Data Strategy

Enterprises can have diverse big data strategies based on the business needs. But the right thing to do is to depend on the enterprise objectives and strategic agenda to give them the best big data strategy as well as the meaningful impact of the big data initiatives. Identifying the need, for example, what an enterprise needs to achieve, prediction of seasonal trends, identify extra overhead costs, give a momentum to innovation it gives the right direction to proceed with.

Strategy

We identify two things, firstly the main objectives/ Big Data goals and secondly all the necessary stakeholders, business processes, and existing tools and technology used and the cultural change the organization and its resources will go through. Parkar has embarked upon many Big Data initiatives to take a data-centric view of enterprise data and ensure that Data ownership, accountability, and responsibilities are defined for key stakeholders and governance bodies. With the help of our research team, we identify gaps, understand the data need and data realities within the existing system. Data is then defined, sourced and used as intended. Decision rights are assigned and managed for Regulatory and compliance needs, Meeting Data quality requirements, Business processes, Security and privacy needs, and Operational SLA’s.

Roadmap

Here, we build conceptual data models. These models are generally represented as entity relationship diagrams (ERD) and their purpose is to provide a better understanding and capture business information from a data rather than any other sources. It is reviewed by all the stakeholders involved and then a final roadmap is created after confirmation. The conceptual models capture details such as key business entities which may be in the form of persons, places, concepts, events or things about which the organization wants to collate data, and the relationships between these entities.

Set Priorities

The next step is setting the priorities for the big data initiative. We explore the outcomes of Big Data for yourenterprise strategy and business processes.This step is to determine which of the business requirements can be optimally addressed by a Big Data solution and what can be done about the rest. We perform an in-depth assessment of the “as-is” current environment and IT systems, identifying and uncovering typical opportunities for Big Data. We deliver a customized Big Data Business and Technology Alignment Document which has the detailed list of short and long-term business objectives and initiatives aligned to Big Data technologies needed for Big Data implementation. The document includes a cost/benefit analysis of the impact of big data technologies on resources, assets and processes involved.

Obtain Buy-In

This step involves obtaining buy-in from all the relevant stakeholders whose support is important and critical to the project. To obtain stakeholder buy-in we prepare a clear presentation where we detail the scope, risks, dependencies, timelines, metrics, measures, schedules, cost analysis, budget, hardware and software costs, Infrastructure costs, financial terms and conditions, rules, policies, assumptions, resources involved, extra costs if any etc. are all made clear and visible to all.

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