Pitfalls to avoid when creating a Data Strategy
Many articles have discussed all kind of topics around data. From master data management to master data governance, data management, chief data officers and many other topics. These “chapters” are important by itself however what is the point if you do not have a strategy. A Data Strategy to be precise. In my opinion this should be the foundation of all activities around data. If you want to become a data driven company you better make sure you have one in place. However with creating a data strategy you will come across some pitfalls. But what are well know data strategy pitfalls?
Data Strategy Pitfalls
If you ask me a Data Strategy can not be a list of generic principles or obvious statements. Everybody knows that data is a strategic assets. But how is it one for your company and how are you going to exploit this?
Secondly a Data Strategy is not merely a list of technology trends that might somehow influence the organization in the coming years. Technology is only an enabler of your data strategy and not a strategy on its own.
The vague list of objectives without a clear guiding vision or path for actualization is a common pitfall in the area of data strategies. Think about your company strategy as a total. You did not include in that one a list of singular objectives.
A top level vision only is a pitfall for not only a data strategy but for all kinds of strategies. Data management must become a part of your companies DNA. Of course there are some real “data” departments who breath data and data strategy but everybody should be involved.
Avoiding Data Strategy Pitfalls
These four items are key when you create a data strategy. It is of great importance that you take this just as seriously as any other part of your companies strategy. Becoming a data driven company is not easy. Only when it is part of your companies DNA your know you are on the right track.