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image illustrating that "value" and "ambition" have been discussed in week 1 with "environment" and "ability to execute" to come in subsequent weeks

Bringing it all together - thoughts and questions

This week we explored the 3 main areas of value.

image illustrating the 3 main areas of value 
1. improved decisions  - where data is used to validate assumptions.
2.  improving operations - where data is used to identify process improvements and changes to operating models as well as real time interventions to improve outcomes. Finally, 
3. Monetisation of data -  where your package and sell data to others. Data Values (Click to expand)

In short, if you want to drive value using data you need to focus on delivering relevant organisational outcomes.

We also explored aspects of ambition (strategy) and we will discuss this, and more, in the subsequent weeks.

The main goal of this course is to give you the confidence to start adding value through better use of data. Hopefully you can see that focusing on value and aligning to strategy is the way to go.

By now your Strategy Alignment Canvas, your Data Value Canvas should be populated with a few ideas for what you need to do to be successful and we will add to these in the subsequent weeks.

Screenshot of the Strategy Alignment Canvas and the Data Value Canvas from the workbook

Completing them might also have raised some more questions that you might want share below.

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This article is from the free online course:

Introduction to Data for Business Leaders

The Data Lab

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