In the information economy, every organization needs a data strategy. Today, digital upstarts are disrupting every industry and placing a premium on companies that can capitalize on data and analytics. Some need a data strategy to improve operational efficiency, others grow revenues and profits, and most to achieve both simultaneously. The best data strategies are tailored to an organization’s unique circumstances, culture, and data maturity.
A data strategy is an enterprise-wide plan to harness data and analytics to achieve business goals. It defines a vision, goals, metrics, risks, and use cases along with detailed plans and a roadmap that specifies the people, processes, technology, organization, and cultural change required to achieve the vision.
This report defines a data strategy, explains why an organization needs one, and details its core components and how to create one.