The current UK financial instabilities clearly demonstrate the importance of data underpinning strategy. Keeping this politically neutral we can all agree something has gone wrong and concern raised in the financial markets. The messaging was not clear on the financial implications of the change of strategy.
This is a situation that is so easy to fall into in the context I work in with IT Divisions and Data Teams. A new leader assesses the situation and proposes a change. Such a change is a strategic direction change that needs to be backed up with a context assessment and forecast to get everyone on board. We get a debate without these messages. That slows down action on the new agenda and may result in instability in the operation of the business.
Strategic change requires the communication of the current context or situation. A shared understanding of where we stand today. Often this needs good analytics to be able to show that analysis and visualise it as a clear data story. When the data team are already managing the data assets and producing metrics to show business and operational performance this can be straightforward.
The future vision of where we need to be also must be communicated and a shared understanding. This often needs the support of architects to articulate how business, systems and people interact differently in the future. Calling out the differences between the vision and the current context provides the imperative for change. The benefit statement.
Change has impacts and costs. It takes time to implement and recoup the investment involved. To achieve a strategy we have to provide a plan to show how change is delivered and the benefit realised. A lesson we can learn from the UK Government.
For more on IT Strategy and Data Strategy please take a look at my courses on Udemy and my other blog posts here.
