Data strategy is the process of determining how data will be used in an organization and what it will be used for.
It’s a process that has become more important over time because it helps to define the company’s goals and objectives. It also helps to inform senior management about how to execute on those goals and objectives.
The data strategy can take many forms, but generally it includes the following:
– What data should be collected?
– How should data be collected?
– How often should data collection occur?
– Who has access to this data?
– What are the costs associated with collecting this data?
Data maturity Data is the new oil. All businesses, big or small, need to understand and adopt a data-driven approach in order to stay competitive. Data maturity is the concept of how mature an organization’s data strategy and data culture are. It is measured through a set of questions that Read more…
Developing a data strategy according to your business needs is crucial for long-term success. The pragmatic data strategy has shown positive results and taken businesses to the next level. It focuses on reducing the risk of data misuse, creating more reliable data foundations, and enabling new ideas. Here are five Read more…
The amount of data generated by businesses has exploded in recent years. Many opportunities await companies to improve innovation, customer satisfaction, and operations with the help of data analytics. A shift toward a data-driven culture in your organization will help you make better strategic decisions and achieve your business goals. Read more…
Data maturity is a term that is used to describe the process of understanding how to use data to make decisions. Data maturity is not a one-time event. It’s an ongoing process that requires continuous investment and learning in order to achieve the highest level of data maturity. The data Read more…
There are two main concerns for any business that want to maximise the value it extracts from its data: Being GDPR compliant Creating the right data strategy (using Data Protection by Design and by Default to build GDPR compliance into your data strategy) The first point can raise legal concerns Read more…
Data strategy is the process of planning, collecting, analyzing and using data in order to achieve business goals. Without data strategy businesses will struggle in understanding their customers needs. Data analysis can help in understanding where the company can improve customer experience. Data collection helps in measuring the impact of a Read more…
Data science can transform the world by helping in many different ways, which we have repeatedly covered on this blog. Unfortunately due to lack of funding the third world sector is often left behind, resulting in missed opportunities for growth, development and economic wealth. The Tesseract Academy are delighted to Read more…
In a world that is driven by data and digital transformation it is absolutely vital that businesses have the right infrastructure, data strategy and solution set up early-on. This is where data architecture comes into play. What is Data Architecture? Data Architecture is a significant component required to gather and Read more…
Recently, I had the great opportunity to partake in the London Market Forums (LMF): New World Series 2.0, a yearly event where thousands of insurance professionals came together in the UK to discuss, debate and collaborate on topics of mutual interest in the community. The finance and insurance sector Read more…
Data strategy is one of the most important parts of any data science project. Unfortunately, it is not very recognised. This is why I have repeatedly written about this topic on this blog: The Data Strategy Canvas DS10 questionnaire for data strategy Data strategy: offense vs defense Most data science/AI Read more…
You must be logged in to post a comment.