Summary

A data strategy captures an organization’s starting point, journey, goals, solutions, and target destination in order to become a data-driven enterprise. Organizations first need to recognize and understand how and why to manage data as an asset and a Data Product.

In this chapter, we discussed the value of a data strategy document enabling organizations to have a vision and plan to achieve profitable revenue and cost savings by leveraging data. We provided guidance on creating a data strategy and emphasized that it must have a business point of view across people, processes, and technology. We highlighted three popular data maturity frameworks (DMBOK, DCAM, and Gartner’s) and recommended completing a data maturity assessment as input for a data strategy. We also covered the implementation of a data strategy document and offered an example that aligned DAMA’s data maturity areas with a Data Fabric. Data management, Data Governance, Data Privacy, and...