A data strategy outlines how an organization will manage and leverage its data assets to achieve its business objectives. It involves defining the data architecture, governance, management, and analytics practices used to ensure that data is accurate, accessible, and secure.
“I can’t stress this enough: data or the lack of the right data strategy is the number one bottleneck to scaling or doing anything with AI,” said Nitish Mittal, Partner at Everest Group. “When clients come to us with what they think is an AI problem, it is almost always a data problem. AI depends on viable data to prosper. That’s why it’s important to think about the data first.”