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Businesses Should Have The Most Important Data Strategies
- Do you need structured or unstructured data, or ideally a combination of the two?
- Can you achieve your goal with internal data alone, or do you need to supplement your company data with external data (for example, social media data, weather data, etc.)?
- Do you already have or can you quickly access the data you need?
- If not, you need to set up a way to collect the appropriate data. What data collection method will you use?
- Who is responsible for ensuring the data is accurate, complete and up to date?
- How will ensure the data is stored securely?
- If you're accessing someone else's data, could you lose access to it? What will you do if they cut you off?
- How do you ensure the ethical use of data?
- What permissions do you need to be able to gather and use the data?
- How can you minimize data where possible (a fundamental principle of GDPR)?
- How will you ensure the open and honest use of data across the business?
- Collecting data
- Storing and organizing data
- Processing (analyzing) data to extract insights, which may include machine learning or deep learning technology
- Communicating insights from data, including reporting and data visualization
- Skills and capacity
- Do you have the skills to deliver your data needs?
- If not, can you train in-house staff or do you need to hire new talent?
- If you're looking at external skills, will you partner with a data provider or is there potential to acquire a company?
- How will you implement your plan? What are the key activities that need to happen next?
- Who is responsible for delivering each action?
- What changes does the business need to make?