There is universal consensus across businesses of all sizes and industries that data is the new currency. However, the real value is unlocked when organizations intimately understand their customers and operations. By leveraging a comprehensive data strategy, companies are empowered to create new models to serve their customers and operate their own businesses more efficiently.
Brillio identified three key reasons behind the significant uptick in data strategy investment across all industries:
The need for visibility- During the pandemic, the degree of separation from the customer increased. Most people are working remotely, and businesses are more distanced, both from the market, and from their customers.
The need for uninterrupted operations- Traditionally, data was mainly used for sales and marketing to enhance the customer experience. Now, the most significant disruption is in the operations vertical.
When there is economic pressure, there is also cost pressure for taking measures. It is important to choose the technology needed for your particular business.
If you’re just starting your analytics initiative, or want to take your data strategy to the next level, this guide will walk you through each stage of the journey, including ‘The Six Steps to Create and Operationalize a Data Strategy,’ and will show you exactly ‘What a Great Data Strategy Looks Like’.
