Intelligent Data & Analytics Strategy

In many companies, part of the potential of existing data holdings remains largely untapped due to fragmented data sources, missing quality standards and selective governance. This starting position affects not only a company’s analytics capability, but is also the decisive precondition for whether AI initiatives are actually viable or fail on an insufficient data basis.

Context and relevance

The willingness to invest in artificial intelligence (AI) and advanced analytics has increased in recent years. However, a considerable proportion of these investments does not deliver the expected effect. The most common reason for this is an insufficient data basis. Here, inconsistent data sources, a lack of responsibilities for data quality and the absence of a structured analytics architecture mean that even high-performing AI systems produce no reliable outputs. A robust data foundation and a clearly defined data governance are therefore not downstream IT matters, but strategic preconditions for every form of data-driven value creation.

Our approach

FOSTEC & Company develops a complete Intelligent Data & Analytics Strategy in four phases that build on one another (Figure 1: Four-phase approach to developing a robust data & analytics strategy), ranging from the stocktake to the economic exploitation of the data holdings. Since a robust data basis determines the functioning of all AI clusters, this module is the strategic foundation of FOSTEC & Company’s entire AI portfolio.

1. Data foundation: the existing data basis is systematically captured and assessed in terms of completeness, consistency and timeliness. The data strategy document describes the as-is state of the data landscape, identifies structural gaps and defines the strategic target architecture. This basis is the necessary precondition for all downstream phases and for every form of AI integration.
2. Analytics strategy: on the basis of the data foundation, an analytics architecture is developed that structures analysis and reporting requirements by hierarchy level, management logic and usage context. It thereby creates the structural basis for a company-wide analysis and reporting system and is directly connectable to existing and planned AI initiatives across all competency fields.
3. Data governance: the data governance framework bindingly defines responsibilities, quality standards, access rights and processes for data maintenance and data cleansing. It also secures long-term data integrity and is thereby the operational precondition for all of the company’s AI modules working on a reliable data basis on a lasting basis.
4. Data monetisation: potential for the economic exploitation of the data holdings is identified and evaluated. The monetisation roadmap distinguishes between internal value creation through improved management decisions and external exploitation through data-based products or partner models. It prioritises scenarios by achievable economic contribution and implementation effort and thereby completes the strategic consideration of data as a company resource.

Figure 1: Four-phase approach to developing a robust data & analytics strategy

Results and impact

Clients receive a complete data strategy document that defines the strategic framework for the further development of the data landscape, an implementation-ready analytics architecture as a structural basis for analysis and reporting systems, a binding data governance framework and a prioritised monetisation roadmap. A robust data basis is created that enables AI models, automation initiatives and data-supported management systems to realise their potential. As an entry point, it creates the structural precondition for all downstream AI investments to be viable and to deliver the expected results.

Position within the service portfolio

The Digital & Operational Performance portfolio comprises services of varying scope and focus. FOSTEC & Company offers comprehensive services to enhance digital and operational performance:

• Digital & Commerce Operating Model Design
• Strategic Cost Reduction Program
• AI-Powered Process & Workflow Automation
• Commerce Operations & Supply Chain Performance
• Data-Driven Performance Steering
• Technology Efficiency & Platform Optimisation
• Intelligent Data & Analytics Foundation

Find out in a personal introductory conversation how FOSTEC & Company strategically assesses your company’s data basis and develops a robust analytics architecture – get in touch with us.