8 Steps to Creating a Data Strategy

8 STEPS TO CREATING A DATA STRATEGY from Silicon Valley Data Science

WHY HAVE A DATA STRATEGY? Data has become critical to achieving competitive advantage in business. With so much data to look at and so many tools to consider, however, it is easy to invest in the wrong platforms and capabilities. Creating a clearly articulated data strategy—a roadmap of technology-driven capability investments prioritized to deliver value—helps ensure from the get-go that you are focusing on the right things, so that your work with data has a business impact.

STEP 1. Identify your business objectives.

Identify your business objectives. These should become the goals of your strategy; your data will be the means to executing your objectives.

STEP 2. Go from objectives to tactics.

Go from objectives to tactics. Answer the question: How are you going to achieve your goals?

STEP 3. Include all parts of the organization and all stakeholders in the conversation.

Include all parts of the organization and all stakeholders in the conversation. This means people from both the business and technical sides of your organization, at a minimum.

STEP 4. Look at how technology supports the use cases.

Look at how technology supports the use cases. Answer the question: What data technology makes this possible?

STEP 5. Exploit patterns and reuse.

Exploit patterns and reuse. Look at common relationships and services, and figure out where efficiencies are possible.

STEP 6. Prioritize all the things you could do to figure out where to start.

Prioritize all the things you could do to figure out where to start. Not all projects are created equal. What matters most to your business?

STEP 7. Define your roadmap with an end-point in mind.

Define your roadmap with an end-point in mind. Identify a pipeline of projects that take you toward your goal.

STEP 8. Lather, rinse, repeat.

Lather, rinse, repeat. Revisit and reuse this checklist to refresh your data strategy as conditions change over time.

DATA STRATEGY CHECKLIST

1.  Identify your business objectives.

2.  Go from objectives to tactics.

3.  Include all parts of the organization and all stakeholders in the conversation.

4.  Look at how technology can support the use cases.

5.  Exploit patterns and reuse.

6.  Prioritize all the things you could do to figure out where to start.

7.  Define your roadmap with an end-point in mind.

8.  Lather, rinse, repeat.

TO LEARN MORE… Click to download our position paper. Or get in touch with us: info@svds.com

8 Steps to Creating a Data Strategy

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