Continuing our two-part series, learning about Blockchain and relevant lessons learnt from attending #CityChain17 event. As mentioned in our first post, this event was organised by MBN Solutions and held at IBM's spacious SouthBank offices (which offer great views across the Thames on a sunny day). Following the morning sessions, covered in part one, our next speakers focussed … [Read more...] about Learning about Blockchain and Relevance to Analytics leaders (part 2)
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.
Agile Methodology, Not Only For Software Development
Agile became a hot trend these years. People used to associate Agile methodology with agile software development, but nowadays it is implemented in all departments and companies fight for the awards to be nominated as an Agile company or to be considered as a company that follows an agile process. And Apiumhub is not an exception. We use agile methodology to manage all our … [Read more...] about Agile Methodology, Not Only For Software Development
GDPR A Change in the Making
Organizations all over the EU must be aware by now that the Data Protection Act (DPA) will be changed into GDPR (General Data Protection Regulation). Some of these changes might cause some compliance issues but there's an easy way to avoid any problems, by raising awareness. The more your staff and employees know about GDPR, the less chances you have, of ever violating the … [Read more...] about GDPR A Change in the Making
Digital Transformation Starts with Customer Experience
I attended the interview with Nick Drake, Senior Vice President, Direct to Consumer at T-Mobile and Otto Rosenberger who serves as CMO at the Hostelworld Group at the Adobe Summit. The key take away of the entire session was that customer experience is the beginning and the core of digital transformations “ it is where it all begins. T-Mobile and Hostelworld are completely … [Read more...] about Digital Transformation Starts with Customer Experience
Effective Ways to Manage Your Reputation With Metrics and Data
Most people realize that reputation takes a long time to build but it can be tarnished overnight. Because of the speed with which those kinds of transitions happen, it's crucial for people and businesses to constantly practice reputation management. That can be done when people know what kinds of metrics relate to reputation and how to track them. Amplify the Positives and … [Read more...] about Effective Ways to Manage Your Reputation With Metrics and Data
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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.
