Gain Value from your Data Assets
Why does a company need a data strategy
If a company has no competition and can continue operating in an environment of assured profits and no or low competition, they do not have to bother about data.
However, if they are in a competitive environment, then it is imperative to have an understanding of their customers, suppliers and to operate efficiently.
One of the steps that customers take in this direction is to install an ERP system such as SAP. Operational systems streamline the day to day operations. However you can derive real value from such a system only if you convert this data in an understandable format and put it in context of other data in your enterprise such as CRM data, industry consortium data, stock market data etc.
Data Strategy is needed to avoid the clutter and confusion where each department collects bits and pieces of dirty data and multiple copies of the same data is floating over the enterprise. It empowers the management to have a complete view of the customer, operations and cost benefit tradeoffs to make decisions confidently.
5 key aspects to consider while developing your Data Strategy
Common pitfalls in Data Strategy
What are the prerequisites for Data Strategy projects
Progressive Business sponsor
Define and socialize realistic benefits in sprints– don’t stay in the backroom and don’t promise the moon
Team which understands your data and is willing to work with all the aspects of ‘dirty data’
Strategy is not about putting up a big roadmap; it’s about executing it in all the nitty gritty, need partners who can get that done
How does our expertise in nextgen products make Data Strategy successful
Agility and scalability are the key ingredients of a successful data strategy implementation.
Business changes quarter to quarter and IT cannot wait for multi year data lake projects to start delivering value.
Data Strategy has to define realistic milestones tied to business outcomes in agile sprints. This approach ensures that business users stay interested in the project and give their inputs for the successful implementation of Data Strategy.
Agile, pay as you go, scalable products are the backbone of Data Strategy implementation and our expertise in the same enables us to deliver value to our customers and champions and to empower them to be best of breed, innovative in their domain and function.