Data Strategy, the master plan or blueprint for confronting day-to-day business challenges and meeting pre-defined business goals using data, has gained significant traction. More companies are seeing the connection between following Data Strategy best practices and boosting profit. Gartner estimates that 50% of financial planning and analytics leaders will take charge of developing and refining their Data Strategy. Moreover, […]
Developing a Cloud Migration Strategy
Cloud migration involves moving an organization’s data, applications, digital services, databases, and other IT resources to the cloud environment. A cloud migration strategy contains the blueprint for making this move happen. According to Gartner, more than 45% of IT spending will shift from traditional data-processing platforms to the cloud by 2024. This observation reaffirms the cloud platform’s popularity as […]
Data Governance Best Practices
With digital transformation initiatives on the rise, organizations are investing more in Data Governance, a formalized practice that connects different components and increases data’s value. Some may already have established Data Governance programs for older Data Management systems (such as for controlling master data) but may lack control in newer technologies like training an AI to generate […]
Developing a Strategy to Democratize Data
The goal of building a strategy to democratize data is to allow all appropriate staff to access the organization’s data, regardless of their technical skills or job description. Previously, a researcher would have to submit a request to the IT department for the information they needed. For example, if a production manager wanted a mid-month […]
Data Literacy Assessment: How to Measure Success
There is no silver bullet for how organizations can drive data literacy throughout their organizations, but a few general elements include technology, processes, training and programs, and change management. Once an organization starts using data on a daily basis to extract actionable insights – and both the business leaders and line managers start valuing data […]
Data Strategy 101
Organizations that treat data as a business asset look for ways to transform the entire business ecosystem into a data-driven entity. Yet, aligning business goals with data goals is neither easy nor straightforward; a systematic and well-defined Data Strategy must be conceived and developed to take the data-enabled business practices forward. In this Data Strategy 101 […]
The Importance of a Change Management Plan for Digital Transformation
In times of uncertainty in the global business landscape, the organizations that are quick to adapt and respond to change are the ones that survive crises such as the pandemic. In the past five years and especially during the pandemic, global organizations have been under tremendous pressure to adopt digital transformation to survive. The truth is that […]
Key Components of a Successful Data Strategy
A successful data strategy generally requires the use of certain key components. Most businesses have invested in some form of Data Management, but all too often different sections of a business aren’t terribly well coordinated. A data strategy can be described as a dynamic process used to support the collection of data, its organization and […]
A 12-Step Program for Improving Data Literacy
In our digitally obsessed economy, it’s become all too prevalent for knowledge workers to assume that data problems are best solved with newer and better tech. In fact, the most powerful solutions for maximizing business value are right under the noses of management – in the form of improving data literacy skills. In the service of […]
Eight Common Data Strategy Pitfalls
In the digital business world, organizations can’t take advantage of their data assets without a proper Data Strategy in place. The Data Strategy is the plan that enables an enterprise to meet its business goals through its data. Avoiding common Data Strategy pitfalls and creating a successful strategy empowers an organization to realize its mission […]