A data strategy is about maximising the value of data across an organisation, to drive business value.
Trusted data drives the notion of sound insights powering sound business decisions. The data strategy needs to be in alignment with the organisation’s business objectives.
A business strategy needs a data strategy to sustain its ongoing success. It needs a data strategy that ensures that the data, data management, control, ethics, analytical capabilities, tools, technologies, and organisational capabilities deliver the specific needs of the enterprise.
A data strategy is about maximising the value of data across an organisation, to drive business value.
In general, the data strategy supports the organisation in three key areas:
It supports a hierarchy of needs, that the organisation requires from its data.
A data strategy is dependent on a business strategy to provide:
Simply put, without a business vision, without business objectives, without a business strategy – a data strategy is meaningless.
If your data isn’t working for you, The Data Practice can help. Get in touch – we'd love to talk.
Tony Cassin-Scott is the Strategy Director at The Data Practice. He has worked across several industries including media, healthcare, and insurance. He has held senior roles in technology, commercial publishing, and data, focusing on strategy and product development and launch.
Photo credit: Tim Hartelt
