A practical guide to delivering value through data Today many organizations want to be data driven, some have started by hiring data scientists, or they are planning a digital transformation.  Why? It is the belief that they can deliver efficiency, higher revenue or perhaps even find new opportunities using data.  Ultimately it is about trying to drive higher value for their stakeholders.   So how do you determine the best approach and then deliver on it?  This article is the first in an eight-part series on how to deliver sustainable value through your data. This is a straightforward framework and approach on how to understand where you are today and how to deliver the value today and into the future.  It shows you how to leverage your existing investments and when appropriate how to evaluate and upgrade your tools, processes and people. One challenge for many organizations is the inconsistency in

How to Write Your Data Vision and Mission Statements In the second installment of his series on delivering value through data, Rich Peters shares how to lay a strong foundation for program success. A data vision statement and a data mission statement are two very powerful tools. They can unify an entire organization’s efforts and act as the focal point that continually guide everyone’s efforts on the things that truly matter. Without clear data vision and mission statements, an organization’s strategy and execution can quickly become disjointed, leading to frustration, inefficiency and wasted resources. The Data Vision Statement The purpose of any vision statement is to ensure that the organization is aligned to a common goal. Visions are a key component of how we communicate. They convey why each organization exists and how value is added to their ecosystem. The vision statement for your data should support and be consistent

Defining Your Data Strategy Why is Data Strategy important? Your Data Strategy aligns your efforts with your Data Vision and Data Mission Statements.  It brings forward all the necessary elements (People, Process, Technology and Data) to derive value from your data in a straightforward manner that you can execute.  Your Data Strategy is also a critical communication tool that ensures the organization will support the initiatives and provide the necessary resources.  Most importantly, it brings your organization to the next level of detail where people can see what will physically be created or changed.  Ultimately, they should be able to see how the Data Strategy will help the organization.   How to get started: Most data strategies are based on a simple concept of how you get the “right” data into the “right” people’s hands so they can make an “informed” decision.  Data strategies are becoming even more important with

The Assessment In this second part of building a data strategy, we focus on understanding how to get from where you are today to delivering your data vision and strategy.  The assessment phase is where vision, strategy and reality meet.  This is where you map out your current state for each of the core elements (people, process, technology and data) and combine that with your key objectives and capabilities that we defined in the first part of your data strategy.  You bring them together by creating solutions that deliver your strategy and vision. How does the assessment work? Assessments are an iterative process where the outcomes are decisions on the future state and how to get there.  However, you need to start with where you are today which drives how you will get to your future state.   First – assessing your current state Second – assessing your future state Third

Building A Roadmap to Deliver Your Data Strategy Creating your roadmap is the fifth article in the series “Delivering Value Through Data” which finishes up the section on building your data strategy.  In our last article on data assessments, we described where you are today and how you will deliver each element to get to your data vision end state.  The assessment yielded an assortment of solutions or initiatives that need to be synchronized to deliver your data strategy.   Why do we need a roadmap? The data strategy roadmap shows how and when to implement your data vision and mission.  It is a valuable change management tool, but equally important, it ensures alignment to your organization’s vision, mission, and strategic goals. A vital tenet of the data strategy is keeping the individual solutions small and simple, which leads to having many solutions that need to be delivered to successfully

It’s all about the Data PEOPLE – part 1 In article six of the series “Delivering Value Through Data,” we discuss the keystone for your data strategy.  We call it change management, but it addresses the people component of your strategy.  Why do we call it the keystone?  Simple – people are the key for each of the other components of your strategy. People choose and implement your technology. People create, document and follow (or don’t) your processes. People create, modify, integrate, analyze and use your data. People set your organization’s strategy and correlating data strategy. Even in our world of artificial intelligence, it still comes down to people creating, managing and using those systems. So, how do we get people to believe in your strategy and ultimately use your data to drive value?  This is where change management becomes critical. Done correctly, it will ensure your Data Strategy is

It’s all about the Data PEOPLE – part 2 In Article Six of the series “Delivering Value Through Data,” we discussed the keystone for your data strategy.  We call it change management, but it addresses the people component of your strategy.  Why do we call it the keystone?  Simple – people are the key for each of the other components of your strategy. People choose and implement your technology. People create, document and follow (or don’t) your processes. People create, modify, integrate, analyze and use your data. People set your organization’s strategy and correlating data strategy. In part one of Article Six we discussed change management and the first three “E’s” which are Engagement, Education and Empowerment.  These “E’s” are the framework for helping the people in your organization through change.  In part two of the article, we look at the last two “E’s” Experience and Empathy which address how

Implementing your data strategy Part 1 In the seventh installment of his comprehensive series, “Delivering Value Through Data”, Rich Peters helps you implement your data strategy. In this series we have shown how to put together a data strategy by starting with setting a data vision, how to achieve the vision, assess the current status and what needs to be accomplished, the timeline for accomplishing the strategy and the impact on the people.  Now it is time to bring all these together and implement the data strategy. In part one of this article we will work through planning the implementation with some of the key needs and differences in a data strategy.  In part two we will walk you through how to execute the plan by selecting the right resources and tools.  We will also touch on process changes and ensuring that change management is fully integrated in the implementation.