What a difference a year makes!
A year ago, Adam Votava and I launched DataDiligence founded on a seemingly simple premise: DATA IS VALUABLE.
But, we also knew that:
· data’s value is hard to unlock
· not reflected on balance sheets
· data projects were – notoriously – failing (80% of the time, according to Gartner)
Additionally, we noticed that while many investors & executives intuitively understood data’s value, shockingly the data itself and the ‘ecosystem’ surrounding it was not being rigorously assessed within commercial due diligence. Nor was data being actively built into business strategies beyond a misconstrued dotted line to IT spend!
So, we established our business to address what we saw as two opportunities:
1. DATA DUE DILIGENCE – to support investment decisions in private equity and M&A.
2. DATA STRATEGY & DELIVERY – to partner management teams by aligning data outputs with business outcomes, whilst underpinning delivery with interim chief data officer & data project management support, to make sure that our clients realise the value of data.
A year later, I’m delighted to say that we have worked with some amazing people and businesses, across sectors and geographies. From hospitality in the UK, to GIS in South Africa. Facilities management in Eastern Europe, to telcos in Estonia!
It’s been quite a year. We’ve grown beyond measure. Learnt from our stumbles. And hired some great talent!
We’ve also learnt that managing a start-up is brutal and bruising. Rewarding and motivating in equal measure. We wouldn’t change it for the world.
And finally, we’ve proven our hypothesis – data is valuable. It can be unlocked. It does directly impact the bottom line. And, with the right partner, data projects can deliver value.
A huge thank you to everyone who's been part of this first year - you know who you are!!
Image by Ian Schneider, Unsplash
This article was origination published on LinkedIn https://www.linkedin.com/posts/chelsea-wilkinson-35527079_privateequity-business-management-activity-6861579328161902592-STaB