{"id":6561,"date":"2020-03-04T10:58:05","date_gmt":"2020-03-04T08:58:05","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=6561"},"modified":"2020-03-04T10:58:07","modified_gmt":"2020-03-04T08:58:07","slug":"keys-to-building-a-data-driven-strategy","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/keys-to-building-a-data-driven-strategy\/","title":{"rendered":"keys to building a data-driven strategy"},"content":{"rendered":"
\"keys<\/div>\n

keys to building a data-driven strategy <\/h3>\n\n\n\n

Thirty-five years after Robert Waterman\u2019s observation in\u00a0In Search of Excellence<\/em><\/a>\u00a0that companies were \u201cdata rich and information poor,\u201d little has changed. For sure companies are \u201cdata richer,\u201d having exponentially more data at their disposal.<\/p>\n\n\n\n

But they are still information poor, even as leaders have implemented a wide array of programs aimed at exploiting data. Most still struggle to build data into their business strategies<\/a> and, conversely, to align their data efforts to the needs of the business.<\/p>\n\n\n\n

There are a host of reasons, from lack of talent to unreasonable expectations to culture. Solving these problems is essential for those that wish to unleash the power of data across their organizations.<\/p>\n\n\n\n

It should come as no surprise that data is not yet strategic for many organizations. Business is already complex enough: When setting a company strategy, there are customers to satisfy, competitors to fend off, uncertain regulatory environments to accommodate, and skills gaps that must be closed.<\/p>\n\n\n\n

\"keys
keys to building a data-driven strategy <\/figcaption><\/figure>\n\n\n\n

Plenty of great ideas \u2014 including carbon neutrality, diversity, social responsibility, new technologies, and yes, data \u2014 compete for resources and attention. Many\u00a0success stories<\/a>\u00a0confirm<\/a>\u00a0data can add\u00a0enormous value<\/a>, but it is hard to know where data fits.<\/p>\n\n\n\n

How organizations actually view their data assets is all over the map. Managers use it every day,\u00a0even as they don\u2019t fully trust it<\/a>. Many\u00a0find basic statistics confusing<\/a>.<\/p>\n\n\n\n

People are rightly proud of their decision-making capabilities and see little need for better analytics or AI. They recoil at the thought of some sort of central oversight to their data, yet are stunned when a data issue creates unforeseen risk.<\/p>\n\n\n\n

While they know that privacy and security is important, no one has ever made their accountabilities explicit. And they realize that becoming a data-driven organization\u00a0involves adapting their culture,<\/a>\u00a0which is difficult and time-consuming. It is little wonder that data is still far from the business strategy mainstream<\/a>.<\/p>\n\n\n\n

Read more: https:\/\/hbr.org\/2020\/03\/use-data-to-accelerate-your-business-strategy<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

keys to building a data-driven strategy Thirty-five years after Robert Waterman\u2019s observation in\u00a0In Search of Excellence\u00a0that companies were \u201cdata rich and information poor,\u201d little has changed. For sure companies are \u201cdata richer,\u201d having exponentially more data at their disposal. But they are still information poor, even as leaders have implemented a wide array of programs […]<\/p>\n","protected":false},"author":3,"featured_media":6564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[31,197,208,108,47],"class_list":["post-6561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-business-development","tag-business-management","tag-business-plan","tag-strategy"],"yoast_head":"\nDazzlepop | keys to building a data-driven strategy<\/title>\n<meta name=\"description\" content=\"keys to building a data-driven strategy Thirty-five years after Robert Waterman\u2019s observation in In Search of Excellence that companies were \u201cdata rich\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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