If there is one thing that 2020 taught us, forecasting which trends would define the next year remains a challenge. Very few would have believed me if I had written that by mid-2020, the majority of organisations would work from home. Nevertheless, several of the trends I predicted last year, in what I called the Year of Convergence, appeared to be correct. First of all, 5G did … [Read more...] about The Top Five Strategic Technology Trends for 2021 The Year of Digitalism
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.
Struggling With Data Literacy? That’s Great News!
Less than two years ago, data literacy was not something I heard many people in the business world talking about. Recently, it is something that comes up in more conversations than not. In this post, I'll address a few misconceptions about data literacy and then make the case that while it is a challenge, data literacy is actually a great problem to have. Data Literacy Is About … [Read more...] about Struggling With Data Literacy? That’s Great News!
How to Use AI to Enhance the Performance of Your Social Media Strategy
Since the introduction of artificial intelligence, marketing has witnessed new dawn of efficiency. Based on data collection and analysis, automated decisions have had a great impact on improving the speed of marketing efforts and independent customer communication. Social media platforms have come a long way from fairly straightforward concepts. Fortunately, in its progress, AI … [Read more...] about How to Use AI to Enhance the Performance of Your Social Media Strategy
6 Ways to Effectively Increase Your Conversion Rate with Chatbots
6 Ways to Effectively Increase Your Conversion Rate with Chatbots It goes without saying that the internet has drastically transformed our buying pattern. Today, we shop, watch, communicate, relax, and learn things online. It has also massively contributed to the growth of online businesses. But the irony is that most online businesses struggle to retain their visitors, let … [Read more...] about 6 Ways to Effectively Increase Your Conversion Rate with Chatbots
Digital Marketing Trends: How COVID19 Shifted The Marketing Graphs
Introduction Ever since COVID-19 has hit the countries, several businesses have witnessed a downfall. With so many shops and stores shutting down, saving the businesses from the economic crisis seems daunting, isn't it? With 31.6M cases worldwide (currently), this pandemic has made us shift from our usual lifestyles. Every day we hear about a new prediction on COVID-19, but the … [Read more...] about Digital Marketing Trends: How COVID19 Shifted The Marketing Graphs
+
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.
