Core. Collaborate. Delegate. (Part 2 of 3)
By Elizabeth Albee
Is Your Core Competency Contributing to Your Organization’s Success?
Enterprise data strategy is the underpinning for a framework of capabilities that, when executed together, can not only maximize but actually increase the value of information within a company, by making sure it is aligned to support corporate strategic goals. With a successful enterprise data strategy, even the humblest data quality project can be aligned with corporate goals such as investment, customer satisfaction, or operational improvement by providing measurable improvements in key business indicators—such as forecast accuracy, client churn, transaction costs, or cycle times.
The key is deliberate alignment with future-facing corporate strategic objectives. And the best approach to achieving this kind of alignment lies in a 3-part mantra: Core. Collaborate. Delegate.
In the first article in this series, we discussed ways to identify your core competencies—the things you can control that contribute directly to the strategic goals of your company. In this article, we will take up the second part of the mantra.
Collaborate across the organization to make sure your core competency is contributing to the organization’s success.
If “core” describes what you do for your organization, then “collaborate” defines how you do it. Collaboration is what you do to ensure that your efforts are truly having an impact on the ongoing success of your organization.
In the case of enterprise data strategy, “collaboration” might focus initially on identifying what data your company has, clarifying how the data is used, and understanding the controls needed to maintain high data quality. From there, it might extend to determining key data elements, codifying business roles, defining standards, and performing root-cause process analysis to identify possible strategic improvements. Over time, you can measure your success in the improvements others will experience in their work.
It’s important to note that collaboration doesn’t come “after” you’ve developed all the tools to support your core competency. On the contrary: collaboration must inform, shape, and feed the development of core tools, so that they are meaningful and beneficial to the people that will use them. It is a conversational dynamic—compounding independent expertise from across the organization through effective cross-functional collaboration. You wouldn’t expect a workgroup wanting help on data governance to cultivate its own expertise in data quality root-cause analysis—any more than you would expect a team of data analysts to be able to read x-rays or climb communication towers. But the respective teams should be able to understand each other and agree to work together for the common, strategic good of the company.
Ultimately, the goal of collaboration is to establish an efficient “fit” between the capabilities and competencies of all groups across the organization. Doing this well helps sustain all parties—and the mutually beneficial relationships that develop can lay the groundwork for new competencies to emerge down the road, as companies mature.
In the final article in this series, we will turn to the third critical facet in achieving strategic corporate alignment: Delegate.
About the author: Elizabeth Albee is a data and information strategist with a passion for driving companies toward success by harnessing information to power innovation. You can connect with Elizabeth on LinkedIn.
Viewpointe delivers cloud-based managed services that streamline the information life-cycle and automate business processes with a foundation of compliance and information governance. Known for its time-proven expertise in information strategies and managed services, Viewpointe makes it possible to address today’s business opportunities and risks while planning for tomorrow’s challenges. Founded in 2000, Viewpointe has been named to the prestigious FinTech 100, representing the best in financial technology and service providers every year since 2006 and is the chosen partner to drive the power and promise of information governance at many of the world’s most esteemed companies.