Connecting data insights opportunities with business imperatives and data related initiatives (infrastructure, management, people, etc.) through a Data Strategy is a must for data oriented organisations.
A Data Strategy should be centred on delivering tangible business benefits to the organisation, therefore it should be anchored on a set of prioritised business outcomes/use cases identified in conjunction with business stakeholders.
The following sections outline Derilinx’s approach to building a Data Strategy.
There are three key pillars to achieving the desired outcome of delivering actionable insight to drive business value in a sustainable way:
Clarity of Business Opportunities
Right Data and Technology supply
Organisational readiness to produce and act on insights
Where any one of the three pillars are missing, results will not meet expectations; a viable business case for data will not be built.
Our approach integrates four key success factors that will deliver a practical, cohesive and comprehensive data strategy:
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The development and implementation of a Data and Analytics Strategy needs to be business-focused first, driven by strategic imperatives and enabled by Data (Supporting technologies are now well proven and do not really constitute a challenge any longer).
Data is a corporate asset and source of competitive advantage. It is imperative to ensure that your organisation's top management is consulted and actively supports the work from the initial development of the strategy to its implementation on the ground.
Your organisation might be organised in divisions or departments that have different levels of capability regarding data and analytics. It is key to recognise this situation to avoid a “one size fits all” type of strategy.
The most successful data-driven companies remove organisation silos and put in place the right environment for data to be shared across the organisation. The process of building the Data & Analytics Strategy should strongly encourage this outcome.
Derilinx’s approach to deliver a Data Strategy consists on three stages:
Focused on engaging with your organisation stakeholders to proactively:
This stage is structured around the following key interventions:
3 key objectives:
A series of one-to-one interviews structured around Derilinx Data Maturity Assessment questionnaire. Key assessment categories include clarity of vision, ability to deploy, capabilities and skills, etc. This will enable us to build in an efficient manner an outline picture of the current data capability across key departments in your organisation.
Primarily based on opportunities discussed in the ‘World of the Possible’ workshop, we build a clear suite of quantified financial and non-financial benefits linked to each use case. This will help us both build the business case and prioritise use cases.
Focused on designing a roadmap that includes both the vision and the required interventions to deliver your organisation’s vision for data across the following categories:
Key activities include:
This workshop, held with data owners and members of IT, is focused on identifying the most relevant data sources and systems, each being assessed on key markers such as quality, coverage and history.
Read more about our Data Audit Framework here.
This workshop is dedicated to assessing key cultural and/or organisational blockers (including availability of skills) that may inhibit the successful deployment of data solutions.
Derilinx collates information from the previous workshops together resulting in a shortlist of initiatives for the next 18 to 24 months. These initiatives will be grouped into work tracks and assessed for business value and cost.
Typical Agenda for the Visioning and Road-mapping Workshop is:
Identifying and understanding your data to better share it within and outside your organisation (Open Data).