By continuing to use this site, or closing this box, you consent to our use of cookies. Typically, this strategy includes activities such as the integration of disparate customer and market data to help make management decisions, for example, through interactive dashboards. Each department, for example, may put raw data into whatever format they think is best. All rights reserved. This amounts to €740 million in labour costs. A data strategy roadmap visually communicates how an organization will improve all of the ways it acquires, stores, manages, shares and applies its data. Learn how to access this content as a Gartner client. ©2020 Gartner, Inc. and/or its affiliates. As an example, if the scope of the data strategy is to get a 360 view of customers and potential customers, the current state assessment would include any business process, data assets including architecture, capabilities (business & IT), and departmental policies that touch customers. This strategy includes technology, along with improvements or changes to the organization, processes and policies. Access to data and the ability to use it are essential for innovation and growth. This roadmap is divided between three key phases: planning, process and review. Your data strategy must also answer the question: ... for example, the bankruptcy of their cloud vendor. 4. The European Commission proposes a new European way of data governance to facilitate data sharing across sectors and Member States. A data strategy should consider what needs to be archived and where to archive it. However, a one-pager is never going to be detailed enough to explore all of the issues, challenges and requirements for data sources, data governance, technology, skills and implementation. Developing an enterprise data strategy is a major endeavor that will yield short and long-term benefits to any organization, of any size, in any industry. This strategy includes technology, along with improvements or changes to the organization, processes and policies. Although information on enterprise data management is abundant, much of it is t… Finally, a data strategy can also help you to cut costs. Our framework addresses two key issues: It helps companies clarify the primary purpose of their data, and it guides them in strategic data management. Tips for Creating a Robust Data Strategy. Master data management strategy (MDM) refers to the governing procedures for entering, aggregating, consolidating, de-duping, standardizing, and maintaining data en masse throughout an organization. The data strategy vision All organizations make decisions about how they engage with, operate on and leverage their data — whether at an enterprise or project level. Gartner is a registered trademark of Gartner, Inc. and its affiliates. Data-driven innovation can bring major and concrete benefits, such as. Level 1: “Top Down” Alignment with Business Priorities: Data Strategy. request.inthefuture,togoasfastasthebusinesswants,theteamwillneed Its research is produced independently by its research organization without input or influence from any third party. This represents up to €20 billion in labour costs, real-time notification of delayed trains can save 27 million working hours. Reset Your Business Strategy Amid COVID-19, Sourcing, Procurement and Vendor Management, Effective Data Strategies Are Concrete, Actionable and Specific, Effective Data Strategies Articulate Metrics From the Outset, Effective Data Strategies Balance Short-, Medium- and Long-Term Deliverables, Effective Data Strategies Combine Business Use Cases, Governance Use Cases and Solutions, Effective Data Strategies Build Foundational Components by Use Case, Effective Data Strategies Coordinate People, Process, Policy and Technology, Step 0: Prework — Secure or Create Prerequisite Artifacts, Secure or Create the Future-State Documents, Step 1: Develop Tentative Set of Projects, Business Policy, Data Management Policy and Governance Policy, Data Management Process — Design Time and Runtime, Use Cases About Improving Business Operations, Step 5: Articulate People and Organizational Needs, Step 6: Prioritize Projects Into a Roadmap, Establish Conservative Project Boundaries. The European data strategy aims to make the EU a leader in a data-driven society.Creating a single market for data will allow it to flow freely within the EU and across sectors for the benefit of businesses, researchers and public administrations. This guidance describes how data and analytics technical professionals can create a data strategy. A data strategy has become a vital tool every organization needs. Our first data strategy, published in 2013, focused on how we collect and manage data.It served us well, particularly in how we minimise the burden of data col lection on firms. Making the EU a role model for a society empowered by data. Consider the example of a consulting team helping a large bank to develop a data strategy. All rights reserved. Having a data strategy helps the whole process run more smoothly and prepares you and your people for the journey ahead. This guidance describes how data and analytics technical professionals can create a data strategy. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Joe Maguire. From the start, the project champion had found it hard to get his VP to under - stand the need for and importance of a data strategy… Most organisations have well-defined business and IT strategies. However, technology and advanced analytics techniques have evolved significantly over the last 6 years. strategy (Phase 3) Data Investigation can help populate the metadata-driven approach The Investigative Approach Data Profiling is conducted to quantitatively understand data quality issue of the current environment Helps remove the uncertainty and assumptions regarding the current information environment Often uses a tools-based approach This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It is, in effect, a checklist for developing a roadmap toward the digital transformation journey that companies are actively pursuing as part of their modernization efforts. The EU will create a single market for data where, The EU will become an attractive, secure and dynamic data economy by. So this could include example 1 and add in example 2. For example, data that is stored in the cloud might require stricter encryption rules. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. With data becoming key to business success, a coherent data strategy is now also important. creating an enterprise data strategy: managing data as a corporate asset 21 executive summary datastrategy incontext dataproblems reconciling opposites data governance: embeddingdata qualityinto processes data management portfolio summary reconcilingopposites. Unlike other approaches we’ve seen, ours requires companies to make considered trade-offs between “defensive” and “offensive” uses of data and between control and flexibility in its use, as we describe below. It will create wealth for society, and provide control to citizens and trust to companies. Better allocation of resources to fight malaria could save up to €5 billion in healthcare costs globally. For further information, see Guiding Principles on Independence and Objectivity. As a result, Data Management errors in security, access, and business execution (people, processes, and technologies) will … Clarify the problem you want to solve: improve decision-making, ... We are also seeing examples of when data planning gaps are exposed (collecting the wrong data, data breaches, etc.) The European data strategy aims to make the EU a leader in a data-driven society.Creating a single market for data will allow it to flow freely within the EU and across sectors for the benefit of businesses, researchers and public administrations. Data Strategy Helps You Use Resources Efficiently. For example, a Commvault notes while enterprises are opening their wallets to cloud spending, very few have a well-developed Data Strategy for this newer technology. Cancer Institute Data Management Plan Example A data strategy is a common reference of methods, services, architectures, usage patterns and procedures for acquiring, integrating, storing, securing, managing, monitoring, analyzing, consuming and operationalizing data. (Съобщение: Европейска стратегия за данните), (Communication: A European strategy for data), (Meddelelse: En europæisk strategi for data), (Mitteilung: Eine europäische Datenstrategie), (Ανακοίνωση: Ευρωπαϊκή στρατηγική για τα δεδομένα), (Communication – Une stratégie européenne pour les données), (Komunikacija: Europska strategija za podatke), (Comunicazione: Una strategia europea per i dati), (Komunikatas „Europos duomenų strategija“), (Komunikazzjoni: Strateġija Ewropea għad-, (Komunikat: europejska strategia w zakresie danych), (Comunicação: Uma estratégia europeia para os dados), (Comunicare: O strategie europeană privind datele), (Sporočilo: Evropska strategija za podatke), Communication: A European strategy for data, This site is managed by the Directorate-General for Communication, Examples of industrial and commercial data use, Digital Decade: Commission launches Action Plan to support recovery and transformation of the media and audiovisual sectors, Speech by President von der Leyen at the Lisbon Web Summit, EU Cohesion policy: Commission and EBRD promote innovative use of data in public procurement involving EU funds, Speech by Executive Vice-President Vestager at the Press Conference on the Data Governance Act and the Action Plan on Intellectual Property, EU as the global leader in trustworthy AI, Aid, Development cooperation, Fundamental rights, Follow the European Commission on social media, data can flow within the EU and across sectors, for the benefit of all, European rules, in particular privacy and data protection, as well as competition law, are fully respected, the rules for access and use of data are fair, practical and clear, setting clear and fair rules on access and re-use of data, investing in next generation tools and infrastructures to store and process data, joining forces in European cloud capacity, pooling European data in key sectors, with common and interoperable data spaces, giving users rights, tools and skills to stay in full control of their data, jet engines filled with thousands of sensors collect and transmit data back to ensure efficient operation, wind farms use industrial data to reduce visual impact and optimise wind power, real-time traffic avoidance navigation can save up to 730 million hours. 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