the key to data intelligence
Today, it has become virtually impossible to run a successful business without at least a basic clear and shared data strategy. A good data strategy will unlock the power of structured and unstructured data and drive maximum added value through data analysis and predictive analytics. It’s the first step to becoming a data-driven organization.
Understanding how data influences your business today and in the future is paramount to set up your data strategy.
What is a good data
Like a good corporate strategy, a good data strategy takes your position in the market into account, highlights the critical decisions and tradeoffs your company will have to make for the next few years, prioritizes the steps to take and identifies the resources needed to ensure success.
In addition, a data strategy outlines your organization’s vision on
- Managing data as an asset
- Leveraging data to establish a competitive advantage
- Leveraging data to improve corporate processes
The data strategy roadmap
The result of a reliable data strategy is a concrete roadmap that is in line with your organization’s vision, goals and desired level of maturity. It includes both short-term ‘quick wins’ and long-term execution strategies. It also guides the implementation of data governance, quality and stewardship, master data management processes, business intelligence and (big) data analytics applications.
to data strategy
Many companies know – at least on an intuitive level – that a reliable data strategy is an absolute must for long-term viability. Few, however, know how to get started. At LACO, we have developed an 8-step approach to establishing a solid data strategy based on a centralized vision of data intelligence. Our goal is to translate this vision into concrete steps that align with your corporate identity, business strategy and goals.
Our 8-step approach
Set up a strategy team.
Create a data map explaining how data should be used in your company.
Identify the internal and external data you’ll need to achieve your goals.
Prioritize solutions by plotting feasibility vs. added value.
Start with quick wins, but don’t forget about long-term initiatives either.
Draft architectural and organizational blueprints. Make sure to select the people, tools, applications and analytical models that will best support your business goals.
Build the solutions.
Implement and adopt.
Maintain and support.
Why our approach works
No disruptive changes: our step-by-step approach offers ample time and space for your business, processes, and people to adjust, ensuring smooth change management.
Flexibility is key: leaving enough space for evaluation and on-the-go adjustments ensures your solution remains in line with changing situations.
Cost- and time-effective rollout: we carefully guard the cost and timing of the complete process.
Immediate added value: we prioritize quick wins to gain traction for the project and generate buy-in.