This requires drawing a straight line from disparate data to technology (cloud architecture) to the application of data science (machine learning) to positively impact business outcomes.
Successful monetizing of data through business strategy requires adoption and collaboration from the business and stakeholders involved.
Many companies struggle with monetizing data—and, in particular, moving from data insight to business strategy— especially when data and analytics efforts are delegated solely to IT. And that is where CESM shines the most. We work backwards from business goals and requirements, collaborating with leadership, department heads, IT, and analytics stakeholders to bring both data science and business strategy to the table. Our team is made up of individuals whose only goal is to realize the business value of data.
Our experience has taught us that nearly every data-driven strategy develop can be distilled down to one or more of these business drivers, goals, or in some cases aspirations:
Short, medium, and long-term cost reductions
Enhanced customer relationships
Greater organizational flexibility and more agile response to changing markets and customer needs
Even as data monetization gains steam, the challenge of driving major business impact remains. For consistent value to be realized we also assist clients with strategies that involve the reconfiguration of operating models, core business functions (from finance to marketing) or training and change-management programs aimed at shifting organizational culture, mind-sets, and behaviors towards being more data-driven.