In the business world, this is a recurring question: how much is the knowledge acquired by you and your company worth? The most impulsive response might be “it’s priceless” or “it’s worth what the business is worth on the market”, because information, in the digital economy, is the business in itself. But as organizational expert Geoffrey Moore says, “Without big data analysis, companies are blind and deaf, roam the web like deer on a highway“. And that’s because the value is not in the data itself – oil is only useful if it’s refined – but in the technological ability to turn it into conclusions and, therefore, in the orientation towards this management model.
Journey into data culture
Prosegur is a prime example. Three years ago, the company created a data governance space as one of the cornerstones of its digital transformation. Today, it’s a much more data-centric and data-driven company. That is to say that most of its important decisions are data-driven and that it has a comprehensive domain of data governance and analytics which started with two professionals and now has more than 25 in Spain, Argentina and Brazil. “We are seen as a benchmark with a complete results orientation, taking a practical and realistic approach and focusing on the business and support areas we serve. Whoever does the best job of interpreting, management and use of data will lead the market”, explains Francisco Torres.
Torres is not only the CDO (Chief Data Officer) of Prosegur, he is the number one in 2021 in Spain and Latin America chosen by the Club CDO Spain & Latam. Nominally, it’s a personal distinction, but it is essentially collective, awarded for the management of the entire company.
Its structure is global in two respects, because it serves all of the group’s businesses and countries, and because it encompasses the entire data function developed over four units:
Governance and data management. Structures the organization’s master data (customers, employees, suppliers and assets), unifies the sources and standardizes the information so that the whole company speaks the same language. “Data quality, integrity, and consistency are the glue for building effective and scalable solutions,” says Torres.
Data analysis and business intelligence. Drives information analysis through reports, dashboards, graphical and geospatial insights, and with self-service templates that democratize the use of data across the organization. She designs and implements analytical and predictive models to optimize processes and collaborate in the creation of new products and services.
Data Solutions and System Information. Custodian of the information and analysis platform that integrates data and tools for users for consultation, processing and exploitation. Its migration to the Cloud allows greater autonomy of use and availability of information in real time.
Services and data management. Promotes the company’s major internal data initiatives, starting with its own digital transformation plan and any global initiatives requiring a particular commitment.
The structure of the Data Governance & Analytics Space reflects its mission: to promote projects in the five business lines and other areas, from finance and innovation to administration and human resources. If it is an activity that generates data, it is an activity that the territory can optimize, make more efficientadaptable to new technologies, scalable across the organization, with fewer errors and comprehensive knowledge of itself and its users.
“We are more of a service area than just a support or control area,” explains Torres, “we add value to businesses and platform users, whether it’s a commercial user , a manager, custodian or senior executive, and this function as a service brings a direct benefit to our customers”. According to our CDO, data governance is particularly strategic in a multinational security company, “not only for the purpose of generating revenue or optimizing costs, but as a guarantee in the same way as other areas of processing and use of data, from an ethical point of view and in accordance with the values of the company”.
The list of improvements reflects his crucial role in Prosegur’s digital transformation. For example, logistical optimization in the transport of cashbusiness analysis, usage patterns the development of artificial intelligence models and algorithmsstandardization of massive data migration, management and analytical control of human resources, financial follow-up… In short, periodic reports which make it possible to anticipate market developments and which provide customers with information on their activity that they were unaware of.
So what to do now? We must maintain the pace and direction of important transformations in order to continue to democratize the use of data, to make the analytical platform even more accessible to any user so that the solutions can be used autonomously and, above all to offer ever more data-based services to our customers. In short, extend the culture of data to naturally express its (increasing) value. To make it an asset and a competitive advantage.