For any organization to be successful, there are many factors need to be emphasized. Considering the fact that data forms the most critical aspect of any task to accomplish, having the right data strategy in place always helps. Analytics Insight brought this interesting topic to our attention in their article, “How to Build a Concrete Data Strategy for Your Organization?”
But how do you start to build a comprehensive data strategy? Start with goals – well defined goals – and don’t limit your projections to the immediate.
Next is data, but before moving straight into data and trying to extract the best possible meaning out of it, try to understand the objectives of the business.
After having a clear picture of what is the organization aiming for, it is now time to identify ideal data for the defined objectives. It may be data you have access to or data that is beyond your organization.
Storage and governance comes next. It turns out that how analytical models and outputs would be governed to ensure they are free of bias, inaccuracies and bad decision making are just as important as the data itself.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.