Setting the data strategy
You have data if you have a product, but you need more than data to optimize and improve your product. Having a data strategy enables you to turn data into value. Your data strategy comprises the tools, methods, and rules that tell you how to handle, analyze, and use data. A data strategy enables you to make data-driven decisions. It also assists you in keeping your data secure and compliant.
Almost every organization collects data in different ways, and a data strategy helps a company manage and evaluate all of this data. It also puts a company in an excellent position to deal with problems, including the following issues:
- Without capture and analysis of appropriate data, you can’t support operational decision-making, and this results in slow and inefficient product operations
- Data privacy, integrity, and quality can limit your capacity to evaluate data
- An inadequate grasp of essential business components (clients, supply chain,...
