Data Strategies That Provide Business Value – HBR.org Daily

 
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As companies seek to build data-driven organizations that leverage the power of artificial intelligence (AI), executives must implement data strategies that fuel real business value. These data strategies enable companies to use insights or technologies that drive impactful business outcomes, including increased revenue or greater innovation across products, services, and experiences. However, many companies are having trouble implementing a data strategy that generates business value.
The right people, processes, and technology are at the heart of any data-driven organization. Achieving this core requires a multifaceted strategy that focuses on establishing a governance framework that ensures data is accurate and reliable, building a data-literate workforce, investing in the right tools and technology, making data easy to access, and measuring the impact of data-driven initiatives to ensure that they generate value.


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