Target Audience: CX professionals; Data Scientists; data management and strategy practitioners

Reading time: 5 Minutes

Key takeaways:

  • Data must underpin your organisation if it wishes to attract and retain ‘connected digital customers’
  • An organisation’s digital maturity must be assessed relative to their ultimate goal (i.e. their ‘North Star’ vision)
  • Organisations that invest in point solutions to solve short term data challenges will struggle long term to transform and develop their maturity

Think differently about data driven transformation

Published: Thursday, 23rd July 2020 by Joe Cripps, Product Manager, D4t4 Solutions plc

As everybody knows, we are in the age of the customer and organisations from all industry verticals must transform both their operations and their marketing in order to provide their customers with the fully connected, seamless experiences they demand in every channel. This rhetoric has been bandied around for many years now, but what does it mean in practical terms? And how can an organisation who has committed to a program of data-driven transformation set the right goals then make the best decisions in order to get to their chosen destination; all while delivering clear return on investment at every stage?

It doesn’t help that you and your organisation have to contend with a confusing market of data solution and service providers who all promise to provide the answer to these transformation challenges. Of course, our organisation is among them! , D4t4 recognised there would be value in trying to alleviate this dilemma and commissioned a study across our global customer base to more deeply understand the approaches organisations are adopting to make the pivot to becoming a data-driven business It looked at how organisations across a range of industries including retail banking, insurance, telcos, travel and retail are addressing their transformation initiatives, the use cases they are focused on and the challenges and value (ROI) they are achieving along every step of this journey. This has resulted in a 2-part whitepaper - Think Differently about Data Driven Transformation and Accelerating your Data Driven Transformation - where we outline the findings and share the valuable insights which centre around a new 5 stage model of data maturity.

Tony Brown, a banking data expert who specialises in data driven transformation led this insight study. Tony is the founder of an independent consultancy, Prickly Cactus, which is focused on enabling enterprises to deliver their transformations and shortening their time to value from technology investments. He was formerly Head of 1 to 1 Marketing for Lloyds Banking Group and then VP of Product Management for Teradata.

This month we released part 1 of this paper: Think Differently about Data Driven Transformation (click here to download it) and next month we will be releasing the second paper Accelerate Your Data Driven Transformation. Part one focuses on identifying both the benefits and challenges of transformations which place data at the heart of an organisation’s operations. It identifies and describes in detail the 5 stages of maturity which must be navigated on their journey to becoming truly data driven. Part 2 addresses the practical challenges associated with ascending the maturity scale and provides a best practice guide to delivering use cases which enable the journey.

To support the release of these highly valuable and insightful papers, we hosted two interactive screencasts which featured the author. In addition, Tony was joined for each of these events by Aidan Millar, EVP Group Digital Insights and Chief Data & Analytics Officer at DNB. DNB are Norway’s largest bank and they selected the Celebrus solution from D4t4 as their technology partner to enable the transformation they embarked on in 2018). Aidan explained his approach to transformation and talked us through some of the practical and organisational challenges DNB encountered during their journey, explaining how they were resolved and shared some of the great successes they have enjoyed on their journey.

The recording of the screencast can be found here

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