What is an Enterprise Data Strategy?


In the digital era, data is the enterprise’s most valuable asset. The number one question we encounter is how to turn the volumes of data pouring into an enterprise’s business ecosystem into a value-generating asset. The answer lies in developing an enterprise business strategy and enterprise data strategy in parallel.

Enterprise data strategy begins with effective data management and intertwines it with business strategy – the data is the fuel that drives sustainable growth.

In order to compete at a new level in the digital age and avoid disruption, a game plan to collect, analyze, and draw objective insights from a company’s data universe has become a top priority in the CEO suite. Monetizing data as the engine of growth has emerged as the critical link between your business strategy and the specific actions that your organization takes to execute it.

What is an Enterprise Data Strategy

Building a Holistic Enterprise Data Strategy


Digital evolution has made the continuous generation of big data a constant. Structured and unstructured data from both internal and external sources must be ingested, organized, stored, and leveraged by applying advanced analytics.

A holistic enterprise data strategy leverages multidimensional capabilities to deliver the desired impact from all data generated in your ecosystem. An effective strategy prioritizes the maintenance and improvement of data quality, integrity, and accessibility. Data management, when aligned closely with business objectives, significantly drives the execution of the strategy.

 

Graphic depicting Trianz data stewardship and organization model as part of enterprise data strategy

Copyright © 2021 Trianz

Enterprise data strategy consists of:

  1. Data ingestion and storage

  2. Offensive and defensive use of datasets

  3. Establishment of a single source of truth (SSOT)

Also, in today’s security-conscious world, data security has emerged front and center. Many companies are balancing their desire to monetize their enterprise data with the rigor of data security, especially when it comes to customer information.

Your company’s data storage ecosystem should enable you to extract the maximum value from your datasets to gain solid insights while also being secure enough to protect the integrity of customers’ personal information.

Organizations such as financial institutions and hospitals use datasets more defensively, and we can learn from these industries. Companies should prioritize stringent risk assessments to safeguard information. In the age of mass data breaches, securing customer data is not only important for their privacy, but also for your reputation as an enterprise.

In addition to security, there is also the matter of master data management (MDM) and the creation of an SSOT, the subject of another thought leadership paper. These two essentials form the foundation of enterprise data strategy because they clean and centralize all business data and improve 1) access to facilitate proper data governance and 2) the ability to apply advanced analytics and extract insights.

This ensures that all your enterprise data is high-quality and streamlined, enabling your business to generate valuable, actionable insights.

×

With Big Data comes, big responsibilities and challenges too! The fact of the matter is that a solid data architecture foundation, management, and governance is key to realized targeted outcomes and business success. It’s an investment worth making to not only ensure data quality and reliability, but meeting compliance requirements as well as improving decision making.

Why Is an Enterprise Data Strategy Important?


In a real-time world, you cannot afford a lag in insights delivery, nor can you rely on assumptions-based recommendations that could be inherently outdated.

As we have learned from our own research, one of the key reasons why digital champions – which is what we call the 7% of companies that succeed with their digital transformations – are differentiated from their competitors is that they utilize data to drive their business strategy, transformation strategy, and business and IT operations monitoring and improvement.

Digital Champions Use Data to Drive
Strategy and Operations

Graphic depicting the prioritization of digital champions in strategy definition and digital transformation and business operations and IT operations

Source: Trasers

Trianz’ IP-Driven Approach to Enterprise Data Strategy


Drawing from the knowledge we’ve gained from numerous engagements, Trianz employs a rapid-fire approach to designing an organization’s data strategy. Our toolkit has frameworks, designs, and technology alternatives that address several business needs.

The frameworks that our experts have constructed consist of pre-configured key performance indicators (KPIs) that we tailor based on your business strategy and performance metrics. Our thorough digital KPI frameworks form the objective, quantifiable standard that a company, function, or business/IT operation needs to achieve.

These conceptual frameworks based on our multi-year research on digital transformations worldwide, help to visualize each major business operation or function post-digitalization. With some curation, our KPIs help with the competitive benchmarking of your strategic capabilities to see where you stand. Knowing where to start will enable us to help you channel your efforts in the right direction.

The next step is to help enhance your capabilities in the following areas:

Competitive Benchmarking

Competitive Benchmarking

Comparing analytics capabilities against peers and best-in-class.

Data Stewardship

Data Stewardship

Organizational model, roles and responsibilities, and collaborative interfacing across the enterprise.

Data Ecosystem Mapping

Data Ecosystem Mapping

Industry-specific, business-function-level mapping of data residing inside and outside the company.

Data Quality Management

Data Quality Management

Processes and technology alternatives for DQM.

Data Life Cycle Management

Data Life Cycle Management

Master Data Management (MDM) and data governance process frameworks and rules for the full life cycle.

Leading and Lagging KPI Frameworks

Leading & Lagging KPI Frameworks

Pre-configured KPIs that will be tailored based on your business strategy and performance metrics.

An Approach That Can Transform Your Organization


Trianz’ enterprise data strategy consulting approach begins with understanding your organization’s unique business needs, which helps us create a solution that will turn your data stockpile into one of your greatest assets. Our expert data strategy consultants have helped hundreds of clients by performing in-depth analysis and contributing to unique developments that maximize the value of their growing data pools.

Learning how to take control of your data and use it effectively to your advantage is vital to your success in the dynamic digital marketplace. We will stand with you during your data-to-insights journey, enabling access to high-quality, secure, and relevant streams of information that will give you an edge over the competition.

Armed with good data, a thorough analysis, and well-presented insights, your leadership will be better positioned to make strategic decisions that lead to greater business impact.

Experience the Trianz Difference

Collaborating with business and technology leaders, we help formulate and execute operational strategies to achieve intended business outcomes by bringing the best of consulting, technology experiences and execution models. Powered by knowledge, research, and perspectives, we enable clients to transform their business ecosystems and achieve superior performance by leveraging Infrastructure, Cloud, Analytics, Digital and Security paradigms.

With offices in Silicon Valley, Washington DC Metro, Jersey City, Sydney, Singapore, Kent, Dubai, Bangalore, Hyderabad, Chennai, we serve Fortune 1000 and emerging organizations across industries globally. As a professional services firm, our values and culture are focused on delivering measurable business impact, predictability in execution, and a unique partnership experience. Reach out to get in touch or learn more.

managed_service

State of Digital Transformation
Worldwide 2020 Report

Download Report

Meet Our Practice Leaders

Satya Madakshira

Director
Analytics Practice

Jacob Samuel

Vice President
Digital & Analytics Practice

Get in Touch

Let us help you
transform and grow


Let’s Talk

x

Status message

We're eager to assist you! Please leave a message and we'll get back to you shortly.

By submitting your information, you agree to our revised  Privacy Policy.