While it’s very impressive that today’s technology allows us to gather incredible amounts of data, the reality is much of the data is currently collected before anyone answers: “What do we want to do with this data?” The result: Your organization has a lot of data that isn’t very useful for business.
Before rushing to start collecting data, every business should begin by developing a data strategy. If you already have a ton of data, but no data strategy, it’s time to pause and develop one. Your team needs to determine what you want to achieve and then collect the data that will help you answer business questions, improve operations, and create new streams of revenue.
Author: Bernard Marr