Study shows: data investments pay off

23.02.2021

A well-thought-out approach to data in your organisation really does bring benefits and yield as much as 60 per cent in ROI. We take the test as part of Orange’s data journey webinar series, starting on 23 February. 

Nowadays everyone knows data is important, but how do you convert the data in your organisation into actual value? We discussed the data journey with Boris Lemaire, Strategy Development Manager at Orange. 

 

Four key areas 

He pointed out an interesting study conducted by research agency IDC. This study is based on four operational processes that generate data: customer contacts, innovation, operations and support. ‘Based on these operational processes, your organisation invests in four areas. You start by expanding your data. One of the ways to do this is to collect data using the Internet of Things. Another possible way is to use mobile network data from Orange Data Analytics. Secondly, you pave the way for new - and more sophisticated - forms of data analysis. Machine learning is one such example.’

The third area is performance indicators. They make it possible to monitor operational processes to improve the management of your organisation. ‘And finally, the fourth area for your organisation to invest in: sharing more data. In addition to sharing data with employees you can also, for example, share data with suppliers or customers,’ Boris Lemaire explains. 

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Leverage

This model creates a kind of leverage. ‘Investing in a single area is not enough. Ideally, you’ll invest in all four,’ Boris Lemaire suggests. While it’s more difficult, it yields greater results. The study shows that organisations that succeed in doing this (data leaders) boast a return on investment that is an astounding 60 percent higher than organisations that don’t (data followers). This higher return is generated through increased revenues, improved productivity and lower costs.

 

Data journey

Use the data journey to help you structure the investments in the four domains for greater efficiency. A complete data journey starts with data collection—from using the IoT for example—followed by the transport, storage, processing, analysis, sharing and creation of figures. Security is the foundation that underlies the entire process. The data journey and its gradual approach has already proven useful. It’s an approach that can bring excellent results for organisations. ‘Orange coaches companies in every phase of the data journey, helping your business identify the most suitable, suitable, tailored solution. 

 

 

 

Want to find out more about the data journey? Take a look at our IoT webinar or contact your account manager for more information.

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