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An effective Data Strategy considers the mission, objectives, and organizational structure of the business. It is essential to assess the broader purpose of the data initiative and the people or departments responsible for carrying out the work related to the initiative. The implementation of a Data Strategy cannot happen in silos; it needs to align with the overall mission and goals of the business.
The following are the key outcomes of aligning Data Strategy and Business strategy:
1 –Data will become a strategic asset: Data is a valuable resource that’s needed to achieve different strategic business objectives.
2 – Internal change in the company: Organizational change must be born and pushed down from the highest level of the business. The C-Suite is critical, and it’s the responsibility of the CEO to generate internal change involving business plans so that the transformation is comprehensive and transverse.
3 – Greater control and responsiveness: Implementing a data strategy at the top of the company will put all the necessary information out on the table. Any unforeseen needs regarding data management, technology, processes, people, and capacity will be uncovered quickly and resolved using the best solution, saving time and resources as the business grows and evolves.
