What's your Data strategy?

What's your Data strategy?

1. Defense versus offense

   • Helps to desing
   • Efficient
   • Allocation of resources
   • Defense: Minimizing downside risk.
     • Ensuring compliance
     • Building systems
     • Analytics
     • Fundamental customer
     • Supplier information
     • Sales data
   • Offense: Supporting business
     • Increasing revenue
     • Customer satisfaction
     • Profitability
     • Sales
     • Marketing
   • Every company needs both

2. Single source, multiple versions

   • Information: Raw data
     • Customer retention rates
     • Sales figures
     • Supply costs
     • Value: Integrate and transform with other data
   • Data architecture
     • Consumed
     • Transformed
     • Distributed
     • Stored
     • Collected
     • Convert data into useful information
   • Flexible data
   • Information architertures
   • SSOT
     • Logical
     • Virtual
     • Cloud-based
     • Crucial data
   • MVOTs
     • Transformation data into information
     • Create versions of trueth
     • Derived from a common SSOT

3. Striking a balance

   • Data strategy
     • Best balance between defense and offense
     • 50/50
     • SSOT/MVOTs
   • CDO
     • The maturity of its data-management practices
     • The data capabilities of its competitors
     • The company’s overall strategy
     • The size of its data budget
     • Its regulatory environment
   • Value data is primarily external

4. Organizing data management

   • Centrally
     • Defense
     • Single CDO
       • Accountability across the company
       • Ensuring that data policies
       • Governance
       • Standards consistenly
     • SSOT
   • Decentralized
     • Offense
     • A CDO for each business unit
       • Prevent the development of data silos
       • Best practices are shared
       • Standards are followed
     • MVOTs