By Mark Madsen
Strategy is essentially an exercise that connects problems and opportunities with solutions. In today’s world, the solutions almost always involve an information technology component, which means using or creating new sources of data. With the advent of so many new sources and the ability to take advantage of them, it’s no surprise that it has become fashionable to discuss data strategy.
Data strategy focuses on how data can be used as a resource to further the goals of a business strategy. This means building capabilities: treating data as an asset, organizing to make better use of it, and building the necessary management and technology infrastructure.
There are many ways to build capabilities. Choices impose constraints and trade-offs, which are the essence of crafting a set of policies, procedures, and plans that make up a data strategy. This Ten Mistakes to Avoid focuses on many common mistakes we make when crafting a data strategy.
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