Data Strategy Course Preview
Hello and welcome to my Data Strategy course. This is Ade Awokoya from LBAcademy. I am a Digital Transformation Adviser, enabling support for Business to innovate on a digital platform, with a focus on your business model.
In this session, on Data Strategy, we’ll be covering the fundamentals and best practices of good data management, the technology that’s available to help and discuss how and when business should apply them as they grow.
The data strategy course is for Business owners, executives and analysts looking into ways to improve business results and profit on a data driven platform. The course should leave you with a clear understanding of the various elements you can use to increase your team’s speed and effectiveness now and as you grow.
Data Excellence: You should (initially) focus on a small area of the business and show value. Speed is everything and data is the fuel you rely on to make great decisions rapidly. But how do you make the best use of the data you have? How much time should you invest in your data infrastructure and when?
To use Data to make better decisions, you’ll need to learn data-driven thinking.
A smart business executive focuses on data strategy first. Almost all companies are aware that data can help them improve their performance in some way, shape, or form. However, Data is only as useful as the insights you will obtain from it.
These considerations should help you define a roadmap of how data will help your business in the long term. Once you have done this, then you could focus on data analysis techniques and data storage infrastructure requirements.
2.1 Data Overview
This course focus is on small business so we will avoid looking at enterprise systems, which apply to Large and multinational companies. Also my focus here is on YOU, the business owner, so we want to avoid being drowned in technicalities.
2.2 Data Analysis
As a business owner, data analysis helps you make business decisions based on facts and not simple intuition. Data analysis is the process of collecting, modeling, and analyzing data to extract insights that support decision-making.
2.3 Business Data
Improve and automate your business processes with data. Once you have found out some of the potential uses of data in your business, you can now follow up in some detail. Use a regular template for each potential use case.
2.4 Open Data
The Open Data Initiative provides a platform for a single, comprehensive view of your data, bringing together and enriching data from all your lines of business, across all your systems to deliver real-time intelligence back into your services.
2.5 Data Security
Data security is the practice of protecting digital information from unauthorised access, corruption, or theft throughout its entire life cycle. The business value of data has never been greater than it is today.
2.6 Data Strategy
Creating a solid data strategy is one thing, but you need to implement it in practice to be successful. And this can only happen if you have the right team on board. As they occur, the impact that data can have on a business and the magnitude of such changes is very attractive.