 Data Driven Business

Make informed decisions based on data

Data Driven Business is a style of thinking and leadership in companies in which entrepreneurial action is supported by data in order to make informed decisions and optimize business processes. Thus, intuition and personal experience can be supplemented or replaced by data-driven insights.

Data-driven decisions with Data Driven Business

The idea is to enrich data about existing products and services, thereby making existing business processes more precise, faster and more automated. For each company, a customized strategy is developed on how the data can be integrated into the business model in a way that increases efficiency.

Why data quality is crucial

Market situations change constantly and in ever shorter cycles. The challenge for companies is to respond to these changes quickly and consistently.

Accurate data is key to rule- or AI-based decision support in this regard.

The more data is available about the market and the company’s own products and services, the more precisely and reliably processes can be optimized. Although the amount of information in companies is growing unceasingly, the quality is often uncertain or even insufficient. Additionally, the management of enterprise data takes place in distributed silos, which means that data is not available across the enterprise.

Data quality is a competitive advantage

The systematic collection of historical operational and market data gradually allows to continuously increase the level of data transformation and automation and to optimize the accuracy of decision support.

The better the data quality, the more logical the business decisions – an unbeatable competitive advantage.

Grasping change as an opportunity with Data Driven Business

The transformation to a data-driven business places high demands on management, the organization and all employees. What is needed here is “leadership by example,” a cultural change controlled from above to involve all areas of the company.

Digital transformation from a business perspective makes it clear that change offers an opportunity to optimize business processes and models.

How to get started in data-driven business

Digitization projects are complex and cannot be planned completely with certainty. That’s why we follow the “think big, start small” approach to ensure your long-term competitiveness.

Crucial to this are a use case-based approach and agile project methods. In this way, new findings and framework conditions can be taken into account on an ongoing basis.

With our phase model, which runs in an agile loop, your entry into the data-driven business will also be successful.

1. Data-driven process optimization” project planning

2. Create & prioritize use cases

3. Praxistest des Use Cases (Proof of Concept)

4. Validation of data structure, availability & quality

5. Business Case Solution Design (Organization, Technology, Architecture, Data)

6. Implementation & roll-out

With SMF's Data Hub concept to Data Driven Business

In principle, a data hub is suitable for companies that previously managed their own corporate data in distributed silos, which meant that it was not available throughout the company.

Digital transformation thanks to Cloud Native

Our Data Hub concept is based on cloud-native implementations, the ideal means for Data Driven Business. Cloud Native means that the strengths of modern cloud services (hyperscalers) can be used optimally. A shift from classic lift and shift to modern architectures is the key factor for Digital Transformation.

Advantages of the SMF Data Hub concept

Take advantage of a data hub and enable data-driven decisions and business processes based on verified facts.

Consolidation

of relevant enterprise data from distributed silos

Unified data pipeline

Enrichment of information from external sources

Data access possible at any time

through transparency in all areas

Long-term backup, archiving

and use of the operating knowledge

Independence from change

in the operational systems

End-to-end consideration

of all processes through merged data streams

(Ad-Hoc) Analyses

of system states and complex changes

Fast connection

and provision of new data sources

Optimization of everyday operations

through rule-based workflows

Data-driven predictions

and data-driven business processes

RWE success story

Our customer RWE started more than 10 years ago to implement an individual market data platform (Data Hub), which today is the basis of very successful business operations. From the start of the project, the goal was to back up internal operating decisions with external data. Today, more than 200,000 external pieces of information are read in from the Internet every day, supplying adjacent solutions with data and thus optimizing decision-making capabilities.

Your contact

Together we determine your individual needs and coordinate your wishes and goals. Please use the contact form and we’ll get back to you as soon as possible.

Torsten Schlutow

Senior Sales Consultant

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