Generating added value from your own data
Data should be experienced in an exciting, profound, varied and profitable way. At the same time, it must produce the unexpected and be transparent so that it becomes comprehensible, useful and value-adding. This is even easy to implement with little preparatory work. The best way for companies to begin their data analysis is to identify relevant data sources and make the added value of the data visible. The Data Value Creator helps with this.
Value creation requires one thing: data must come to life
Wertschöpfung ist das Herz der <a href="https://www.taod.de/services/bi-und-data-analytics-consulting" data-webtrackingID="blog_content_link" >Datenanalyse</a>. Daten erkennen, erheben und verarbeiten ergibt überhaupt keinen Sinn, wird deren Gesamtwert für das Unternehmen nicht definiert. Genau das führt zu Problemen:
"Many companies lack acceptance for data analysis because it is not perceived as adding value." - Till Aufderheide, Managing Director at taod
The emphasis in this statement is explicitly on the word "experienced". What data projects always urgently need is an individual connection to their own world, i.e. to their own business. This is the only way to recognize and understand their value.
Companies need a person who captures and elevates data potential in order to place it in the overall corporate context and ultimately breathe life into it. This so-called data value creator is either already located within the company or is brought in externally. A new hire can be considered here or an external data specialist can be brought into the team on a temporary basis.
The term "data value creator" is a generic description used by taod for a person who identifies data within a company as value-adding and leverages the associated potential (data value creation). Typically, project managers or business development managers fill this role. However, people from IT, marketing or sales also take on this task. Data value creation can be driven both internally and with external help.
Tasks of the Data Value Creator: Creating value with brains and communication
Der Data Value Creator funktioniert als Insider des Unternehmens, der dessen Bedürfnisse hinsichtlich Datenverwertung und Erkenntnisgewinn versteht. Es handelt sich um einen kreativen Kopf mit Weitsicht, der die Wertschöpfung aus Unternehmensdaten erkennt, aber auch um einen unternehmerischen Charakter, der mutig Entscheidungen treffen kann. Außerdem ist er ein Kenner von aktuellen Data-Analytics-Technologien und Möglichkeiten. Oft tritt er als Diplomat auf, der zwischen Data Team und anderen Abteilungen wie Marketing, Vertrieb oder aber auch der IT vermittelt. <a href="https://www.taod.de/data-projects/nexible-aufbau-eines-data-team" data-webtrackingID="blog_content_link" >Er besitzt Product Ownership und steuert das Data Team.</a> Ein wichtiger Bestandteil seiner Arbeit ist die unablässige Kommunikation mit anderen Abteilungen. Er übersetzt den Bedarf eines Fachbereichs für entsprechende Data und <a href="https://www.taod.de/services/artificial-intelligence-consulting" data-webtrackingID="blog_content_link" >AI Projekte</a> in Datenstrategien, etabliert eine Methodik zur Datennutzung und begeistert Stakeholder für effektivere Datenverwertung.
With practical use cases and small application examples, he illustrates in the short term how a lot can be changed with just a little data. Even a small investment generates value that can be built on gradually. A common misconception in companies is that data analysis is time-consuming, expensive and particularly advisable when developing complex automation processes or AI applications, for example. However, high value can already be generated in small data applications, for example in everyday sales processes, marketing tasks and logistics processes ("low-hanging fruit").
Who is the value creator in the company?
Often there is already a person with the right profile in the company. In some cases, he or she already performs at least some of the activities mentioned above or is well on the way to doing so. Even if there is not yet a data team or a data strategy has not yet been established, the official appointment of a data value creator helps immensely to professionally drive forward the topic of value creation around data management.
Data can uncover potential and solve problems. The preconception that data analysis is complicated can be quickly dispelled with easy-to-learn tools and modern, clear dashboards. However, data analysis should never be an end in itself, but must always be placed in the direct business context.
Together with the Data Value Creator, companies should urgently identify their relevant data treasures and leverage their potential. It must be clearly defined what exactly value means. As a result, better decisions are made in less time and with company-wide transparency and cost savings, which are particularly convincing for business areas. This process can take years and is never complete, as enablement does not end with data management. But the journey is worth it, right from the start.
