Organisations are collecting more data today than they ever have before. This is driven by evolving digital channels and customer expectations, democratisation of data, proliferation of smart connected technologies and a significant decrease in the cost of general computation and storage. However, only a small proportion of businesses have been able to monetise or unlock value from their data in a way that has enabled demonstrable business impact and long-term competitive advantage.
The gap between truly data-driven organisations and those that report on information continues to widen. This, in our experience, is because converting data into insight and business value requires a fundamental change of mindset and approach, a far more complex challenge than just collecting it and making it available.
Some of the key challenges and pitfalls that we see are:
Making careful investments to understand what data will drive the greatest value, is equally, if not more, important than acquiring the latest technology platform solutions. Organisations have a much higher chance of succeeding in their initiatives when they take a holistic view around the following key elements of their data journey.
Coeus can help with every element of data-driven transformation. Our approach to enabling ‘Data Excellence’ starts with a diagnostic that combines our industry experience with established industry standards (DMBOK, DAMA, CMMI). We create strong cases for change and bring our specific technology expertise to develop or complement the client’s data strategy, recommend the appropriate operating model to speed up execution and support data operations covering all key aspects of the value chain.
Our approach is designed to deliver value quickly and is iterative based on the individual priorities of our clients. We can quickly diagnose gaps in data, and data quality, and where these are impacting key journeys and processes to drive improvement activity that has real impact.
We can apply our deep experience across technology, operating model and IT sourcing, alongside expertise in data, in order to:
Our services enable our clients to develop the much-needed value-centric view of their data and we will stand by them in translating that view into reality. We can support organisations to put data at the centre of transformational activity, whether that is through changes in operating model, application changes, outsource and optimisation of services or meeting regulatory needs.
Richard was nominated ‘Digital Champion 2018’ by the Global Sourcing Association (GSA). View a video of him explaining Data monetisation challenges here [2 mins].
A broad background of technology architecture and programmes, sourcing, and cost modelling and transformation, provides him with a rounded perspective when supporting development of the right design and balance of organisational and skills within modern CIO functions.