Data Maturity – Do Your Product Data Create Value?

Data maturity is used to measure an organization’s ability to create value from the data it owns and produces.

The more a company uses the data it generates itself, the higher it moves up the maturity scale. Typically, higher maturity also corresponds with a better ability to identify and evaluate new opportunities in the markets where the company operates.

An organization that uses advanced Business Intelligence (BI) and analytics software to analyze its data can therefore be considered significantly more mature than one that relies on spreadsheets for reporting.

You can think of data maturity as a scale, where each level increases your awareness of and ability to leverage your own data.

At PicoPublish, our motto is "A Structured Way to Success", and that’s why we always insist that structured data is the necessary foundation for creating value based on data.

When we work with our customers’ data maturity, the process typically starts with a journey where we focus on questions such as:

• Mapping the Company’s Data Strategy (input from the overall business strategy)What are the company’s strategic goals, and how are these supported by data
  • What is the time horizon for the strategy and its related activities?
  • How have data been managed and utilized so far?
  • How far ahead are your competitors
• Mapping Data Processes
  • What processes have you already defined and implemented?
  • What triggers your data processes?
  • What data and stakeholders are involved in the processes?
  • What goals and KPIs have you set for your processes?
• Mapping the “Culture”
  • Which stakeholders (internal/external) and markets place demands on your data — and particularly on your cannels?
• Mapping the Technology
  • What does your current data model look like?
  • What should the data model look like in the future?
  • What characterizes your current technological setup?
  • What are the most important functions in your future technological setup?

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