I recently sat down with Bob Rogers. Bob is Intel's Chief Data Scientist for Analytics and AI. I sought out answers to the some of the most popular questions related to artificial and augmented intelligence. The entire interview was illuminating, and shed some light on aspects that many people wouldn't know about. (Sponsored by Intel) So what is AI? Artificial intelligence is … [Read more...] about Artificial or Augmented Intelligence: Talks with Intel’s Chief Data Scientist, Bob Rogers
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.
In brief: What is Data Monetization?
In almost all that we do these days data is being generated and collected. Organizations are gathering vast amounts of data; from internal billing and payment systems, customer service reports, marketing analytics, and product and services usage to media-generated information about the company, customers and its competitors. All of this data is required for businesses to run. … [Read more...] about In brief: What is Data Monetization?
AI The Present in the Making
I attended the Huawei European Innovation Day recently, and was enthralled by how the new technology is giving rise to industrial revolutions. These revolutions are what will eventually unlock the development potential around the world. It is important to leverage the emerging technologies, since they are the resources which will lead us to innovation and progress. Huawei is … [Read more...] about AI The Present in the Making
Location Data in the Financial Services Industry
Facing increased regulation and disruption from new technology, banks and financial institutions who want to maintain their competitive edge need to leverage on mobility data. Perhaps the biggest challenge facing the financial services industry today is the constantly changing expectations of consumers. With customer service standards set by tech giants like Apple and Amazon, … [Read more...] about Location Data in the Financial Services Industry
Agile Transformation; Steps, Statistics & Case Study
Many companies are stuck in old ways of operating, and that negatively affect an organization's speed and adaptability to change. Nowadays, to be competitive in the digital age, businesses need to achieve agility.But many leading companies struggle to be efficient, and data-driven, which then makes them less productive. Agile transformation isn't just about technology. It's … [Read more...] about Agile Transformation; Steps, Statistics & Case Study
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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.
