Data has always been an underutilized asset within the organization. All of a sudden there is an unnerving focus on data analytics and organizations are being pressured to use data to improve their service capabilities, operations and also to generate revenue. Buzzwords like Big data are now on the wane however Machine learning and Artificial intelligence are on the rise. Organizations are in a frenzy to exploit ML and AI and hiring Engineers, developers, chief data officers, data scientists and data analysts without a sound data strategy.
Conventional wisdom says you cannot build a skyscraper on a superficial foundation. There are no shortcuts to sound data strategy and making sure the data is appropriately setup before you harness value from it. If your foundational data set is bad, you will be ineffective and get very little benefit from Data Insights. Your decision making on these insights will be flawed and frustrating. On the other hand will become irrelevant in the marketplace if you wait for 5 years for your data to be clean before you start harvesting it.
So, what are the options? Corporations should start small and the expand on their data strategy. Here are few key steps to take
Identify the data sets that give you the most competitive advantage
Start small, pick up an area, start data clean up, kick off pilot projects to derive insights and test effectiveness. Repeat the process again
Create a long term data clean up and governance strategy for the identified areas
As legacy data becomes irrelevant and systems mature, your new data will age and provide you a large repository of information to harvest meaningful insights.
Summary: There is no silver bullet to get it all right in a short period of time however, organizations should also avoid boiling the ocean. It is important to start small, shut off the noise and focus on the end game.
– Samuel Seelam
Bình luận