MANAGING in the

NEW WORLD

In order to build a sustainable digital business, a digital data architecture is needed first. This data-driven approach is the key difference between the leaders and laggards. A lot of companies instead use a tech-first approach. This approach leads to an inconsistent and redundant data warehousing. As a result, it gets cumbersome to extract insights when needed.This model is not sustainable over a period of time. It leads to an overlap between the functions to be performed. The present model requires added speed due to the diverse sources of information seeping in. Thus, the two-speed principle needs to be applied which adds new age speed to legacy IT systems. This system helps the transparent management of data flows, to protect against data inconsistencies or the formation of silos. One clear demarcation of capabilities has been effected, operational reporting and advanced business analytics get easier to implement. In addition to the warehousing already mentioned about, the architecture needs to address the data consumption and distribution. A master data management infrastructure has to be built in. The sourcing points too need to be specified.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/why-you-need-a-digital-data-architecture

Uploaded Date:13 November 2018

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