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What is Data Strategy?

By   /  October 30, 2017  /  No Comments

data strategyData Strategy describes a “set of choices and decisions that together, chart a high-level course of action to achieve high-level goals.” This includes business plans to use information to a competitive advantage and support enterprise goals.

A Data Strategy requires an understanding of the data needs inherent in the Business Strategy. According to Donna Burbank, it:

“It’s the opportunity to take your existing product line and market it better, develop it better, use it to improve customer service, or to get a 360-degree understanding of your customer. Data Strategy is driven by your organization’s overall Business Strategy and business model.

A Well-Developed Data Strategy has:

  • A strong Data Management vision.
  • A strong business case/reason.
  • Guiding principles, values, and management perspectives.”
  • Well-considered goals for the data assets under management.
  • Metrics and measurements of success.
  • Short-term and long-term program objectives.
  • Suitably designed and understood roles and responsibilities.

Other Definitions of Data Strategy Include:

  • “Aligns and prioritizes data and analytics activities with key organizational priorities, goals and objectives.” (Micheline Casey, CDO LLC)
  • “A coherent strategy for organizing, governing, analyzing, and deploying an organization’s information assets that can be applied across industries and levels of data maturity.” (DalleMule and Davenport, Harvard Business Review)
  • “Concepts of standards, collaboration and reuse applied to data to support improved accuracy, access, sharing and reuse.” (SAS)
  • “Intentional action & prioritization plan to: (Braden J. Hosch, Stony Brook University)
    • Harness and integrate data
    • Create and disseminate information/intelligence
    • Advance a business mission “

Businesses Develop a Data Strategy to:

 

Photo Credit: docstockmedia/Shutterstock.com

About the author

Michelle Knight enjoys putting her information specialist background to use by writing technical articles on enhancing Data Quality, lending to useful information. Michelle has written articles on W3C validator for SiteProNews, SEO competitive analysis for the SLA (Special Libraries Association), Search Engine alternatives to Google, for the Business Information Alert, and Introductions on the Semantic Web, HTML 5, and Agile, Seabourne INC LLC, through AboutUs.com. She has worked as a software tester, a researcher, and a librarian. She has over five years of experience, contracting as a quality assurance engineer at a variety of organizations including Intel, Cigna, and Umpqua Bank. During that time Michelle used HTML, XML, and SQL to verify software behavior through databases Michelle graduated, from Simmons College, with a Masters in Library and Information with an Outstanding Information Science Student Award from the ASIST (The American Society for Information Science and Technology) and has a Bachelor of Arts in Psychology from Smith College. Michelle has a talent for digging into data, a natural eye for detail, and an abounding curiosity about finding and using data effectively.

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