Data - the #1 topic as 2023 comes to a close
Organisations are increasingly recognising the value of data as a strategic asset. However, many businesses find it hard to effectively manage and harness the full potential of their data. At Amplify Technology, data is the number one topic that our customers want to talk about right now.
Data Challenges
Companies often approach us with concerns about their data strategy, examples include:
Visibility: They do not have a full understanding of their whole data landscape and the full extent of their data challenges, with murky areas that do not really see the light of day.
User Experience: Often systems have areas of poor user experience, leading to workarounds that can result in data quality, completeness, and spreadsheet-related issues. A double whammy of a problem with both the data and the user experiences needing attention.
Data Quality: They may be aware that their data could be improved, and they want more data about their data. While more data-mature organisations will report on data quality and completeness as well as performance, many are still reaching this maturity point.
Data Classification and Lifecycle: Data classification may need to be updated to reflect the current state of the business. Lots of businesses upped their game in readiness for GDPR but are now raising their hands to admit that those essential practices may have drifted a little.
Data Architecture: Data architecture is often not current. A bit like for GDPR above, data architecture is often captured and brought bang up to date for an essential initiative (a big programme for example) bit often slips when the day job kicks in.
Data Culture and Literacy: Unfortunately, data can sometimes be a topic that is not well understood, provokes uncertainty or fear from those less versed in it and is often seen as somebody else’s job rather than being close to home. However, the more mature companies on a data journey see data as a job for everyone and have invested in embedding data within their culture.
Not surprisingly, many of these frequent problem areas are in the often perceived “unexciting” areas of data strategy. Do not get me wrong, I do not want to play up to that stereotyping, to get into a more successful data strategy these “unexciting” practices need to be re-badged as “essentials.” These are areas which require diligent, detailed work and sometimes without obvious rewards and praise. These are the foundations of great data strategies. And they are the barriers that get in the way if you try to bypass them to focus only on the shinier stuff!
Data Maturity Assessments: A Starting Point
In every case we have encountered, providing a method to measure data maturity, in the round, right across the data strategy has been the perfect way to establish a baseline and determine how to move forward. By understanding their current state of data maturity, organisations can identify the areas where they need to focus their efforts, prioritise their goals, and develop a roadmap for improvement. The assessments will shine a light on those murky places and will force eyes to view the whole strategy. Enhancing data maturity takes time so knowing where and how to prioritise is a key ingredient for success.
Unlocking Data Potential
Assessing and baselining data maturity can provide a wealth of advantages:
Creating more understanding and a common view of the “as is” data position. Get rid of comments like “we know we are not where we want to be, but don’t know where to start.”
Demonstrate data as the team job that it is. A data maturity assessment is a team job, with many people contributing views. It is a great re-set moment where a collective understanding of the “as is” can be bottled up and utilised in the next stages – setting out the data vision and developing new strategies and action plans. The team job continues!
It is thorough – the data maturity assessments will look at all aspects of your data approach, not just the ones to grab everyone’s attention.
You can repeat it. Do you want to see how far you have come against your new data strategy? Capture a new “as is” to measure progress.
It is understandable. Among the key aspects of your data journey are the data culture and literacy of the organisation. What better way to focus on that than to use data maturity assessment work and your new baseline to re-set the data conversations and provide a collective understanding of where we are today, and where we are going, data-wise.
Data: The Foundation for Digital Success
Data is the foundation of digital transformation and operational high performance. Organisations that can effectively manage and use their data are well-positioned for success in the future. At Amplify Technology, we are committed to helping our customers navigate the data maze and unlock the full potential of their data and technology investments.
What next?
If you are a business that is finding its data journey tricky, we encourage you to reach out to us at Amplify. We can help you assess your current state of data maturity, identify areas for improvement, and develop a roadmap for success. By working together, we can help you transform your data into a strategic asset that drives growth, innovation, and advantage for you and your customers. We would love to hear from you.