Data Strategy

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We can help define your Data Use-cases

Data StrategyOur goal is to help our clients make money through and with data. We can help brainstorm on data use-cases, define a business strategy and build a roadmap to turn into intro ROI. Knowing your use-cases and ROI is key before looking into technological solutions. 

Data Strategy

 
"Our Data Strategist act as a catalyst to co-develop your strategy.
We help define key initiatives and deliver change."

Peter Depypere, Data Strategist

 

 

What's a Data Strategy?

A Data Strategy is a vision and an action plan, describing how you want to achieve your business goals through data. 
  • It's a Strategy and as such, shared and embraced across your entire organization. The strategy defines the 'how to' and the difficult choices an organization has made to (not) do something. 
  • It's Visionary. It looks beyond what is possible today and it defines the ultimate goal how your organization wants to work with data in the future.  
  • It's Actionable because it defines what you'll do, how you'll do it and when you'll do it.

At element61 we help define use-cases in our custom use-case template. This template defines every data use-cases on various dimensions including organizational impact, data availability, technical complexity and financial potential

 

What does a Data Strategist do?

A Data Strategist acts as a catalyst to brainstorm on data use-cases yet also make ideas concrete

  • He/she has experience and has accumulated business maturity to guide you through your strategic reflections. 
  • He/she has functional expertise in a domain being marketing, sales, finance or supply chain
  • He/she has knowledge of Data & Analytics. Although he/she isn't a hardcore technical expert, a data strategist knows what is possible and how it should be delivered.
  • He/she is hands-on in delivering change. The data strategist goes beyond the analysis in order to support you in explaining and implementing change within your organization. 
  • He/she helps to build awareness and educate teams within your organization. A data strategist helps to communicate the strategy and motivates everyone to achieve the goals. 

 

How can we help your Data Strategy and what is our approach?

Our data strategists help organizations build and grow a data-driven business. We give your overall business strategy a concrete data strategy and help guide in turning data into value.
Following five elements are tackled in every data strategy project we engage in:  

  1. We deep-dive on your business problems
  2. We define a clear roadmap before diving into technical solutions
  3. We prioritize use-cases and initiatives based on multiple dimensions like complexity, speed-to-market, expected return and change
  4. We co-develop these initiatives and help you in tackling them one-by-one
  5. We act as a translator between your business problems and a data-driven solution

 

What's the Return-on-Investment in pursuing a data-driven business?

We hear four main reasons why our customers invest in becoming a data-driven organization.

Data Strategy

  1. Gain insight and agility

One of the biggest reasons to apply data analytics in your organization is to gain insights into your customer base, supplier base, advertising spend, ... It helps you discover patterns, insights and knowledge that without analyzing the data, would be impossible to discover. With these insights, you can act more agile and take better decisions. It thus helps you to be more efficient in what you are already doing. 

  1. Build a competitive edge

Building on top of the insights, you can turn your data into a competitive asset. A great example of this is the true use of a loyalty card. Instead of only capturing the data, you start analyzing it, gathering insights out of it and start using it for personalized communication, product offerings and advice. Through the use of your data, you gain a competitive edge over your competitors.

  1. Open new business opportunities

Data analytics can also result into opening up new business opportunities. Building a service around your data analytics practice requires a solid foundation but once the foundation is there, the opportunities are endless. A classic example here is the servitization of hardware. Rather than selling hardware equipment, a service is sold with an SLA on the uptime. In order to maintain this SLA, the vendor now needs to understand what his equipment is doing in order to proactively react to defective machines.

  1. Redefine customer service

Nowadays, customers expect a better and personalized service. By applying data analytics, you can understand what your customer wants, at what time and how he likes to be supported. Furthermore, you can include the use of chatbots into your service organization to have an always on customer service.

Do you have difficulties in defining your next steps to get value out of your data? Do you want to gain new insights and build out a competitive advantage? 

Do not hesitate to contact us for more information. 

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