How to sum up the Data Race Networking Meeting 2023? An exchange of Data-Driven Organization experiences among successful professionals in a very special location, Museo Ferrari di Maranello, which itself tells a story of change and progress? Or a wonderful day spent with our clients and many other data leaders? The meeting organized by Irion gathered 20 CIOs and CDOs for intense discussions on the business challenges. Moreover, the participants could have a personal F1 pit-stop experience and try out the famous single-seater driving simulator. From the 1960s onwards, pit stops have been crucial to improving race time. As the teams were able to interpret the data provided by the ever-improving technologies, they managed to go from the 67 seconds once necessary for a stop in the box to the present-day 2 seconds.

Data Driven Journey: change or run?

Just like in racing, the journey toward a Data-Driven Organization consists of stages. And at the foundation of the corporate data-driven strategy lie use cases. As the use cases become more numerous, data assets will also increase. Making them available to colleagues helps resolve business challenges without wasting time and resources. Data managers invited to Maranello know the dilemma well: more innovation or more efficiency? With the resources available, what would I prefer: greater customization or standardization? These are frequently asked questions among those who work with data. On the one hand, innovation and change are necessary; on the other hand, it is necessary to govern, be efficient, reduce costs. Having standard processes is not always compatible with the aim of making them innovative.

We associate the concept of change with such words as agility, innovation, openness, differentiation, customization, flexibility, and timeliness. On the other hand, the concept of governance usually comes along with different shades of such terms as efficiency, standardization, automation, predictability (traceability, repeatability, observability), certainty of the result, and security. That is why Irion EDM®, the platform that finds the balance for these two worlds, has the necessary answers to a whole variety of questions, from basic data management needs (Foundation) to more advanced capabilities (Premium).

Data and people: a question of balance

Their stories are different, but technology is their meeting point: Ferrari has improved over time thanks to data, while the Irion EDM® platform has constantly been evolving since 2004 to ensure the balance between technology and human performance with its revolutionary declarative paradigm. Data becomes information and, finally, knowledge when people, whether it comes to F1 or software, work efficiently, securely, and in a well-organized way.

In the office or on the track, a team wins by the balanced use of both data and communication, verbal and non-verbal. Italian excellence – whatever the field of competition – wins by investing in research and development, continuous innovation, and placing the people at the center. Ferrari and Irion invest in the local area, grow despite the pandemic (in Maranello, by acquiring the neighboring land for expanding the electric division), and give maximum attention to their employees, including a wide range of welfare programs.