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DATA DISCOVERY

First-step insights into
your data's potential

Data is an asset like no other. It never depletes. Never wears out. And can be used across an unlimited number of use cases.

Yet, despite companies curating larger and larger datasets, few are realising the potential latent in their systems to drive performance and generate revenue.

DATA DISCOVERY

FROM RAW DATA TO VALUABLE INSIGHTS

Intuitively, we all know that data is valuable.

After all, our inboxes and news feeds are cluttered with headlines such as: ‘data is the new oil’. Plus, businesses demonstrating data-savvy behaviour have a ~200% greater market-to-book value than the market average, according to the International Data Corporation.

Yet, whilst most business models have been radically altered by digitalisation (accelerated by the COVID-19 pandemic), many companies lack the

in-house experience to truly unlock the value dormant in their data assets.

DATA MONETISATION

In itself, the term ‘data monetisation’ can be misleading, and the inference that simply selling a database to the highest bidder is rarely commercially wise.

 

Rather, ‘insight monetisation’ might be better, as it infers that – with refinement – the insights derived from data are more valuable than the raw material.

 

Yet, to get to insights, you need to know which problems you want to solve. Size them. Understand who they belong to. And rapidly assess how your data might offer new insights or enhanced solutions.

We call this Data Discovery.

THE ECONOMICS OF DATA

Data is an assets like no other: 

Data is inert. It doesn’t breathe. Or exert force. 

 

Yet, data holds the potential of vast value — intellectual and commercial — when curated and shared.  Also data can be used across an unlimited number of use cases at zero marginal cost, meaning data is an economic tool.

 

Which is why understanding the potential of your data is the vital first step in the monetisation process.

DATA DISCOVERY WORKSHOP

RAPID, FIRST-STEP INSIGHTS INTO YOUR DATA'S VALUE

Our workshops are facilitated by data experts, adept at bridging the worlds of business and data to unearth
commercially attractive solutions.

This high-engagement session, typically with C-suite executives, is structured to assess your primary business problems, ambitions and challenges, all through a data lens.

Together, we evaluate the maturity of your current data ecosystem - assess gaps and opportunities - to set priorities and align KPIs with hypothesis on business value.

Post workshop, you receive a tightly-structured
document, playing back the workshop findings, alongside our expert recommendations for potential use cases which could monetise your data assets.

From start to finish, the process typically takes ~ 3 weeks, with limited demands on executive time.  Plus, the workshop can be delivered in-person, or remotely.

INTRODUCTION

Alignment on approach & agreement to workshop

AGENDA & HOUSEKEEPING

Objectives, high-level workshop agenda plus who should participate.  Plus, NDAs, diaries, location/virtual

WORKSHOP PREPARATION

In some instances, we might make a request for core documentation, for example, business strategy, investor deck, data strategy - where appropriate. We will also distribute a detailed agenda and pre-reading to all participants

DISCOVERY WORKSHOP

~180 min high-engagement workshop, facilitated by our expert team.

REPORT & FOLLOW UP

Workshop summary document distributed to participants & potential next steps

WHY DATA  DISCOVERY NOW?

Our clients embark on a data discovery workshop for many reasons. 

 

Sometimes, because it kicks off the data conversation more broadly, creating a shared understanding, and piques executives' interest in new value levers.

In other circumstances, a company may use the data discovery workshop as a first step towards a crafting a comprehensive data strategy, enabling senior leaders to share a language and ambition for data's value and better understand the immediate opportunities.

Likewise, we have also worked with clients who have used our data discovery workshop as part of their exit readiness assessment, preparing the narrative for data's value to inform a vendor due diligence process.

While the reasons are unique to our clients, the  urgency is the same, being: there is value latent in our data and we need to unearth it now!