Hearing complaints from teammates in your organization about communication issues? Are co-workers confused about the meaning of words or acronyms used during meetings with other departments? Do systems and processes require manual data entry or copy/paste to move and store information? Chances are, your organization needs a data strategy.
Implementing a data strategy brings multiple benefits.
- Defining and executing on a data strategy will codify business processes.
- Organizations can make informed decisions quicker, and pivot sooner, because data is being consumed and processed in real-time.
- Cross-organizational departments make less communication mistakes by using data semantics and language that have the same meaning across the organization.
As data technologies and software tools grow, the amount of data that organizations manage and use to generate profit will continue to expand. If you're part of a company that has struggled to define a data strategy, here are five