Data Security

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Data has become the lifeblood of many businesses, and yet many organizations feel lost¬†with knowing where to start. While taking any action can be good, we advocate a more strategic approach by starting with an organization’s goals and following a methodical approach to develop a data strategy.

  1. Identify Goals: 
    • Aligning goals from a data analytics standpoint with the overall organization’s goals helps to ensure alignment and buy-in throughout the organization. This also provides a framework for follow-up efforts and will enable the organization to track progress relative to its goals.
  2. Quantify Objectives:
    • Once you have developed your goals, determine what success would do for your business. These should be quantified in terms of new revenue or potential cost savings. While saving time or making processes more efficient is a noble goal, converting these measures to dollars will help in the next step to prioritize projects.
  3. Prioritize:
    • There are always more projects that you would like to do than you have time, so knowing how to maximize your limited resources is critical. In addition to the dollar value determined in step 2, a level of effort and probability of success should be developed in order to determine where to start. Converting the dollars into NPV or ROI is good for being able to measure the impact across the potential projects under consideration.
  4. Develop Project Plans and Assign Resources
    • Determine what resources will be needed to complete each project. Do you have all of the resources in-house needed to complete the various projects? Also, even if you do have in-house resources that could figure out how to complete each project, consider whether they have the bandwidth to spend the time needed to complete each project in a timely manner
  5. Execute and Follow-Up
    • Now that you’ve determined what needs to get done and who will do it, it’s time to roll up your sleeves and execute each project. As the project proceeds and wraps up, make sure to track the impact of the project and continue to track the performance over time.

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