How to quantify and build a business case for a modernized data initiative
Showing business value of a complex data initiative, like an enterprise-wide data hub, can be a difficult endeavor. One reason is that stakeholders have different priorities and ideas about what constitutes “value” and how to measure it (e.g., cost savings, ROI, risk reduction, etc.). It’s important to clearly define business goals and align stakeholders on what metrics to track to determine success. Additionally, when it comes to implementing an enterprise-wide data hub, many companies take on more than they can handle, inflating time and cost to a point where value is negatively impacted. Instead, we recommend starting small, onboarding one line of business (LOB) to the platform at a time, focusing on a specific use case, and building off those successes that clearly show business value.
This white paper includes:
- What business value will your data initiative deliver?
- How to perform an effective business value assessment
- Make the business case and proving the business value of data initiatives