How to leverage data? A brief guide to fine-tuning your company's strategy
Posted: Tue Jan 21, 2025 6:14 am
Your company needs a smart strategy to take advantage of data and make profitable decisions. In this article, we share a list of relevant factors to take your business to the next level.
Digitalization and the role of data
Digitalization has become a central point for any company , occupying a prominent place on the agenda of almost all modern companies.
In the face of the pandemic, accelerating processes, automating them and making them more efficient was essential to sustain profitability and stand out against increasingly fierce competition. In this context, technology and digitalization were the chosen paths. And data began to be understood as the basis of digital transformation .
Today, their availability and quality are crucial for uganda phone number lead digital success, as they are part of one of the most important economic assets for the business. This is why this asset must be sustained over time and developed with a vision for the future.
However, data management is often seen as a thankless task. In fact, some managers see data as relevant in the context of digitalisation, but often think of data-related issues as minor details that have little strategic importance.
The problem is that data is abstract and therefore difficult for non-experts to understand. The answer to this challenge lies in training and the democratization of knowledge concerning data analysis and governance in all areas of the business .
So why is it so difficult to create added value from data? What business, technical and organisational challenges need to be solved? What approaches are companies taking and what benefits have been achieved so far? What conceptual, architectural and technological initiatives can support these efforts?
There are many different answers to the intentions of each business. The common denominator that surrounds certain problems around data is the lack of serious investment in data analysis .
A list of strategies to make the most of your data
Everyone agrees that data is important and that its specific use can decisively contribute to improving company results.
However, investing in improvements is often not a real priority because decision-makers actually have little information about their data-related problems and the benefits of investing in them.
Only a few leading companies are pioneering investments in data analysis and governance. It is important that all companies join this initiative where an effective strategy is the starting point to make the most of data.
Below we share a brief guide to keep in mind when adjusting your strategy based on data:
1. A data catalog creates transparency, but requires buy-in from business users
Taking advantage of data requires creating transparency around its value, in order to find, understand and use the right data for individual needs. This applies to all users who make up the company: data consumers from both business and IT.
In this regard, it is essential to provide an easily accessible description of individual data sources, their dependencies and processing flows, correctly define data responsibilities and even maintain a glossary of terms. Data catalog platforms are ideal for this purpose.
2. Data democratization requires a new agreement on how data is handled across the enterprise
It is essential that data producers understand and take into account the data-related needs of data consumers. Data consumers must understand the requirements and constraints of data production processes.
Digitalization and the role of data
Digitalization has become a central point for any company , occupying a prominent place on the agenda of almost all modern companies.
In the face of the pandemic, accelerating processes, automating them and making them more efficient was essential to sustain profitability and stand out against increasingly fierce competition. In this context, technology and digitalization were the chosen paths. And data began to be understood as the basis of digital transformation .
Today, their availability and quality are crucial for uganda phone number lead digital success, as they are part of one of the most important economic assets for the business. This is why this asset must be sustained over time and developed with a vision for the future.
However, data management is often seen as a thankless task. In fact, some managers see data as relevant in the context of digitalisation, but often think of data-related issues as minor details that have little strategic importance.
The problem is that data is abstract and therefore difficult for non-experts to understand. The answer to this challenge lies in training and the democratization of knowledge concerning data analysis and governance in all areas of the business .
So why is it so difficult to create added value from data? What business, technical and organisational challenges need to be solved? What approaches are companies taking and what benefits have been achieved so far? What conceptual, architectural and technological initiatives can support these efforts?
There are many different answers to the intentions of each business. The common denominator that surrounds certain problems around data is the lack of serious investment in data analysis .
A list of strategies to make the most of your data
Everyone agrees that data is important and that its specific use can decisively contribute to improving company results.
However, investing in improvements is often not a real priority because decision-makers actually have little information about their data-related problems and the benefits of investing in them.
Only a few leading companies are pioneering investments in data analysis and governance. It is important that all companies join this initiative where an effective strategy is the starting point to make the most of data.
Below we share a brief guide to keep in mind when adjusting your strategy based on data:
1. A data catalog creates transparency, but requires buy-in from business users
Taking advantage of data requires creating transparency around its value, in order to find, understand and use the right data for individual needs. This applies to all users who make up the company: data consumers from both business and IT.
In this regard, it is essential to provide an easily accessible description of individual data sources, their dependencies and processing flows, correctly define data responsibilities and even maintain a glossary of terms. Data catalog platforms are ideal for this purpose.
2. Data democratization requires a new agreement on how data is handled across the enterprise
It is essential that data producers understand and take into account the data-related needs of data consumers. Data consumers must understand the requirements and constraints of data production processes.