D. Justhy's Blog

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The Importance of Having a Simple Data Strategy

The notion of an overarching enterprise data strategy can be quite overwhelming. You can start by having a clear vision of the desired business impact from data. Specifically, on how data will be sourced, how it will be utilised and how organizational transformation(s) will eventually be enabled. All this must be clearly understood. Many more questions could emerge as well. Such as the following:

– How will we identify, combine and manage multiple sources of data? Regardless of (your) industry or size, you can expect datasets to be large and complex.

– Do we have/How can we build the capability needed to utilize tools and/or build methods that optimize enterprise outcomes?

– What kind of leadership initiatives and attitudes can transform the organization so that the tools and methods actually facilitate better, more consistent as well as profitable decisions?

To make data a fabric of day-to-day operations, everyone must be aware of the data strategy being pursued by the enterprise, the value it is expected to deliver, and their role in solving problems and making the most of opportunities. In this scenario, simplicity, transparency and usability can help create a mind-set that is more accepting of data and helps adjust to a data-driven culture.

Why you need a data strategy blueprint

A strategic view of data in particular and technology in general is imperative to realize measurable business value. When framing the strategy, three parameters come to the forefront: commoditizing the data infrastructure, industrializing data integration, and ensuring organization-wide consumption of reporting, analytics and visualization capabilities that are both internal as well as external facing. With this line of thinking, you can bring your complete IT infrastructure together into a single blueprint.

A data strategy blueprint serves your enterprise as a compass to indicate the current location to where it should ideally be in the digital age. There are three steps involved:

  • Data serves the purpose
  • Data as a capability
  • Data as an asset

All three depict data at different stages of its value to the enterprise. In the first stage, data does what it was intended to do, nothing more. In the second, data starts driving results, impacting innovation and being valued across the organization as an integrated and a consistent capability. As an asset, data creates an environment of constant innovation and makes the organizational culture more purpose-oriented, whilst simultaneously creating massive economic value. The latter being the ‘holy grail’ for digital age success.

When operating with a strategic intent, the blueprint also offers the big picture on what must be done with data, describing how best to organize data across the enterprise landscape. The tactics and actions that must be followed through for each of the aforementioned strategic parameters can be more clearly understood with a blueprint. When the strategy is broken down into its constituent parts, it ceases to be complex. A ubiquitous strategy outlining the desired outcomes of collective activity is required to help datapreneurs and the people they lead understand the value of their contributions and empower them to excel, in the digital age.