Data Strategy
A well-thought-out data strategy is essential for making informed decisions, increasing efficiency, and improving customer experiences. It can also help you achieve business goals and assert yourself in the digitized and globalized world.
The development and implementation of this strategy is the basis for any further data-related activities.
Our process
Status quo survey
- Preparatory measures to organize appointments & necessary access, creation of a stakeholder map, etc. incl. kick-off meeting
- Targeted workshop(s) and discussions with managers to sharpen understanding of important corporate goals and KPIs
- Exploratory interviews with previously identified stakeholder groups to record the current situation
- Review of any documentation
Development of objectives and target picture
- Consolidation & analysis of the status quo results as well as targeted queries to managers and stakeholders as required
- Derivation of a concrete target image based on the consolidated & analyzed status quo results
- Collection & prioritization of concrete use cases with the specialist departments
- Design of 3-5 top prio use cases for faster implementation after strategy creation
Strategy development
- Derivation of concrete recommendations for action recommendations along the TDI framework
- Derivation of a roadmap for the step-by-step and use case-based implementation of the recommendations for action recommendations
- Creation of an executive summary presentation with the key project results and a detailed strategy document
- Presentation of the executive summary & handover of the strategy document
The Business Impact of Your Data Strategy: We Create Your Roadmap to Value Creation
Our Mission: The Roadmap
For us, a data strategy is the clear plan for how you transform data into a business advantage (monetization). We help you move from vision to an actionable roadmap.
We focus on the short-term implementation of quick wins and the sustainable transformation of your organization.
The Measurable Impact
Forecast accuracy increased by +15% (e.g., babymarkt.de)
100% targeted IT investments
80% less manual reporting effort
Data-driven use cases in 6 weeks
*Facts based on our work for e.g., babymarkt.de & MediaPrint
Your Path to Strategic Competitive Advantage
We start with a Data Audit, develop a clear strategy and action plan that encompasses architecture, organization, and change management. We deliver an actionable roadmap instead of a paper tiger.
Schedule a Free Initial Consultation for Data Strategy
Do you still need the fundamentals, definitions, and all background information on data strategy? All information that doesn't directly relate to your 5-stage process can be found centrally in our expert guide.
This is how we go about establishing a data strategy
From the basis to definition to implementation — we at The Data Institute support you on the journey to a data-driven company.
Create the basis for the data strategy
As a first step of cooperation, we are happy to introduce Data Audit Through to gain transparency and an overview of the current status quo not only for us, but also for the company. This usually creates some aha effects and reveals low hanging fruits and use cases that can be worked with in the next steps.
Define goals for data strategy
The goals must then be set for a strategy. The data strategy is derived from the corporate strategy and is inextricably linked to the company's goals. In Cooperation with Various Stakeholders, We Set Short, Medium and Long-Term Goals with Regard to New Products, Process Optimization or Customer satisfaction. The goals set should be verifiable through time-defined milestones.
Define data sources, revise dashboards and visualization
The Data Audit provides an overview of the data sources that are used in the company and the stakeholders who should have access to data. In order to enable efficient self-service, the next step should be to address the dashboards and visualization, as well as the data sources and processes through which data is collected and processed in the company.
Establish data governance and create transparency
No strategy without regulations! Data Governance Provides an overview and ensures that guidelines are set for use in the company. This involves coordinating and combining the work of various stakeholders and managers within the company, including ensuring compliance with legal requirements, secure access to data, and reducing risks and costs.
Culture eats Strategy for Breakfast
The data strategy must fit the company - and yet it requires a cultural change. This must be accompanied and exemplified in order to finally enable and support all employees to incorporate data into their daily work, use their own dashboards and make decisions based on these.
Zum Ultimate Guide: Fahrplan für datengesteuerten Erfolg
Data Strategy in Our Framework
We always work with the organization, culture and architecture framework.
Because in our opinion, these 3 areas are the most important factors for successfully anchoring data in the company in the long term.
The data strategy comprises exactly these three factors.
The organization Determines who has access to which data that architecture Provides the Technological and Data Modelling Framework and the Culture Enables employees to enjoy working with data in the long term, because it structures how data is collected and processed.
The Data Institute — the strong partner in establishing a data strategy
We want companies to quickly get an impact and see what they can do with data. At the same time, we have an overall view of the company and want to implement long-term strategies that enable employees to work with data independently.
What services can be combined withData Strategy?
Case studies on the subjectData Strategy
You can find suitable examples of our work on this topic in the following case studies:
Data news for pros
Want to know more? Then subscribe to our newsletter! Regular news from the data world about new developments, tools, best practices and events!
