Data-driven decision-making involves utilizing data and analytics to solve business problems. Relying on facts rather than intuition or personal opinions can lead to more accurate and effective decisions. In business organizations, evidence-based decisions can optimize operations, enhance productivity, and drive growth. By examining trends, patterns, and correlations within datasets, business operators can uncover valuable information that helps […]
Building a Successful Data Quality Program
Creating a successful Data Quality program is essential for any organization seeking to use their data for improving efficiency and better decision-making. Data of poor quality can result in decisions that damage the business. Building a successful Data Quality program helps to ensure the data is of the highest quality, making it both useful and […]
Gaining Leadership Support for Data Governance
Among today’s data-driven businesses, there’s no lack of support for Data Governance. But that enthusiasm doesn’t always make its way to the top of the management chain. “If you don’t have senior leadership sponsorship and understanding of your Data Governance program, your program is going to be at risk,” said Robert S. Seiner, president and […]
Developing an Effective AI Strategy
The process of building a successful AI strategy has changed. In November of 2022, the evolution of artificial intelligence took a dramatic leap forward: OpenAI developed a more evolved, smarter chatbot called ChatGPT. By combining generative AI with large language models and highly functional algorithms, the company developed a chatbot supporting a new level of […]
Getting Executive Buy-in for Data Management
Within the last several years, the marketplace has shifted from industrial-produced to data-based. Consequently, many companies have a strong drive to become data-driven, from financial firms to nonprofits. Yet, when C-suite managers and others discuss making money from data, they see the face of data analytics and Data Science. These conversations miss the Data Architecture and Data Management fundamentals […]
What Is Data Strategy and Why Do You Need It?
With the increasing amount of data available, businesses need to have a clear, enterprise-wide plan on how to collect, analyze, and use data to make informed decisions. A well-laid-out plan or “Data Strategy” can help businesses identify gaps and take corrective actions to improve operations, enhance customer experience, and drive growth. A strong Data Strategy can also […]
Developing a Data Strategy Template
Organizations want a solid and usable Data Strategy template – a well-thought-out plan for a set of decisions that form a pattern, charting a high-level course of action – but face challenges. For example, only 30% of companies have impactful data strategies that align with some operations, resulting in wasted investments in improving analytics and business insights. Instead, most […]
Data Strategy Best Practices
Data Strategy, the master plan or blueprint for confronting day-to-day business challenges and meeting pre-defined business goals using data, has gained significant traction. More companies are seeing the connection between following Data Strategy best practices and boosting profit. Gartner estimates that 50% of financial planning and analytics leaders will take charge of developing and refining their Data Strategy. Moreover, […]
Developing a Cloud Migration Strategy
Cloud migration involves moving an organization’s data, applications, digital services, databases, and other IT resources to the cloud environment. A cloud migration strategy contains the blueprint for making this move happen. According to Gartner, more than 45% of IT spending will shift from traditional data-processing platforms to the cloud by 2024. This observation reaffirms the cloud platform’s popularity as […]
Data Governance Best Practices
With digital transformation initiatives on the rise, organizations are investing more in Data Governance, a formalized practice that connects different components and increases data’s value. Some may already have established Data Governance programs for older Data Management systems (such as for controlling master data) but may lack control in newer technologies like training an AI to generate […]