Getting the Most Out of Your Data and Analytics
In today’s rapidly evolving digital landscape, data and analytics (D&A) have become the cornerstone of innovation and business growth. According to Gartner, high maturity D&A practices demonstrated a 30% improvement in organisational financial performance.
At GWI, we not only understand what contributes to mature and effective D&A practices but also how to leverage them to drive tangible business value.
The 2024 Gartner Data and Analytics Summit in Sydney highlighted several critical priorities and emerging trends for technology executives and organisations. Below, we outline the key takeaways and considerations for organisations aiming to optimise their data and analytics strategies.
Collaborative Value Creation
A notable 24% of organisations are overhauling their D&A metrics to be more business-oriented, underscoring the direct link between D&A capabilities and business value. This shift in focus demonstrates the importance of maturing fundamental D&A functions and ensuring that technology outcomes are aligned with business objectives.
At GWI, we believe that D&A has the power to empower people across the organisation, but success requires a collaborative approach. Building trust, enhancing data literacy, and encouraging usage are essential steps in realising the full potential of D&A. Our approach is to work closely with our clients and their stakeholders, fostering a culture of collaboration that maximises the impact of their data investments.
Governance for Risk Mitigation
Effective governance is the backbone of any successful data and analytics strategy. As organisations adopt new and emerging innovations, including AI technologies, the importance of robust governance cannot be overstated. Embracing governance fundamentals helps mitigate risks, ensuring that the path to innovation is secure.
GWI aligns with legislative, regulatory, and best practice obligations to ensure that our clients have the necessary mechanisms in place to realise the benefits of technology innovation. We bring deep expertise in updating and optimising existing governance frameworks, ensuring that your organisation can innovate freely while maintaining compliance and mitigating risks.
AI Readiness
With 53% of leaders surveyed believing their organisation is not prepared for the risks associated with AI, preparing your data to be AI-ready has never been more critical. AI readiness goes beyond formal data management practices—it requires a comprehensive understanding and management of all forms of data to ensure a holistic and ethical representation.
GWI’s AI Readiness Assessment provides our clients with a clear understanding of their capability to safely and ethically adopt and leverage AI. We assess people, processes, information, and technology, mapping capabilities to business functions for investment and adoption awareness. After establishing a clear understanding of existing maturity, we deliver a roadmap of targeted, actionable objectives that empower our clients to grow their AI capabilities.
For instance, by putting in place data governance, master data management, data quality, and metadata management practices, we support the development of AI use cases that deliver measurable business value, particularly those linked to innovation.
Operational Simplicity and Ecosystems
The rapid evolution of D&A and AI technologies, such as Generative AI (GenAI), presents leaders with the opportunity to rethink and evolve their operating models. Gartner’s annual Chief Data and Analytics Officer (CDAO) survey found that 75% of respondents were already evolving their operating models to better support innovation.
Furthermore, as the convergence of data management markets drives the need for operational simplicity, embracing new operating models and data ecosystems becomes essential. At GWI, we help organisations streamline their processes, enhance efficiency, and create a robust foundation for sustained innovation.
Ready to Transform Your Data and Analytics?
At GWI, we partner with organisations to unlock the full potential of their data and analytics. Whether you’re looking to mature your D&A capabilities, implement robust governance frameworks, or prepare your organisation for the AI-driven future, our team of experts is here to guide you every step of the way.
Contact us today to learn how GWI can help you achieve your business goals.
