Building a great data platform according to McKinsey

September 25th, 2018 by Energyworx

Five insights into building a great data platform according to McKinsey

  1. Make “rapid return on investment” your watchword when selecting use cases. Leading companies achieve substantial impact fast with their platforms by being clear on which high-impact, quick wins to prioritize.
  2. Build your platform piece by piece. Start with the data you already have and tackle the use case or end-to-end workflow that has the greatest opportunity for impact.
  3. Ensure you focus on people and processes, not tools. No matter how advanced the tool, it will be worthless without the talent and structures for managing and using it.
  4. Ensure you focus on people and processes, not tools. No matter how advanced the tool, it will be worthless without the talent and structures for managing and using it.
  5. Gear your platform to democratizing data. Make data available to all your employees, teach them how to use the data, and see what unsuspected value they can unlock for your organization.

Source: McKinsey report 2018, Building a great data platform

— Energyworx

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