The below is a summary of my recent article on becoming the world's best futurist. Most leaders react to the future like it's weather-something that happens to them. That's why they get blindsided. But here's the truth: the future doesn't just happen; it's built-by those who see the signals early and act. Being recognized as the world's top futurist by Global Gurus isn't just a … [Read more...] about The Future Isn’t Waiting-So Why Are You?
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.
Top 7 ERP Implementation Challenges and ways to overcome them
Enterprise resource planning, or ERP, is a critical software solution that unifies core company operations into a centralized system, providing a single source of truth for all data across an organization. ERP systems seamlessly integrate all the information flowing through a company - manufacturing, financial and accounting, supply chain, human resources, and customer … [Read more...] about Top 7 ERP Implementation Challenges and ways to overcome them
The Complexities Of Computing Analytics ROI
Computing the ROI of any analytics, machine learning, or artificial intelligence (AI) process can be more complicated than expected ... and so can getting stakeholders to buy into the computations! There are cases when computing ROI is straight forward, but there are also many cases when it is not. Further complicating things is the fact that analytics processes are often … [Read more...] about The Complexities Of Computing Analytics ROI
The Second Half of the Chessboard: Thriving Amid Exponential Growth
The below is a summary of my recent article on exponential growth. We live in a world defined by exponential change, yet our brains are wired to think linearly. The story of a chessboard doubling grains of rice offers a striking analogy: early increments seem manageable, but by the time you reach the halfway point, the scale becomes unthinkable. This is the challenge of the … [Read more...] about The Second Half of the Chessboard: Thriving Amid Exponential Growth
The Importance of Data Quality in the Age of Digital Wallets
As digital wallets like Apple Pay and PayPal become increasingly popular, businesses are facing new challenges in managing accurate customer data. While these wallets provide convenience, they can also introduce errors in the stored data, such as outdated addresses or incorrect payment details, which can lead to missed deliveries or billing issues.What Is Data Quality?Data … [Read more...] about The Importance of Data Quality in the Age of Digital Wallets
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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.
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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.
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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.
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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.
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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.
