Data has quickly become one of the most valuable assets in any organization. But when it comes to strategically and effectively managing those data assets, many businesses find themselves playing catch-up. The stakes are high because ineffective data management practices can have serious consequences, from poor business decisions and missed revenue opportunities to critical cybersecurity risks.
Successful management and consistent delivery of data assets requires collaboration between the business and IT and the right balance of technology, process, and resourcing solutions.
Build an effective and collaborative data management practice
Data management is not one-size-fits-all. Cut through the noise around data management and create a roadmap that is right for your organization:
- Align data management plans with business requirements and strategic plans.
- Create a collaborative plan that unites IT and the business in managing data assets.
- Design a program that can scale and evolve over time.
- Perform data strategy planning and incorporate data capabilities into your broader plans.
- Identify gaps in current data services and the supporting environment and determine effective corrective actions.
This blueprint will help you design a data management practice that builds capabilities to support your organization’s current use of data and its vision for the future.
Member Testimonials
After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.
9.8/10
Overall Impact
$33,624
Average $ Saved
15
Average Days Saved
Client
Experience
Impact
$ Saved
Days Saved
Immigration and Refugee Board of Canada
Guided Implementation
10/10
$2,000
4
Agriculture & Agri-Food Canada
Guided Implementation
10/10
$5,000
10
Having reference material to build from that has all the research and analysis pre-done and vetted
Société des Mines d’ITY S.A.
Guided Implementation
9/10
$32,499
10
good approach
Chief Industries, Inc.
Guided Implementation
10/10
N/A
2
Rajesh helped us towards a decision.
Agriculture & Agri-Food Canada
Workshop
10/10
$95,000
47
Best part of the experience is being obtaining tangible steps, techniques and processes to work on in the next 2 years to mature our data managemen... Read More
Inmarsat Solutions Canada
Workshop
8/10
$1M
N/A
Create a Data Management Roadmap
Ensure the right capabilities to support your data strategy.
Contents
Executive Brief |
Analyst Perspective |
Executive Summary |
Phase 1: Build Business and User Context |
Phase 2: Assess Data Management and Build Your Roadmap |
Additional Support |
Related Research |
Bibliography |
Create a Data Management Roadmap
Ensure the right capabilities to support your data strategy.
EXECUTIVE BRIEF
Analyst Perspective
Establish a data management program to realize the data strategy vision and data-driven organization.
Data is one of the most valuable organizational assets, and data management is the foundation – made up of plans, programs, and practices – that delivers, secures, and enhances the value of those assets.
Digital transformation in how we do business and innovations like artificial intelligence and automation that deliver exciting experiences for our customers are all powered by readily available, trusted data. And there’s so much more of it.
A data management roadmap designed for where you are in your business journey and what’s important to you provides tangible answers to “Where do we start?” and “What do we do?”
This blueprint helps you build and enhance data management capabilities as well as identify the next steps for evaluating, strengthening, harmonizing, and optimizing these capabilities, aligned precisely with business objectives and data strategy.
Andrea Malick
Director, Research & Advisory, Data & Analytics Practice Info-Tech Research Group |
Frame the problem
Who this research is for
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This research will help you
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This research will also assist
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This research will also help you
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Executive Summary
Your Challenge
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Common Obstacles
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Info-Tech’s Approach
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Info-Tech Insight
Use value streams and business capabilities to develop a prioritized and practical data management plan that provides the highest business satisfaction in the shortest time.
Data Management Capabilities
Data is a business asset and needs to be treated like one
Data management is an enabler of the business and therefore needs to be driven by business goals and objectives. For data to be a strategic asset of the business, the business and IT processes that support its delivery and management must be mature and clearly executed.
Business Drivers
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Data Management Enablers
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Industry spotlight: Risk management in the financial services sector
REGULATORY COMPLIANCE Regulations are the #1 driver for risk management. |
US$11M:Fine incurred by a well-known Wall Street firm after using inaccurate data to execute short sales orders. |
“To successfully leverage customer data while maintaining compliance and transparency, the financial sector must adapt its current data management strategies to meet the needs of an ever-evolving digital landscape.” (Phoebe Fasulo, Security Scorecard, 2021) |
Industry spotlight: Operational excellence in the public sector
GOVERNMENT TRANSPARENCY With frequent government scandals and corruption dominating the news, transparency to the public is quickly becoming a widely adopted practice at every level of government. Open government is the guiding principle that the public has access to the documents and proceedings of government to allow for effective public oversight. With growing regulations and pressure from the public, governments must adopt a comprehensive data management strategy to ensure they remain accountable to their rate payers, residents, businesses, and other constituents. |
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Industry spotlight: Operational excellence and client intimacy in major league sports
SPORTS ANALYTICS A professional sports team is essentially a business that is looking for wins to maximize revenue. While they hope for a successful post-season, they also need strong quarterly results, just like you. Sports teams are renowned for adopting data-driven decision making across their organizations to do everything from improving player performance to optimizing tickets sales. At the end of the day, to enable analytics you must have top-notch information management. |
Team Performance Benefits
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Industry leaders cite data, and the insights they glean from it, as their means of standing apart from their competitors. |
Industry spotlight: Operational excellence and service delivery within manufacturing and supply chain services
SUPPLY CHAIN EFFICIENCY Data offers key insights and opportunities when it comes to supply chain management. The supply chain is where the business strategy gets converted to operational service delivery of the business. Proper data management enables business processes to become more efficient, productive, and profitable through the greater availability of quality data and analysis. Fifty-seven percent of companies believe that supply chain management gives them a competitive advantage that enables them to further develop their business (FinancesOnline, 2021). |
Involving Data in Your Supply Chain
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Industry spotlight: Intelligent product innovation and strong product portfolios differentiate consumer retailers and CPGs
INFORMED PRODUCT DEVELOPMENT |
Consumer shopping habits and preferences are notoriously variable, making it a challenge to develop a well-received product. Information and insights into consumer trends, shopping preferences, and market analysis support the probability of a successful outcome. |
Maintaining a Product Portfolio
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Internal Data
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Changes in business and technology are changing how organizations use and manage data
The world moves a lot faster today
Businesses of today operate in real time. To maintain a competitive edge, businesses must identify and respond quickly to opportunities and events. To effectively do this businesses must have accurate and up-to-date data at their fingertips. To support the new demands around data consumption, data velocity (pace in which data is captured, organized, and analyzed) must also accelerate. Data Management Implications
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Studies and projections show a clear case of how data and its usage will grow and evolve.
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To differentiate and remain competitive in today’s marketplace, organizations are becoming more data-driven
Analytic Competitor“Given the unforgiving competitive landscape, organizations have to transform now, and correctly. Winning requires an outcome-focused analytics strategy.” (Ramya Srinivasan, Forbes, 2021) |
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Data and the use of data analytics has become a centerpiece to effective modern business. Top-performing organizations across a variety of industries have been cited as using analytics five times more than lower performers (MIT Sloan). |
The strategic value of data
Power intelligent and transformative organizational performance through leveraging data.
Respond to industry disruptors |
Optimize the way you serve your stakeholders and customers |
Develop products and services to meet ever-evolving needs |
Manage operations and mitigate risk |
Despite investments in data initiatives, organizations are carrying high levels of data debt
Data debt is the accumulated cost that is associated with the suboptimal governance of data assets in an enterprise, like technical debt.
Data debt is a problem for 78% of organizations. | |||
40%of organizations say individuals within the business do not trust data insights. |
66%of organizations say a backlog of data debt is impacting new data management initiatives. |
33%of organizations are not able to get value from a new system or technology investment. |
30%of organizations are unable to become data-driven. |
(Source: Experian, 2020)
The journey to being data-drivenThe journey to becoming a data-driven organization requires a pit stop at data enablement. |
The Data Economy
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Measure success to demonstrate tangible business valuePut data management into the context of the business:
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Don’t let measurement be an afterthought:Start substantiating early on how you are going to measure success as your data management program evolves. |