Today, organizations realize that data and analytics provide an essential tool in creating a competitive advantage. Companies that will be able to build the best data capabilities and best data quality today will dominate in the near future, and yet, too many companies embrace data and leave it at just that without changing their core system and operating model.
Many organizations were able to achieve some quick small wins, but scaling up those wins requires a holistic approach to leverage the data and develop the right capabilities that work together in a cohesive Operating Model.
How does Systems Thinking help develop Data Governance that affects the entire organization?
Data Governance consists of four main building blocks: data policies, data tools, data structures, and the organization’s participants and target operating model.
Good data matters not only for complying with regulatory obligations but also to allow an organization to create value and optimize efficiency to meet and anticipate continually evolving customer needs and expectations through advanced analytics, RPA and Artificial Intelligence (AI.)
Is technology enough to improve data quality? Do we have the right organization model in place? How do we define and measure current data quality?