Here is something we see a lot: companies working on big data projects that are opportunistic rather than strategic. While this makes sense considering the world in which we all live - new priorities emerge that need to be tackled immediately – it often leads to fragmented efforts.
Over the long term, the lack of structure and direction can take its toll and prevent companies from achieving their larger business objectives. At some point, organizations need to take a step back and develop an integrated data strategy that is thoughtful, comprehensive, and future looking. But how do you do this? We have learned there are some critical elements needed to develop a meaningful big data strategy, a strategy that allows organizations to move from gut feeling to data-driven high confidence decision-making.
For some organizations, building an integrated strategy means they will also need to build or grow their data governance board so that it includes both technology and experts. This broader team can help guide strategy around what the data should do, how it can be integrated and used, and help break down silos within the organization. Many organizations take the view that ownership of big data analytics efforts lie with the business units, meaning the BUs determine what problems to tackle, while IT works to support and facilitate these efforts.
At this point, companies should also think about where they will invest. Many find it useful to deploy end-to-end big data platform that can perform a variety of functions ranging from data assessment to the integration of multiple structured and unstructured data streams to advanced analytics.
Developing an integrated data strategy can have both short-term and long-term benefits for an organization. As the strategy is implemented, an organization will be more disciplined in their big data efforts, be able to better leverage IT investments, and uncover new insights that can be transformative to business.
By applying technology with a human touch, we define internal and external transformation objectives and turn them into successful market strategies.