Introduction  

This webinar forms part of our ‘Breaking Down Barriers to Digital Transformation’ theme of events which explores and addresses a range of factors preventing or slowing down digital transformation such as people, processes, systems and data. For this event we asked our panellists to share their thoughts on the importance of having a clear data strategy and the right infrastructure in place to realise the benefits of technology, and to share their own approaches. The panel consisted of leading figures in data and technology at CBRE, LGIM and GPE, and from PropTechs, Re-Leased and Doorda, who support their clients in better understanding this topic and provide the data products and solutions required. 

Top tips for building the right data strategy and infrastructure… 

Share your data 

There needs to be more of an openness regarding sharing best practice, as the current culture of data protectiveness is only hindering progress.  

Get people involved in data 

Most people need a base-level understanding of data, so companies need to create personas dedicated to training pathways based on the team’s current level of understanding and their role. In order to get individuals and teams to engage, the benefits must be known from the offset. 

Be agile 

It’s important to create a culture of agility both in people and in data strategy as change will come, so being ready to deal with this is paramount. 

Ensure your leadership is driving the wider adoption of data 

This is fundamental. The wider adoption of data must come from the leadership to help customers and teams to fully embrace any changes, and data adoption needs to become integral to the business’s culture for it to be welcomed by everyone involved.  Additionally, it is essential that business strategy and data strategy are deeply intertwined. 

Decide on the data you will collect and how you will maintain accurate and high-quality data 

It’s important to sit down with the team, sketch out data silos and grasp what tech is being used and what exists to decide what data to collect. The key is to be purposeful with data collection and what its purpose is so that it aligns with the business model. In order to maintain accuracy and quality of data, designing a strategy that manages data in a flexible way is fundamental, as change is a constant.

Invest in the right talent

Having a bedrock of talent is very important, such as data scientists and engineers and upskilling the right people. 

Be purposeful and focus on what you want to achieve

One key piece of advice was to focus on what you want to achieve, rather than the data strategy itself.  

If you are a Gold member and want to find out what other invaluable pieces of advice were shared, or you simply couldn’t attend,  Gold members have access to the video recording!

And once again, a big thank you to Dan Hughes for moderating the discussion, and to Sam Caulton, Clifford McDowell, Charlie Batten, Jonathan Avery and James Pellatt.