You know it’s important. You know you can harness it to do amazing things. You’ve heard all the buzzwords – “Big Data”, “Predictive Analytics”, “Data Wrangling”.

But what does it all mean? And how can you convert the masses of data your company collects every day into useful and actionable insights?

Data is potentially one of the biggest and most important assets you have. A data strategy helps you drill down into your core business needs and identify the ways that data can support your overarching business strategy. It also provides a framework for how data is stored and shared, outlining standards for secure storage and sharing of data.

Customers often ask the question “I have all this data, what can I do with it?” – attempting to drive out outcomes in this way often fails to achieve the desired result. The data strategy identifies the value drivers, whether you have all the data you need and what data you may still need to acquire or generate. This is when data really drives value in the business.