Define your data’s target state
Outline your comprehensive vision so that data strategy conversations, and the resulting business process changes, are as meaningful to app engineers and business analysts as to HR and sales. “Many data environments are now dated and rarely have the flexibility to evolve in today’s digital environment,” says Tony Giordano, who leads data strategy, consulting and transformation engagements for IBM.
“But digital requires real-time decisioning capabilities, and the predictive models that provide these real-time decisioning capabilities require data science environments. Increasingly, operational data is now a critical part of your data ecosystem. A modern data architecture requires an integrated data ecosystem with capabilities that need to be managed, governed, and secured to ensure consistent data quality and the flexibility to evolve as the digital channels evolve.”
This level of detail makes changing business processes a little less grueling, since you’re ready to meet concerns with a detailed explanation as to how solutions will make a particular user’s life easier. And that’s a big deal—37% of respondents in a recent survey said data security was their number one challenge, followed by data privacy concerns and managing data pipelines.⁴
Be specific about where application modernization, automation and AI can take your strategy to the next level
The more you learn from your digital transformation and IT strategy, the better your data strategy is. Such insights help drive efficiency, increase revenue growth and mitigate risk, especially when amplified using app modernization, automation and AI.
Lufthansa worked with an IBM team to pilot new AI-based business ideas and services that enhanced customer experience. Previously disparate data sources are now searchable in natural language and aviation terms to more easily address close to 100,000 customer queries annually. “For Lufthansa, AI is so critical because it actually opens up the world of the data that we’re sitting on,” says Mirco Bharpalania, Senior Director, Cross Domain Solutions at Lufthansa Group. “It actually helps us to unlock all the potential that we somehow or somewhere in our databases already have.”
Measure progress toward your goals
We understand what you’re up against. As a data leader, you’re often expected to deliver and quantify major results on three competing fronts: revenue growth, operational efficiency, and mitigating security and privacy risks. Use data for the win to contribute directly to the growth of the company. By establishing metrics of success you prioritize efforts based on what matters most in this moment for your organization.
Don’t forget to look back on your notes from those initial meetings with stakeholders to see how they defined key performance indicators and goals—and how those stack up with current data architecture and AI strategies. Are your metrics delivering on the bold plans that were laid out at the time? If not, it’s time to reconnect and realign. “The CDO role is often very short-lived. The reason is not setting expectations. Make sure you set those expectations and deliver outcomes as you go,” Sankar says.
Capture your data strategy highlights—and share them
At this point, you should be crystal clear on your organization’s priorities and how to use data and AI to deliver and accelerate business value. What are your next gaps to close? A look at the big picture—where you are and what’s ahead—gives you strategic context to make actionable plans for delivery and scale. As you do, include the outcomes, objectives and measures that will keep you on track so you can share them with your enterprise as the journey unfolds. Here’s some of what to include in your data strategy overview:
- Observations, challenges and recommendations
- Objectives, outcomes and measures
- Cross-functional data needs to support multiple use cases
- Data privacy and security needs
Remember: strategy is not just a paper exercise—it is a living and evolving approach. So be creative. Review and optimize frequently based on changing business objectives and goals, and always ensure that your strategy allows for flexibility, agility and human innovation.
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