Data has become an invaluable asset for companies, at least the ones that have unlocked its power or are busy with this process. Companies that are able to unlock the power of their raw data have a head start over their competitors, and thus more and more companies are taking their data analyses more serious. Accenture, a leading “data” company, has developed a data maturity model that charts the enterprise’s journey to data industrialization. The data-maturity of a business depends on five stages, which they explain as: Ad-Hoc, Organize, Tactical, Critical and Industrial. These five stages are set of against five dimensions: governance, architecture, development, regulation & ethics and user support.
The first stage of a company, Ad-Hoc, is a positon a company doesn’t want to be in, at least a company that wants to survive this digital age. In this stage you don’t treat data as a priority and you don’t have a data driven strategy in place. The whole internal structure of the company lacks the availability of a data strategy. Moving through the stages of the maturity model, the excitement and interest for data and its perks grow more and more. So through the stages the importance of data grows until it is fully integrated and is the differentiator within a company. However when is the implementation of data considered to be mature?
“Accenture has developed a data maturity model that charts
the enterprise’s journey to data industrialization.”
Accenture states that a mature data strategy recognizes that data and analytics models are products that differentiate the business in the digital eco system. So, a company should define its objectives and based on those objectives they should define which data to collect and how to obtain that data. The use of the strategy in combination with data defines the maturity of a company in Accenture’s Data Maturity Model.
The important note in the article is that companies should treat their data as a first class citizen, for when you don’t you will lack insight and thus be unable to set a strategy that can compete in this century. Data helps companies get insight and drive decision making processes, and when this data is ‘’clean’’ and reporting is on point, one can speed up their daily processes. Execute the above and you can be considered a data-driven organization in which you maximize the value of your data.
So data is a valuable product within a company, and should be treated as a high priority product. Using your data efficiently can save money, drive decisions and processes and give insight that gives you a head start. The goal of the model is to reach the last stage ‘’industrialization’’, and this stage can be set of against the five dimensions. When this stage has been reached, leaders have access to the best available data whenever it suits them. The only question that arises in my opinion; do you outsource this data procedure or do you build an internal supporting structure? Taking in to consideration; costs, efficiency, talent and core business, what will give a high ROI? I believe outsourcing is the way to go. This way you can focus on your core business and you have experts who guide you in the world of data. Find out more about data and its perks on our website.