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3.4

Strategy

Let’s take a deeper dive into Strategy so that you can consider all elements of it. It would be useful to have your Strategy Alignment Canvas handy for this section.

At The Data Lab we are often asked “what is in a data strategy?”. Exploring strategy in detail merits a course in its own right, but in essence the core of a data strategy should at least cover these 4 things:

  1. Source: what data you have, where it comes from, how it is collected and stored, and how it is made secure and available

  2. Trust: what you do to track, move, transform, and validate your data so that you trust it enough to make decisions with it.

  3. Analysis: What analysis and monitoring you plan so that you know what questions to ask and which changes to track.

  4. Insight: How you will take these results to help you predict what could happen and how you will present this so that people see the key messages and don’t get lost in the volume of data.

Let’s use the workbooks to bring this alive. With reference to your Strategy Alignment Canvas, does your data strategy allow you to answer key questions on strategy?

illustration of the strategy and investment questions in this step Questions (Click to expand) or see below

Strategy

  • Why do we need to do these data activities?
  • Why now?
  • How will this differentiate us from the competition?
  • What’s in it for our customers?

I would encourage you to share your answers and views to stimulate debate.

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Driving Value from Data

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