Building block #4 - Well-defined and digitized business processes
Radar Group has done a study where they examined the current state and best practice for creating business value with data. During the study, Radar saw several typical attributes of the businesses that had a strategic basis for their data and integration work. These were considered to be "more mature" businesses. A number of these attributes were recurring in all or almost all "mature" businesses.
The business value in your data lies in your business processes and how digital and mature they are
In order to translate data and integration strategies into actual business value, there must be defined and digitized processes in the business.
However, it is not enough that the processes are defined, they must also be implemented, rolled out throughout the business and achieve a high level of compliance. Only then can you see the high impact of your data and integration work.
When the organization reaches a high process maturity, it is also much easier to start automating these processes. Scalability and efficiency lie largely in the degree of automation, so this point becomes extremely important for the whole.
The consequence of increased process maturity is that even more data is created. Data-driven decisions are then facilitated even more in the organization and opportunities to exploit new data-centric business opportunities become both easier and more natural.
Building Block #4 - Recommendation
Our fourth building block for you who want to maximize business value from your data is to focus on your business processes. Define, digitize, automate and roll out.