Although many companies recognise that data, and open data in particular, represents a valuable strategic asset, a surprising number are still failing to take full advantage of this key information to gain a strategic advantage over their competitors.
Here we'll take a closer look at the importance of incorporating open data into your company's data strategy so you can make effective data-driven decisions that are based on analysis instead of intuition.
Despite companies making a more significant investment in data analytics initiatives these days, traditional obstacles such as inefficient management practices, untrustworthy sources and a lack of valuable insights are still preventing data's true potential from being unlocked.
Having a strong framework for data strategy is imperative to ensure those obstacles can be overcome and a data driven path be taken.
What Is A Data Strategy And Why Does It Matter?
Data strategy is the term used to describe a long-term plan defining the processes, technology, rules, and people needed to manage the information assets of an organisation. An effective data strategy will outline the long-term vision for an organisation to collect, store, share, and use its data....
Continue reading this article on our Open Data Blend Blog.