In 2020, The Data Lab launched its newest client support offering, TORCH. The service aims to get data projects off the ground by translating strategy into practical actions. Often, identifying the right approach to adopt is one of the main challenges faced by businesses when starting on their data-driven journey.
Already, the business advisory service has begun to work with organisations eager to start their data projects and take their business strategy forward. To date, each organisation that has contacted TORCH for support has had their own unique challenges and needs. Here, we outline some of the main struggles and scenarios businesses are facing, and how TORCH aims to offer a solution …
You have a vision, but you are not a data specialist. In the early stages of your project, you engaged with people who were really keen to support, however, now all the different information and advice is quickly beginning to grow arms and legs. At this stage, things can feel like they are snowballing; you’re moving away from your true business goal and the initial ideas for your first product offering.
You have built your data strategy, you have the budget, but you just don’t know how best to implement those first steps. What you are looking for is some simple advice and support so that you’re able to drive forward. In this scenario, TORCH can help you understand what steps are absolutely critical first and then what can be built on. The service is there to provide a trusted guide as you move through your data journey.
Product reinforcement – Validating your data plans
You’re incredibly data savvy and have been tasked with introducing new growth initiatives to your organisation. However, there’s resistance because they’ve never tried it before.
Introducing an external expert with a strong reputation, such as The Data Lab, can support and validate your ideas. You are looking for back up to confirm what you’re proposing will be successful and generate a positive return. In this instance, the TORCH service team can be used to assess your strategy and objectives, ensuring you’ve thought of every potential requirement, opportunity, and risk.
Those in this stage have also been keen to use TORCH as a catalyst to introduce stakeholders to the Leadership Learning side of The Data Lab. They are eager to increase business confidence in their data decision making and encourage more conversation within this field.
Supply chain problems – Attempts to achieve data strategy goals have been unsuccessful
You’ve attempted data projects before and they have failed. This could have been for a number of reasons; the strategy was missing elements needed to take a project through to the outcome you expected? Perhaps you engaged with a supplier who (in hindsight) didn’t have the right experience and, instead, tailored their services to fit your brief. Whatever the reason, once your fingers have been burned, these set-backs make it difficult to get following projects off the ground.
For many businesses, fruitless attempts can result in a loss of confidence. Organisations running on a budget or Scottish enterprise grant put trust in a service provider. If they didn’t achieve the set goals or deliver the returns expected, spending money on this service often leaves them feeling defeated and hesitant. Options are now limited; you can’t simply go back and ask for more, and if you haven’t achieved the outcome you wanted, where do you go from there?
Resistance to change can often be a hurdle when introducing new ways of reporting and consuming data. This is only amplified when your project fails to delivers the results you anticipated, and for each time this happens, these resistant voices only get louder. TORCH looks to reinstall confidence by highlighting blind-spots, consider potential hurdles, present solutions and minimise future project risks.
Data skills support
You’re a tech-based business who specialises in a specific area and are looking for support on an innovative project.
You might already have the majority of the technical and business knowhow, but need help with specific aspects of the overall solution and implementation process. For organisations such as this, the TORCH service can be used to help oversee the execution of the project, providing friendly advice and supporting in a successful launch.
If the project goals are achieved, it may lead to you becoming a TORCH supplier and expanding your services.
Want to learn more about how our Data Lab experts and specialist supplier organisations can help transform your data strategy into practical actions? We encourage you to get in touch with our team to discuss your individual projects and requirements.
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