Every organization leverages data in one-way or the other. So what differentiates the successful ones from the rest? The key to success lies in utilizing your data strategy to solve business problems.
Technology advancements like modern Data Warehouse engines or the wave of Artificial Intelligence and Machine Learning are all encouraging. In the midst of these rapid changes, the significance of a data strategy is often overlooked. The technology, after all, is amazing. Imagine how far it can go with a culture to match it stride for stride.
An effective data strategy ensures business alignment, and takes both top-down and bottom-up perspectives into consideration, along with laying emphasis on organizational culture. Companies need to consider data as a strategic asset. Data strategy outlines the road map for prioritization of initiatives, governance and communication.