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5 Ws’ of Winning Data Strategy

According to a study, it was found that 78% enterprises agree that data strategy, collection and analysis have potential to fundamentally change the way their business operates. The sole aim of an effective data strategy is to utilize this potential . The 5 questions that one need to answer before building a data strategy are : WHAT is Data Strategy?: It is a strategy that allows you to have a comprehensive vision across the enterprise.

WHY do we need a Data Strategy? :You need a data strategy to find correlations across multiple disparate data sources, predict customer behavior, predicting product or service sales

WHEN should I start or have a Data Strategy?: Answer is NOW.

WHO in our organization should drive this Data Strategy?:Chief Data Officer

WHERE do we start with Data Strategy?:It depends on how the organization is structured , it’s recommended to start it in some business unit.

 Read more at : http://dataconomy.com/2017/01/data-strategy-part-i/

 

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