Data Value Thinking
How does the ability to generate and utilise meaningful data significantly increase the value of a company?
DATA VALUE THINKING is a strategic framework that is aimed at business managers and offers them orientation and decision-making aids with models and analogies. Creative approaches support the development of pragmatic, realisable and at the same time future-proof solutions.
Using new technologies sensibly
Rethinking data
DATA VALUE THINKING offers a navigator system - similar to that of a sailing boat - for developing goals and maintaining a safe course. To ensure practicability and implementation, selected solutions and technology partners support the approach.
Creating value through efficient combination
Connecting data worlds
Experience shows that combining data from different areas generates some of the greatest value. DATA VALUE THINKING helps to find these combinations and to break down thinking in data pots and existing structures.
Building creativity and innovation on data
Creating a data culture
In order to utilise the value of data, more and more creativity and innovation is required in addition to technical expertise. DATA VALUE THINKING offers workshops that utilise creative techniques such as gamification to quickly identify new ideas and approaches. Furthermore, this creates a shared view of the world of data and establishes a data culture.
Data Value Thinking Navigator and partner network
Controlling data utilisation
DATA VALUE THINKING offers a navigator system - similar to that of a sailing boat - for developing goals and maintaining a safe course. To ensure practicability and implementation, selected solutions and technology partners support the approach.
‘Realising’ digital strategies through the use of Data Value Thinking
Companies are increasingly under pressure to quickly decide whether, how, and to what extent they should implement new technologies such as sensors, robotics, social media, or artificial intelligence. The point is not to use technology just because it exists. Technology is a means to the end of increasing corporate value. The central element of new technologies is data. Data control, enable, and utilize these technologies. Data is the “raw material” that technologies use and at the same time the “raw material” they deliver. New technologies are currently and will continue to be introduced into companies, bringing with them a vast sea of data. But what do these data and technologies mean for management? Which approaches really help to generate efficiency advantages, conserve resources, and achieve service added value? What changes and what needs to be considered? Business decision-makers must increasingly deal with these questions. Even though the foundations of these topics are technologies, the business sectors in particular must also strategically and economically deal with these questions. The “becoming real” of digital strategies is achieved through the use of Data Value Thinking, which is an approach and methodological tool with the following objectives: •Common understanding regarding the current state of the company in digitalization •Deriving the importance of data as the central resource in the digital strategy and its implementation •New, creative approaches for mindset change and value creation •Showing implementable digital use cases •Providing orientation by presenting selected application examples and technology/solution partners Data Value Thinking aims to better understand the significance of data in order to better utilize data for the enhancement of corporate value.
Anwendungsbereiche
Particularly in industries that are currently undergoing significant digitalization, such as real estate, mechanical engineering, and commerce, there is a growing awareness of the strategic role and value of data. Companies aim to increase their corporate value by generating, recognizing, and utilizing meaningful data. To this end, they face the tasks of orientation, strategy, and cultural change, which must be implemented step by step and pragmatically. I. Orientation & Strategy - Many areas of the companies deal with the topics of “data” and “digitalization.” Within the framework of “Data Value Thinking,” these areas can complement each other and develop a common language. Goals and guidelines are defined. II. Step-by-step Implementation - Independent and quickly installable solutions offer advantages. However, they should not block the path to the future. It is important to set the right priorities to also have a quick return on investment (ROI). III. Pragmatism - Not everything that is technically feasible is also sensible. Many complex technical solutions can also be achieved through pragmatic data analysis. IV. Cultural Change - The value of data is only gradually becoming apparent to us. The environment is changing dynamically. Therefore, management and employees must be sensitized and trained to be able to act consciously and in a coordinated manner.
Making sensible use of new technologies - Rethinking data
New technologies enable new applications. However, new technologies also mean new behaviours, as the smartphone shows. Furthermore, technologies complement each other and are the only way to create comprehensive new ways of working. Artificial intelligence applications require sufficient, high-quality data as a basic raw material. Technologies such as sensor technology and the Internet of Things (IoT) provide these data, storage and analysis tools from the field of big data make them permanently available. These dynamics are reinforced by efficient communication technologies and the willingness of users to utilise new technologies.
Data is the raw material whose quality and type not only determines the quality of artificial intelligence, but also has a decisive influence on all areas of applying new technologies.
Data is the raw material whose quality and type not only determines the quality of artificial intelligence, but also has a decisive influence on all areas of applying new technologies.
Creating value through efficient combination - connecting data worlds
Data is nothing new in companies. They already control comprehensive applications such as ERP, CRM and production systems and are analysed and used for corporate management. Various data pools have emerged in companies, which often represent separate, self-contained worlds. Further developments and new applications often take place within these worlds, and new technologies are often added as a new ‘world’. Experience shows that by combining these data worlds, it is often possible to create greater synergies and more efficient solutions. In addition to technical prerequisites, this often requires new approaches and cross-divisional collaboration. DATA VALUE THINKING facilitates this collaboration and promotes new ways of thinking through the use of appropriate creative and innovative approaches in the context of cross-departmental workshops.
Creativity and innovation on data - creating a data culture
Companies are increasingly recognising data as a ‘value’. In addition to technical and analytical expertise, creativity and innovation are required to realise this value. In order to be creative, you first have to be able to grasp the complexity and organise it to a certain extent - get an overview (like the box of building blocks that you first pour out, rummage through and look at the blocks before images and objects emerge that you want to build or can use). In addition to ‘grasping’ and ‘organising’, it is important, as in design thinking, to look at the topic from different perspectives and to think more from the end, the user. Analogies or images help with creative design and help to ‘grasp’ the complexity. With its approaches and methods, DATA VALUE THINKING supports the development of such a data culture in the company. One example of this is the DVT Creative Workshop. The workshop aims to capture the world of data and its value. It uses gamification approaches and is based on the DVT map, a map of the world of data. It reduces complexity and provides orientation. It provides managers and executives with an approach that enables them to take better management decisions based on the right data. In order to utilise data better, more and more creative approaches are being used by companies. Creativity cannot be forced, but it can be supported. The workshop provides executives or a management team with a common picture and thus also a common basis and language for future discussions and ideas.
Using the Data Value Thinking Navigator and partner network - managing data utilisation
The world of data and new technologies is complex and consists of many components and application areas. A navigator system is required to develop goals and maintain a safe course - similar to a sailing boat! The DATA VALUE THINKING approach is supported and utilised by selected technology and solution partners. These partnerships also provide DATA VALUE THINKING users with appropriate solutions and support. DATA VALUE THINKING offers clear objectives and secure navigation in the complex world of data. It offers a navigator system that not only takes into account transformational, business and technical issues, but also cultural ones, and integrates them all! The Data Value Navigator is made up of four components Business Value: How can the data be used to increase the company's value? Data Management: What do I need to do to make my data available efficiently, manage it and protect it? Data Infrastructure: Where is the data and what technologies are used to access it? Data Crew: Who uses data in business decisions and what role does data awareness play in the corporate culture? Only the consideration of all components will generate the expected success in digitalisation.
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