Digital Data & Analytics

Digital Data & Analytics

In the digital world data is the most valuable resource: the right use of data has the potential to radically improve efficiency and quality of operations and create disruptive business models. Yet the right data is also one of the most scarce resources. Many companies fail to utilize the opportunity of Data and fail in monetizing upon the data treasures. Usually it boils down to five major mistakes. (1) No data driven business models, (2) overpromise of data lakes, (3) inadequate strategy for scaling, (4) poor access to and quality of data and (5) lack of data culture.

It’s time for a smart and holistic Data Operating Model

Organizations need to move beyond the theoretical opportunity of data and single use cases and focus on 5 areas:

1. Data Driven Process Efficiency: Identify and implement use cases along the entire value chain supporting today’s value creation
2. Business Use Case Driven Data Pools: Lean creation of Data Pools for single use cases with the latter opportunity for aggregation within a Data Lake
3. Clear Scaling Strategy: Understanding how initial use cases should be rolled out to create company-wide benefits right from the beginning. Options are: scaling by processes, scaling by location, scaling by product
4. Global Data Governance Concept: Balancing the global vs. local requirements for effective and efficient data management – with clear responsibilities on all hierarchy levels
5. Active Change Management from Day 1: Creation of a Data-driven Organization starts from data-driven thinking at the top and top management commitment to the efforts required changing the culture and expectations on all organizational levels