Madison.Partners' experienced team of business leaders has developed a pragmatic methodology that we use to align business objectives with a strong data strategy framework. We focus on delivering early and continuously.
VISION AND OBJECTIVES
Working together with our customers, we distill a clear set of business objectives by translating the company’s mission into growth, product & innovation and cost objectives. This is where the creation of the data strategy begins.
The business strategy is always the keyinput for the data strategy, as the latter is a means to reach your business goals – not the other way around. During initial strategic sessions, our aim is to translate these business targets into clear objectives that the company can achieve using data.
Our framework for developing the data strategy is a combined top-down and bottom-up approach.
The methodology that we apply has three key characteristics: result-oriented, clarity & comprehensiveness.
This approach enables us to develop data strategies that are immediately useful,result-driven, actionable and complete. Processes for follow-up and feedback are also built in. This strategy serves as a robust roadmap for our customers, with realistic building blocks towards improving processes, innovating, transforming and achieving greater profitability with data.
ELEMENTS OF OUR METHODOLOGY
Over the years, our experts have organized numerous workshops with clients. Based on our experience the fastest way to the best results is to hold a number of sessions with larger teams that are/will be involved in the execution of the data strategy, including leadership workshops. These sessions should take place throughout the duration of the project, from kick-off to analysis and feedback.
Typical workshop topics include:
Approach to data strategy
Becoming a data-driven company: lessons learned
Achieving your business objectives with data
Data and organizational readiness
Setting priorities to develop your data timeline
Data strategy review
Our workshops are efficiently structured to take only half a day each, which is sufficient time to provide us with enough data points and input to distill a first draft of the intended outcome.
Madison.Partners has developed a comprehensive method of analysis that enables us to rapidly parse volumes of customer data. We can use existing data or workshop outcomes as input. The analysis will not only indicate which stage your organization has reached in the execution of the data strategy, but also clearly defines the gaps and challenges that must be addressed for a complete and successful execution.
This kind of analysis is at least as valuable as the data strategy itself, as a standalone data strategy without a roadmap offers very little direction. If your organization has a clear view of what needs to be achieved, step by step, you are prepared to tackle every challenge related to tools, data and organizational structure.
Data strategy & roadmap
Through the workshops and analysis, every defined project can be mapped out on a timeline, however the data strategy encompasses much more. To gain a complete picture of the road ahead, the plan also examines:
Skills and workforce capacity
A detailed analysis will lead to a clear, realistic roadmap toward becoming a data-driven company and achieving the objectives outlined. We help ensure that you define a roadmap that is completely feasible and takes change, hiring, skills transfer and investments into account.
Your objectives as well as the outcomes of the analysis and the data roadmap can be visualized on one complete dashboard that presents an immediate status report, pinpointing where you stand in the execution of your data strategy. Our dashboard is always available and offers an up-to-date view.
Our team has developed a set of standard KPIs that are closely related to the datapoints we collect during the analysis phase, and thus to the data strategy itself. KPIs should vary over the course of the project and are set per period defined by the roadmap.
The Madison.Partners' dashboard serves two key functions:
Providing a clear view of the current status: From the moment our clients receive ‘v0’ of the data roadmap, they know exactly where they stand. The dashboard presents an overview of each component of the strategy and of the next actions to take.
Monitoring progress for follow-up: The dashboard also offers customers the ability to benchmark and track progress, which is a useful instrument that our transformation office can use to track the actions and changes needed to execute the data strategy.