November 7, 2019

It’s All About That Stakeholder

The IBI Team

Topic:   Data

When your team decides it’s time to optimize their data management and analytics investments, an initial step is choosing who to collaborate with and how to align. Your solid strategy can provide clarification for that alignment. Remember, if you make important decisions based on bad data, the risk can be monetary, reputational, operational, or even worse. You can counterbalance against the time and effort it takes if you develop a reliable data and analytics plan where all your initiatives work hand in hand.

Our own Lyndsay Wise, using knowledge from her years as an industry analyst and consultant, writes about this and more in her recent whitepaper, “Aligning Your Data and Analytics Strategies.”

One of the most important takeaways from this paper is the involvement of key stakeholders in the process. Stakeholders are more than just cheerleaders for your initiative or project, they help pull it all together in a cost-effective way, and use consensus building to get it all done.

This way, the project doesn’t initiate and die within one department. Hopefully, your stakeholder will have enough vision to be able to evangelize the plan and help realize what critical milestones to implement into the entire organization. That ensures everyone benefits from this strategic alignment.

So, who should you get on board to help you lay out your strategy and ensure implementation? There are several roles you can consider:

  • LOB experts. These folks spend a lot of time with the experts out in the field and have first-hand knowledge of technology needs, and what the pain points are for their staff. 
  • Technology leaders. Most of the time, they are data owners and understand the business value of the data. 
  • Data stewards and data owners. They know that data needs to be in a continuous loop of maintenance in order to stay accurate.

Stakeholders can also help align strategies to the overall organizational vision. Look to someone who is familiar with the people and processes that make your organization run. Work with them to ensure that they are enabling all the business leaders to make the organizational transformations needed to become more data-driven. Choose someone who has the contacts and clout to influence others.

If you find the right person, they should continue to help by bringing even more employees and business leaders into the fold. Ideal candidates are people have knowledge and experience that transcends the use of technology. They understand views across the organization that can help your company move beyond departmental deployments towards an enterprise-wide approach to data and analytics.