In today's digital age where customers are as likely to buy a product from an eCommerce website as from a brick and mortar store, delivering a seamless and value-adding shopping experience has become more important than ever before. The multiple shopping channels available to customers and the competition posed by other retailers have made it an absolute necessity for a retail … [Read more...] about How to Become an Omni-Channel Data-Driven Retailer
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.
How to Navigate a Digital Transformation
Perhaps you have heard the phrase digital transformation . What does it really mean to digitally transform your business? Transformation is a thorough or dramatic change, like a sports car changing to a robot. Digital represents software and data leveraging computing, networking, and data storage technology. Combined together, digital transformation, in the context of … [Read more...] about How to Navigate a Digital Transformation
Collaboration in the Era of Big Data; How Empowerment Will Drive Change
As discussed in the 7 Big Data Trends for 2017, organisations need to apply big data analytics to make sense of their organisation and their environment. The impact big data analytics will have on your organisation depends on which type of business analytics is applied within the business. There are four types of analytics, ranging from descriptive and diagnostic analytics to … [Read more...] about Collaboration in the Era of Big Data; How Empowerment Will Drive Change
5 Ways Big data Analytics Can Help Your eCommerce Business
The words Big data' are thrown around a lot these days, but there is no definition that is universally accepted. The best definition of Big data comes from analyst Doug Laney, who said in 2001 that Big data is defined by The 3Vs' “ including velocity, variety and volume. This means that Big data is a large amount of content that is varied and being produced quickly. Here are … [Read more...] about 5 Ways Big data Analytics Can Help Your eCommerce Business
Achieving Success With Your Big Data Initiatives – A Vendors Perspective
Big data analytics offers revolutionary capabilities but achieving results requires a strategic vision ”and a view into how it can create business value. Over the last few years, the term "big data" has evolved from a vague concept into a mainstream business strategy. But somewhere at the intersection of conceptual promise and real-world implementation, many business leaders, … [Read more...] about Achieving Success With Your Big Data Initiatives – A Vendors Perspective
+
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.
