So, it’s clear that data is now a key business asset, and it’s revolutionising the way companies operate, across most sectors and industries. In effect, every business, regardless of size, now needs to be a data business. And if every business is a data business, every business therefore needs a robust data strategy.
Why every business needs a data and analytics strategy
Having a clear data strategy is absolutely vital when you consider the sheer volume of data that is available these days.Instead of starting with the data itself, every business should start with strategy. A good data strategy is not about what data is readily or potentially available – it’s about what your business wants to achieve, and how data can help you get there.
This means you need to define the key challenges and business-critical questions that need answering, and then collect and analyse the data that will help you address them.
Create or evaluate your current data strategy – then update or create a new strategy involving funnels, retention, journeys, segments, demographics, events, revenue and audience.
Update and improve – We will work on how you want data to work for your business and your goals based on your digital strategy and marketing – improving decision making and operations.
Data governance: Ecomblue recognizes that collecting and storing data, especially personal data, brings serious legal and regulatory obligations. Therefore, it is vital any organisation factor data ownership, privacy and security issues into their data strategy. Ignoring these issues, or failing to properly address them, could see data go from a huge asset to a huge liability.