A Strategic Approach to Data

Written by Jackie 'O’Dowd

Data is one of the many raw materials that is used by every business. It has its own lifecycle. We base decisions on it, we repurpose it and reuse it, we leverage it.

Data is an input to strategy, it shapes the business model, enables process intelligence, is used by people and technology and it benefits from a governance framework.

Our research shows that organisations that have a strategic approach to data usually have a combination of:

·        Data by design.

·        Strong network effects.

·        Data driven insights.

·        A better understanding of people and systems interactions.

More importantly, a strategic approach to data considers how data is used externally by and for the Customer. It also considers how it is used internally for the things we need to design, create, and deliver behind the scenes.