How to get my data under control
Data is the oil of the twentieth century, the raw material for new technologies that is revolutionising business processes and new digital products – and the finance function is no exception. Data is redefining the role of CFOs: they are becoming strategic advisers, sparring partners, inventors and catalysts of innovation and growth at corporate level. They are responsible for business-critical data that can be analysed instantaneously, allowing extensive forecasts and simulations which open up huge opportunities for the finance function of the future.
All of this needs to be based on an effective and efficient data management system. Today, all relevant information has to be made available in every process step at the right time, in the right place and at the required level of quality. How the data is handled is crucial for success. Innovation through new technologies requires new and improved data, better organized data, data with fast access and data of excellent quality.
The PwC Data Excellence Framework is the blueprint on the way to the new data-driven finance function of the future:
In addition to the fundamental challenges to robust data management, there are also significant barriers to innovation that need to be overcome to enable further development of data management. Our Data Excellence Framework addresses this combination head-on, helping to build a data management system fit for the future.
Data management – a holistic approach
We at PwC can help you overcome these hurdles by pursuing holistic, structured approaches and solutions while also taking your individual requirements into account. Under our approach, data management covers all processes from generation and validation to protecting and processing your data, to ensure accessibility, reliability and timeliness.
Data management framework
- Data strategy
- Data architecture
- Data governance
- Data process management
- Data quality
- Data security and privacy
Data strategy
Data strategy defines the vision and roadmap for data management transformation to increase corporate value and act as the engine for business strategy across the dimensions of people, processes, technology and culture.
Your data strategy needs to be aligned with your business strategy – which defines your priorities for data management – whilst also reflecting the relevant (mega) trends, innovations and technological developments that are creating new data potential.The orientation and goals of the data strategy are defined by means of assessments and expert interviews. Once the key data-driven accelerators and challenges have been identified for driving your strategy forwards, the design phase can start: strategic vision, interim goals and action plans are defined for the components of your data management system based on the dimensions of people, processes, technology and culture. A roadmap is then prepared for operationalising these aims based on capacity, resources and forthcoming initiatives. KPIs that allow strategy adoption to be measured and incentivised are then created to ensure long-term sustainability.
Your benefits:
- Targeted and coordinated methodology for executing a successful data management transformation
- Transparency on the value contribution of your data management initiatives
- Operationalisation and consistency of strategic measures, along with measurable KPIs on strategy adoption for long-term sustainability
“Data & analytics are becoming increasingly important. The key success factor today is effective data management. Harmonizing and presenting a wide variety of data sources in an end-to-end process will be the decisive difference that makes successful companies.”
Data Management
To successfully manage a business, data must be reliable, accessible and up-to-date. As the amount of data grows exponentially, it becomes increasingly difficult for companies to ensure that this is the case. Data is held in different systems, but also on local databases of individual employees and is hard to combine with each other.
PwC can support companies in creating a professional concept for future-proof data management. We not only define process-related measures, but also work together to develop an optimized target architecture that not only connects the different data sources, but also enables users to access the information and perform analyses independently.
As many manual processes are automated, you will gain data quality and save time that can then be used for more in-depth analysis. Make decisions based on data-driven insights!
Data Warehousing with SAP
Do you need a reliable data source from which you can extract data in real time and make it available for your reports with a high performance?
We can help you to establish an SAP data warehousing solution of to optimize your existing solution. From initialization of your systems to the implementation of data models, we support you from strategy to implementation.
In the area of SAP BW as well as in advanced HANA Data Modelling, a team of experts with years of experience will work with you to find the best solution for your business. Together with subject matter experts from our PwC network, we can develop and implement customized data model concepts for any industry.
If you already have an SAP BW system that has become outdated, we can discuss the various migration paths to the current releases with you and work together in order to achieve the best possible solution.
Additionally, we offer training courses for your employees, which we can tailor to your individual needs. From basic training up to SAP BW/4HANA update training, we offer on-site as well as online training, but we also accompany your employees directly and train them in their normal workday.
Data Virtualization
Data volumes are exponentially increasing. One reason for this is the increasing number of source systems and the simultaneously increasing granularity of the data. Sensor data, social media information, weather data, geodata, but also the classic information from the different systems of a company should be evaluated together and presented in reports.
With the possibility of data virtualization, this is no longer a matter of concern. Data can be combined and reported without being physically stored a second time. A data virtualization layer that can be seamlessly integrated into your IT architecture, combines all data sources and provides the single point of truth for your reports.
The advantage of many data virtualization tools is that they are also designed for the business department. Employees can thus request and use harmonized information in self-service. In addition, the centrally managed data in the virtualization layer can be enriched and extended with individual, local information (e.g. from Excel/CSV files).
