Jul 23, 2020 | 5 min read
As everybody knows, we are in the age of the customer and organizations 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 organization 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 organization 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 organization is among them! , D4t4 recognized 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 organizations are adopting to make the pivot to becoming a data-driven business It looked at how organizations 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 center around a new 5 stage model of data maturity.
Tony Brown, a banking data expert who specializes 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 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 organization'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 organizational challenges DNB encountered during their journey, explaining how they were resolved and shared some of the great successes they have enjoyed on their journey.
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