1、Data-Driven CompanyHow data drives innovation and competitivenessWHITEPAPER02MotivationContents07Goals of a Data-Driven Company12Data-Driven Company16How to become a Data-Driven Company24Outlook and how MHP can help youGoalsData-Driven Company5 StagesOutlook2MotivationContentsMotivationUsing busines

2、s data as a key success factorCompanies have more data and data sources at their disposal than ever before.However,these are kept in individual data silos,are not linked or are difficult to access.It is therefore often a challenge to integrate and holistically synchronize data within a company.The i

3、deal vision of a Data-Driven Com-pany,in which systematic data analyses strengthen innovation and competitiveness,remains just that for many companies:an unattainable utopia.The goal is clear,but the path to it remains a mystery.The shift in corporate culture from subjective decisions to evidence-an

4、d data-based findings is becoming increasingly vital in the face of growing competition.The rapid develop-ment in the context of generative AI adds to this.Companies that fail to keep pace here will be left trailing in the wake of the competition and may lose their relevance.do not yet treat data as

5、 a corporate asset53%have not yet created a data-driven organization69%still need to establish a data culture72%see a major challenge in adopting Big Data/AI77%Sources:Harvard Business Review,Companies Are Failing in Their Efforts to Become Data-Driven;Harvard Business Review,Why It Is So Hard Becom

6、ing a Data-Driven CompanyContentsGoalsData-Driven Company5 StagesOutlookMotivation3What should companies do now?Mission&Vision The initial challenge is to integrate data and analyses into a central strategic mission and vision that align with the corporate strategy.ProcessesThe next step is to devel

7、op customized processes.ImplementationImplementing this involves developing the data infrastructure as well as promoting the corresponding skills and appropriate mindset among the workforce.It is not enough to simply build powerful technology systems on top of existing business and production proces

8、ses.The various aspects of the transformation to a Data-Driven Company must all be in harmony if they are to realize the full potential of intelligent data analysis.GoalsData-Driven Company5 StagesOutlook4MotivationContentsThe evolution to a Data-Driven CompanyCompanies can use modern data analysis

9、to gain completely new insights into their activities:they can refine processes along the entire business model,i.e.along the companys whole value chain.This not only improves operational efficiency,but also makes for better customer understanding and improves the quality of the companys own product

10、s and services.In todays business world,the relevance and potential of a generally data-driven approach is essential for success most companies recognize this.Nevertheless,the proportion of companies pursuing a data-driven approach is still very low at 25%.Practical insights and a variety of differe

11、nt analytics projects clearly reveal:the road ahead seems long and confusing,and many companies are reluctant to make the major changes that are necessary.However,since OpenAI published ChatGPT in November 2022,drastically lowering the barriers to using artificial intelligence,there has been no esca

12、ping the extensive use of data analytics and AI.This white paper shows you step by step how companies can develop and implement their strategies.This will enable them to make informed decisions with the help of data and ultimately strengthen their competitiveness and innovative capacity.In a nutshel

13、l:consolidating and intelligently analyzing all business data is a decisive key to success in todays markets.Image:Increasing operational excellence,improving customer understanding,developing products and services:Data analyses can impact the entire value chain.Data Business Model InnovationUnderst

14、and CustomerProducts&ServicesOperational ExcellenceData Operating ModelData-Driven Decision-MakingGoalsData-Driven Company5 StagesOutlook5MotivationContentsData-Driven Company:Examples and success storiesThe importance of a data-driven approach for a companys success in todays business world is beco

15、ming increasingly clear.Many industries use data to refine their processes,reduce costs and drive innovation.The following examples illustrate how companies from various sectors are using data analytics and AI to transform their business models,save costs and create added value for their customers.S

16、uccess story 1:Faster repairs,shorter downtimesA leading household appliance manufacturer has developed an innovative system that automatically informs users of abnormalities and forwards reports directly to the manufacturers customer service team or authorized service partners.This gives technician

17、s access to all relevant information,enabling them to provide the spare parts required immediately and thus speed up maintenance or repair processes.This results in reduced service costs,time savings and minimized downtimes.Success story 2:Real-time location information enable optimized logistics pr

18、ocessesA successful transport company has integrated advanced telematics systems and sensor technology into a large number of its freight vehicles.This results in 2 million datapoints being collected every day,which are transmitted to a specialized IoT cloud for further analysis.The data records pre

19、cise movement and location information,which means that accurate arrival and departure times can be displayed automatically.Real-time data provision ensures that all parties involved always have access to relevant data.This eliminates the need for manual entries and evaluations,which leads to consid

20、erable resource savings and at the same time enables logistics and operational processes to be optimized.Service costsTime savings DowntimesAnalysis of 2 million data records dailyReduction of manual work stepsLess resources through automationGoalsData-Driven Company5 StagesOutlook6MotivationContent

21、sSuccess story 3:Boosting employee performance with data analyticsA leading technology company also relies on data-supported processes in HR.The company analyzes the behavior of its most successful and satisfied managers to be able to improve internal performance.This analysis enables the company to

22、 support its managers more effectively,generating increased loyalty to the company.The results speak for themselves:HR improves employee performance by 75%while significantly reducing talent acquisition costs.Success story 4:Data-enhanced innovation processes A well-known electric car manufacturer i

23、s a prime example of practical implementation of a data-driven approach in the automotive industry.For example,this manufacturers vehicles generate 11 gigabytes of video material each per day with an average journey time of 46 minutes.The manufacturer processes this data using the science of compute

24、r vision and is accelerating research and development for autonomous driving.It is impressively demonstrating how real-time data can revolutionize modern vehicle technology.+75%Performance of employeesCosts for talent recruitmentAnalysis of 11 GB video material dailyResearch for autonomous driving7G

25、oalsData-Driven Company5 StagesOutlookMotivationContentsGoals of a Data-Driven CompanyData-Driven Companies base their decision-making on the latest methods of data analytics.They are able to comprehensively consolidate their business data,analyze it progressively and draw valuable insights from it

26、on a daily basis to make better decisions.Image:Turning raw data into business insightsDataInformationInsightsPresentation of analysisAct on basis of dataBusiness ValueAsking the right questionsCollect and make data availableBuild data productsData-Driven Business TransformationContentsGoalsData-Dri

27、ven Company5 StagesOutlookMotivationContents8In unpredictable times,a data strategy is the key to success.MIT Technology Review Insights(2021)9GoalsData-Driven Company5 StagesOutlookMotivationContentsSmart and data-driven decisionsInnovative methods of analysis that delve through the entire stock of

28、 business data provide an objective basis for decisions.This minimizes the influence of personal judgements and subjective opinions and leads to well-founded and better-informed decisions.Better understanding of customer needsCompanies can analyze customer data in depth,developing a better understan

29、ding of their customers needs and preferences.This makes customisation of products,services and interactions more effective creating greater customer satisfaction.Better products and servicesA better understanding of the customer enables improved products and service offerings to be developed.This e

30、nables companies to discover the products that are particularly popular and services that bring extra added value.Ultimately,they are able to establish a data-based product and service offering for customers and markets.Improved efficiency(operational excellence)Data-Driven Companies are better plac

31、ed to immediately evaluate how their business strategies are performing using benchmarks.Comprehensive data analyses enable companies to identify and reduce inefficiencies in their business capabilities and processes.This results in better utilization of resources,more efficient overall operational

32、ma-nagement and consequently increased profitability.Source:In unpredictable times,a data strategy is key“,MIT Technology Review InsightsWhich value is expected from data?Better understanding of customer needsImproved efficiency(operational excellence)Generation of new businessSmart and data-driven

33、decisionsBetter products and servicesReduced costs79%61%42%33%29%26%10GoalsData-Driven Company5 StagesOutlookMotivationContentsReduced costsThis increase in efficiency is coupled with reduced costs.Companies benefit from lower labor costs and often also from lower material and energy costs in produc

34、tion.Quick decisions,optimized processes and products that offer customers what they really need ensure lean processes and consequently lower costs.Generation of new businessConstantly analyzing internal business data and other external data sources helps companies to optimize internal processes and

35、 company divisions.In particular,this can open up new business opportunities or completely new business models by identifying previously unexploited potential and market segments.Better opportunity and risk managementModern analytical methods enable ever better predictions of changes and trends in t

36、he market.This helps companies to develop new customized products and services,understand opportunities and risks more precisely and prepare for future demands.Agility as a competitive advantageData-Driven Companies can react more swiftly to changing market trends and customer needs.This gives them

37、a competitive edge over their less agile rivals.This aspect becomes a significant advantage,especially in times of generative AI.This is because it is not just a question of expertise in using openly available tools such as ChatGPT or Bard,but also of quality data and the ability to develop a basic

38、model for mission-critical use cases.Improving the supply chainLogistical data analyses identify vulnerable points and changing requirements in a companys supply chains.Optimizing routes and inventory management,together with demand forecasts,leads to more demand-led,smoother,more reliable and more

39、sustainable supply chains.This is a critical competitive advantage for success,especially in todays world where the economy faces new crises at ever shorter intervals.11GoalsData-Driven Company5 StagesOutlookMotivationContentsCompliance and regulationData-driven approaches for monitoring,reporting a

40、nd verification help companies to fulfill compliance requirements and legal regulations.Companies can quickly identify potential breaches of compliance guidelines by analyzing real-time data.Data integration and analysis is a driving force for a companys competitiveness and success in the increasing

41、ly data-driven economy.Companies that pursue these goals can continuously optimize their business processes,make better decisions and adapt more flexibly to changes.A Data-Driven Company is also capable of assessing whether the use of certain data fulfills legal and ethical requirements.Compliance a

42、nd risk assessment also play a key role in the use of generative AI.The importance of generative AIGenerative AI innovatively expands the arsenal of tools and techniques in Data-Driven Companies.Generative AI creates content images,texts or videos,for example on demand.It can also generate concepts

43、and prototypes for new products,personalized responses in support functions,or code and documentation in development.Data enrichment by means of generative AI provides useful data for expanding data sets.Generative AI can fill in the gaps left by missing data by generating realistic data that is coh

44、erent with the existing data.Companies can also support strategic planning by using genera-tive AI to simulate business scenarios in order to forecast the potential impact of decisions.of HR managers surveyed already use generative AI.*This technology enables HR departments to use chatbots to effici

45、ently interview applicants and internal target groups alike.*According to a survey by the German Association for Personnel Management(DGFP)12GoalsData-Driven Company5 StagesOutlookMotivationContentsData-Driven CompanyMHPs understanding of a Data-Driven CompanyMHP is a leading IT consultancy that sup

46、ports companies in their transformation into data-driven organizations.We combine cross-industry consulting expertise with a comprehensive understanding of modern technologies and data management.We have successfully supported many companies in their business transformation.We have used this accumul

47、ated experience to develop a targeted consulting approach that is based on central key aspects.This consulting approach facilitates business and IT working together.In this way,we ensure that the transformation of your company into a data-driven organization is a lasting success.ChallengeData-Driven

48、CompanyKey Dimensions Data-Driven CompanyStrategyAnalyticsOrganizationTechnologyDataPeopleWhat is a Data-Driven Company?A Data-Driven Company sees data as a strategic asset throughout the organization and uses it for analytical decision-making along the entire value chain.In particular,the data info

49、rms the use of innovative artificial intelligence methods.A data-driven business uses data from internal and external sources to answer specific strategic and operational questions and derive soundly-based decisions.This makes it easier for com-panies to exploit their accumulated knowledge to influe

50、nce the market and their customers.This form of data agility enables companies to capitalize on competitive advantages and strategically expand their market position.13GoalsData-Driven Company5 StagesOutlookMotivationContentsStrategyMHPs approach begins with developing a clear vision for the transfo

51、rmation of your organization into a Data-Driven Company.This means making data-based decisions a key value driver and understanding the added value behind them.Our consultants work closely with your management team to define the strategic goals and create a framework for the future data strategy.We

52、identify strategic areas in which data-driven decisions can have a major impact.This might be in optimizing business processes,improving customer loyalty or developing new business opportunities.OrganizationRoles,responsibilities and processes need to be redefined to ensure an effective transition t

53、o a data-driven organization.MHP supports companies in defining clear responsibilities for managing data inventories,taking legal and ethical considerations into account.To this end,we establish data protection and security guidelines to ensure that data is handled responsibly.DataCareful evaluation

54、 of the existing data landscape is fundamental to our approach.We determine the relevant,necessary and missing data with the aim of creating a single source of truth(SSOT).This serves as a company-wide,reliable source of data.All data is consolidated and processed centrally here,providing consistent

55、 findings.The SSOT is a crucial building block in a Data-Driven Company.It ensures that all departments and employees have access to the same information,irrespective of where the data originates from.AnalysesWe work with you to identify possible use cases for data analyses in your company,support y

56、ou in prioritizing them and help you select the appropriate analytical methods for implementation.Use cases can be both strategic and operational in nature and target different areas of the company.For example,data analyses could be on customer behavior,product performance or market trends.Challenge

57、14GoalsData-Driven Company5 StagesOutlookMotivationContentsTechnologiesA robust technological foundation is essential to achieve the objectives of your data strategy.MHP helps your company to select and implement the right technologies to collect,store,process and analyze data.Big data platforms,dat

58、a warehousing and cloud technologies as well as reporting and AI tools based on these are commonly used for this purpose.When selecting the technology,we pay particular attention to its scalability and future-proofness.PeopleWe are acutely aware that employees are a key success factor in the transfo

59、rmation to a Data-Driven Company.MHP therefore places great importance on strengthening data expertise within your company.We train employees in the necessary skillsets for handling data and analyses.A data-oriented corporate culture is important to ensure a positive attitude towards the use of data

60、.Involving and supporting employees on this journey in good time is not a nice-to-have,but an important prerequisite on the path to successful transformation.Overall,MHPs holistic approach is an approach for companies that want to use data to their strategic advantage.Combining strategic vision,inte

61、lligent data management,targeted analyses,organizational restructuring,technology implementation and targeted empowerment of employees in handling data,MHP supports your company on its way to becoming a successful Data-Driven Company.We particularly focus on the specific challenges and opportunities

62、 presented by generative AI,which can give you a decisive competitive edge right now.Data-Driven CompanyContents15The importance of use cases in the transformation strategyUse cases can answer specific business questions,make an important contribution to fulfilling corporate goals and generate added

63、 value.MHP works closely with the specialist departments to design these use cases,so companies gain deep insights into their business processes.The primary goal is to enable well-founded decisions and optimized processes,whether in product and service development,supply chain management,customer ex

64、perience or other business-critical areas.It is hard to overemphasize the importance of the latest developments in the field of artificial intelligence,in particular generative AI,for a Data-Driven Company.MHP uses AI-technology e.g.to analyze large data sets or to reveal complex patterns that are a

65、lmost impossible to implement using conventional methods.This significantly expands the range of potential use cases and allows companies to generate new information and insights that create innovative strategies and competitive advantage.PerformanceManagementData Products&ServicesProcessDigitalizat

66、ionBusiness ValueTransformational value of all business areas achieved by leveraging Data Analytics&AIData-DrivenCompanyChallengeIncreasing com-plexity,data availability,high manual effort,lack of transparencyKey Dimensions Data-Driven CompanyData-Driven Decision MakingStrategyAnalyticsOrganizationT

67、echnologyDataPeopleDataManagementData Quality AssuranceData Security,Safety&PrivacyData EthicsDataAnalyticsData Visualization&CommunicationData Culture&LiteracyDATAIoTEcosystemsCustomerCentricityBusinessModelsPerformanceReportingPlanningSimulationAdvanced AnalyticsRPAProducts&ServicesBusiness Perspe

68、ctiveImage:Use cases for intelligent data analysis methods can be positioned along the entire enterprise value chain.GoalsData-Driven Company5 StagesOutlookMotivation16GoalsData-Driven Company5 StagesOutlookMotivationContentsHow to become a Data-Driven CompanyThe five stages of maturity on the way t

69、o becoming a Data-Driven CompanyMaturity models are a useful tool for companies to determine where they stand and derive their target vision for a Data-Driven Company.It is important to recognize your own starting point to be able to know the precise next steps that are necessary on the way to the h

70、ighest level of maturity of the Data-Driven Company.It also helps to keep checking that the company is on the right track.A maturity model shows companies how far they have progressed in their transformation process.The process is not necessarily a linear path to completion;continuous monitoring is

71、needed.Data driven capabilitiesData maturity level,influence data has for decision makingThe usage of data in organizations and projects will almost always have positive effects on the outcome.Attaining a high data maturity level should be the goal for many organizations,processes,products&services.

72、MHP can help to identify areas how to determine the right maturity level for each part of the business and how to get there.Organisation is unaware of data and how to use it.Organisation is curious but not able to use it effectively.Data is used when needed in a reactive manner.Data is used in most

73、processes for decision making and foundation for some strategic initiatives.Data first,data is used for all decision making,high degree of automation.Key component for strategy,products and services.Data DenialData AwareData InformedData EnabledData Driven17GoalsData-Driven Company5 StagesOutlookMot

74、ivationContentsData Denial:Lack of a data culture in the companyAt the first level,companies are not aware of the added value that can be created from their data.Nor do they realize how they could extract it.Data is generally used reactively in response to specific enquiries or problems.There is a l

75、ack of a systematic and comprehensive data strategy as well as automated processes to collect,amalgamate and analyze data from various sources.At this level,companies only integrate data into their business processes to a comparatively limited extent.The possibilities of data analysis hardly play an

76、y role in strategic decision-making.To make the leap from this first level to a Data-Driven Company,companies must gradually promote the use and importance of data.An environment of data-based decisions needs investment in data infrastructure and employee empowerment.Data Aware:First steps towards a

77、 Data-Driven CompanyAt the second maturity level,a company uses advanced data analytics in a fragmented way,for example at individual department level.Project or department-wide initiatives create data value in their respective areas.There is still only a small number of data sources included and th

78、e data quality could be improved.Departments use data within their confines without a comprehensive company-wide strategy.This basic level of data-based decision-making lays the initial foundation stone for a centralized data department.What is missing is cooperation between departments and the intr

79、oduction of standards for data management.The aim is to integrate data across departmental boundaries and create a company-wide data platform.Data DenialData AwareData InformedData EnabledData Driven18GoalsData-Driven Company5 StagesOutlookMotivationContentsData Informed:Transition to proactive data

80、 utilizationThe third maturity level on the way to becoming a Data-Driven Company begins to make company-wide data-based decisions:Data plays a greater role at this level,even if it is not yet the main decision-making criterion.The focus of the data analyses is essentially limited to historical eval

81、uations.Data is used consistently across departments.To this end,data standards and processes are defined throughout the company.A data management team is given responsibility for data standards and processes to ensure central coordination of all data and enable increased consistency and quality of

82、data across the company.Multiple departments can access common data sources in a standardized way and gain deeper insights through analysis tools and platforms.Data is no longer only used in isolated departments;instead,data-based insights are shared across the organization.This strengthens cross-de

83、partmental dialogue and increases data expertise within the company,which can be seen as the first step towards an established“data culture”.These structures created at the third maturity level will be integrated into a larger unit in subsequent levels.Data Enabled:Data analyses in most processesThe

84、 path to the fourth maturity level of a Data-Driven Company leads to strengthening standardization and data integration.A centralized data platform is available throughout the company,accompanied by training in data skills and analysis techniques.Data-driven decision making is considered the standar

85、d in the company.Data is systematically collected,aggregated and integrated across departments in order to gain a more comprehensive view of the company.A central data department is responsible for administration,quality assurance and integration of the data.Advanced and predictive data analysis met

86、hods,such as predictive analytics and machine learning,generate in-depth insights from the data and become a decisive factor in decision-making.The company pursues an active data strategy that is integrated into the overall corporate strategy.This also makes it possible to manage and develop data an

87、alytics and AI use cases to fulfill corporate goals.The companys employees gain a better understanding of data and deepen their expertise in handling data both from a professional and a technological perspective.Day-to-day business data is increasingly recognized as a strategic asset.Integrating dat

88、a,its monetization and the development of a data marketplace are now at the heart of the companys strategy.Data DenialData AwareData InformedData EnabledData Driven19GoalsData-Driven Company5 StagesOutlookMotivationContentsData Driven:All decisions are data-basedAt the highest maturity level,the dat

89、a strategy is closely intertwined with the companys overall strategy.Data analyses are deeply embedded in the business model and corporate culture.Data integration is implemented seamlessly across the entire company.Data is collected,aggregated and analyzed in real time from a variety of sources.The

90、 company makes intensive use of data analytics and AI use cases:to optimize business processes and capabilities based on real-time data,solve complex business and customer problems and predict trends.The company is also able to react rapidly and agilely to changes in the market environment and activ

91、ely shape them.Employees make decisions with the help of data analysis systems or rely on fully automated decision-making processes.The technologies for the Data-Driven Company model are always up to date.Data is successfully distributed beyond the companys own boundaries as a product or service via

92、 modern data marketplaces.The company has successfully established a data ecosystem as a strategic competitive factor.Companies at this level will also be the first to develop their own basic models for generative AI so as to exploit competitive advantages.Once they have reached the highest level of

93、 maturity though,the journey does not end for companies.Constant promotion of the data culture and further development of a data organization remain crucial in order to maintain motivation,satisfaction and transparency with employees.An open and flexible corporate culture that values change and prom

94、otes innovation is key to this.The ability to use data not only to optimize,but also to discover new value and business opportunities is the hallmark of a mature Data-Driven Company.Data DenialData AwareData InformedData EnabledData Driven20ContentsTransformation into a Data-Driven CompanyGeneral ma

95、nagement and the IT management levels,including the CIO,CDO and CTO,face the joint challenge of paving the way to holistic Enterprise Data Management(EDM)in close cooperation with experts from the individual specialist areas.But how can the transition to a Data-Driven Company succeed?This transforma

96、tion process is continuous and can be tracked and evaluated using the various maturity levels.Data strategy It is crucial to develop an effective data strategy to take the first step towards becoming a Data-Driven Company.This corresponds to the first maturity level(Data Denial).Companies do not yet

97、 recognize the added value of their data and do not pursue a systematic data strategy.Companies must clearly define their data objectives and ensure that they are consistent with the overarching corporate strategy.The data roadmap analyzes the current status and identifies gaps.The business value as

98、pect focuses on recognizing and using the added business value of data.Data transformation The second step,data transformation,corresponds to the second and third maturity levels(Data Aware and Data Informed).This is where companies start to use data in a fragmented way.There are also the first sign

99、s of a company-wide data strategy.The various aspects of this step,such as data principles,architecture and technology,are crucial to improving data integration and analysis and pursuing a coherent data strategy.Focus topics The third step concentrates on the focus topics and corresponds to the four

100、th and fifth maturity levels(Data Enabled and Data Driven).Here,companies are able to use data analyses in most processes and all decisions are data-based.Topics such as operational excellence,customer centricity and data monetization will be crucial to complete the transition to a fully Data-Driven

101、 Company.THE MATURITY MODEL IN PRACTICEGoalsData-Driven Company5 StagesOutlookMotivation21GoalsData-Driven Company5 StagesOutlookMotivationContentsThe five maturity levels provide companies with a clear framework for measuring their progress towards becoming a Data-Driven Company.It is important to

102、know your own starting point and to review it regularly.This ensures that a company remains on the right track.Training&EnablementUser CentricityMethods&ProcessesCompliance&SecurityToolingOrganizationCorporateStrategyAlignmentKey DataObjectivesData Mindset&SponsorshipWhite-spotsDerivedActionsAs-IsAn

103、alysisBusiness ValueData RoadmapArchitectureTechnologyBusinessData ObjectivesDataUse CaseMiningData Vision&MissionUse CaseMgmt.Continuous ImprovementDataStrategyData-DrivenCompanyDataTransformationData Principles&PoliciesData OrganizationDataProcessesData Model&MetaData ManagementArchitectureVisionD

104、ataArchitectureReferenceArchitectureDevOpsDataPlatformCloudFoundationAPIMgmt.BusinessModelInnovationBusiness ModeEvaluationGo-To-MarketStrategyBusiness TransformationMaster DataManagement&Data QualityOperationalExcellenceInnovativeProducts&ServicesCustomerCentricityData MonetizationData-Driven Decis

105、ion MakingIoTEcosystemsCustomerExperienceFocus AreasImage:At a glance:The development process towards a Data-Driven Company.Contents22Data cultureA data-driven corporate culture promotes change.It is open to the new,data-driven way of making decisions.Data-driven decision making is established,accep

106、ted and maintained in favor of the highest possible objectivity.In this context,data leadership by top management also plays a key role.Data expertiseThe company invests in developing its employees data expertise.Training provides the knowledge required to adopt the data-oriented working approach.Co

107、aching formats ensure that what has been learnt is actually applied successfully in day-to-day working life.Open communication,knowledge sharing and promotion of a learning mentality support the data-driven culture in the company.Data governanceData governance integrated into the processes regulates

108、 access to data to ensure security and data protection.Data governance is also necessary to establish a professional data organization and thus also to advance the foundations for roles,responsibilities,collaboration models and a uniform understanding of data terminology.Within this framework,clear

109、guidelines define the handling of sensitive data in order to adhere to compliance regulations and ethical principles.Data qualityIntegration of data sources should enable a holistic view of the business.Results of data analyses can only be as good as the quality of the data used.For example,all data

110、 sources must ensure that their data is up-to-date and correct.Criteria for long-term success of a Data-Driven CompanyWhether a Data-Driven Company can maintain its high level of maturity in the long term depends largely on the following aspects:Data expertiseData qualityData cultureData governanceG

111、oalsData-Driven Company5 StagesOutlookMotivation23ContentsIn summary,the transition to a data-driven corporate culture can only happen with a clear focus from the management level,technological investments,the promotion of data understanding and cultural change.The transformation process to become a

112、 Data-Driven Company is never-ending.Rather,it needs continuous further development,integration of new methods and technologies and constant review of the data strategy.Continuous further developmentCultural changePromotion of data understandingTechnological investmentsClear focus of the management

113、levelGoalsData-Driven Company5 StagesOutlookMotivation24GoalsData-Driven Company5 StagesOutlookMotivationContentsOutlook&how MHP can help youOutlook:How the data-driven approach is dominating the marketData analytics and artificial intelligence are becoming increasingly important in the light of rap

114、id technological developments,especially when it comes to revolutionizing traditional business models.Companies that continue to develop towards a Data-Driven Company are securing a clear competitive edge over less progressive competitors.Viewing data as a strategic asset and investing in AI-support

115、ed analyses should therefore not be viewed as a nice-to-have,but as a necessity to overcome the challenges of the modern business world.The ability to analyze data,identify patterns and derive insights from them enables companies to make quicker and better decisions,act more agilely and offer innova

116、tive products or services.Early investment in these areas can help companies not only to be competitive,but also to stay one step ahead.25GoalsData-Driven Company5 StagesOutlookMotivationContentsStrategic consultingWe develop a clear roadmap tailored to your business environment to ensure that your

117、transformation into a Data-Driven Company is targeted and successful.Technical expertiseOur experts are familiar with the latest tools and technologies and their use in a wide range of industries to implement suitable solutions.Cultural changeThe transformation into a Data-Driven Company calls for a

118、 change in the mindset of your employees.We support you in introducing a data-focused corporate culture that promotes innovation and agility.To this end,we work with you to develop suitable communication measures that not only emphasize the possibilities of data analysis to your workforce,but also e

119、nsure greater acceptance of the corresponding measures.Sustainable successWe create future-proof solutions for our customers in data analytics and AI and ensure sustainable,long-term success.As well as the operational implementation of data analytics and AI solutions,we also advise you on designing

120、and developing a use case management approach.In this way,you not only identify the most lucrative use cases,but also achieve sustainable,efficient implementation.The holistic data-driven approach calls for not only technical expertise,but also a profound change in the corporate culture.We are the o

121、nes to accompany you on this journey.We work with you to design a customized transformation plan for your company and turn data into insights,opportunities and competitive advantage.Our team of experts will support you in every phase,from the initial assessment to the operation of data-driven soluti

122、ons.Take the first step towards a data-driven future for your company and contact us today!MHP:your guide to a successful Data-Driven CompanyMHP supports you on your way to becoming a Data-Driven Company.This is how we can support you:26ContentsPublished byAuthorsMHP Management-und IT-Beratung GmbH

123、ENABLING YOU TO SHAPE A BETTER TOMORROWMHP digitizes its customers processes and products as a technology and business partner and supports them in their IT transformations along the entire value chain.A digitalization pioneer in the mobility and manufacturing sectors,MHP transfers its expertise to

124、a wide range of industries and is a premium partner for thought leaders on their path to a better tomorrow.MHP serves over 300 customers worldwide.These include leading corporations,innovative SMEs and disruptive start-ups.MHP advises both operationally and strategically and provides proven IT and t

125、echnology expertise as well as specific industry know-how.The management consultancy is an international operation with headquarters in Germany and subsidiaries in the USA,the UK,Romania and China.MHP has been shaping the future together with its customers for over 27 years.More than 4,000 MHP emplo

126、yees share a common commitment to excellence and sustainable success.This is the aspiration that continues to drive MHP today and in the future.Dr.Horst-Florian Jaeck Partner Big Data Analytics&IoT TechnologiesSaeid Vanaki Senior Manager Data Strategy&GovernanceContents27Publishing InformationMHP Management-und IT-Beratung GmbHFilm-und Medienzentrum Knigsallee 49 71638 Ludwigsburg l GermanyTel.+49(0)7141 7856-0 Fax+49(0)7141 7856-199 E-Mail: