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Strategy definition and evaluation - from status quo to sector industry comparison

06 November 2020
Ida Lorenz
The global economy confronts companies with more and more and rapidly changing challenges. In times of crisis these challenges are more painful than ever. In almost all branches of industry, competitive conditions are changing due to saturated markets and stagnating demand. And the digital transformation is contributing significantly to this as well.

The increasing use of AI and decision intelligence, the intensified data-driven focus on customer benefit and the growing automation level of business processes have a significant effect as a distinguishing feature for the favour of the demanding customer.

Therefore, strategic design in data management and, in particular, sustainable market-oriented concepts must become indispensable components of every business agenda. These perspectives set the framework for digitisation measures in companies. They point the way and set the priorities for implementation in order to achieve the goals defined in the business strategy.

But do you always know reliably from which starting point you can aim at a target? In order to define an action plan of lasting value, you must first ensure that all business processes and departments are recorded, checked and evaluated. This is the only way to define a digital strategy that supports the objectives of the corporate strategy. The efficient work of employees, the effective use of budget and the targeted customer approach must also be analysed and classified. This allows improvement potentials to be developed.

While some companies are still able to devote the necessary resources internally for these analyses, they often fail to obtain the information needed to carry out a competitive comparison or a market and industry check.

Michael Weiß, Head of Strategy Consulting in our consulting team, summarises in the following video (briefly and concisely) how companies get to the bottom of their company's weaknesses. And therefore, adds another aspect to our video series "Data Strategy: Various Angles – Common Goal".

Do you need further information and would like to learn more about our product "Data Management Benchmarking"? Then you are welcome to contact us.

Let us talk about digitalisation and the value of data.

We often meet companies that invest time in strategy. But: from which starting point is a goal targeted? Where do I stand and where does my market environment?

We say: position your company pragmatically against industry-related benchmarks.

Use a proven maturity model: for process and organisation, for data architecture, quality, and governance.

In this way, you can quickly identify your strengths and weaknesses, and we use these to formulate the benefits and risks in relation to your target definition.

Data Management Benchmarking is a tool to determine the priority and sequences of digitisation. And to be pragmatic and deliver results in a timely manner.

Interested? Let's talk straight.

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