Earlier we discussed that big data should be a Strategy matter instead of an IT matter. Lets dive a bit deeper into the reasoning behind this and find out who within the organisation should be the sponsor for a big data strategy. Quite often, big data is seen as an IT matter as mentioned earlier, after all you need hardware and software to implement a big data strategy. The … [Read more...] about Finding The Right Sponsor For Your Big Data Project Is Vital
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.
Knowing what big data is, is one; knowing what a big data strategy is two; knowing how to implement that big data strategy is even more difficult. At least, that is how a lot of organisations perceive it. And it must be said, in large process-directed organisations, what most of the large corporates are, it can be difficult. Convincing the board and defining were to start could … [Read more...] about The Big Data Roadmap to a Winning Big Data Strategy
I strongly believe that companies with a successful Big Data strategy have an information-centric culture where all employees are fully aware of the possibilities of well-analyzed and visualized information. Better data visualization can help you make better decisions As a matter of fact, Gartners top predictions for 2012 and beyond included this prediction about Big Data: … [Read more...] about The Big Data Solution Approach – for Enterprises
Data pours into organisations from almost every angle imaginable. Small and Medium Sized Enterprises can easily collect gigabytes of data per day, startups can effortlessly reach terabytes of data per day and online organisations can even generate petabytes of data per day without any problem. However, simply having massive amounts of data is not enough to become an … [Read more...] about Five Key Characteristics Of Companies Using Big Data
Back in October 2011, Neelie Kroes VP of the European Commission, announced legal proposals to unlock the data held by the Europes public institutions. According to Kroes, opening up these datasets could double the value of it to around 70 billion. The open data portal is all about transparency, open government and innovation. All available data can be re-used, linked, analysed … [Read more...] about How To Use Public Data To Drive Innovation
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.