Ask any sports executive, and they'll tell you that the biggest and most important shift in recent years is from using gut instinct to data for making important decisions. With so much information flowing around during the current digital age, you need to use this approach when it comes to your marketing strategy. Marketers in every industry and sector are using analytics and … [Read more...] about How to Use Big Data to Perfect a Marketing Plan
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.
Don’t Send Money to Dead People (and Other Lessons for Data Teams)
In June 2020, it was reported that bad data hampered the U.S. government's ability to roll out its COVID-19 economic recovery programs. In addition to other grievous errors, this data downtime incident sent over $1.4 billion in COVID-19 stimulus checks to dead people. In part one of a two-part series, I propose a solution to data downtime: data reliability, a concept borrowed … [Read more...] about Don’t Send Money to Dead People (and Other Lessons for Data Teams)
What is Data Observability?
Observability is no longer just for software engineering. With the rise of data downtime and the increasing complexity of the data stack, observability has emerged as a critical concern for data teams, too. Developer Operations (lovingly referred to as DevOps) teams have become an integral component of most engineering organizations. DevOps teams remove silos between software … [Read more...] about What is Data Observability?
Data Quality You’re Measuring It Wrong
This article was first posted on Towards Data Science. One of our customers recently posed this question: I would like to set up an OKR for ourselves [the data team] around data availability. I'd like to establish a single KPI that would summarize availability, freshness, quality. What's the best way to do this? I can't tell you how much joy this request brought me. As … [Read more...] about Data Quality You’re Measuring It Wrong
The Next Normal For The Ever-Changing Digital Workplace
The world has seen a huge amount of disruption over the last six months. The Covid-19 pandemic has swept across the globe at a rate that took many companies by surprise, in just how disruptive it has been to the workplace. With governments, companies and citizens alike underestimating the impact that this particular strand of coronavirus would have, it is fair to say that the … [Read more...] about The Next Normal For The Ever-Changing Digital Workplace
+
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.
