A client recently said to me, “We are a data company”, during a conversation about her company's strategy. Like many executives, her aspirational vision of the company was different than how the company currently operates. When I asked what she meant by this statement, she described a goal where the company would leverage its data - their core asset - to gain competitive advantage in the market place.
Today’s executives recognize that data is key to their competitive success, yet very few companies have been able to create business value from data in the same way they do from other corporate assets.
Becoming a “data company” is more than simply investing in Big Data or Advanced Analytics. Becoming a data company requires developing the culture and operational capabilities to make data become a part of how the organization thinks and acts every day.
In speaking with other clients, I realized there is a common gap between the executive vision of being a data company and how their organizations operate. None of the executives that I spoke with had a plan to align their vision with their tactical operations, which indicated they were not likely to come one. Yet everyone I spoke with either thought they were already a data company (though not acting like it) or that they could become one by simply investing in technology. Over the course of my career, I've learned that a common failure point of transformation programs, like the shift around data, is a disconnect between enterprise strategy and tactical program delivery.
Becoming a data company is not as simple as flipping a switch, it is a significant undertaking for any company. It requires creating a new way of thinking about and operating the business. So why weren't the organizations we spoke with able to close the gap between between vision and reality? Simply because they did not have a realistic plan with a logical approach for aligning the entire organization around the journey to becoming a data company.
Determined to address this gap, our team analyzed existing data maturity frameworks, combining best practices from each and improving upon the gaps we found. The result is the Agile Data Maturity Model (ADMM). The ADMM is a scalable, executable plan that shows organizations where they are on their journey – and how they need to evolve to become a data company.
Want to know more?
- Stay tuned for Part 2: where we can describe the Agile Data Maturity Model (ADMM), an implementable framework the helps organizations complete their journey to becoming a Data Company.
- Take our free 5-minute assessment to see where your company stands on the ADMM model.
Vikas Arya is Principal, Strategy for xScion.