7 Signs Your Company Needs a New Data Strategy

According to CIO Dive “a mere 13% of data and analytics projects reach completion, and of those that do, only 8% of company leadership report being completely satisfied with the outcome.”

What are the signs your company needs a data strategy:

1. You have too many data silos spread across your business – no integration of data, duplication of data and different answers to the same questions
2. Typically companies are only using 1% of their data – you don’t know what data you have and therefore cannot attach any value to it
3. Hadoop is the answer to all your data needs – buying the technology of the day doesn’t make a data strategy.
4. You have too many KPIs / metrics that are alike in their output. Thing hard about what you want to measure not just for the sake of it.
5. Once you have the results from your data analysis, you don’t know what to do with them – no data-driven decision culture has been embedded into the organisation
6. There are little or no owners of business data – when it comes to governance no one has the time to manage the data, so that it’s happy to be analysed and robust enough. Data quality sucks!
7. Executives and management scratch their heads – reports are often out of date and static. Which is often frustrating and time consuming!

Developing a solid data strategy is about embedding data-driven decision making, and being able to create data applications inside your company to help achieve your strategic goals and crush the competition!