| | MARCH 20239CIOReviewReturn-on-information (ROI) It is mandatory to prioritize the potential value of data assets and products from the perspective of data users. The investment in information technology should be progressive, aligned with the business strategy of monetization, and supported by an actual return. The ROI concept is the ultimate reason for investing in data preparation and sharing. It relies on the identification of the potential value of data assets and products from the perspective of the stakeholders who oversee the business units or initiatives that require the usufruct of data. The potential value can be measurable or estimated, therefore leading to quantitative KPIs and metrics. It informs the business that the right to usufruct over a data asset has a business reason that balances the expected return on information with the appropriate levels of investment and risk. The concept of ROI is tied to the idea of data usufruct. Customer needs It is prime to understand the customer's (internal or external) needs. Sometimes, if it is a B2B, you may need to follow the chain until a B2C to understand the need. I like to think that this ultimate beneficial owner is the only one that feeds the chain with money. We need to understand what will make him pay for a product or service. This mindset will maximise the chances of business success. Collaboration with some key customers is very successful in this search for efficient investments. Break the deliverables and fail fast. Only after proving the value with a few customers, the escalation should be done. Those are, in the end, part of the ROI best practices. More than your own Data The race for data in recent digital years has transformed businesses and boosted a new market that has been essential to assisting in decision-making, optimizing costs and processes, and promoting increased revenue. In an increasingly digital world, the "footprints" we leave on the internet reveal a lot about our habits, interests, and consumption profile. In the current scenario, companies that manage to organize and extract intelligence from the ocean of data acquire a decisive competitive advantage, on the other hand, we have a great chance of being left behind. This new era in the market seems irreversible and should intensify in the coming years. As the world becomes more digital, data production, capture, and analysis are growing exponentially and require, not only a more advanced data analytics strategy but fired a hunt for external data to complement the decisions. Ecosystem CollaborationThis scenario, naturally, triggered a race for people and technologies capable of transforming data into value. All large companies have robust infrastructures and a team of engineers and data scientists prepared for the challenge. But not everything is rosy, as it is a highly complex challenge. Some organizations understood that the data they had access to was limited and revealed a fragmented scenario. Others realized that there was a big learning curve ahead of them to be able to monetize data over time-based only on their expertise. Finally, we have no capacity to focus on all initiatives at the same time. Those who did not restrict themselves to looking inside their facilities discovered that working together with an ecosystem can accelerate and enhance their experience with data analytics. Imagine that databases, areas of expertise, and technology infrastructure are Lego pieces that can be articulated to give rise to infinite shapes. If you have parts of a single model, you can assemble them in different ways, but there is a limitation. If someone gives you assorted blocks, however, your possibilities grow exponentially. Statements for ReflectionMonolithic governance will block your entering in digital era. Adaptation to risk is needed. Access controlled by the data owner leads to siloes and is risky. Developing the enterprise controls and migrating to new governance are prime. Centralised areas are overflowed and show frequently a gap in capacity and business expertise. We need to collaborate. Make all your investments aligned with a business return and transform them into KPIs. Connect with an ecosystem of data, applications, and services. Compose your offer with partners to anticipate the results. Be sure that the customer will pay! In the current scenario, companies that manage to organize and extract intelligence from the ocean of data acquire a decisive competitive advantage
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