Before Thinking Artificial Intelligence and Big Data, Think Data Strategy
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According to Harvard Business Review, before thinking about AI and Big Data, companies should think Data Strategy because cross-sectoral studies show that, on average, less than half of an organization’s structured data is actively used to make decisions and less than 1% of its unstructured data is analyzed or used.
More than 70% of employees have access to data that they should not, 80% of the time of analysts is devoted to the discovery and preparation of data. Data breaches are common, unreliable datasets are spreading in silos, and enterprise data technology often does not live up to demand.
Having a Chief Data Officer (CDO) and a data management function is excellent but not necessarily possible in all organizations. On the other hand, each organization should, at its level, define a coherent strategy for the governance, analysis and deployment of information assets (data).
In short, a Data Strategy!