Unlocking business opportunities by applying mm1 Data Thinking methodology

Many companies already have Big Data on their agenda for quite some time - but struggle with seizing the hidden treasure from their data oceans. mm1 provides a quick guide poster outlining the procedural model "Data Thinking". The approach helps companies in successfully overcoming internal obstacles which come along with unlocking data-driven business opportunities.

Data and information are the new gold of future-oriented companies. There is hardly any company that is not aware of the potential benefits of analyzing heterogeneous datasets. However, the relevant data sources are mostly distributed over numerous departments, locations or areas of responsibility. "Approaches across departments and close interdisciplinary collaboration between IT and business departments are necessary for gaining benefits from Big Data," says Niclas Duchscherer, Managing Consultant with mm1.

Nine steps to get to the benefit

Data Thinking is an implementation-oriented approach and focuses on the benefits that can be gained for companies of various sizes and industries. In nine successive steps, it aims for unlocking new data-based business potential. "In order to successfully control the complexity of this process, a target picture and a process model are required that all stakeholders understand", so Olaf Erichsen, Managing Consultant with mm1. In order to do so, Data Thinking involves all relevant parties right from the start and aligns technical, financial, legal and organizational requirements.

Along with the nine steps, Data Thinking uses six tools which enable an iterative and agile development in Big Data projects. These tools include the Data Map used for structuring and classifying data sources as well as for identifying challenges and discussing possible problem areas across departments - such as data privacy protection. The Big Data Value Chain provides structure for all activities in data collection, data integration and data exploitation. "Data Thinking is designed in a way that it covers a wide range of scenarios and delivers measurable results along the process," says Dr. Michael Eble, Senior Consultant with mm1. "Our Data Thinking tools help in structuring both initial creative workshops as well as day to day project execution."

Download your copy of the poster "Data Thinking by mm1" for free at www.data-thinking.com.

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