What is the one indispensable action you would emphasize for a successful Data Strategy, which would have a lasting impact on your organization's long term competitiveness?

2.3k views3 Upvotes9 Comments

CEO in Services (non-Government), 201 - 500 employees
In our projects, we see that those customers are more successful who manage to see the data strategy not as part of the IT organization, but as a "link" between IT and business. 
Head of Data Strategy in Software, 51 - 200 employees
Above all else, CDO's need to focus on aligning the use of data to enable specific business outcomes, now and into the future.  These business outcomes would be defined within the overall corporate strategy, and align to specific key initiatives within functional business units.  CDOs must operate both strategically and tactically, and find ways to deliver value quickly and iteratively.  These quick wins will buy the time, additional funding, and credibility CDOs need to address longer term, more intractable issues such as the corporate culture, governance maturity, or data literacy.  
Director of Technology: AI in Media, 10,001+ employees
From my perspective, the one indispensable action is to foster a culture of data-driven decision-making throughout the entire organization. This means not only investing in the technology and infrastructure needed to gather, store, and analyze data but also actively promoting the use of data to inform decision-making at every level of the organization. To achieve this, I would prioritize the following actions:

Education: Provide ongoing training and education to all employees on the benefits of data-driven decision-making and how to interpret and analyze data effectively. This should be done in a way that is accessible to all employees, regardless of their technical background.

Communication: Encourage open communication and collaboration between different departments and teams to ensure that data is being shared and used to inform decisions across the organization. This can be achieved through regular meetings, cross-functional projects, and the use of shared dashboards and analytics tools.

Accountability: Hold all employees accountable for using data to inform their decisions and regularly track and measure the impact of data-driven initiatives. This can be done through setting targets and KPIs that are tied to specific data-driven initiatives and regularly reporting on progress.
Managing Partner and Chief Information Officer in IT Services, 2 - 10 employees
Accuracy at the first instance. Capture as much possible directly from the originator as errors can derail your decision.
CTO in Software, 51 - 200 employees
Share a commonmeta dictionary between IT and Business because ubiquitous language is the most important challenge to win in long term software strategy.

A lot of time happen that in the sourcecode you call a field in a manner that doesn’t have any counterpart in the business processes.
2 1 Reply
CTO in Software, 51 - 200 employees

I correct "Share a commonmeta" with "common metadata"

VP of Engineering in Banking, 201 - 500 employees
Data Mesh architecture, which has the following 4 key principles:
- Domain-driven ownership of data
- Data as a product
- Self-serve data platform
- Federated computational governance
Practice Head, Data Science & Cognitive Analytics in Banking, 10,001+ employees
First and foremost is alignment with organization's goals and next consistent, open communication across the organization.

Create awareness amongst the organization through townhalls and make it a point to talk about it in every major meetings. Collaboration between IT, business, operations and data science teams are of paramount importance. Without collaboration the entire effort fails
Director of Data, Self-employed
The one indispensable action I would emphasize for a successful Data Strategy that would have a lasting impact on an organization's long-term competitiveness is to prioritize data governance.

Effective data governance ensures that data is accurate, complete, secure, and compliant with regulations, which is crucial for making informed business decisions. A well-designed data governance framework will establish clear policies and procedures for data management, ownership, quality control, and access. It will also define roles and responsibilities for data stewardship, ensuring that data is managed and maintained throughout its lifecycle.

By prioritizing data governance, an organization can create a culture of data-driven decision-making, minimize the risk of data breaches and other data-related issues, and maximize the value of its data assets. This, in turn, will enhance the organization's long-term competitiveness by providing insights and opportunities for innovation, growth, and customer satisfaction.

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CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.
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