In the era of big data, and with the colossal amount of data to which businesses now have access, understanding how to build a data / data strategy has never been more important. The IDC (International Data Corporation) predicts that the amount of data in the world will drop from 33 zettabytes in 2020 to 175 zettabytes by 2025!

It is a phenomenal growth rate which is around 61% per year and foreshadows the challenges of tomorrow.

The question that interests us here is how you, as a business or start-up manager, are going to achieve the maximum growth in the potential offered by data?

The answer lies in building an effective data system and strategy.

Whether you want to develop a data strategy or improve upon an existing one, this how-to article can certainly help you develop your understanding of what a data strategy is, and define its importance, by providing you with practical advice on how to ‘start your Ivory Coast Phone Number List process, and then introduce some data strategy models.

Ivory Coast Phone Number List

But first, let’s start by understanding why creating a data strategy is so important to your organization.

Why do you need a data strategy?
There is an endless amount of data and data-driven platforms you can rely on to make your business more successful. Most of this data can be used to improve the performance of your business and find new solutions, whether for example increasing sales or the operational efficiency of your organization.

However, a 2019 study found that more than 80% of heads of marketing departments struggled to keep up with new technologies and often made decisions blindly, without taking the input into account. Datas.

Therefore, one can legitimately consider that a limited number of companies are able to take full advantage of their data. And there are two main reasons for this: poor management or a complete lack of data processing.

However, a well-thought-out and well-designed data strategy will allow you to improve your ability to perform the following actions, essential for the success of your

Business project:

Make business decisions based on data (i.e. tangible evidence)
Understand what your customers think and feel
Discover the latest trends relevant to your industry / profession
Offer more suitable products and services
Monetize your data
How to define your data strategy
The objective of an effective data strategy must certainly be based on a global vision, but also on two vital issues: your commercial strategy and your team .

Build on your business strategy

Review your business plan and think about how data can help you achieve your goals. On each page and in each section, identify the essential role that data should play in your project:

What is the problem that needs to be solved?
What kind of data could help solve this problem?
Where will the data in question be extracted (sources)?
How are you going to store and safeguard them?
How are you going to analyze them?
Who will be responsible for this task?
Etc.

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