5 Considerations for Crafting a Winning Data Strategy

Essential competencies are quickly evolving in light of regulatory changes and massive technological shifts

Photo by fizkes

Data Strategy is a core capability required to treat data as an asset. In the new year, we will see a rapidly changing regulatory landscape and massive shifts in technology impacting this field. Here are some key considerations for implementing Data Strategy in 2023:

1. Data Labeling Becomes the Bottleneck
2. Increased Data Sharing
3. Uncertain Future of US Data Privacy Regulation
4. Data Darkness for Advertisers
5. Advancements into Multi-Cloud

Introduction

Before we jump into it, here’s an explanation of Data Strategy and why it’s so incredibly important:

Organizations need Data Strategy in order to manage risks, remain relevant, and operate successfully. Data Strategy is a broad topic that spans end-to-end management of an organization’s data pipeline.

Leaders in this space are required to have a good grasp of analytics in order to make fundamental data-driven decisions. They also need to understand how to craft a positive culture that encourages data…