Key Insights
- An enterprise’s data strategy has become a critical part of its business strategy. Every enterprise will have a different approach, but at every stage in its evolution, treating data as an asset is critical to competitive success
- Two broad approaches are in play to monetize the resources being poured into managing big data: : “Offensive” strategies, to monetize data through new products and services, and “defensive” strategies, to monetize through cost savings
- C-Level mandates are critical. Legacy obstacles in technology, culture, organization, and strategy are too heavy to move without strong executive push
- Village-style collaboration is also critical. Communication and teamwork between IT and business units have never been more important, or more effective. Internal communications on initiatives, terminology and successes make a real difference
- Quick wins matter. In the tension between upgrading the technical foundation and solving real business problems, small and fast successes build confidence and support
- Addressing the fundamentals is the first step towards success. Even if it’s not yet clear to every enterprise exactly how data will affect its future business results, it is clear that without a strong technical foundation, those results are at high risk