The benefits of fostering a data culture

CIOs are about to be joined at the C-level summit by CDOs — chief data officers. As companies increasingly use data-based insights to make decisions, CDOs can develop a data strategy, manage the information ecosystem and educate staff on the power and possibilities of data. Here are six steps that CDOs can take to nurture a thriving data culture for a competitive edge.

Map the use of data. Employees must perceive data as a flexible asset whose use and value ripples throughout the organisation. CDOs can encourage this by mapping the organisation’s data supply chain into a big-picture view of available data — who creates it, where it resides and who consumes it — so that everyone understands how their own data usage fits into the broader enterprise. Data maps can also uncover ‘dark data’, or pockets of information that go largely unstudied but can yield valuable insights, such as machine data and customer service call logs.

The ‘art of the possible’. Data culture involves understanding the versatility of data and identifying alternative uses for it. Employees regularly encounter data that is of little value to them but might be of value to someone else. CDOs should encourage a mindset of finding alternative or unusual uses for data by sharing it with other teams.

Be transparent. Data can become a valued asset only if its accuracy is trusted, its provenance well established and its security safeguarded. CDOs can build trust in data by tracking its quality and lineage and providing multiple use cases depending on the data quality.

Develop reward-sharing. Essential to promoting a healthy data culture is celebrating data successes aligned with the organisation’s innovation objectives, whether it’s reducing customer churn, increasing customer intelligence or penetrating new markets. Such recognition can occur in many forms, including videos, blogs, special-occasion gatherings or a company portal.

Identify areas of friction. In a thriving data culture, information-sharing should be a way of life, not a source of tension. The CDO can help various departments find common ground. Data can be used to prioritise needs and make objective decisions, thus improving collaboration by keeping the focus on facts, not emotions.

Elevate the conversation. The real purpose behind a data culture is to sharpen the corporate strategy and drive innovation. When employees see how data connects to corporate objectives, they will overcome their reluctance, apathy and fear about data-sharing. CDOs can promote the link between data and strategy by hosting ideation sessions and hackathons to accelerate strategy and innovation efforts.

By taking these steps, CDOs can help their organisations to manage data as a strategic asset.

Poornima Ramaswamy is Assistant Vice President of the Enterprise Information Management (EIM) practice at Cognizant. She has worked across multiple industries in the EIM space and is passionate about how data and insights play a key role across processes and businesses.