I was approached recently by the Board member of an organisation who felt they had a great opportunity to monetise their data and had a vision to create a world class data and insight capability. He was after visibility of company performance and the ability to influence and steer the business more closely. He had a feeling there was knowledge locked away in their data that wasn’t landing or visible enough for setting strategy and running the business. And they had massive revenue and EBIT growth targets. His view was that they had made no progress in this space and therefore made it a strategic priority up their with ‘hit sales targets’.
As it turns out and speaking with the broader team they had actually been plugging away at solving their data challenges over the last couple of years. They had invested in a data discovery tool, had delivered a fair amount of data, dashboards and reports to the various teams within the organisation, had gone with a self service model, had developed applications to deliver high level board commercial metrics, had created solutions for sales and operational teams to get insight, manage the operations and unpick whats going on in the business.