Organisations in the built world are experiencing data as the oxygen to drive the triple helix of digitisation, inclusion and sustainability. As a result they are developing strategies for:
a) the creation of value with data at scale, and
b) sharing data in meaningful ecosystems.
Because the value increases if when combining creativity with scale and the reduction of cost and friction across data ecosystems.
Developing data strategies
Data is not new in the built world, however most organisations have not yet developed strategies for the creation of from data in everything they do. The past two years have been a journey of discovery with the following observations.
Key components of a data strategy might include:
- Vision and commercial framework
- Leadership and governance
These allow organisations to establish key parameters for three delivery platforms:
- Data Infrastructure and science
- Data enabled innovations
- Knowledge, Culture and Practices
Strategies will adapt over time and apply Design Thinking, hence they will need to manage phases to move from a todays fragmented data environment to creativity with data at scale. these phase can be described as:
Phase One: Warm up the organisation, prototype and develop a research narrative.
Phase Two: Scale into core market and clients, adopt new practices in key constituent parts of the organisation and grow capability.
Phase Three: Grow and check (based on measures) that your data enabled transformation is the status and all parts of the organisation are able to create value with data and scale and are participating in key external ecosystems.