Data Strategy

Definition of Data Strategy

A plan that outlines how an organization will manage, analyze, and utilize data to achieve its goals.

Explanation of Data Strategy

Data strategy refers to a comprehensive plan for managing, analyzing, and leveraging data to achieve business objectives. This strategy outlines the processes, technologies, and governance frameworks needed to ensure data quality, accessibility, and security. A well-defined data strategy aligns with the organization’s goals and supports data-driven decision-making. Key components of a data strategy include data governance, data architecture, data management, and analytics capabilities. Implementing a robust data strategy helps businesses unlock the value of their data, improve operational efficiency, and drive innovation. Regular review and adaptation of the data strategy are essential to stay aligned with evolving business needs and technological advancements.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.