Gambit or Gamble? Exploit your data value with this successful strategy!

Find your data entrepreneurship

A strategy for data

The most common pitfall of a data strategy is that it becomes an overview of big words only, with a (too!) high focus on technology and analytics. Yet technology should be an enabler. And analytics is just a manifestation. Don’t gamble with data (products), a good data strategy starts with a clear vision, related to market, technology and (regulatory) developments. Include a target operating model to achieve the strategy. But most of all, include on the value of data. Determine use-case types that will create most value. Large corporations have an unparalleled knowledge of industry and markets and are uniquely positioned to oversee this. Of course, there are value-cases for efficiency gains and productivity improvements. Limiting to these obvious values, tends to close doors on new opportunities. Companies must have a clear ambition pathway to data-driven revenue. This new revenue can include rewiring customer interaction, creating a completely new product or business and stepping into new markets.

Data equals assets

In general, there are two flavours when it comes to data within companies. Companies have less data than they realize. Or companies have more data than they realize and have an under-utilization of the data, due to insufficient awareness of its value. Understanding the value of your data is based on 5 pillars:

  • History
  • Privacy
  • Integration
  • Extension
  • Data entrepreneurship

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D8A Directors

D8A Directors

D8A challenges the status quo and drive progress. We don’t deliver what companies ask, we deliver what companies need! Our views are our own. Go to: www.d8a.eu.