D Justhy

Three Signs Your Enterprise Data Strategy Needs an Overhaul

You waited for the GDPR deadline. It came and went past you on the 25thof May 2018.

But, what about your data strategy? Are you done with it, or you have more work to do.

Well, if you are a digital age leader looking to make best use of your enterprise data, these three introspective questions will help you ascertain if your existing data strategy, will take you into the digital age, or if it needs an overhaul.

Having worked in a variety of sectors, globally, there has been a common theme that emerged over the years in my career, indicating a certain need for a data strategy revamp.

Data strategies in immature organizations, tended to be mere desk ware. However, such companies paid their price. Some even disappeared.

Forward looking leaders though, think and do things differently. And they are a pleasure to watch, when in action. They are usually action takers, results oriented, they mean what they say, and do what they say. They understand that data is a reflection of the business process, which in turn is a reflection of the business model, which in turn is a reflection of the business strategy.

And when this is understood, leaders make themselves accountable and drive their organizations, in a direction that mediocre leaders would not even comprehend, leave alone, act on it.

If you are a leader of action and outcomes, here are three signs for you to consider overhauling your currently known data strategy.

  1. Ownership of data within your enterprise is unclear

In the digital age, there is no excuse for not know who owns the data in your enterprise. It is unacceptable to think that the CEO “owns” all the data. There needs to be clear accountabilities for managing various aspects of enterprise data. Of course, a technology function may be best placed to be responsible for certain data management aspects but for sure, it is naive to think that the matter begins and ends there.

  1. New tools and technologies don’t seem to make life any easier

If you are one of those organization with numerous shiny tools and technologies, but no visibility of immediate and tangible benefits, then you are a certain candidate who is underutilizing your true enterprise data potential.

  1. Organisational trust is low

Finally, if you are in a “low trust” environment, this is clearly a symptom of lack of adequate transparency, which of course data will resolve naturally. Low trust means lack of transparency through data, processes and people.

Enjoying the full potential of a great data strategy is not reserved for the Googles and the Amazons of our world, alone. On the contrary, it is a certain possibility that every organization aspiring to evolve into the digital age, must pursue.

The good news is that it can all start with a sound data strategy and you can overhaul your current data strategy to take your organization to where it truly belongs in the digital age. Your people and your data when combined, will create extra-ordinary outcomes for your enterprise.