Do you know where your data journey goes to and does your data strategy provide a tangible benefit to your company? To get the most value possible from your data and data strategy, you need to understand where your company’s specific challenges lie and what action is required. This PwC study provides in-depth analysis of the five key factors that drive any successful data strategy and explains the three data strategy archetypes to which companies typically belong. Determining your company’s archetype allows you to draw specific conclusions, identify concrete measures for action and then capitalise on it.
'When working with our clients on the definition of their data strategy and the implementation roadmap, we regularly face the question: ‘How have others done it?’. In response to this, we conducted our research which led to the findings in this study.'
We surveyed more than 50 companies on four different continents and interviewed more than 20 experts and leaders in the fields of digitalisation, data analytics (D&A) and digital transformation – covering the areas of finance, pharma and life sciences, automotive, manufacturing, consumer goods and services, utilities and the public sector.
Our research revealed that five decision topics are the foundational elements of any data strategy, and they influence all subsequent data strategy decisions:
“With this study, you will get a structured framework that guides you through the most important topics that make up a successful D&A strategy and supports you in making conscious decisions about your implementation roadmap.”
The foundational, decentralised archetype represents companies and organisations that are either at the beginning of their data journey or have not yet developed or implemented an overall vision of what their D&A capabilities must include, what they want to achieve with their data initiatives and what their data-driven business model of the future should look like.
Such companies typically show a low level of data maturity. They are in an organic default position with decentralised and scattered data governance. They have not yet harmonised their principles; their tools and D&A activities are not coordinated.
The centralised archetype 2 represents companies and organisations that choose a uniform approach to governance for standardised processes. Archetype 2 companies typically follow uniform principles and have strong regulations for common tools and platforms. Their D&A activities are centralised. Such companies develop a strategic vision and put strong emphasis on harmonisation. They exhibit a more advanced and more conscious level of data maturity than archetype 1 companies.
The embedded, decentralised archetype 3 represents enterprises that have a high level of data maturity. These companies tend to have harmonised governance, while keeping flexibility in the individual business units. They have templates and a knowledge library for principles, tools and D&A activities. At the same time, they are flexible in their use and application. Archetype 3 companies have a developed strategic vision, characterised by a balance of harmonisation and flexibility.
Do you want to learn more about how implementing an enterprise data system benefits your organisation? Download our comparative perspective on data strategies.
Partner, Data Transformation & Analytics Leader, PwC Switzerland
Tel: +41 58 792 13 96