Data as an asset is not only about how organizations of the future manage data, but also about how they can become information-centric organizations with data at the heart of their transformation.
While the view of the value of data has increased the approach to data often has not.
Seeing the value of data requires a fundamental shift in the way organizations understand data.
Data needs to be seen as more than a by-product of business processes.
Data is often seen as a management and technology problem, rather than a business one.
Enabling data as an asset requires a shift in both mindset and approach. An information-centric organization has key capabilities:
- analysis of data uses both “big” and “thick” sources
- integrating internal and external signals data
- enabled with machine learning, NLP, bots, and AI-assisted modeling
- an intentional learning strategy to increase data literacy.
Digital leaders approach data differently than their peers. The key differentiator is the role of IT in accelerating the organization’s focus on the maturity and utilization of data.
Three principles guide the pathway to transformation:
- Develop a modern data architecture built upon cloud, leveraging multiple data sources.
- Establish scaled solutions in analytics, automation, and integration.
- Ensure clear data accountabilities and establish strong data fluency.
The KPMG approach
Wherever your organization is in its understanding of data as an asset, KPMG can help you assess and transform the value of the data within your business.
Data vision and strategy
Define the north star for data’s role in your organization; build an actionable strategy and executable roadmap that prioritizes the highest value targets
Modern data architecture
Build a scalable, flexible, and secure data architecture that is capable of taking advantage of automation, emerging tech, and application marketplaces
Advanced analytics, AI, ML
Harness the power of advanced analytics, AI, and the KPMG sensory network repository that can listen and make sense of 10,000s of market signals
Improve the data fluency of your enterprise through a thorough program that includes skills assessment, culture and leadership development, curriculum design, tools, and data training
KPMG is here to help.
The hardest part is often knowing where to start, but as good a place as any is asking yourself some critical questions:
- Have you identified the specific value and insights you want to extract from your data?
- Do you have clear data accountabilities across the C-Suite?
- Do you have the ability to monitor and interpret data across both internal and external sources?