Data Driven Culture
1) Does your business spend most time in onboarding/Waiting/searching for data rather putting it to use?
2) Do you have contradicting KPI metrics and inconsistencies across reports built on same data content?
3) Are you experiencing a deteriorating customer experience by not able to personalize or gauge your customer properly?
4) Is there lack of ability to perform faster hypothesis and advance analytics?
Above are few symptoms of Enterprise with lack of clear data strategy.
Data today is lifeblood and key competitive advantage for organization of all sizes. Data Strategy in short is a medium that glues business and technology stakeholders. Data Strategy is not about accumulating petabyte of data, it is about how data can be put to use and help generate real value to business.
Efficient Data Strategy enables roadmap for
1) Centralizing data from different system of records and data silos
2) Catalog data assets to make it searchable and understandable
3) Increase visibility of data, enabling self-service of data assets to various consumption applications (Data Science, Reporting, Analytics etc.) for faster hypothesis of data products
4) Address key data management aspects like Metadata, Lineage, data quality, data security among others
5) Enable efficient data sharing of common metrics/derivations across use cases
Remember, For AI or Analytics first enterprise one has to be Data First. Sound foundational data strategy is step towards being data first enterprise.
By: Srivatsan Srinivasan