Data Strategy

At the heart of every organisation is its ability to make decisions and execute them. To be successful, an organisation needs to make better decisions than their competitors and execute them smoothly. With the right data strategy, your decision making and execution is supported, giving your organisation an advantage in the market.

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What is data strategy

A data strategy aligns your data and analytics investments with your business strategy. While it varies depending on your organisation’s current situation, business strategy, and future ambitions, a data strategy delivers a clear roadmap to follow and procedures for daily data and analytics executions, plus tangible metrics to measure your success.

Your organisation needs Data Strategy

The benefits of aligning your business strategy and your data strategy include:

  • Stronger focus of your data efforts to the places where they matter most
  • Better data-driven business decisions
  • Increased monetisation of data
  • Clearer understanding of customer needs and market trends
  • Improved range of smarter products and services

At the heart of your data strategy are strategic data use cases, with the right people, organisation, data, technology, and processes to achieve them.

Implementing a Data Strategy

Your business strategy lies at the foundation of your data and analytics strategy, so it is vital to clearly identify this first. If you’re uncertain where to start with your business strategy, Lytix experts are happy to help with templates and a framework to get the ball rolling.

Starting from your business strategy, you need to define your expectations and ambitions for your data and analytics strategy and strategic use cases. These data and analytics use cases are connected with your strategic business use cases. Other useful elements that are included in the working roadmap are objective setting, measuring success, ownership, process, and data.

How can Lytix help me with a data strategy?

From start to finish, our experts are there to assist your organisation to put a framework in place that aligns all stakeholders on the importance of data initiatives, and how these investments support your organisation as it works towards achieving your strategic goals.