Tag: data strategy

Why having a data strategy is important? And Why now?

Data like oil originate in one place, flow through multiple systems, transform itself throughout the life cycle. It creates value not by its mere existence but by effective flow and transformation. Thus managing data through various phases is important to any business. Why having a data strategy is important? And Why now? Operational Efficiency in the…
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Success comes to data-enabled businesses

In order to gain a competitive edge, in order to become more efficient, or simply in order to run their business, execute their roadmap and achieve their objectives, companies need to leverage their data: they can’t make decisions just based on gut feelings; it has to be evidence-based decisions. Data itself cannot yield value in…
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Importance of Strategy for Digital Landscape

To serve the ambitions behind analytic, it becomes essential to have a strategy that helps to optimize the overall process rather than individual projects. This is where having a good data strategy kicks in. The foremost reason I must encourage for having a data strategy is that it can help to reduce carbon footprints by…
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Secret Recipe for a Successful Business!

A French military leader once said, “war is ninety percent information”. The same thing holds true even today. Nowadays, businesses are no short of wars, everybody is fighting or competing to dominate the market and get ahead of others. And in this cold war of dominance, strategic use of data is certainly a way to…
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Winning with Data Strategy

The saying from many writings ‘data is the new oil” holds true as more companies are profiting through optimal use of their data. Data also can be crude as oil at the mined state. Data just as oil provides value with respect to how it is been collected, processed and accessed. With the growth in…
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The Significance of a Solid Data Strategy in Business

In my view, a solid reporting strategy is essential for any sizable organization, and is becoming even more important over time as data volumes and the need to integrate information from various sources grow.  There are several key components that come to mind when putting together such a strategy document: An analysis of the various…
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Linking Analytics to Business Objectives for 10x returns

Data Science is an amazing tool in the organization’s toolbox. It can provide immeasurable value when done well. And yet Gartner estimates that by 2022, only 20 percent of analytic insights will deliver business outcomes. What’s missing? Linking your analytics outputs to tangible business objectives. Call this concept “Data Strategy”, “Data Culture”, “Data Literacy” or anything else…
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Data Strategy – the StarCraft of every business

Just last week, Google’s DeepMind beat humans at StarCraft. Every business, from a local bakery to a multibillion-dollar company is like StarCraft. It hinges on rapidly evolving technology, data and how stake holders interact with these two key components. At a bakery its important to keep track of operations and supply chain. Nobody likes the…
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Focused Data Strategy

With data termed as the new oil today, it has become imperative to collect data. Today we have the technology to store large amounts of data but this becomes like the problem of abundance. We’re hard-wired to deal with scarcity, not abundance. Some might argue that the data we store might come handy someday. But,…
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Successful Execution: Why a Data Strategy is a MUST to Get Results

Imagine a team of highly talented race drivers who are highly motivated, have the best cars money and technology can buy (e.g., Ferraris, Porsches etc.) Sounds promising, but now ask them to drive to a destination but don’t tell them how far it is and exactly where the finish line is! Despite their collective efforts,…
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