Every company collects and manages vast amounts of data, e.g. from production processes or business transactions. Yet, even today only a fraction of this data is used effectively to support control and decision-making processes. There are many reasons for this: some companies lack binding data governance or are only just implementing the technologies required for data analysis. Others are struggling to formulate a clear data strategy.
Data Strategy
Avoid data chaos!
Data is essential for digital transformation. This basic idea drives many companies to collect data - but unfortunately far too often without a clear objective. In the end, the surprise is great when the insights or improvements gained fall far short of the goals set. In the worst case, they rely on outdated, incomplete or incorrect data and the money invested in the digital transformation is gone.
- A clear data strategy is needed to leverage a company's wealth of data and achieve the expected impetus for product innovation, customer orientation and process automation. As a cross-divisional concept, a data strategy defines the organizational and technological capabilities that a company needs to bring about the desired improvements. Otherwise, data chaos is inevitable.
Everyone is talking about generative AI such as ChatGPT or Bard. But in all the euphoria, it is easy to forget to ask why such solutions make sense. How can a company invest in AI to help speed up product development, improve the customer experience, automate processes or effectively reduce costs? And which company in your industry has already improved its own profitability with AI? What were the prerequisites for success? These and similar questions are sure to be on your mind.
- Our experts provide you with insights and good practices for the effective and efficient use of data. They will help you to classify the development trends in the field of AI and identify suitable areas of application for your company. Using examples from numerous projects, we will show you how other companies use AI processes, cognitive computing, data mining, neural networks or predictive analytics for themselves, how they use them to process their wealth of data in depth and develop an understanding of their data.
Our services for your Data Strategy and Artificial Intelligence
Ideation & Discovery Workshop: “Critical Components of Successful Data Governance”
Our joint approach:
In today's complex business world, there are few elements as critical to an organization's success as data. At every level of the organization, the ability to access, manage, analyze and make decisions based on data is paramount. And yet, many organizations do not currently have a data governance program in place. A recent analysis by Dataversity found that only just over 10% of companies surveyed have fully implemented programs.
- In our Ideation & Discovery Workshop, we will show you how you can benefit from data governance.Depending on your specific challenges, we will develop a data governance target picture that is right for you.
Your benefits:
- Framework conditions for effective data governance - data architecture, data quality, data management, data security, data compliance
- Realizable target image for data governance
- Quick check of the effectiveness of existing guidelines and controls in the context of data governance
- Good practices, concrete use cases and benchmarks as a guide for the introduction of effective data governance
Assessment: Data management - Maturity level
Our joint approach:
Every company generates data - but not every company manages this data effectively. When data management maturity is low, there are many challenges. But once companies overcome these challenges, there is an opportunity to create tremendous value with data.
- Based on a data excellence approach, we evaluate the maturity level of your data management together.As part of this, we record the established standards, processes and technologies, available personnel capacities and defined data management services.
Your benefit:
- Objective maturity level of your data management
- Risk assessment for identified deficits
- Opportunity assessment for the successful implementation of data excellence requirements
- Specific recommendations for action to optimize your data management in order to achieve the desired level of maturity
- Guidance to concretize your data strategy
Assessment: DSGVO / GDPR and data governance maturity level
Our joint approach:
With digitalization, the volume of processed data in companies is increasing significantly. How can you demonstrate your GDPR compliance and improve the maturity of your data protection environment in this dynamic environment?
- With our GDPR and data governance assessment, we determine how you can best handle data protection requirements in your company.
Your benefit:
- Assessment of the implementation of the principles for effective data protection management in your data governance in accordance with legal requirements
- Specific recommendations for additional processes, technologies or control measures to increase the maturity level of your data protection environment
- Structured preparation for a Data Protection Impact Assessment (DPIA)
Assessment: Artificial Intelligence – Inventory and maturity level
Our joint approach:
Our project experience shows that companies need to master a number of key skills in the right combination to achieve AI maturity. On the one hand, fundamental skills are required, for example in cloud platforms and tools, data platforms, architecture and governance. Secondly, unique selling points such as a clear AI strategy, management support and a culture of innovation are required.
- With our AI maturity analysis, we determine your basic readiness for the use of AI.We also assess how suitable the measures implemented to date are for achieving the goals defined for AI.
Your benefit:
- Orientation aid for deriving or concretizing your AI strategy
- AI maturity level of your company - preliminary stage / development / innovation / transformation
- Specific recommendations for action for the further planning of AI projects
Is your company "data-driven"?
Our experts will help you define a targeted data strategy to identify the data relevant to your company and use it as profitably as possible in line with your strategic business objectives.
We work with you to develop the necessary measures required for the effective use of data within your company, from establishing guidelines, defining processes and introducing technologies such as artificial intelligence.
Jan HachenbergerDirector Strategy Consulting
jan.hachenberger@timetoact-group.com