Data Strategy

Data is a strategic asset and at the heart of digital transformation initiatives. A data strategy is a plan for proactively managing data .

The world is growing richer in data and legacy business models and the technology that powers them are not optimized for this world. For any business dealing with any type of automated systems, it is critical to have accurate and timely data, plus the systems that capture, secure and analyze, and to distribute and to act on insights. The data strategy will ensure that correct investment is made and that the return on that investment meets the corporate hurdle rates. 

What are the benefits of a Data Strategy? 

Generate business value, control IT costs and ensure compliance.

Create the best platform for analytics and data science.

Maximize availability of data to improve and refine business processes.

Depending on level of digital maturity, most organizations need to take action in three areas:  

  1. Catch Up: Fixing Legacy Problems to bring the organization’s data assets up to date in terms of compliance and access
  2. Build Infrastructure: Resolving contemporary problems to provide a platform for growth that is dependent on data and artificial intelligence
  3. Commercialize: Undertaking a digital transformation where products and service offerings leverage data and AI as core components

In Data lies opportunity

Every communication, every purchase and every interaction with customers and partners leaves a trail of data. The good news is that with cloud compute and storage, we can retain and process all the data we want. Reporting and Business Intelligence are mature capabilities that provide historical insight using that data.  

Business intelligence helps answer questions we already know and data analytics provides the answers to deeper questions. Digital transformation optimizes current processes for new technology and it also evolves a business with new products and into new markets.

How we help organisations realise these benefits

Data Strategy Accelerator – Designed to rapidly deliver a strategy for data that is now being requested by Boards of Directors to ensure that data is being treated as a source of competitive advantage.

Data Valuation – Creates the business justification for data projects to compete for funding and resources alongside other strategic investments such as plant, machinery and systems replacements.

The Data Commercialization Program (DCP) is a set of actions and interventions to find and generate value from hidden data throughout the organization. The DCP is a facet of of 3PD’s Digital Transformation approach that builds a foundation for an enterprise Data Strategy.