{"id":1888,"date":"2022-04-20T09:04:54","date_gmt":"2022-04-20T08:04:54","guid":{"rendered":"https:\/\/www.calligo.io\/build-your-robust-data-strategy-the-right-way-2\/"},"modified":"2023-09-11T11:45:40","modified_gmt":"2023-09-11T10:45:40","slug":"build-your-robust-data-strategy-the-right-way","status":"publish","type":"post","link":"https:\/\/www.calligo.io\/insights\/machine-learning\/build-your-robust-data-strategy-the-right-way\/","title":{"rendered":"Build your robust data strategy the right way"},"content":{"rendered":"

To uncover how to build the best data strategy for your business, we chat with Adam Ryan, Calligo\u2019s Chief Data Officer for Data Strategy<\/a> on what to do, what to avoid – and everything else in between\u2026<\/p>\n

<\/p>\n

Where to start with building a data strategy?<\/h2>\n

A data strategy provides a framework for how you acquire, organize, analyze and deliver your data to best support your business objectives. You can use a robust data strategy to escape the dreaded data ditch<\/a> and avoid inadvertently falling into it.<\/p>\n

Collaboration and transparency are key to enhancing buy-in. \u201cThe first big step when commencing on creating a data strategy is the understanding that this should be a collaborative process and not something that is developed in isolation,\u201d Adam advises. \u201cA data strategy will cover all areas of an organization and internal messaging is crucial to make sure everyone knows the objectives and the rationale.\u201d<\/p>\n

It\u2019s rare to come across a company where there isn\u2019t a history of data usage in some form. Most companies will be consuming and using data already and sometimes there\u2019s an unshakeable resistance of \u2018why do we need a data strategy? We\u2019ve got this far without one.\u2019 Adam strongly highlights the importance of showing the tangible benefits of a data strategy, and how it isn\u2019t a \u2018magpie syndrome\u2019 of being the next shiny thing<\/strong>.<\/p>\n

By showing people the benefits of building a data strategy and how it can support them in their roles, you\u2019ll help foster an environment of collaboration. Creating stakeholder buy-in is one of the most important aspects when it comes to building a data strategy.<\/p>\n

Using the 8 pillars to encourage stakeholder buy-in<\/h2>\n

Given the extent of what needs to be covered in a data strategy, multiple stakeholders will be impacted. It\u2019s crucial to manage stakeholder buy-in to improve chances of success. \u201cThe most successful method we\u2019ve found to do this is to explain the rationale behind our 8 pillars that are covered in a data strategy and why they have a collective relationship to enabling progression,\u201d Adam explains.<\/p>\n

The 8 pillars of data strategy are:<\/p>\n

Data Ethics
Data Maturity
IT Architecture
IT Security
Privacy by Design (PbD)
Collaboration
IT Cost Management
Data Insights<\/p>\n

Adam observes: \u201cOne stakeholder may have a different focus to another but it\u2019s important to understand that success is a team effort and there\u2019s a lot of interdependencies of a successful data strategy. It leads to a healthier onward working environment when considering all the interdependencies of a successful data strategy.\u201d<\/p>\n

Forming your data strategy with Calligo<\/h2>\n

To build a data strategy, it\u2019s important to accurately reflect on where your company is in its data maturity<\/b>. According to Adam, \u201cThese maturity models are particularly useful as they set a baseline based on evidenced feedback. People are able to recognise the behaviors that set the maturity level and why there are benefits in advancing the maturity capability level.\u201d Calligo specializes in <\/span>independently and accurately assessing your data maturity<\/span><\/a> so you avoid falling into the <\/span>dreaded data ditch<\/span><\/a> of mistakenly classifying your company.<\/span><\/p>\n

Through a series of interviews for all different areas of the business, <\/span>Calligo incrementally increases the knowledge of individuals to the importance of other areas that may not immediately appear important to them<\/b>.\u00a0<\/span><\/p>\n

No data disciplines exist in isolation. There has to be a balanced approach to progression, otherwise you could create an increased risk profile in one area if another is targeted disproportionately for advancement. For example, you need to consider:<\/span><\/p>\n