Data Analytics Strategy

Data And Analytics (DAA) benefits are attractive, but will not likely be achieved unless there is an effective strategy for doing so. DAA strategy supports enterprise strategy and gives DAA and its critical enabler Enterprise Information Management (EIM) a seat at the executive level of the organization. The Data Strategy has come to be on the same level of importance as other strategies like financial, customer, operations and people strategies.

What is the best way to create the DAA Strategy? We recommend a Six Step approach to developing the DAA Strategy. These steps are illustrated in the following diagram,

In summary, the steps are:

• Step 1: Establish the Initiative – set scope and objectives; get the right sponsor; begin change management process; find DAA consultant(s); and produce the project plan.
• Step 2: Assess the Current State – determine the existing maturity levels for DAA, EIM and DM using maturity level questionnaires.
• Step 3A: Determine Needs and Opportunities – discover and document the business needs and opportunities using proven methods including: PESTLE, SWOT, BMC, BSC, Strategy Mapping and Strategic Themes.
• Step 3B: Determine Target State - specify goal maturity levels for each capability in the DAA, EIM and DM maturity models which are needed to enable the Strategic Themes.
• Step 4: Determine Gaps – determine the difference between current state and target state for each maturity capability.
• Step 5: Produce Recommendation and Roadmap – create the final report which will include findings from prior steps: Needs and Opportunities, Target Maturity, Current Maturity and Gaps. Also include recommendations and a step by step roadmap.
• Step 6: Transition to Ongoing – move ahead with a sustained effort to make DAA a successful part of the enterprise culture using Change Management methods.

The DAA community should be strategic partner and collaborate with executive management. (Create your own seat at the table cartoon.)