It can be difficult to find the right starting point, but for many companies, a data assessment provides a valuable compass. This approach helps companies determine their current baseline and the appropriate future state for each dimension of their data strategy.
A key lesson learned from our clients is to rigorously prioritize. It is not necessary or cost efficient for a company to be fully realized in every aspect of their data strategy; rather, organizations should be selective in identifying where differentiation will create the most value.
With the blueprint from a data assessment in place, companies can begin closing gaps and building toward their desired state one piece at a time. Mastery of the most important components in sequence will result in better outcomes more quickly than pursuing multiple pieces at once.
All journeys will look different and happen on a unique timeline, but with a thoughtful plan and deliberate prioritization, every company can unlock the potential for data to drive better decisions for their business.
The methodology for our study included SurveyMonkey; recruiting via CINT, Dynata, and CapTech; and a qualitative approach. Our team spoke with 27 chief executives and senior leaders across data, information, and technology from organizations with 5000+ employees.