Too often, an organisation’s data strategy is disconnected from its business strategy. Businesses may be unclear about the data they hold or the value they can get from it, while leaders may be in the dark about how data can help deliver their strategic objectives. This can put people in the crosshairs.
They are left to make sense of how the data can deliver the business priorities and to answer key business questions, while also trying to drive the business forward – and often failing.
Valuable data lives in every aspect of a business, from finance and IT to marketing and HR, but only 23% of organisations report having an enterprise-wide data strategy. Building a data strategy requires new levels of collaboration between every business team. Adopting it in silos is only likely to lead to failure.
Start by really understanding your company’s strategy. What are the major objectives to grow revenue or market share? Or to innovate, better serve customers and drive efficiencies? Your data strategy needs to address how it will deliver on these wider objectives or risk becoming irrelevant.
Download our full guide ‘Power to your people’ on the six ways to put people at the heart of your data transformation.