A recent data and analytics study looked into why organisations have difficulty in materialising and delivering the promise of data-driven projects, revealing several roadblocks and opportunities to achieve success.
- IT leaders and their data teams might need to
compete with a host of other initiatives in need of financing, therefore it is
imperative to demonstrate the importance and priority of that data-driven
- Every project needs to contribute to the road
that leads to the desired destination. A data strategy should have a data
management component and a data use strategy.It is important that organisations
understand what data is available, how the data is defined, how frequently it
changes and how it is being used.
- There is the challenge of getting sufficient
funding for data projects, which usually requires substantial investment of
resources and budget from the beginning. Generally, it needs to be made clear
how data can be used efficiently to deliver clear return on investment; thus, decision
makers can be made aware about how these projects save time and money.
Digital transformation should not be pursued without a solid data strategy.The data strategy should inform how data projects can support the goals of a business. The value of the data project should be showcased to collect interest and support, which is essential for receiving adequate funding and resources.
Lastly, there needs to be enough IT talent and people with the right skill set to get data-driven projects done. Ensuring teams have the right skills and expertise is important so that when a project runs into issues, teams can quickly and effectively resolve the problem.
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