8 Steps to Creating a Data Strategy

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Creating a clearly articulated data strategy—a roadmap of technology-driven capability investments prioritized to deliver value—helps ensure from the get-go that you are focusing on the right things, so that your work with data has a business impact. In this presentation, the experts at Silicon Valley Data Science share their approach for crafting an actionable and flexible data strategy to maximize business value.

Daten & Analysen

1 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
8 STEPS TO CREATING A
DATA STRATEGY
from Silicon Valley Data Science

2 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
WHY HAVE A DATA STRATEGY?
Data has become critical to achieving competitive
advantage in business. With so much data to look at and
so many tools to consider, however, it is easy to invest in
the wrong platforms and capabilities.
Creating a clearly articulated data strategy—a roadmap of
technology-driven capability investments prioritized to
deliver value—helps ensure from the get-go that you are
focusing on the right things, so that your work with data
has a business impact.

3 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 1.
Identify your business objectives.

4 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Identify your
business
objectives.
These should
become the goals
of your strategy;
your data will be
the means to
executing your
objectives.

5 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 2.
Go from objectives to tactics.

6 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Go from
objectives to
tactics.
Answer the
question: How are
you going to
achieve your
goals?

7 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 3.
Include all parts of the organization and
all stakeholders in the conversation.

8 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Include all
parts of the
organization
and all
stakeholders
in the
conversation.
This means people
from both the
business and
technical sides of
your organization,
at a minimum.

9 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 4.
Look at how technology supports the use cases.

10 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Look at how
technology
supports the
use cases.
Answer the
question: What
data technology
makes this
possible?

11 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 5.
Exploit patterns and reuse.

12 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Exploit
patterns and
reuse.
Look at common
relationships and
services, and
ﬁgure out where
eﬃciencies are
possible.

13 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 6.
Prioritize all the things you could do
to ﬁgure out where to start.

14 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Prioritize all
the things you
could do to
ﬁgure out
where to
start.
Not all projects are
created equal.
What matters
most to your
business?

15 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 7.
Deﬁne your roadmap with an end-point in mind.

16 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Deﬁne your
roadmap with
an end-point
in mind.
Identify a pipeline
of projects that
take you toward
your goal.

17 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
STEP 8.
Lather, rinse, repeat.

18 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
Lather, rinse,
repeat.
Revisit and reuse
this checklist to
refresh your data
strategy as
conditions change
over time.

19 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
DATA
STRATEGY
CHECKLIST
1.  Identify your business objectives.
2.  Go from objectives to tactics.
3.  Include all parts of the organization and
all stakeholders in the conversation.
4.  Look at how technology can support
the use cases.
5.  Exploit patterns and reuse.
6.  Prioritize all the things you could do
to ﬁgure out where to start.
7.  Deﬁne your roadmap with an end-point
in mind.
8.  Lather, rinse, repeat.

20 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED.
TO LEARN
MORE…
Click to download
our position
paper.
Or get in touch
with us:
info@svds.com

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This project aims to predict whether a loan application will be approved or denied based on various factors such as applicant's income, credit score, loan amount, etc. Using a dataset containing historical loan application data, we employed machine learning algorithms to build a predictive model. The model was trained on features such as applicant's income, credit history, loan amount, loan term, and others. After training the model, we evaluated its performance using metrics like accuracy, precision, recall, and F1 score. The insights from this project can help financial institutions streamline their loan approval process and make informed decisions. Visit for more information: https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/

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2. 2 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED. WHY HAVE A DATA STRATEGY? Data has become critical to achieving competitive advantage in business. With so much data to look at and so many tools to consider, however, it is easy to invest in the wrong platforms and capabilities. Creating a clearly articulated data strategy—a roadmap of technology-driven capability investments prioritized to deliver value—helps ensure from the get-go that you are focusing on the right things, so that your work with data has a business impact.

4. 4 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED. Identify your business objectives. These should become the goals of your strategy; your data will be the means to executing your objectives.

8. 8 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED. Include all parts of the organization and all stakeholders in the conversation. This means people from both the business and technical sides of your organization, at a minimum.

14. 14 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED. Prioritize all the things you could do to ﬁgure out where to start. Not all projects are created equal. What matters most to your business?

19. 19 © 2015 SILICON VALLEY DATA SCIENCE LLC. ALL RIGHTS RESERVED. DATA STRATEGY CHECKLIST 1.  Identify your business objectives. 2.  Go from objectives to tactics. 3.  Include all parts of the organization and all stakeholders in the conversation. 4.  Look at how technology can support the use cases. 5.  Exploit patterns and reuse. 6.  Prioritize all the things you could do to ﬁgure out where to start. 7.  Deﬁne your roadmap with an end-point in mind. 8.  Lather, rinse, repeat.

8 Steps to Creating a Data Strategy

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