What is a DataCentric Organization and how Do I Become one?

In recent years, we have frequently heard the term data-driven to refer to companies that make decisions based on data. An approach that, despite being a great advance, has limitations: in this type of company, data is still a support, not the central axis.

Therefore, taking it a step further implies evolving towards a DataCentric organization, no longer using data solely for deciding and instead placing it at the center of the entire business architecture, processes, and culture. In other words, instead of data being subordinate to applications, the applications are built around the data.. And what does that imply in practice? Let’s see:

Benefits of Being a DataCentric Organization

• Single source of truth
  To begin with, DataCentric organizations eliminate silos and duplications, as everyone works with the same data, from operations to management. This avoids contradictory versions and ensures that the entire company speaks the same language.
• Agility and technological resilience
  In addition, if an application changes, the data remains intact. This reduces migration costs, facilitates integrations with other solutions and accelerates innovation (the database is not affected by the evolution of the software).
• Better quality and governance
  On the other hand, in DataCentric companies, data is treated as a strategic asset: governed, validated, secure, and available at the right time. This increases confidence in reports and metrics and allows decisions to be made without fear of errors or inconsistencies.
• Faster and more accurate decisions
  By having unified and reliable access to data, analytics, KPIs, and AI are based on solid information, not fragments or approximations. This, in the end, translates into a reduction in analysis time and a better response to market changes.
• Regulatory compliance and trust
  Lastly, this model provides traceability and transparency that facilitate audits and compliance with regulations and standards such as ESG, GDPR or those specific to each sector.

With all these benefits on the table, the next step is to be encouraged to put them into practice. At this point, it is normal to ask yourself where to start, what to prioritize and what to leave for later, how to organize yourself…

From Becolve Digital we want to help you take that step, sharing with you our proposed journey towards a DataCentric organization.

How to Become a DataCentric Organization, Step by Step:

1. Put order in the existing data

The first step is to inventory what data is generated, where it is, and how it is consumed. This allows identifying duplications, inconsistencies, and silos, and from there, establishing a common data model.

2. Define a data governance strategy

Set quality, security, and access policies, assign clear roles (Data Owners, Data Stewards) and make sure you have catalog and traceability tools that guarantee trust and transparency.

3. Modernize the technological architecture

Opt for platforms that allow integrating data from multiple sources (OT, IT, cloud or legacy), separate data from applications and incorporate historical storage capabilities, advanced analytics and cloud.

4. Democratize data access

Consider that teams have self-service data visualization and analysis tools, along with the necessary training to interpret and use them in their day-to-day, reducing dependence on IT for each report.

5. Foster a DataCentric culture

Finally, treat data as a strategic asset –and not as a byproduct of applications–, measuring and communicating the value provided by data exploitation and promoting decision-making based on evidence (and not intuitions).

In short, moving towards a DataCentric approach is a necessary evolution for any company that wants to sustain its competitiveness. Putting data at the center is the differentiating point between managing information blindly or deciding with certainty, between reacting late or anticipating.

Although redefining data management and use may be challenging, the reward is clear: fewer risks, better customer experience, more capacity to innovate and, in general, greater competitive advantage.