More and more organisations understand by now the need for a big data platform, but they have difficulties actually developing and implementing a big data strategy. John Akred, CTO of Silicon Valley Data Science, discusses how companies can become more data-driven companies and how they should develop a big data strategy. Nowadays, the problem is not so much anymore the … [Read more...] about Mining the Field of Big Data Strategies
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.
Why Sentiment Analytics Should Be A No-Brainer For Organisations
The number of citizens that are active on a social network continues to grow rapidly. At the moment there are more than 1 billion Facebook users, of which around 850 million are active on a monthly basis. There are more than 100 billion connections and each day gives us 2.7 billion new likes. Twitter has 500 million users and 180 million tweets are sent every day. Approximately … [Read more...] about Why Sentiment Analytics Should Be A No-Brainer For Organisations
Big Data For Decision Management Video
With big data you can improve the decision-making within your organisation. James Taylor from Decision Management Solutions talks about the future of decision management and how big data changes the way decisions are made. … [Read more...] about Big Data For Decision Management Video
What Are The Questions To Ask When Developing A Big Data Strategy?
A recent story on InformationWeek shows how two CEOs can view the same company so completely different. Both CEOs used big data analytics to help them in defining the right strategy for the company. The first CEO was fired after 17 months on the job and responsible for a 25% drop in revenue in one year. The second CEO took a different look on the same data and is now … [Read more...] about What Are The Questions To Ask When Developing A Big Data Strategy?
How Can Small Businesses Take Advantage Of Big Data Video
Big data is not only something for the large, multi-national, corporations in the world. Also small business can reap the benefits from big data. A small business has to look differently at big data, simply because less data is created. That does not mean however that small businesses cannot develop a big data strategy. Especially when small businesses start combining various … [Read more...] about How Can Small Businesses Take Advantage Of Big Data Video
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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.
