A high-level data strategy that flows down through the organization makes it easier to tie analysis to business decisions. But the goal, Gartner panelists said, must be to create an organization that is infused with data and analytics, rather than building strictly a data or analytics strategy.
Companies can better drive business outcomes when they have a formal data analytics strategy and a culture where data infuses decision-making, panelists said during a Gartner webinar.
"A formal strategy is a huge driver for supporting the decision-making and the organizational capabilities of our knowledge workers," Gartner Senior Principal Analyst Amanda Pagay said. "The second most common driver for focusing on strategy is creating an information-driven culture."
That includes ensuring that the entire organization views data as an asset that informs decision-making and innovation rather than a box-checking exercise. There are plenty of reasons to value data and analytics, "but the decision-making piece is a huge driver for why we actually care about data strategy,” she said.
“It is much more helpful to start from the top down and think about what your high-level strategy is and then trace your way back down,” Pagay said. “Likely, those foundational investments will be there. It is a lot easier to communicate urgency with your stakeholders for some less-than-interesting sounding investments if you're able to tie it back to what they care about, getting their decisions and their analyses done.”
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