As with any expedition, preparation is mandatory and it’s best to have a guide to accompany you every step of the way. There is no preconceived itinerary, as each company has to discover its own path. But the destination will definitely be worth the journey.
There are many indispensable halts to safely and fully achieve this quest. In this Data Insights, we will focus on 4 key points of this roadmap.
First, your data-driven company’s journey starts with good data governance so that high quality data is made accessible and available across the whole company.
Following this path you will encounter some people who do not quite yet believe in the full potential of data to improve their day-to-day life and to develop new opportunities. Others will have good ideas but will face bureaucratic processes or will be afraid to make mistakes when deploying new initiatives. That’s why leaders need to build a culture of innovation; where ideas are sourced both outside and inside the company, and where department have the freedom and agility to move fast. Data can be a real asset for this innovation fostering and that is why we will talk about Innovation Management.
Increasingly, the challenge will be to secure your data. Hackers are becoming very sophisticated, which makes cyber security a key priority for your company.
Finally, to fully take advantage of the unseen volume and velocity of your data, the leaders of tomorrow will need to add extra layers of abstraction. This is where visualization techniques for everyday data visualization or idea generation step in.
Good data governance and cybersecurity combined with a culture of innovation and leaders who are equipped with the right data skills are all key for a good data strategy and will bring you to the right destination.
As a reminder, in the absence of data, the opinion of the highest hierarchical person in the organization will prevail, which is not necessarily the most efficient one. So unleash the power of your data!