As we continue to adjust to the ‘new norm’ where covid has become an endemic aspect of our lives, we still strive to recalibrate all operational aspects to our business. Supply & demand, product and service pricing, effective operational customer service and retained short and medium term profits are all skewed in this ‘new norm’ state.
Throughout these two years of change, in our now accepted data-driven economy, the constant priorities of focus are:
- Data governance at all levels, from C-level, line of business, and end user
- Data-driven culture and literacy
- Self-service analytics
- Data Warehouse modernisation
All of these elements, when effectively deployed in a business operational model, will reduce the friction of the data journey from source to analytical decision support. In doing so, this enables businesses to be more responsive to demand-based business change, effectively providing an operationally competitive bias by being truly data-led and driven.
To bring best return on value from our corporate data, it’s imperative that we have both integrity of, and integration of the appropriate business level data (information) in the hands of the knowledge worker community.
The known adage of the 80/20 rule applied here, in respect to the scale of corporate transactional data, and where the true business value is, based on the aggregation of transactional data, into the more summarised and more
blended datasets. These datasets support the knowledge worker communities across all business functions, as well as those at the executive levels.
There is nothing more true that 80% of the business value is based on the top 20% of aggregated data. This fact is more in focus now than ever before due to covid and our ‘new norm’ state.
To make this data-led culture business effective, strong vendor software products must be appropriately deployed, and a rich enterprise data model (data warehouse, data lake, lake house) needs to be effectively augmented with a strong focus on governance and processes in a balanced and aligned state, to ensure knowledge workers are educated, informed and empowered to be business effective.
We also know that the business use of D&A applications and data, is a rich, live and ever changing landscape which dynamically changes with the trading conditions of all businesses. Therefore this operational model of full business engagement has to be a constant for long term business value of a data-led and well governed business to be competitive.
Finally, there is a need to ensure that the heritage D&A topology is designed, maintained, and enhanced to support the transformational drive towards a more scalable and dynamically flexible cloud-based architecture.
This journey has to be considered and planned, in a phased and prioritised way, to ensure most effective business value is being delivered.
Look out for or next blogs which will focus on individual aspects of these trends with a greater degree of subject focus.
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