Data-driven begins with DATA : potential of data assets

Abstract

The objective of this study is to analyze the potential of company data assets for data-driven, fact-based decision-making in product portfolio management (PPM). Data assets are categorized from the PPM standpoint, including (product/customer/ …) master data, transactional data, and interaction data (e.g., IoT data). The study combines literature review and qualitative analysis of eight international companies. The findings underline the crucial role of corporate-widely combined and governed data model. Company business IT is adjusted against the corporate-level data model. The order of importance is data first, and the technology second. The data-driven mind-set and culture creation are also important. The implications include understanding the role and potential of combined data assets that form the basis for data-driven PPM. Facts based on company data assets are essential for decision-making instead of “gut feeling” and emotions. The utilization of the unused potential of data assets is promoted in the transformation toward data-driven PPM.