No sales team would pass up an opportunity to improve its overall productivity and profitability. Most also realize that big data and analytics are game changers. The question isnt whether to harness the power of big data and analytics. Its deciding what provides the most value to individual salespeople and the entire organization. While the majority of today's organizations … [Read more...] about From Buzz to Brass Tacks: Data-backed Strategies to Improve Sales Performance
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.
The Google Analytics Data You Need for a Dynamite Content Strategy
Healthy and sick patients alike turn to lab tests to measure exactly whats going on inside their bodies. Similarly, both successful and struggling companies can use data (the marketing equivalent of a lab test) to measure which of their content pieces bring the greatest health to the company. Data has weighed heavily on the minds of marketers over the past year. Informatica … [Read more...] about The Google Analytics Data You Need for a Dynamite Content Strategy
How B2B Ecosystems & (Big) Data Can Transform Sales and Marketing Practices
Managing your relationships with customers, suppliers, and partners and constantly improving their experience is a proven way to build a sustainable and profitable business, and contrary to popular assumption, this doesnt apply to B2C businesses only. With 89% of B2B research studies using the internet during the internet research process, improved collaboration to deepen … [Read more...] about How B2B Ecosystems & (Big) Data Can Transform Sales and Marketing Practices
Why Big Data Desperately Needs Transparency
People have an innate suspicion of numbers. We understand that the answer to life, the universe, and everything is too complex to be boiled down to the number 42 (according to Hitchhikers Guide to the Galaxy), but in the search to quantify our existence, we do allow our lives to be ruled by numbers. We count the calories in our food, we count the minutes on our daily commute, … [Read more...] about Why Big Data Desperately Needs Transparency
The 8 Actors a Data Scientist Must Meet
If you are on the verge of joining the Analytics industry, your vision of an ideal day in a life of a practitioner could be someone who effortlessly dives into data to create that perfect beer-and-nappy Eureka insight moment (technically termed as market basket analysis) which shows the unlikely insight that beer and diapers get bought together during game nights; a solution … [Read more...] about The 8 Actors a Data Scientist Must Meet
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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.
