Data Strategy

Impact Makers helped build a data strategy, business case, organization, and budget to drive investment in analytical capabilities.

Client's Challenge

Our client, a $10B financial services company, sought assistance to develop a plan to mature its data capabilities as it grew other areas of the business.

It was well known throughout the organization that data capabilities were lagging; the company faced siloed data trapped in vendor packages, manual data processes to answer regulators and internal needs, data duplication, overtaxed data heroes throughout the business, and poorly understood information across the organization.

Insights were lacking, and inefficiency and risk were high.

Impact Makers' Solution

Impact Makers evaluated organizational pain points through stakeholder interviews, collecting and outlining the impact of data maturity improvements for various use cases. !m mapped current-state data capabilities to a maturity model in the areas of Governance, Architecture, Technology, and Organization, resulting in a data strategy for improving data capabilities while simultaneously delivering business value from data projects.

  • Hard and soft benefit calculations were generated from use cases collected during data strategy development.
  • A technology assessment was conducted that resulted in software recommendations for a data ecosystem.
  • !m developed a roadmap and outlined actionable projects to begin enhancement of data capabilities.

Impact & Results

  • The data strategy was used to procure funding for a new data warehouse and business intelligence system. Estimated three-year budgets were created including the hardware, software and resource plan. Funding was dedicated to the initial investment and an ongoing program.
  • Collected use cases were turned into a backlog of potential data projects to begin data capability development. Those use cases are now being actively developed alongside larger data capabilities such as data governance.