July 1, 2022

# France2030: data culture, an essential component of new business strategies and their competitiveness

OPINION | # France2030: data culture, an essential component of new business strategies and their competitiveness.
Op-ed by Jean-Baptiste Mérel, Director of Offerings at Report One

The 30 billion euro investment plan announced by President Macron is as much an opportunity as it is considerable challenge for companies that will need to manage this investment and plan for the future with this new fund. And all the more so at the end of the year which is synonymous for companies with activity reports and budget projections. Added to this are the 2022 forecasts of the OECD (cf. OECD Economic Outlook report, Interim Report, September 2021): 2021 is indeed a year of recovery, albeit uneven, in global economic activity.

It is therefore not the end of an uncertain time but rather the beginning of an era placed under the sign of duality which is opening up for companies: economic stoppages and growth, revivals and projections with a forced taking into account. consequences of the Covid and potential new hazards that could upset their annual forecasts … It is to this double instability that the culture of data in business intends to respond: to project itself into a volatile global economy while piloting new financial contributions.

Take stock of 2021 and establish new objectives for 2022: how to plan when, as we have seen, everything can change overnight?

For a long time, business leaders have recognized the importance of strategic preparation and the definition of quantitative objectives upstream. But these two years of health crisis have raised new questions: how to organize your business over the long term and be able to restructure everything in the short term?

In this complex climate, the definition of annual strategic forecasts does not run counter to the ability of companies to bounce back: by setting a goal, they can, thanks to the daily management of their activities, adapt their operations. The rituals of the last quarter in business are preserved but reworked. We are therefore witnessing a strong transformation of the business model of companies: adaptation of daily operations to “long-term” ambitions, integration of the importance of risk management in financial strategies, etc. A transformation echoing the integration into the organization of companies of a new discipline: foresight. Think long-term, envision possible futures, lead reflections to anticipate them. The goal? More agile, proactive, flexible thinking and a more competitive business.

Data culture: support for new definitions of business strategies

To achieve this objective, the culture of data becomes an essential axis of transformation for companies aware of the need to develop their economic models.

In addition to making sense of data, it allows all of the organization’s stakeholders to implement good practices: it is a tool shared by all teams that develops the culture of data in all layers of the business. It commits to collective investment, the decompartmentalization of trades and the flow of information. Results: a open communication and more precise measurement of process efficiency.

These benefits, from which all levels of the company benefit, require the implementation of technological instruments and innovations. Interpreting weak signals in advance, highlighting trends: data becomes the performance measurement tool, essential for risk assessment. It does not require expensive tools or a full-time service. Having a simple data analysis system adapted to the contexts of the company makes it possible to multiply action plans and preventive measures upstream. The benefits are better daily organization of employees and time savings that create added value for the company.

The volatility of the economy accentuated by the crisis in Covid reminded companies of the importance of working on their adaptability in the future. Long-term projection is vital to the functioning of organizations, but their strategy is carried out in a new economic context. This new model calls for exploring the power of data mastery, a driving force behind this century’s economic growth. To respond to the recovery and manage the aid announced by the Head of State as effectively as possible, companies must rethink their mode of operation. After months of health crisis, wouldn’t the worst be to go back to old habits as if nothing had happened?

Op-ed by Jean-Baptiste Mérel, Director of Offerings at Report One

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