The Data Gambit is an interesting read by McKinsey. They point out that large companies sit on a trove of data that can help them gain a competitive edge.
The combination of idea (i.e. a vision that can be measured against KPIs), assets (internal and external data, complying to regulations) and attitude (mindset, roles, ramped-up IT) is a good starting point.
Let’s add in anonymization and pseudonymization of free text – remember that 80% of enterprise data comes unstructured and needs to be scanned for personal information before it can be passed on even to internal analytics teams.
Also, just relying on internal data is often not enough. How often had we heard at Glanos of pentabytes of internal data and millions of documents and that all the answers should be somewhere in this haystack. Truth is, after deduplication and removing noise and junk, even sizable internal datalakes often show striking gaps.
You need external data – through news monitoring, through fact databases, through b2b company databases – to get a full picture.