In the past few years, several cliches about data and data management have been flying around in different media. “Data is a company asset,” “get value from data,” “be data-driven,” “digital transformation” are examples. Many companies and professionals use these cliches to promote their services and to get the attention of potential customers. One challenge concerning these cliches bothers me. Data management always demands a practical, pragmatic approach to do things and get results. Therefore, any statement made regarding data and data management should receive this focus. When I come across these cliches, I always have three questions:
- What does it mean?
- Why should a company do it, and which effects should it expect?
- How can such a statement be implemented?
In this series of articles, I would like to share with you my vision as a data management practitioner and answer these three questions for some of the most common cliches.
While I was thinking about the set of cliches, I found an interesting logical relationship between some of them. You can see this in Figure below.
The explanation of this relationship is simple. If a company considers and treats data as its asset, data should deliver value to the company. To enable value delivery by data, a company should correspondingly re-design its business model. In such a case, digital transformation is one of the methods to reconstruct business.
In this series of articles, we will discuss these four cliches in depth.