Everyone is familiar with the age-old adage that if you must explain a joke after you tell it, then the joke will be a flop. The same principle is true when you put data in front of a live audience, whether with a table, a graph, or a chart. This blog will clarify what seems at-first an unlikely comedic connection. The Link Between Comedy And Analytics No matter how funny a … [Read more...] about Charts And Graphs Are Like Jokes
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.
The Big Promise AI Holds for Mental Health
The future is already here “ it's just not very evenly distributed, • William Gibson. Artificial intelligence is creeping into mental healthcare. How does it make you feel to hear that? is the question that you might be already discussing with an AI bot. Even more, your AI therapist might be quite successful at helping you overcome any feelings of worry about a direction our … [Read more...] about The Big Promise AI Holds for Mental Health
A Detailed Guide to Using Entity Resolution Tools for Enterprise Projects
Dirty, unstructured structured data, dozen-plus name variations, and inconsistent field definitions across disparate sources. This can of worms is an almost staple occupational hazard for any data analyst working on a project involving thousands of records. And the implications are anything but ordinary: Global financial institutions were fined $5.6 billion in penalties from … [Read more...] about A Detailed Guide to Using Entity Resolution Tools for Enterprise Projects
5 Best Test Management Tools for Jira
Every testing company requires a solid test management strategy if its goal is to release a flawless product. Most are opting for Jira test management tools to help organize tasks. This article hopes to sway you in a similar direction if you weren't already using Jira. Jira for Test Management Businesses that use Jira for managing the wants and tasks within their project … [Read more...] about 5 Best Test Management Tools for Jira
Retail Technology Trends: 13 Use Cases to Help Stores Reopen Safely and Sustain Revenue
The impact the pandemic has had on brick-and-mortar retail is detrimental. In the US, 12,000 stores had to shut their doors. And those left to wonder: What do we do to sustain our businesses? Below, we look at retail technology trends that can help brick-and-mortar stores survive the pandemic, reopen safely, and lure customers back. Â 2020 wasn't easy on retailers. Although … [Read more...] about Retail Technology Trends: 13 Use Cases to Help Stores Reopen Safely and Sustain Revenue
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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.
