The world is awash with buzzwords about the importance of data to your organisation: “data is the new oil“, and the “data-driven-enterprise“, not to mention big data, data lakes, data refineries and other exotica. But, and this is key, what data is actually important to you? Is all data equal or is some data more important than other data? And shouldn’t the way you treat your data be related to how important it is? If you had a Ming vase wouldn’t you be more careful with it than a vase bought at Wal-Mart? Shouldn’t you take the same approach with your data?
Clearly, the answer is yes. It should be yes. But in many organisations the answer is no. Where is the failure? We would argue that the “care” of data has been largely undervalued, despite the clear agreement that data is a strategic asset. The failure is in the execution of a digital strategy that focuses on the valuation, management, and governance of the data that drives vital business processes.
In this paper we will discuss in more detail why we believe that understanding the business value of data is fundamental to a successful digital transformation. We will then go on to discuss one company’s value-driven approach to providing the necessary self-service tools to the business.