It is often quoted that ‘data is the new black gold’. Let us explore what this means. As we move an epoch from the industrial age to the new digital age; we know that it is those armed with the intangible assets of knowledge, insights and foresights that are able to cause the market disruptions, experience rapid growth and develop the cutting edge over their competition.
An enterprise information management (or EIM) strategy addresses the following:
- Elucidates the value of data and the possibilities it can enable based on the organisation’s internal and external context;
- Defines adopted standards, metrics and maturity models for defining and measuring the organisation’s data assets (structured and unstructured) and information landscape;
- Provides a target vision for the organisation’s data (people, process and technology) and the role it should play;
- Assesses As-Is data maturity & determine gaps from target;
- States the approach for bridging the gaps towards target providing an actionable roadmap;
- Defines the key stakeholders and asses their prevalent attitudes to data;
- Discusses stakeholder and other challenges requiring to be addressed for successful strategy implementation;
- Communicates the business case and financials.
Why Would You Need This Service?
Data is the building block from which information and knowledge is derived so it lies at the heart of the very fact that it is the engine room for the modern economy. Organisations that do not treat data as an asset simply for that reason, put aside it’s monetization opportunity and value, do so at their peril. Worse is just like other assets it is important to define a well thought out information strategy (pseudonym for data, information and knowledge) to maintain and maximise the value derived from it.
Without an information strategy tied to the broader corporate strategy, not only will opportunities be lost for increasing revenue and organisational efficiency and reducing costs and reputational damage, but data will become a pain point and a wasted resource requiring on-going emergency resuscitations and tactical treatments. As a proliferation of interconnected data issues build up and tactical aspirins are applied, the data problem exacerbates, and the health of the organisation’s data landscape deteriorates.
Address the health of your organisation’s data asset with immediate effect to limit the damage and maximise its value.
How We Deliver This Service
We start with addressing the fundamentals first and that is to understand your current corporate strategy, industry and market, culture and direction of the organisation to understand your context.
Next, we bring to the table our know how, experiences and leading industry frameworks and benchmarks to assess your data and information needs comprehensively, ensuring not to miss any vital areas. The assessment would entail engaging stakeholders at all levels of seniority and sifting through relevant documentations to paint a rounded picture. Surveys, workshops, round tables, one to one discussions, phone/email correspondences as well as more elaborate team events may all be used to knuckle into the organisation’s mindset and to tease out and validate the status quo.
After the assessment is complete, we socialise views of a future vision along with industry standard target implementation models to get senior stakeholder buy-ins. These include descriptions and examples of artefacts required to define, design and maintain the information architecture and the broader enterprise information management (EIM) capability.
Once a view of an ideal target vision is accepted by the senior stakeholders and decision makers the gap from the current state to this target is determined and validated.
An approach to bridging the gaps along with an associated roadmap is collaboratively developed and communicated to all the relevant stakeholders and once agreed this is costed and analysed for financial and resource viability.
A typical outcome of a strategy exercise is a document articulating the short, medium and long term plan of action towards achieving an objective. Our information strategy product will provide you with the following:
- An assessment of your data landscape;
- A target data vision and conceptual architecture;
- An approach for achieving the target and a costed roadmap;
- A target operating model;
- Identification of key challenges of implementation and stakeholder management required.
Contact Us to Get Started
We will come back to you to discuss your situation as soon as possible