Step 1: Deep Understanding of Industry-Specific Challenges
Sector-specific studios allow for a deep understanding of each industry's unique challenges, regulations, and customer expectations. This knowledge enables the development of tailored solutions that address these specific needs.
Step 2: Cross-functional expertise
Centers of excellence provide specialized knowledge in key functional areas. This expertise can be applied across different sectors, ensuring that best practices in areas like data management, cybersecurity, privacy, and AI underpin all solutions.
Step 3: Innovation and Best Practice Sharing
The hybrid model facilitates sharing innovations and best practices across sectors and functional areas. This cross-pollination can lead to more innovative and effective solutions.
Step 4: Efficiency and Cost-Effectiveness
By leveraging shared expertise across sectors and functional areas, organizations can achieve greater efficiency and cost-effectiveness. Resources and knowledge can be utilized more effectively, avoiding the need to reinvent the wheel for each new project.
Step 5: Holistic Approach
This model ensures a holistic approach to problem-solving. By considering both the sector-specific context and the broader functional expertise, solutions are more likely to address all relevant aspects of a challenge.
Expertise in areas like cybersecurity and privacy can effectively mitigate risks associated with data breaches or non-compliance. This is particularly important in today's digital age, where data security and privacy are paramount.
Step 7: Return on Investment
The final step involves a data-by-design program, integrating data management, ethics, privacy, quality, and security considerations at the start.
Shifting data left, capturing, storing, and using it based on intent with integrated handling of linkability, quality, regulatory, and security aspects ensures a holistic framework aligned with business goals.
Continuous Feedback and Improvement
Transformation is an ongoing process. Establishing training and monitoring systems for continuous feedback and improvement ensures that data by design and AI initiatives remain agile and adaptive.
This iterative approach accommodates evolving technology, regulations, data sources, and business strategies, enhancing decision-making insights.