My experience shows that organisations with an effective Data Strategy, and a clear plan for delivering it, are more likely to create value from their data than those without.
I define a Data Strategy as a framework that enables you to deliver business value through the application of data and analytics. It should encompass a clear statement on the business opportunity, the capabilities you need in order to deliver on that prize. And the plan you will take to get there. To help organisations better think about, document and plan this, we created the 6 Pillars of a Data Strategy approach.
This approach has been used and deployed in hundreds of organisations in many different sectors and continually proves to be an industry leading method to build, grow and nurture a data guided business.
To further help, we have now launched The Data Strategy Scorecard, which benchmarks your organisation against the 6 Pillars of a Data Strategy. By answering 42 questions (in less than 5 minutes), the Scorecard identifies the strengths of your strategy – and where to focus your attention in order to deliver real business value.
After you have answered the questions, you will receive your results which includes an overall score for your Data Strategy as a whole and a breakdown of your individual scores against each of the 6 pillars of a Data Strategy, along with a few pointers on how to improve. This will give you a clearer understanding of how well your Data Strategy is serving you and your organisation.
You can use this as a fast and effective way to get a view on how your Data Strategy stacks up and what course corrections you can make. You can share the results with your team and peers to highlight the progress you have made and/or the gaps you still have. You could share the results with your leadership team or Board to help them give an indication of the work that is required to build a truly data guided organisation and get you on the path to defining your Data Strategy and delivering success.
However you plan to use it, see how your Data Strategy scores and take the test now