Four steps to data-first modernization
A strategic guide to taking your enterprise through data-driven modernization
1. Create a CXO-driven data strategy
A data-first strategy means a business strategy that is enabled by objective data. This must be developed from the top because it requires commitment as well as cultural change. And it won’t happen overnight.
The strategy should put formalized processes in place to quantify the value of different types of information, leveraging the skills of a chief data officer (CDO), who should form and chair a data governance committee. Mandatory participants should include people from data science and analytics, data management, and information security, as well as key line-of-business (LOB) functions. The CDO’s job is to encourage the development of better data-first processes and formally adopt analytics and other tools across the organization.