Ready for takeoff? Overcoming the practical and legal difficulties in identifying and realizing the value of data. Self-assessment guide

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1 Ready for takeoff? Overcoming the practical and legal difficulties in identifying and realizing the value of data Self-assessment guide

2 Heatmap Life sciences Barriers Maturity Consumer products Barriers Maturity The difficulty of knowing what business problems they should be solving with data and analytics The technical and technological challenges of dealing with the volume, variety and velocity of data The lack of a holistic approach The shortage of talent with data and analytics skills Very low Low Moderate High Very high The fear of cyber attack The difficulty of building the business case, given the lack of awareness about potential benefits The legal issues around personal data, privacy and copyright 2 Self-assessment guide Ready for takeoff?

3 Financial services Power and utilities Automotive Barriers Maturity Barriers Maturity Barriers Maturity Self-assessment guide Ready for takeoff? 3

4 How ready are you for the big data takeoff? Which businesses are leading the way on driving value from big data? Every industry has its leaders and laggards, but the former share one thing in common: an ability to selfevaluate in order to drive continuous improvement. Though many organizations are very rapidly making huge progress, analytics is a technology still in its infancy. Few companies are approaching genuine maturity in their attempts to evaluate the value of the insights and to break down the barriers preventing them from realizing it. How mature is your business s big data and analytics capability? set analytical objectives? developed analytics? To what extent does the organization possess analytics skills? To what extent is the organization s senior leadership supportive of analytics initiatives, or taking a lead on them? To what extent do the organizations technology tools enable analytics capabilities? embedded a culture of analytics? considered the legal challenges of big data? sought to mitigate other potential risks, including cybersecurity issues, related to big data? 4 Self-assessment guide Ready for takeoff?

5 Stages of analytical capability Strategic stages Legal stages Analytic competitors The company uses internal and external data, statistical analysis and predictive modeling. Best legal approach Best practices for the management of legal issues around data processing are implemented and receive regular review (audit and control regarding the management of data and IT security to check compliance both with data protection rules and with in-house data protection and IP procedures). Binding Corporate Rules have been deployed within the group. There is a designated data privacy officer who is well connected with the data analysis teams. Third-party certification of trust is part of business. The establishment of a maturity model optimizes the dissemination and management of these best practices. Analytic companies The company has high-quality data and a company-wide analytics culture. Better legal approach There is an established committee, close to the board, that defines and manages data strategy. The legal department has implemented a systematic consultation process to handle legal issues related to data management. The chief privacy officer reports to management, organizes training and is certified by third-party organizations, such as IAPP or europrise. Best practices regarding data protection compliance such as Binding Corporate Rules or European Seals are being considered. The databases developed by the company are protected as a strategic asset, with the use of copyrights and other relevant IP. Analytic aspirations The company has business intelligence tools, but there is no easy access to them. Good legal approach Strategic thinking is in progress on how data can be integrated in the business strategy. Establishment of governance across various businesses. Legal officers are involved if the case-by-case project requires data management, but this doesn t apply as such as policy in the organization. There is a reasonable level of awareness of data privacy topics. A chief data privacy officer has been appointed to deal with data privacy issues. Some data protection compliance procedures have been developed. The databases developed by the company are protected as a strategic asset, with the use of copyrights and other relevant IP. Localized analytics Analytically impaired Analytics is used mostly for reporting business as usual. The company lacks data skills, and the data is of poor quality. Please consider whether data skill is the right phrase, is it analytics skills? Developing legal approach Collection and data management are recognized as being part of the organization s challenges. There is some awareness of data privacy topics and an in-house contact to deal with data privacy-related questions. The chief privacy officer reports to management, organizes training and is certified by third-party organizations, such as IAPP or europrise. Poor legal approach There is neither chief data privacy officer nor a consistent data privacy compliance management team. Compliance is monitored on the basis of an informal connection between the in-house lawyers and CRM or marketing teams on a case-by-case basis, Best practices regarding data protection compliance such as Binding Corporate Rules or European Seals are being considered. The databases developed by the company are protected as a strategic asset, with the use of copyrights and other relevant IP. There is only a limited data strategy and there are few internal tools. Collection, management and valuation of data are not identified as crucial to competitive advantage for the organization. Data is solely organized and managed by the financial function. Self-assessment guide Ready for takeoff? 5

6 How mature is your business s big data and analytics capability? For each of the following eight questions, select one of the answer options to evaluate your company s current level of maturity. The scale goes from 1 = not at all to 5 = completely. Calculate your total points and see your total on the flipside. 1 2 set analytics? 1 pt It has limited insights into customers, markets and competitors. 2 pts Some business functions have begun experimenting autonomously. 3 pts The organization has begun to set enterprise-wide strategies and consider performance metrics. 4 pts A change management program is in place to develop analytics capabilities throughout the business. 5 pts The organization is already generating deep strategic insights and is continually innovating to boost datadriven decision making. developed analytics? 1 pt None are in place. 2 pts Business functions operate independently of one another. 3 pts The organization is beginning to establish enterprise-wide processes. 4 pts Many enterprise-wide processes are in place. 5 pts Enterprise-wide processes are fully embedded in the organization. 3 4 To what extent does the organization possess analytics skills? 1 pt The skills are missing or have yet to be identified. 2 pts A handful of analysts work in particular business functions. 3 pts Business functions have begun to recruit greater numbers of analysts. 4 pts The organization has made recruitment a priority at an enterprise-wide level and has many skilled analysts in place. 5 pts Skills shortages are not a problem and analysts are working in integrated teams throughout the business. To what extent is the organization s senior leadership supportive of analytics initiatives, or taking a lead on them? 1 pt Initiatives are localized or nonexistent. 2 pts Initiatives are led by business functions. 3 pts Executives are starting to understand competitive opportunities. 4 pts Initiatives have C-suite support. 5 pts Initiatives have CEO support and C-suite leadership. 5 To what extent do the organization s technology tools enable the development of analytics capabilities? 1 pt Systems are not integrated and data is in short supply or unreliable. 2 pts Data is missing and systems are poorly integrated. 3 pts Data warehouse initiatives are under way and some analytics tools are available. 4 pts Data is of high quality and enterprisewide solutions have been developed. 5 pts The business has implemented an enterprise-wide architecture that is already generating good results. 6 Self-assessment guide Ready for takeoff?

7 6 8 embedded a culture of analytics? 1 pt It does not figure. 2 pts Awareness of data and analytics is growing, and demand is beginning to increase. 3 pts Business leaders have begun to drive data awareness throughout the organization, and penetration rates are starting to rise. 4 pts Business leaders have persuaded staff throughout the business to recognize the value of data-driven decision making. 5 pts The whole organization is geared toward identifying data from which actionable insights can be drawn, and acting on those opportunities. sought to mitigate other potential risks related to big data and analytics, such as cybersecurity issues? 1 pt We have yet to think about these issues. 2 pts We have begun to focus on big data opportunities, but are not yet planning and preparing for the associated risks. 3 pts There is growing awareness that, as our enterprise embraces big data and analytics, risk is a crucial challenge to be confronted. 7 To what extent has the organization considered the legal challenges of big data or analytics? 1 pt This is not on the agenda. 2 pts Awareness is very limited and no single figure or function is addressing these questions. 3 pts The business has begun to consider legal issues as part of an integrated approach. 4 pts The business considers legal issues at a high level and has processes in place to ensure enterprise-wide compliance. 5 pts Consideration of legal risk is fully embedded in an enterprise-wide big data and analytics strategy. Compliance is promoted and is effectively a business enabler for the business. 4 pts The business runs scenario planning exercises and other drills in order to address specific risks. 5 pts The question of risk is embedded throughout our big data and analytics processes. Your big data score 8 18 points Your enterprise is only beginning to consider the potential for exploiting big data and analytics technologies. Where projects are being considered, there is little attempt to coordinate activity, and business leaders are failing to take the initiative. Your organization may also be vulnerable to legal risk and cyber attacks points Your enterprise has made some encouraging steps toward realizing value from big data, but there is a great deal more work to be done. There is some leadership from the top of the company, and functions are beginning to work together, but a culture of data awareness has not yet been embedded throughout the organization. Risk mitigation needs to be a priority points Your enterprise has made good progress with big data and analytics projects, and it has a holistic strategy that emphasizes enterprise-wide solutions. Staff members at every level of the company are data-aware, with C-suite executives leading the charge toward driving value. The emphasis now will be on performance measurement and on ensuring that data generates a continuous cycle of business benefits. Note This exercise is indicative only and should not be considered a granular assessment of your enterprise s readiness for big data takeoff, or its legal preparedness. Individual corporate priorities will vary from business to business. Self-assessment guide Ready for takeoff? 7

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