A leading Hungarian insurance company – part of an international group – started its journey towards being more focused on managing their data assets. In addition to the mainstream trend to be data-driven a group-level initiative had been launched to formalize their data governance function. The Data and Analytics team – direct report to the CEO –had been appointed to design the details of a future data management1 model and to formulate a road map to see how to achieve it.Besides the gap between theory and practice they also had to manage the internal stakeholders involved: the business functions working with data, the already in place data privacy office and the supporting IT function.
Help the Data and Analytics team to understand the company’s current maturity level in data management and give them tools to communicate thecurrent situation and the path ahead which is not only in line with the group level expectations, but can also support other important digital initiatives.Translate the best practice theory to clear, actionable tasks which can help them win appropriate attention and budget for tasks have to be done to elevate their data management practice.
Comprehensive maturity assessment based on inputs from the Data Analytics team and from international best practices which help them to understand where they are in terms of processes, team, data architecture and technology. Road map with clear to-do list to elevate the data management practice presented to the CEO where we also stressed the importance of the link between data and digitization. A one-day data management training where we show how DAMA best practices can be translated into practical tasks.
Positioning the company’s data management capabilities in a comprehensive framework including process,people, technology and data architecture. Showing international and local best practices how to approach the way ahead. Discussion with the CEO about the findings and aspirations how to move forward. Break-down of each aspect into actionable steps which can be done to achieve higher excellence.
Selection of next steps based on the aspirations, budget at hand and external market info (i.e.: a potential merger was on the radar). Showing options about the way forward, but putting into the perspective the dependencies and must have elements (e.g.: incentivisation is a must). We help our client to assess the complexity of each initiative and the know the possible risks doing or not doing something (e.g.: what if we want to avoid using a sophisticated tool).
On a one-day quick intro we helped the key potential stakeholders to get familiar with the DAMA framework,what means what and how to turn the theory into practice. We gave them small workshop tasks to try the theory in short exercises and to give them opportunity to ask the questions that arose. We also agreed to continue our path on the Nextwit Rapid Digitization training track to be able to connect the datamanagement topic to app development tasks.