Data assessment model for strategic management

Abstract

A data-oriented culture enables new ways of building competitive advantage, but also requires new type of managerial skills. Despite of fast-growing attention to data assets, there are very few managerial tools for the purpose. In this paper, we propose a new data assessment model for strategic management. The model makes the organization's analytical capabilities and development needs transparent. The model consists of three phases and uses an easily communicated four-field model for mapping existing data and discovering new possibilities. The model helps to identify what datasets the organization could use in analytics and to assess them according to their strategic importance. Therefore, organization's development resources can be targeted effectively. The relevancy of the model was discovered during empirical studies with regional organizations on business analytics maturity.