Benefits of your data strategy
A data strategy helps you create the necessary alignment across your organization.
These are some examples of activities that your data strategy should drive:
Principles and processes to guide the organization toward faster decision-making and continued alignment with business goals and objectives
Continuous review of recommended systems and tools that align with your strategy’s vision while avoiding a one-size-fits-all approach
Clear and consistent policies and procedures for managing data securely throughout its lifecycle, from creation to disposal
Ensuring that data is used ethically and responsibly, in compliance with relevant laws and regulations
Creating and enabling a culture of data-driven decision-making through the use of accessible, governed data to drive business value
The responsible use of AI across your organization
A framework for building a modern data strategy
Organizations can follow the three pillars below for building a modern data strategy:
Data experiences: Productive user experiences enabling all users to access and create value from relevant data
Establish a data university to advance data literacy for everyone in your organization
Pivot your organization from role-oriented to product-oriented with cross-functional teams
Define data principles for your organization that align with priorities and provide clarity in decision making
Data economy: Principles and practices to ensure that data can be published, discovered, built on, and relied on
Staff a data platform team that is obsessed with the developer and analyst experience
Make sure you get external/enterprise source data into the data economy early, such as customers, transactions, and product data
Find teams that depend on each other for data and help them share their data as a data product
Implement basic data governance practices — stewardship, discovery, quality, reliability, and privacy
Data ecosystem: A unified, open and intelligent platform with end-to-end data capabilities for all users and needs
Choose a data ecosystem that provides your organization with all the capabilities you need out of the box, with open standards to plug in other components where needed
Make a plan to enable everyone in the organization to apply AI in their work using the capabilities in the ecosystem
Keep your operational work to a minimum by choosing serverless tools for the capabilities in your data ecosystem
Getting started
These are some important questions to ask yourself before designing a modern data strategy for your organization:
Does everyone in the organization have positive experiences working with data?
Do you have dedicated learning paths for different personas in your organization to use data effectively?
Do you have democratized access to data products to build the data economy?
Does it support all your data people, including app developers, business analysts, data scientists and line of business users?
Can you enable the next generation of data driven solutions including Data Science / Machine Learning (ML) at scale?
Are you effectively using data and AI to fast-track your strategic business objectives?
Can your data platform provide the technological ecosystem that enables data processing at scale with modern tools?
Can you share data internally and externally in a governed way?
Read our new paper, Three pillars for building a modern data strategy, to find out how to get started and learn more about how to define a modern data strategy for your business.
It was an honor and privilege to work on this with Thomas de Lazzari, Sina Nek Akhtar, David Montag, Andreas Ribbrock, Zara Wells for support, work they have done and discussions.