July 9, 2020

The report that marks the route for Spanish companies to focus on the data | Innovation

Spanish companies are still not data oriented. This is one of the most relevant conclusions of the Minsait report on Digital Maturity 2019. According to its data, only 19% of companies have an approach based on applying analytics beyond excellence. In addition, 54% of Spanish companies do not have programs to evolve towards a data-oriented organization.

The maximum use of the data constitutes one of the main axes of the transformation of the companies. It is what is known as the model of data oriented organization (data driven organization or DDO) Spanish companies, however, are far from doing their homework. Of course, telecommunications and banking are saved. "The message is clear," says the report. " "Spanish companies must act now, and this study reveals what are the points where the focus should be based on an integral vision."

Only 46% of the 108 Spanish companies investigated give the data the importance it deserves in their strategies, and have defined programs to evolve towards a data oriented organization, according to the Report on Digital Maturity in Spain 2019, focused on Data and Analytics, prepared by Minsait, an Indra company. And few companies are paying attention to their capabilities to manage the life cycle of this asset. Only 19% have an approach based on applying analytics beyond operational excellence.

Functioning as a data-oriented company is not based on having the right digital technologies. According to the Minsait report, the key lies in “making the data itself and the analytical part of your business strategy, your systems, your processes and your culture”. Thus, according to Minsait, these companies support their success in aspects such as “incremental income from the development of new products or services, increase of the unit margin through models of pricing dynamic, reduction of churn (customers who unsubscribe from our services) or the reduction in downtime in production processes ”.

These are the main advantages of the initiatives to turn the company into a DDO company:

  • · They manage to extract value from the data and make profitable the investments made: in the short term through direct commercial or operational optimization, or in the long term, through the client's knowledge. This perpetuates its viability to new players with business models based on the data.
  • · Build capital based on intangible assets: data. This generates long-term competitive advantage with a focus client centric which encourages a value proposition based on experiences.
  • · Increase their speed in decision making, being the first to react to a changing environment, thus adjusting better to the needs of customers.

· They generate synergies around the data, through universal access to it and the training of the company itself. This reduces the time required for the development of new projects, provides a global vision to many initiatives before departmental and generates collaborative environments that foster innovation.

The Minsait report analyzes the degree of maturity and preparation to become Data Oriented Organizations of Spanish companies from four essential enablers:

The orientation data centric It needs to take root more solidly, says Minsait in its report: 56% of companies have "a clear vision of the opportunities around the data", which leads to only 46% having defined programs to evolve towards data oriented organization. This transformative vision also demands ambition: only 19% have an approach based on applying analytics beyond operational excellence.

Management supports the maturation of the application of data and analytics in 65% of companies. It tends to forget, however, two key pieces: the governance of the data, to ensure the quality of the exploitable base; and the government of analytics, to ensure the fulfillment of its function. Only 23% of Spanish companies acknowledge having a solid data government that ensures acceptable quality of the same, and 17% have implemented policies for control, maintenance and continuous improvement of algorithms.

The transition to data-oriented organizations has a strong impact on the current technological framework of any company, since new technologies and repositories are required that allow the intake, storage, processing and exploitation of information in an agile way and enhancing the analytics. However, this much-needed base is poorly developed: only 30% of organizations have implemented big data technologies, and 11% work with tools to optimize data governance (dictionaries, MDM, modeling, quality, etc.).

The human factor is one of the biggest challenges to overcome, especially the shortage of specialized capabilities: only 17% of companies acknowledge having sufficient specialist profiles of data and analytics. Likewise, only 28% recognize a culture of data quality in their company and the new ways of working around the data (new methodologies, democratization, dissemination) are only implemented in a quarter of the companies.

The report also ensures that it has “specifically reviewed the level of current application of intelligence in the data life cycle of Spanish companies” in different aspects.

Knowing the client as completely as possible should be one of the top priorities of Spanish companies: Not surprisingly, here lies the true value of the data. However, only 26% incorporate external data to improve the aggregate knowledge of their customers. Furthermore, in an era in which the sale of experiences replaces leaps and bounds to the sale of products, only 19% continuously monitor the customer experience for the redesign of the same.

All the effort carried out by the organizations (change of mentality, technological adaptation, etc.) must crystallize in a renewal of the value proposition perceived by the client, with the data and the algorithm as the basis for the discovery of new opportunities, inside or outside the natural sector of activity. One of every three companies already declares to be in this situation, and in the medium term they expect to do it three out of four. To help with this objective, 10% of companies have an observatory of trends around the data, and 8% have an automated market observatory to detect opportunities for innovation.

Intelligence, understood as the set of methodologies for capturing, exploiting and making decisions based on data, must act as a catalyst between “data orientation capabilities and the generation of business impact,” according to Minsait. However, it is an element that companies tend to neglect: only 12% enrich their internal vision with data from external sources, or only 19% have learning abilities. Although 40% are capable of capturing unstructured high complexity data (voice, video), they are often stored and idle, given that only 16% of companies exploit this unstructured data.

Despite the direct returns in the income statement, the ways of applying the data and the analytics in the optimization of operations is basic. While efforts focus on operational efficiency, especially in the supply chain. Thus, 27% of companies take advantage of analytical opportunities. Penetration in support processes, however, is minimal: only 6% apply intelligent optimization to their IT function and 11% apply it to their financial function.

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