There is plenty of evidence pointing at data as a key ingredient of successful business. A recent study by Accenture shows that there is a correlation between being a high performer and becoming a data-driven enterprise. Another research project reveals that organizations that use data management tools are 58% more likely to surpass revenue targets than their less data-oriented … [Read more...] about How to Create an Effective Enterprise Data Strategy
Strategy
Learn everything about data strategy, what it should include in order to be successful, and how you can develop a data-driven business strategy for your business.
Tech Trends 2025: The Year Where AI, Trust, and Reality Collide
The below is a summary of my recent article on the ten technology trends for 2025. As 2025 approaches, we stand at the precipice of an era defined by breathtaking technological advancements and unprecedented societal disruption. It's no longer hyperbole to say the future is arriving faster than we can fully comprehend. AI, quantum computing, synthetic information, and … [Read more...] about Tech Trends 2025: The Year Where AI, Trust, and Reality Collide
Pedal Power: Lessons in Thriving Through Change
The below is a summary of my recent story about how to thrive in a changing world. What do cycling 14,000 km across Australia and navigating exponential change have in common? More than you'd think-both demand grit, adaptability, and a clear vision. In 2011, I embarked on a journey to cycle 14,122 km around Australia in 100 days, aiming to raise 25,000 for children's cancer … [Read more...] about Pedal Power: Lessons in Thriving Through Change
Choosing the Right System: A Comparison Between CRM for Insurance Agents and Agency Management Tools
When it comes to managing an insurance business, the tools you choose make all the difference. Insurance agents today are flooded with choices for software solutions. But with so many options, how do you pick the right one? Two of the most popular types are customer relationship management (CRM) systems and agency management systems (AMS). Both promise to streamline your … [Read more...] about Choosing the Right System: A Comparison Between CRM for Insurance Agents and Agency Management Tools
Harnessing Speculative Fiction for Strategic Innovation with Tobias Buckell
The below is a summary of my recent podcast episode on harnessing science fiction for strategic innovation. If your business strategy is grounded solely in reality, you're already behind. It's time to let science fiction steer your next move. In a thought-provoking episode of the Synthetic Minds podcast, speculative fiction author Tobias Buckell dives deep into the intersection … [Read more...] about Harnessing Speculative Fiction for Strategic Innovation with Tobias Buckell
+
What is data strategy?
Data strategy, also called analytics strategy or business data strategy, is the organizing principle for an enterprise’s investments in data and data-related technologies. Data strategy provides a framework for thinking through the complex trade-offs in managing data as an enterprise resource.
It helps business leaders make decisions about where to focus their data investments and how to maximize the value of those investments. Want to learn more about data strategy? Datafloq has courses available. Contact us to get started.
+
How does data strategy work?
Data strategy starts with a clear understanding of an organization’s business goals. From there, it defines the role that data will play in achieving those goals and outlines a plan for how to get the most value from data. Data strategy is an essential part of any organization’s overall data business strategy.
When done well, it can help organizations make better use of their data and gain a competitive edge. But when executed poorly, it can lead to wasted resources and missed opportunities. Data strategy is not a one-time exercise; it should be revisited regularly as an organization’s business goals and needs evolve.
+
What are the four big data strategies?
Big data can be a big help when it comes to making decisions for your business. But how do you make sense of all the data out there? One way is to use the four big data strategies:
- Performance management — Helps you track and improve your business’s performance.
- Data exploration — Helps you understand your data and find hidden patterns.
- Social analytics — Helps you analyze data to understand customer behavior.
- Decision science — Helps you use data to make better decisions.
These strategies can help you get the most out of your data and make better decisions for your business.
+
What should a data strategy include?
A data strategy should be designed to help an organization achieve its business goals. It should be aligned with the organization’s overall data business strategy to be effective, considering its unique needs, such as its size, industry, and geographic location.
The data strategy should also define the roles and responsibilities of those responsible for managing the data. Finally, the data strategy should identify the tools and technologies that will be used to collect, store, and analyze the data. By considering these factors, an organization can develop a data strategy to help it meet its business goals.
+
What is a big data strategy, and why should companies have the strategy in place?
Big data refers to a large number of data companies have access to. It can come from various sources, including social media, transaction records, and sensors. The challenge for companies is to make sense of this data and use it to improve their business.
A big data strategy helps companies to set goals and priorities for dealing with big data. It also helps them to invest in the right technologies and build the necessary expertise. Companies will struggle to get the most out of their data assets without a big data strategy. They will also be at a competitive disadvantage compared to those companies that have invested in big data.
