- The term “Data strategy” is often used ambiguously to cover a wide range of plans and initiatives aimed at using data more effectively.
- These plans can be similarly vague, or more focussed on governance and building long-term capabilities than delivering rapid results.
- Data strategy is rarely focussed on quick wins and short-term performance improvement.
- Taking a long-term outlook means that plans come up against a number of challenges:
- “Business-As-Usual” takes priority, and can prevent business leaders focussing on data, analytics and immediate actions driven by insight
- Businesses lack the technical capabilities to derive actionable insight from data sources and make change.
- Information exists in silos owned by a range of stakeholders, preventing businesses from taking full advantage of the information available.
- All the while, businesses are generating more and more data without generating valuable insight and actions.
Key Question: How can I exploit the value of my data today, while also building a data strategy long-term?
- Data, analytics and information management doesn’t have to take forever. When working with our clients, the JMAN team are always on the lookout for quick wins, alongside longer term plans to build data maturity.
- Businesses can design and implement data-driven change in just 30 days.
Our 30-day Transformation Plan
- Using this 30-day structure, transforming the way a business uses data need not wait for the implementation of a business-wide data strategy
- By identifying pressing business priorities and using the data and capabilities available, businesses can drive better commercial decisions and improve performance straight away
Establish short term priorities
Mine the data and capability available
Deliver targeted change
Measure and scale progress
- Identify business areas that should not wait until a full data strategy is in place
- These may be inflated inefficiency costs or bottlenecks to productivity and growth
- Engage with end users of the insight – what do they need to know or track to make important decisions?
- Understand the data already available
- Identify capabilities required to deliver targeted insight (e.g. industry or functional knowledge, analytical skills)
- Design targeted proof of concepts and analytics, centred around opportunities and inefficiencies in priority areas
- Deliver actionable insight that will support decisions and performance improvement
- Anticipate threats and mitigate risks using historical data and forecasting
- Produce data-driven action plans to target opportunities based on learnings
- Measure the impact of changes implemented
- Identify opportunities to extend the analysis or continuously improve
- Share insights and outcomes with the business
Increasing Analytical Maturity – Driving Towards a Highly Data Enabled Organisation
How this works in practice
- The JMAN team have found that this process fits effectively into our clients’ “hundred-day plan”, delivering rapid results and performance enhancements.
- Each 30-day transformation builds a better understanding of business data, processes and capabilities, strengthening the business for the long term.
Goal: Optimise subcontractor spend
- Analysis of historical procurement demand and cost
- Forecasting of future subcontracted services
- Manage procurement to match business needs and mitigate risk
- Planned, informed purchasing decisions based on cost and procurement terms
- Iterate analysis and drive continuous improvement
- Harness insights to attack new business challenges
- Enable tactical decision making and action that enhances performance
- Inform the overarching data strategy and wider business planning
If you are interested to learn more about our work with teams to build data
and analytics capabilities, please get in touch with our team.