Tag: business process

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Data-Driven Business Transformation: the Data Foundation

Data foundation

In light of data’s prominence in modern business, organizations need to ensure they have a strong data foundation in place.

The ascent of data’s value has been as steep as it is staggering. In 2016, it was suggested that more data would be created in 2017 than in the previous 5000 years of humanity.

But what’s even more shocking is that the peak still not may not even be in sight.

To put its value into context, the five most valuable businesses in the world all deal in data (Alphabet/Google, Amazon, Apple, Facebook and Microsoft). It’s even overtaken oil as the world’s most valuable resource.

Yet, even with data’s value being as high as it is, there’s still a long way to go. Many businesses are still getting to grips with data storage, management and analysis.

Fortune 1000 companies, for example, could earn another $65 million in net income, with access to just 10 percent more of their data (from Data-Driven Business Transformation 2017).

We’re already witnessing the beginnings of this increased potential across various industries. Data-driven businesses such as Airbnb, Uber and Netflix are all dominating, disrupting and revolutionizing their respective sectors.

Interestingly, although they provide very different services for the consumer, the organizations themselves all identify as data companies. This simple change in perception and outlook stresses the importance of data to their business models. For them, data analysis isn’t just an arm of the business… It’s the core.

Data foundation

The dominating data-driven businesses use data to influence almost everything. How decisions are made, how processes could be improved, and where the business should focus its innovation efforts.

However, simply establishing that your business could (and should) be getting more out of data, doesn’t necessarily mean you’re ready to reap the rewards.

In fact, a pre-emptive dive into a data strategy could in fact, slow your digital transformation efforts down. Hurried software investments in response to disruption can lead to teething problems in your strategy’s adoption, and shelfware, wasting time and money.

Additionally, oversights in the strategy’s implementation will stifle the very potential effectiveness you’re hoping to benefit from.

Therefore, when deciding to bolster your data efforts, a great place to start is to consider the ‘three Vs’.

The three Vs

The three Vs of data are volume, variety and velocity. Volume references the amount of data; variety, its different sources; and velocity, the speed in which it must be processed.

When you’re ready to start focusing on the business outcomes that you hope data will provide, you can also stretch those three Vs, to five. The five Vs include the aforementioned, and also acknowledge veracity (confidence in the data’s accuracy) and value, but for now we’ll stick to three.

As discussed, the total amount of data in the world is staggering. But the total data available to any one business can be huge in its own right (depending on the extent of your data strategy).

Unsurprisingly, vast volumes of data are sourced from a vast amount of potential sources. It takes dedicated tools to be processed. Even then, the sources are often disparate, and very unlikely to offer worthwhile insight in a vacuum.

This is why it’s so important to have an assured data foundation upon which to build a data platform on.

A solid data foundation

The Any2 approach is a strategy for housing, sorting and analysing data that aims to be that very foundation on which you build your data strategy.

Shorthand for Any Data, Anywhere, Any2 can help clean up the disparate noise, and let businesses drill down on, and effectively analyze the data in order to yield more reliable and informative results.

It’s especially important today, as data sources are becoming increasingly unstructured, and so more difficult to manage.

Big data for example, can consist of click stream data, Internet of Things data, machine data and social media data. The sources need to be rationalized and correlated so they can be analyzed more effectively.

When it comes to actioning an Any2 approach, a fluid relationship between the various data initiative involved is essential. Those being, Data Modeling, Enterprise Architecture, Business Process, and Data Governance.

It also requires collaboration, both in between the aforementioned initiatives, and with the wider business to ensure everybody is working towards the same goal.

With a solid data foundation platform in place, your business can really begin to start realizing data’s potential for itself. You also ensure you’re not left behind as new disruptors enter the market, and your competition continues to evolve.

For more data advice and best practices, follow us on Twitter, and LinkedIn to stay up to date with the blog.

For a deeper dive into best practices for data, its benefits, and its applications, get the FREE whitepaper below.

Data-Driven Business Transformation

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Data Education Month: Data-Focused Organizations Continue Their March

Data Education Month

In the modern world, data education is immensely important.

Data has become a fundamental part of how businesses operate. It’s also essential to consumers in going about their day-to-day lives.

And while organizations and consumers alike go about their business, data constantly ticks in the background, enabling the systems and processes that keep the world functioning.

Considering this, and with March marking Data Education Month, now seems the perfect time to highlight the importance of understanding data’s potential, its drawbacks and the most efficient ways to ensure its effective management.

Data education month

In 2013, the total amount of data in the world was believed to have reached 4.4 zettabytes. For context, 1 zettabyte is equivalent to around 44 trillion gigabytes, or about 152 million years of UHD 8K video format.

By 2020, analysts predict the world’s data will reach 44 zettabytes. The sudden acceleration is truly staggering, and it’s businesses driving it.

Start-ups that find new ways to exploit data can revolutionize markets almost overnight. And as the frequency in which this happens increases, more and more pre-established businesses are also putting resources behind digital innovation.

By now, businesses should be more than aware of just how important a good data management strategy is. If you’ve yet to make a data strategy a central focus of the way your business operates, then chances are, you’re being left behind – and the gap is widening quickly.

So in honor of data education month, we’ve collated some of our top educational data posts, and a few others around the Web.

Read, comment, share and celebrate #DataEducationMonth with us.

Data Education: Data Management

Managing Any Data, Anywhere with Any²

The acceleration in the amount of data is staggering, and can be overwhelming for businesses. You should apply the Any² approach to cope.

GDPR Guide: Preparing for the Changes

Businesses need to prepare for changes to General Data Protection Regulation (GDPR) legislation, and our GDPR guide is a great place to start.

Using EA, BP and DM to Build the Data Foundation Platform

Instead of utilizing built for purpose data management tools, businesses in the early stages of a data strategy often leverage pre-existing, make-shift software. However, the rate in which modern businesses create and store data, means these methods can be quickly outgrown.

Data Education: Data Modeling

The Data Vault Method for Modeling the Data Warehouse

How the data vault method benefits businesses by improving implementation times, and enabling data warehouse automation.

Data Modeling – What the Experts Think

Three data modeling experts share their advice, opinions and best practices for data modeling and data management strategies.

Data Education: Enterprise Architecture

Data-Driven Enterprise Architecture for Better Business Outcomes

A business outcome approach to enterprise architecture can reduce times to market, improve agility, and make the value of EA more apparent.

What’s Behind a Successful Enterprise Architecture Strategy?

Best practices to adopt to increase the likelihood of enterprise architecture’s success

Data Education: Business Process

Basics of Business Process Modeling

Business process modeling helps to standardize your processes and the ways in which people communicate, as well as to improve knowledge sharing.

Where Do I Start with Business Process Modeling?

FAQ blog providing insight from top consultants into key issues impacting the business process and enterprise architecture industries.

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Managing Any Data, Anywhere with Any2

Any2 - Data Management Platform

The amount of data in the world is staggering. And as more and more organizations adopt digitally orientated business strategies the total keeps climbing. Modern organizations need to be equipped to manage Any2 – any data, anywhere.

Analysts predict that the total amount of data in the world will reach 44 zettabytes by 2020 – one zettabyte = 44 trillion gigabytes. That’s an incredible feat in and of itself. But considering the fact that the total had only reached 4.4 zettabytes in 2013, the rate at which data is collected and stored becomes even more astonishing.

However, it is equally incredible that less than 0.5% of that data is currently analyzed and/or utilized effectively by the business.

What does this mean for business?

Perhaps the most obvious answer is opportunity. You likely wouldn’t be reading this blog if you weren’t at least passively aware of the potential insight that can be derived from a series of ones and zeros.

Start-ups such as Uber, Netflix and Airbnb are perhaps some of the best examples of data’s potential being realized. It’s even more apparent when you consider these three organizations refer to themselves as technology companies, as opposed to the fields their services fall under.

But with data’s potential, potentially open for any business to invest in, action, and benefit from, competition is more fierce than ever, which brings us to what else this new wave of data means for business. That being effective data management.

All of this new data is being created, or even stored, under one manageable umbrella. It’s disparate, it’s noisy, and in its raw form it’s often useless. So to uncover data’s aforementioned potential, businesses must take the necessary steps to “clean it up”.

That’s what the Any2 concept is all about. Allowing businesses to manage, govern and analyse any data, anywhere.

Any2 - Data Management Platform

Any2 – Any Data

The first part of the Any2 equation, pertains to Any Data.

Managing data requires facing the challenges that come with the ‘three Vs of data’: volume, variety and velocity, with volume referring the amount of data, variety to its different sources, and velocity the speed in which it must be processed.

We can stretch these three Vs to five when we include veracity (confidence in the accuracy of the data), and value.

Generally, any data concerns the variety ‘V’, referring to the numbered and disparate potential sources data can be derived from. But as we need to be able to incorporate all of the varying forms of data to accurately analyze it, we can also say any data concerns the volume, and velocity too – especially where Big Data is considered.

Big Data initiatives increase the volume of data businesses have to manage exponentially, and to achieve desired time to market, it must be processed quickly (albeit thoroughly), too.

Additionally, data can be represented as either structured or unstructured.

Traditionally, most data fell under the structured label. Data including business data, relational data, and operational data, for example. And although the different types of data were still disparate, being inherently structured within their own vertical still made them far easier to manage, define, and analyze.

Unstructured data, however, is the polar opposite. It’s inherently messy and it’s hard to define, making both reporting and analysis potentially problematic. This is an issue many businesses face when transitioning to a more data-centric approach to operations.

Big data sources such as click stream data, IoT data, machine data and social media data all fall under this banner. All of these sources need to be rationalized and correlated so they can be analyzed more effectively, and in the same vain as the aforementioned structured data.

Any2 – Anywhere

The anywhere half of the equation is arguably also predominantly focused on the variety ‘V’ – but from a different angle. Anywhere is more concerned with the differing and disparate ways and places in which data can be securely stored, rather than the variety in the data itself.

Although an understanding of where your data is has always been a necessity, it’s now become more relevant than ever. Prior to the adoption of cloud storage and services, data would have to have been managed locally, within the “firewall”.

Businesses would still have to know where the data was saved, and how it could be accessed.

However, the advantages of storing data outside of the business have become more apparent and more widely accepted. This has seen many businesses take the leap and invest in varying capacities, into-cloud based storage and software-as-a-service (SaaS).

Take SAP, for example. SAP provides one solution and one collated database, in favour of a business paying installation and upkeep fees for multiple softwares and databases.

And we still need to consider the uptick in the amount of businesses that buy customer data.

All of this data still has to be integrated, documented and understood in order for it to be useful, as poor management of data can lead to poor results – or, garbage in, garbage out for short.

Therefore, the key focus of the anywhere part of the equation is granting businesses the ability to manage external data at the same level as internal.

Effectively managing data anywhere, requires data modeling, business process and enterprise architecture.

Data modeling is needed to establish what you have whether internal or external, and to identify what that data is.

Business Processes is required to understand how the data should be used and how it best drives the business.

Enterprise Architecture is useful as it allows a business to determine how best to leverage the data to drive value. It’s also needed to ensure the business has a solid enough architecture to allow for this value to come to fruition, and in analyzing/predicting the impact of change, so that value isn’t adversely affected.

So how do we manage Any Data, Anywhere?

The best way to effectively manage Any Data, Anywhere, so that we can ensure investing in data management and analysis adds value, is to consider the ‘3Vs’ in relation to the data timeline. You should also consider the various initiatives (Data Modeling, Enterprise Architecture and Business Process) that can be actioned at each stage to ensure the data is properly processed and understood.

Any2 - Data management platform

Any2 approach helps you:

  • Effectively manage and govern massive volumes of data
  • Consolidate and build applications with hybrid data architectures – traditional + Big Data, cloud and on-premise
  • Support expanding regulatory and legislative requirements: GDPR etc
  • Simplify collaboration and improve alignment with accurate financial and operation information
  • Improve business processes for operational efficiency and compliance standards
  • Empower your people with self-service data access: The right information at the right time to improve corporate decision-making

 

 

For more Data Modeling, Enterprise Architecture, and Business Process advice follow us on Twitter and Linkedin to stay updated with the new posts!

Importance of Governing Data

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Data management tools essential for building the data foundation platform

Instead of utilizing built for purpose data management tools, businesses in the early stages of a data strategy often leverage pre existing, make-shift software.

However, the rate in which modern businesses create and store data, means these methods can be quickly outgrown.

In our last post, we looked at why any business with current, or future plans for a data-driven strategy need to ensure a strong data foundation is in place.

Without this, the insight provided by data can often be incomplete and misleading. This negates many of the benefits data strategies are typically implemented to find, and can cause problems down the line such as slowing down time to markets; increasing the potential for missteps and false starts; and above all else, adding to costs.

Leveraging a combination of data management tools, including data modeling, enterprise architecture and business processes can ensure the data foundations are strong, and analysis going forward is as accurate as possible.

For a breakdown of each discipline, how they fit together, and why they’re better together, read on below:

This post is part two of a two part series. For part 1, see here.

Data management tools for an agile data foundation.

Data Modeling

Effective Data Modeling helps an organization catalogue, and standardize data, making the data more consistent and easier to digest and comprehend. It can provide direction for a systems strategy and aid in data analysis when developing new databases.

The value in the former is that it can indicate what kind of data should influence business processes, while the latter helps an organization find exactly what data they have available to them and categorize it.

In the modern world, data is a valuable resource, and so active data modeling in order to manage data, can reveal new threads of useful information. It gives businesses a way to query their databases for more refined and targeted analysis. Without an effective data model, insightful data can quite easily be overlooked.

Data modeling also helps organizations break down data silos. Typically, much of the data an organization possesses is kept on disparate systems and thus, making meaningful connections between them can be difficult. Data modeling serves to ease the integration of these systems, adding a new layer of depth to analysis.

Additionally, data modeling makes collaborating easier. As a rigorous and visual form of documentation, it can break down complexity and provide an organization with a defined framework, making communicating and sharing information about the business and its operations more straightforward.

Enterprise Architecture

Enterprise Architecture (EA) is a form of strategic planning used to map a businesses current capabilities, and determine the best course of action to achieve the ideal future state vision for the organization.

It typically straddles two key responsibilities. Those being ‘foundational’ enterprise architecture, and ‘vanguard’ enterprise architecture. Foundational EA tends to be more focused on the short term and is essentially implemented to govern ‘legacy IT’ tasks. The tasks we colloquially refer to as ‘keeping on the lights’.

It benefits a business by ensuring things like duplications in process, redundant processes, and unaccounted for systems and shelfware don’t cost the business time and money.

Vanguard enterprise architects tend to work with the long term vision in mind, and are expected to innovate to find the business new ways of reaching their future state objectives that could be more efficient than the current strategy.

It’s value to a business becomes more readily apparent when it enterprise architects operate in terms of business outcomes, and include better alignment of IT and the wider business; better strategic planning by adding transparency to the strategy, allowing the whole business to align behind, and work towards the future objective; and a healthier approach to risk, as the value (reward) in relation to the risk can be more accurately established.

Business Process

Business process solutions help leadership, operations and IT understand the complexities of their organizations in order to make better, more informed and intelligent opinions.

There are a number of factors that can influence an organization who had been making it by without a business process solution, to implement the initiative. Including strategic initiatives – like business transformation, mergers and acquisitions and business expansion; compliance & audits – such as new/changing industry regulations, government legislation and internal policies; and process improvement – enhancing financial performance, lowering operating costs and polishing the customer experience.

We can also look at the need for business process solutions from the perspective of challenges it can help overcome. Challenges including the complexities of a large organization and international workforces; confusion born of undefined and undocumented processes as well as outdated and redundant ones; competitor driven market disruption; and managing change.

Business process solutions aim to tackle these issues by allowing an organization to do the following:-

  • Establish processes where they don’t exist
  • Document processes that exist but aren’t consistently followed
  • Examine/analyze/improve/eliminate processes that don’t work
  • Optimize processes that take too long, cost too much or don’t make sense
  • Harmonize redundant processes across the organization.
  • Construct processes for new products, markets and organizations
  • Disrupt processes with new technology and data assets.

The Complete, Agile Foundation for the Data-Driven Enterprise.

As with data, these three examples of data management tools also benefit from a more fluent relationship, and for a long time, industry professionals have hoped for a more comprehensive approach. With DM, EA and BP tools that work in tandem with, and complement one another inherently.

It’s a request that makes sense too, as although all three data management tools are essential in their own right, they all influence one another.

We can look at acquiring, storing and analyzing data, then creating a strategy from that analysis’ as separate acts, or chapters. And when we bring the whole process together, under one suite, we effectively have the whole ‘Data Story’ available to us in a format we can analyze and inspect as a whole.