4 Rules for Big Data Strategy
Considering a big data push? Read these four rules for crafting your big data strategy so that it has the greatest positive impact on your business.
Dominic Barton and David Court of McKinsey & Company write in HBR Blog Network that defining your big data strategy involves four principles. First, Barton and Court say, you need to “establish a clear-eyed view of the business impact expected at each stage of implementation in order to better focus efforts and determine priorities.”
By doing so, you can identify how your big data strategy will change your business and what you hope to get out of it. After that, look at your data resources and determine if there are any gaps. Next, avoid diving right into “action-planning mode,” and instead tie your big data strategy to your overall strategy in a thoughtful manner. Be sure to keep high-level managers in the loop to deal with any “organizational implications,” as your findings may conclude that certain departments need to work more closely together.