7 Questions to assess your company's Data Maturity
Data is the new gold. The company that collects, manages and uses its data in the best way comes up with the best innovations in the market. This is true today, but is a game changer for tomorrow. By 2030, data collection and data analytics will be the basis of all future services and business models.
As consultants in digital business transformation, we know all too well the crucial role data has played for years. In every client project, we put data quality and data governance high on the agenda. After all, smartly connecting quality data can trigger innovations; it helps people make better decisions.
Data is the new gold
But smart reports much more
Data has the potential for companies to adapt smartly and faster to markets that are constantly changing.
This is going to make the difference between leaders, followers and laggards.
The following questions put companies on the road to get an idea of how their data maturity is doing:
- Does the same data reside in multiple places?
- How is data quality monitored?
- Does certain data need to be explained or explained over and over again?
- How much help does a user need when searching for data?
- How much time does a user spend to find data?
- Can the user consult an overview of all data and reports?
- Is there an overview of available data across departments?
The answers to these questions provide a view of a company's data maturity.
Data is one thing. Combining data and formatting smart reports is another. Setting up data governance and master data management is part of any project in digital business transformation.
Mentor and Men helps its clients with management and selection of systems and external parties.
In the tool, data is read, retrieved and interpreted. The definition and provenance of data is crystal clear to the user, so they can now combine the data into new reports and KPIs. The objective is to let people use data more and more correctly.
We at Mentor and Men can only applaud that. To correctly combine data from different sources into insightful reports, it is important to define, describe and catalogue data unambiguously.
A data catalogue is a smart tool that allows data users to create and correctly interpret reports themselves. Such a tool connects sources that the company already uses, think Microsoft Power BI, Tableau, Snowflake or Word and Powerpoint documents on Sharepoint.
