This schematic may be used by participants in Data Lab CPD offerings and as a signposted resource in the Data Readiness Tool feedback.
It encourages the learner to consider different dimensions which their Data Strategy should address and, in particular, the Stakeholders whose needs should be considered.
The structure proposes documenting the wider Business Strategy and aligning theses accordingly, this asset is a worked example to show this in action.
Business Strategy
Customers: provide a personalised combination of services that differentiate on customer experience so that customers engage with us more deeply and help us co-create our offering.
Employees: create the environment that allows employees to realise their full potential so that they commit to helping us build the best offerings possible and become advocates for our organisation.
Shareholders: to consistently provide about sector, and above market, financial performance that supports our immediate and longer-term growth goals so that we provide sustainable return on their investments.
Regulators: build a relationship based upon mutual trust and transparency so that we work together for the good of our customers and our industry.
Data Strategy
Customers: create a whole view of customers that identifies new opportunities for growth and shares insights with customers so that they get more value from us, than from our competitors, and actively want to share information with us to improve our offering.
Employees: understand employee needs based upon information they share with us on their career ambitions and development opportunities.
Shareholders: use trusted data to make faster, more informed decisions to continually optimise our performance and reduce our cost-income ratio.
Regulators: visually and dynamically share information that demonstrates that we are making ethical decisions.