Data Strategy Best Practices

Too often we hear the question - can you help me with a data strategy?  Unfortunately, for most–this is the wrong request because it focuses on its least valuable aspect.  The more useful request is - can you help me apply data strategically in support of strategy?  Yes, at early maturity phases, the process is more important than the product!  Trying to write a good (must less perfect) data strategy on the first attempt is generally not productive–particularly giving the widespread acceptance of Mike Tyson’s truism:  “Everybody has a plan until they get punched in the face.”  By refocusing lesson learning on crawl, walk, run approaches to using data strategically, data is able to keep up with agile, evolving strategies.  This approach will contribute more to three primary organizational data goals than other efforts.  Learn how improving:

–  Your organization’s data
–  The way your people use data
–  The way your people use data to achieve your organizational strategy
contributes more than predetermined plans.  

Data are your sole nondepletable, non-degradable, durable strategic assets, and they are pervasively shared across every organizational area.  Addressing existing challenges pervasively includes overcoming necessary but insufficient prerequisites and developing a disciplined, repeatable means of improving business objectives. This process (based on the theory of constraints) is where the strategic data work really occurs as organizations identify prioritized areas where better assets, literacy, and support (data strategy components) can help an organization better achieve specific strategic objectives. Then the process becomes lather, rinse, and repeat. Several complimentary concepts are covered including:

–  A cohesive argument for why data strategy is
    necessary for effective data governance
–  An overview of prerequisites for effective strategic
    use of data strategy, as well as common pitfalls
–  A repeatable process for identifying and removing data constraints
–  The importance of balancing business operation and innovation