For many organisations, it is still difficult to understand what Big Data is and how it should be incorporated into their business. This is quite understandable, as Big Data offers such radical and disruptive new possibilities as well as requires a dramatic cultural change for many organisations. The past weeks I have been thinking a lot about this and how this process could be … [Read more...] about 5 Easy Steps to Embed Big Data in Your Business
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 Increase Your ROI with Data-Driven Content
Most businesses know that content is a must-have in marketing. And not just any content. Good content. While creating compelling content takes times, the pay-offs can be huge. When you add data-driven insights into your content marketing strategy, the rewards are even bigger. Based on a 2015 Content Marketing Trends survey, check out these ways B2B and B2C marketers are using … [Read more...] about How to Increase Your ROI with Data-Driven Content
3 Ways Data-Driven Marketing Improves Your ROI
At the heart of good marketing is data. And when data drives your marketing, the average return on investment (ROI) is a whopping 224%! (VB Insight) VB Insight surveyed over 3,000 marketers and looked at tools used on over 3 million websites. Even small improvements have the potential to drive higher ROI. According to the research, if your business has a 4-phase customer … [Read more...] about 3 Ways Data-Driven Marketing Improves Your ROI
4 Tips to Whip Your Marketing Data into Shape
Did you know that 84% of marketing databases are barely functional? NetProspex analyzed hundreds of companies, thousands of files, and over 61 million records for their Annual Marketing Data Benchmark Report. The findings were an eye-opener: 64% of records did not include a phone number. Only 35% of emails were classified as functional. 88% of business records analyzed were … [Read more...] about 4 Tips to Whip Your Marketing Data into Shape
5 Steps to Winning in the Data Economy
2.5 quintillion bytes of data are created every day (source: IBM). In addition to legacy modes of data generation, new behaviours like social media posts, digital pictures and videos, activity tracker usage, and IoT sensor measurements have accelerated the pace of data generation. The astounding amount of data generated is hard to comprehend, let alone understand how to put to … [Read more...] about 5 Steps to Winning in the Data Economy
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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.
