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The Data & Analytics process has a life cycle needed to collect, store, manage, and share data correctly. The cycle includes five interrelated pillars with a symbiotic relationship that allows a company to progress from one pillar to another.
The Five Pillars to Promoting a Data Culture
Data: Needs to be reliable across the entire organization.
Technology: Must be perceived as an accelerator to achieve better business analytics performance.
Analytics: This should provide insights from data that result in actions that help to achieve strategic objectives.
People: We need to find, motivate, and retain talent who have the skills to develop data and analytics projects.
Culture: Ensure the company makes a habit of using data to make decisions.
The Data Life Cycle can only be complete when the five pillars work together and result in people making data-driven decisions.
Companies must thoroughly follow the Data Life Cycle to promote and strengthen a data culture.
