🏆Data Strategy for your Organization – Why’s and How’s
Most organizations these days have jumped on the bandwagon of hiring data scientists, data engineers, data analysts and the never ending jumble of titles referring to data people. Ever since Big Data flooded the scene, organizations have been collecting vast amounts of data from multitudes of sources, not to mention the amounts of unstructured data that gets generated.
Why you need a data strategy for your organization:
- Increase business value – Data collected must help business reach it goals and visions. Data collected across the organization should have a common goal. Eg. Marketing and sales data should be in sync to enable business to grow.
- Improve data accuracy – Having a proper data discovery pipeline enables organizations to collect accurate data. They can hence draw actionable insights from data with having to worry about the veracity or the shelf-life of the data.
- Increase work turnaround time – Employees can focus on garnering insights and stakeholder on making decisions rather than spend hours/days identifying the right data source and gathering data.
Two key ways I see that would enable organizations to adopt a data driven path are:
- Have a Chief Data Officer – They would be entirely responsible for the organization wide adoption and use of data. They would have to be in line with the organization’s vision and goals to develop a data strategy for the organization.
- Educate employees to be data literate – Employees should have ready access to data (rather than put in a request or have someone else pull it for them). They should also be able to make sense of the data and be able to dig deeper if required to check for any anomalies.
To get your organization thriving in this era where the amount of data being generated is increasing exponentially, get started with a Data Strategy.
By: Deepal DSilva