Data Strategy Development

Definition updated on November 2023

What is data strategy development?

The process of developing a strategy for how data will be gathered, handled, and used inside an organization is referred to as data strategy development. It involves evaluating the data infrastructure's existing state and finding ways to enhance and optimize it. A data plan also specifies the particular procedures, instruments, and governance guidelines that will be used to guarantee that data is correct, safe, and available to those who require it. For organizations, creating a data strategy is essential since it aids in guiding crucial business decisions, revealing insights, and maximizing the value of accessible data. Organizations can prevent unauthorized access to data with the help of a good data strategy, which also allows them to carefully organize all of their activities to improve the security and integrity of information at all times. This includes developing systems that protect data and applying analytics to identify and stop fraud.

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