LoQutus & Vlerick Business School Red Book: Designing information-driven business
Digital transformation is high on the agenda in many organisations. Today, more than ever, organisations understand that “Digital” goes beyond apps, UX or the front-side in general. To enable that “Digital Story” a strong back-end execution capability is needed, aligned to the new digital front organisations are building.
As we discussed in previous Vlerick-LoQutus research, the role of the enterprise architect and of enterprise architecture has clearly increased in building this internal digital capability. An important part of that internal capability is how to deal with data, information and knowledge. In this report we further explore how to leverage information management to create value for the organisation. The findings of the report are based on co-creative research between Vlerick Business School and its Prime Foundation Partner LoQutus. Further insights were obtained from the various sessions of the “Vlerick Centre for Excellence in Enterprise Architecture” (2016-2017 period) in which the following organisations participated: LoQutus, Axa, Base, BPost, FOD Financiën, Eandis, ING, NMBS, P&V, Proximus and Swift.
The result is a framework which will be used to zoom in on 4 components deemed important to create value from information management:
1. Open world - Open Data
The amount of data we produce and consume has increased dramatically the last couple of years. A decade ago most data was generated and captured inside organisations. Today this is no longer the case. More external data is becoming available from different external sources.
2. Information Quality
Both the amount of information and the amount of information sources have increased significantly over the last years. Although data quality concerns are not new, the transformational impact and growing role of big data add significance to the importance of data quality.
3. Establishing Trust
Information quality is the first key ingredient to generate value from information management. Even the most advanced models and analytics can not make up for poor information quality. But it is not the only key ingredient. The second key ingredient is trust. Trust within and outside the organisation.
4. Exploiting and Exploring Information
Many of organisations today are going through a digital transformation of their business: leveraging social media, incorporating mobile in a new omni-channel distribution, migrating to cloud-based solutions, transforming to a platform-based business. One of the major challenges is balancing the 'running the business' and 'renewing the business'. Organisational ambidexterity describes the co-existing corporate abilities of running the current operations as well as being able to continuously adapt the organisation to a changing environment. With other words, the ambidextrous organisation shows both exploitative and explorative strengths at the same time.