I've written about and given much thought to ethics and its relationship to analytics and data science. I even worked with O'Reilly Media to compile a book on the topic in 2020. However, ethics remains a concern today; one reason is that people in our community are not being trained properly to ensure that everything about their analytics and data science processes is … [Read more...] about Teaching the Ethics of Analytics
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 Craft Great Software in 2022
Software development is on the rise across the globe, which should come as a surprise given the fact that companies are constantly investing in new software solutions. We live in a tech-driven world, and the software development market is expanding due to the ever-increasing need for new software products, services, and SaaS solutions. Whether you are leading a software … [Read more...] about How to Craft Great Software in 2022
Two Sides to Consider in Scaling the Impact of Analytics
When it comes to scaling analytics at a large organization, a lot of focus has been placed historically on successfully creating clean, consistent data that feeds well-defined, consistent analytical processes. This focus was necessary and valuable. However, as data governance continues to mature and data literacy comes evermore to the forefront, it is time to ensure that focus … [Read more...] about Two Sides to Consider in Scaling the Impact of Analytics
7 Examples of How Digital Transformation Makes Organisations More Efficient
Digital transformation can mean different things to different organisations. Some will be looking to move from manual working processes to more digitalisation and automation. Others are seeking new ways to differentiate their business and better meet the needs of users and customers. They may be aiming specifically to improve productivity, increase revenues or launch a new … [Read more...] about 7 Examples of How Digital Transformation Makes Organisations More Efficient
6 Important Things to Know About Smart Payment Solutions in 2022
As consumers, we are always looking for more efficient and effective ways to manage our spending, streamline the purchasing process, and keep our financial information safe. On the other hand, as business leaders, sellers, and service providers, we are always looking for ways to make payments easier for our customers, inspire trust and loyalty, and make buying a painless … [Read more...] about 6 Important Things to Know About Smart Payment Solutions in 2022
+
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.
