With the Coronavirus outbreak has come increased global business and economic disruption and uncertainty. Analysis indicates that the COVID-19 outbreak will push down the full-year gross domestic product (GDP) globally from the 2.5% that was forecast in January 2020 to 0%. In this crisis management situation, companies are grappling with managing the impact of the outbreak on … [Read more...] about Garner the right technology platform for Crisis Management
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.
Unbelievable impact of COVID-19 on IT outsourcing!
IT Outsourcing is one of the most flourishing fields in the world. IT outsourcing is nothing new, but it is continuously growing. More and more businesses have realized the importance of outsourcing and have consulted various outsourcing companies for the services. However, amidst this tough situation, the pandemic, the IT outsourcing industry has been affected as well. … [Read more...] about Unbelievable impact of COVID-19 on IT outsourcing!
Why Tech Needs A Brand Strategy
In the tech industry, not many businesses consider their brand strategy too profoundly. This failing means that instead of standing out in an already saturated field, they just form part of the background. A brand strategy focuses on promoting the company's image to the consumer. As The Balance SMB notes, a brand is an item or characteristic that marks a particular business as … [Read more...] about Why Tech Needs A Brand Strategy
From Packaging to Delivery: How 3D Design is Essential for Supply Chain
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Your Complete Guide to a Obtaining a 360 Customer View
If you've landed here, chances are you already know you want a 360-customer view for all the customer data in your organization. Cutting right to the chance, this blog post will help you: Identify Types of 360 Customer Views Challenges with Obtaining Consolidated Customer Views Solutions and Best Practices for Getting This View Benefits of 360 Customer View Let's get … [Read more...] about Your Complete Guide to a Obtaining a 360 Customer View
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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.
