All forward-thinking organisations know that by unleashing the data locked in their systems they have significant potential to advance their strategic goals. Reaching that full potential means a full transformation into a data-driven organisation. Before this happens there are generally two common questions posed:
- What’s our vision for how far we want this to go?
- Where do we start?
To help answer those and provide an introduction to our more detailed notes, here are the four steps of a data strategy.
Step 1: Embracing the cultural change
The cultural change needed is to become an Evidence-Led Organisation. This means asking for and relying on “data-as-evidence” for all decision making, starting at the top of the organisation and supporting that with the training of key staff to introduce data-literacy as a new skill throughout the organisation. This ensures that Business Intelligence becomes embedded as a resource used by staff at all levels of decision-making.
Step 2: Identifying and managing your data
Understanding and documenting what data you have and how it is held, is vital if you want to move to any of the next steps. This can be as simple as drawing up a partial data asset inventory, through to the implementation of a full Data Governance framework.
Step 3: Service innovation
You’re now ready to innovate with the data, which you can jump straight into with the development of Data-Driven Services using data you already know you can get, or you can take a longer-term approach by building a Data Science team and using their outputs to drive your service development.
Step 4: Customer, stakeholder and community engagement
The same promise that “data-as-evidence” will transform your organisation internally, can be made for your relationship with your customers, stakeholders and wider community. The simplest step is to produce regular Stakeholder Data Reports (Factbooks) that demonstrates the value that your organisation or industry provides by showcasing your data against a number of key comparators. The more advanced step is to publish your data as Open Data and take your stakeholder engagement to a new level.
How we can help with Data Strategy
- Advise your board on the benefits of a data strategy.
- Work with you to introduce a complete data strategy.
- Help you to develop any missing elements to your current data strategy.
- Review your current data strategy and implementation.
Read more about the different components of a data strategy below: