Of course, everything should be based on an appropriate, future-proof data governance and data architecture.
Data strategy, the bigger picture
Anderson MacGyver is involved in many successful data projects. Sometimes such trajectories are stand-alone. More often, the data strategy is part of a larger strategic advisory process, such as a redesign of the digital organization, an extensive digital transformation, IT implementation or a combination thereof. Data is typically the common factor opening new perspectives.
A prime example is Allinq, which is specialized in construction and life-cycle management of telecom infrastructure. A new core system was implemented five years ago, requiring improved data management. With data governance related issues resolved, the company now has detailed insight into the assets of customers through continuous monitoring. This information is now being offered as a new product on the market.
Similarly, we can look at Eneco, an energy company that is data-driven 24/7. Thanks to the intelligent ‘Toon home thermostat’, amongst other things, the company can always make the right energy purchasing choices on the energy market. This dependence on data makes it necessary to set up a continuous operation for the data processes, thus marking a shift from data as a supporting asset to a primary process.
Anderson MacGyver helps many different organizations to increase awareness of the possibilities and value of data – e.g. from making the right decisions and creating more intimate customer relationships, to predictive analytics and leveraging data as a product or service, with a sharp eye for all associated risks and responsibilities.
In short: the data strategy does not stand alone. It should be a match with the organizational structure, processes and the technology landscape. By starting now from these guiding frameworks, you can realize unlimited value with data later on.