What is data strategy?
Using data to its maximum potential
A data strategy is a vision for how your organisation will generate, process, organise and share data. So you can maximise its value. A data strategy within the private capital markets will typically seek to:
Provide a framework
In order to govern your approach to data across the organisation.
Thereby unlocking the unique insights your data can provide.
That is required to analyse your data and produce reports.
The accuracy and integrity of your data.
In the beginning
Your existing procedures are all shaped by a variety of legacy factors. So, your evolving user demands and needs may be incompatible with these. Because with a lack of a collective approach to data sharing, data silos, disparate sources, and differing uses of data, the challenges can be endless. It can often look like this before we work with clients,
Our data strategy process
The starting point to control your data is an enterprise review. So you can enhance its value creation possibilities. We address these challenges in a structured manner. By using a five phase approach to data strategy projects. Thereby allowing clients to understand their current state and their target state.
We carry out an organisation level review of your current systems and data strategy.
In order to provide insight into areas for improvement and future goals, we hold stakeholder workshops.
Stages 1 and 2 are combined into a data report and road map.
Projects are identified and work undertaken to begin the data transformation.
In order to ensure you remain at the cutting edge of technology, your data strategy is refined.
The ideal target state
Whilst no two organisations are the same, we always strive for the ideal target state. So, following completion of a data strategy project, our clients are left with an approach to data that efficiently supports their required use cases. Because we open up data silos and, above all, provide users with access to the data they need. In order to generate value for the business. It looks like this.
With significant experience in our domain, we have many examples of how we have helped businesses solve problems and challenges. Always delivering compelling and useful solutions. Here’s just one example of how we helped move a client from a legacy eFront product to the latest version of Front Invest Ready.
Our team of experts is ready and waiting to discuss your unique needs.