Unlock Value from Your Data at Speed and Scale

Discover how to leverage your data effectively to achieve rapid and scalable value. Learn the strategies and technologies that empower you to harness data insights for transformative outcomes.

The Challenges of Data Modernization

As organizations strive to adopt AI and other data-driven emerging technologies, many are held back by the same persistent foundational challenges — data quality and availability, governance issues, and legacy architecture complexity.

In response, leaders are taking steps to modernize their data capabilities, re-assessing their strategies, and setting up new processes, systems, and practices to solve their biggest underlying challenges once and for all.

Insights from Strand Consulting

Key themes explored included:

• Key Objectives of Modernization and Potential Benefits
• Developing a Vision and Strategy
• Common Impediments and How to Address Them
• Gaining Organizational Alignment and Business Buy-In

Strategic Recommendations

Keep AI Goals in Perspective

Consider the broader value that delivering higher quality data faster and more securely can create for your business. Align modernization objectives to wider strategic objectives, and clearly articulate how data can help business units achieve their goals to secure critical buy-in.

Apply Modern Software Engineering Practices

Bring modern software engineering practices to your data strategy and apply them to solve persistent challenges around data quality, access, and usability.

Foster a Data-Driven Culture

Encourage a culture that values data-driven decision-making. This involves training and upskilling employees to enhance their data literacy and embedding data-centric practices in everyday business operations. Cultivate a mindset where data is seen as a key asset, critical to achieving business success.

Enhance Data Governance and Security

Implement robust data governance frameworks to ensure data quality, compliance, and security. Establish clear policies and procedures for data management, including data ownership, stewardship, and lifecycle management. Ensure data privacy and security measures are in place to protect sensitive information and build trust with stakeholders.

Invest in Scalable Data Infrastructure

Develop a scalable and flexible data infrastructure that can grow with your organization's needs. Leverage cloud technologies and modern data architectures, such as data lakes and data warehouses, to handle large volumes of data efficiently. Ensure your infrastructure supports real-time data processing and analytics to enable timely and informed decision-making.

Collaborate Across Departments

Break down silos and promote collaboration between IT, data teams, and business units. Foster cross-functional teams to ensure that data initiatives are aligned with business objectives and that insights are effectively translated into actions. Regularly communicate the progress and impact of data projects to maintain engagement and support from all stakeholders.

Measure and Monitor Progress

Establish clear metrics and KPIs to track the progress of your data modernization efforts. Regularly review and assess the impact of your initiatives to identify areas for improvement and ensure alignment with strategic goals. Use these insights to continuously refine your data strategy and maintain momentum towards achieving your objectives.