Become a Data Master
In today’s increasingly volatile and competitive business environment, organizations are forced to look to data to hone their strategic and tactical responses. But some organizations are clearly better at making that data work for them. What sets these data masters apart? We wanted to find out.
In our previous report on data-powered enterprises, we found that only 16% of organizations had the tools, technologies, people, processes, skills, and culture to successfully derive value from growing volumes of data. This time, for the latest Capgemini Research Institute report, Data mastery: How data-powered organizations outperform their competitors, we spoke to more than 50 technical and functional leaders from this group as well as to executives at big-tech firms and digital natives recognized for extracting valuable insights from data.
We found that data masters follow a specific, four-step process:
- STRATEGIZE – Data masters establish business-driven and owned data strategy to capitalize on opportunities by combining internal and external data.
- ENTRUST – Data masters focus on strong data management capabilities and data quality to build the base trust foundations in the veracity of data. They then focus on trusted AI systems and ethics as well as democratization of data.
- MODERNIZE – Data masters decommission legacy systems, move to multi-cloud environments, leverage DataOps, and develop customizable data-discovery tools.
- ACTIVATE – Data masters have governance models and culture that focus on data-powered innovation.
Organizations that boldly follow these steps they will be better placed to drive growth, meet fast-changing customer needs, manage risk, and get ahead of shifts and volatility in their business environment.
To find out how we can help your organization become a data master, download the report. Most importantly, be well and focus on the future you want.