Enterprise production applications, such as record, financial, and orchestration systems, provide the framework for a successful business. Specifically, on-premises business applications have a stellar track record of supporting companies at any transaction volume. There has been a shift in focus, however, and it seems that Oracle EBS running on Oracle's cloud with a real … [Read more...] about Oracle EBS Automation: Crucial Information
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.
Top FinTech Trends & Predictions for 2023 and Beyond
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Why Secure Data Erasure Is Critical For Data Center Decommissioning
Data centers have a finite life cycle. At some point they will need to be decommissioned, which can be challenging because data often resides in multiple locations. Data can also be lost as a result of malware or power outages. Data Center Decommissioning Checklist Since data center decommissioning projects can be complex and time-consuming, it is important to have a … [Read more...] about Why Secure Data Erasure Is Critical For Data Center Decommissioning
How to Ensure Digital Literacy Amongst Gen Alpha
We are heading to Web 3.0. It will prove to be the wildest benchmark in the technology and digital world to this date. As it seems full of hopes, the metaverse can be a wild dream, or a fad, for those who still have not adapted to digital technology or are basically digitally illiterate. While people who grew up in the internet era are predominantly ahead, for other … [Read more...] about How to Ensure Digital Literacy Amongst Gen Alpha
How Data Products Change the Game
Data products are all the rage these days. At times, there are trends that are more hype than reality. The trend toward data products is not one of them. This blog will discuss what data products are, why they are suddenly so ubiquitous, and how they might change the game for your business - both as a supplier and a purchaser of data products. The Name "Data Products" Isn't … [Read more...] about How Data Products Change the Game
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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.
